42 



THE IRRIGATION AGE. 



informed people the impression that an 

 attempt was being made to curtail and 

 limit the preservation of the forests. 

 Such was not the case as many of those 

 who were most earnest in their efforts 

 for revocation and a survey are the ac- 

 knowledged leaders of the forestry 

 movement. It is true that some selfish 

 interests took advantage of this to dis- 

 credit the work and in some cases the 

 newspapers voiced the contention that 

 a million people would be deprived of 

 homes. Such statements were absurd, 

 and were not given credence among peo- 

 ple familiar with the subject. At the 

 present time the matter is awaiting the 

 decision of President McKinley. He 

 has patiently listened to the arguments 

 for and against of the delegations that 

 have visited him and it is trusted that 

 he will see his way clearly through the 

 intricacies and act in a manner calcu- 

 lated to conserve the best interests of 

 the west. A great deal of credit is due 

 Gov. W. A. Richards and State Engineer 

 Elwood Mead, of Wyoming, for the 

 active, intelligent and public spirited 

 work they have done in attracting gen- 

 eral attention to the true inwardness of 

 the case, at least so far as relates to their 

 particular state. 



Irrigation The time is coming 

 Securities. when irrigation se- 

 curities will again become an important 

 factor in the financial world. For sev- 

 eral years they have been regarded dis- 

 trustfully by investors and the reason 

 therefor is plain; it can be condensed 

 into one word speculation. But the 

 era of irrigation gambling has nearly 

 passed. No longer is it possible to cap- 

 italize the future with glittering promises 

 of immense profits. What the true 

 friends of irrigation now most desire is 

 a thorough comprehension of irrigation 

 as it is and not as too vivid imaginations 

 have painted it. When the capitalist 

 can be brought to the point of under- 

 standing that irrigation is an industry 

 susceptible of being profitably developed 

 by the same legitimate, practical, eco- 

 nomical methods that bring forth suc- 

 cess in other lines of business enterprise, 

 (and this has been and can be demon- 

 strated beyond the shadow of a doubt) 

 the money will be forthcoming to carry 

 to completion the systems already begun 



and to inaugurate others. Ample security 

 and a reasonable interest on the invest- 

 ment is what capital desires. Such a secur- 

 ity is the bond of the irrigation district, 

 provided the district has been regularly 

 organized, is ably officered and the sys- 

 tem has been approved by an efficient 

 engineer. Such a bond being a first 

 lien upon the land and improvements as 

 well as the water system, guaranteed by 

 the faith of the people and redeemable 

 by direct taxation is safe, if it is further 

 provided that the total amount of bonds 

 issued represents not more than a reason- 

 able per cent of the value of the land irri- 

 gated. It is not the writer's intention 

 to be understood as meaning that the 

 bonds of all irrigation districts can be 

 classed as good securities, far from it, 

 but there are districts whose bonds are 

 w r orthy of investigation. The bonds of 

 the irrigation district will eventually be 

 considered as good if not a better invest- 

 ment than those of municipal water 

 works. 



Trans-Mississippi The last legal obsta- 

 Expositfon c le before the Trans- 

 Assured Mississippi Exposi- 

 tion has been removed by the passage 

 through the Nebraska Legislature of a 

 bill authorizing the exposition and 

 making an appropriation for the same; 

 and the bill has been promptly signed 

 by Governor Silas A. Holcomb. The 

 agitation in favor of this exposition was 

 begun about a year ago by the editor of 

 the Omaha Bee, and it was promptly 

 followed by the organization of the citi- 

 zens of Omaha, and the appointment of 

 committees to take up the active work. 

 So diligently and faithfully have these 

 committees labored that they have se- 

 cured subscriptions for the stock of the 

 exposition company to the extent of sev- 

 eral hundred thousand dollars, and have 

 also induced the legislatures of some of 

 the western states to make appropria- 

 tions for exhibits. The well known 

 ability and integrity of the men now in 

 charge of the exposition assures it a 

 successful outcome. 



Irrigation's The Trans-Mississip- 

 Opportunity pi Exposition pre- 

 sents to the irrigation industry an op- 

 portunity for display which it has not 

 had since the World's Fair, and in fact, 

 it is an opportunity of even greater im- 



