8 
BULLETIN 1257, U. S. DEPARTMENT OF AGRICULTURE 
follows. The annual reports of the Reclamation Service show the' 
" net investment." This is the difference between gross expenditures 
and gross receipts. The "corrected net investment" given in the 
tables is obtained by figuring interest at 4 per cent on the reported 
net investment for each year, plus previously accumulated interest. 
Table 1. — Cost of United States reclamation work to June 30, 1922. 
Reported debits $171, 496, 409 
Reported credits 41, 350, 449 
Reported net investment 130, 145, 960 
Corrected net investment (4 per cent interest on annual net in- 
vestments, compounded, to June 30, 1922) 70,706,685 
Total cost 200,852,645 
As shown by this table, the cost to the United States, to June 
30, 1922, has been about $200,000,000 instead of the $130,000,000 as 
reported. In fact, this is below the correct figure, since, in the com- 
putation made, interest on the expenditures in any year begins to 
run only after the close of the year, while the expenditures have 
all been made prior to that time. 
The reported net investments on the principal projects, the cor- 
rected net investments, including 4 per cent interest, and the differ- 
ences between these two, are shown in Table 2. The differences 
between the totals in this table and those shown in Table 1 are due 
to the omission of small and secondary projects. 
Table 2. — Financial statement of principal United States Reclamation Service 
projects, including interest at 4 per cent on net investments, compounded 
annually. 
Reported 
net invest- 
ment 
Corrected 
net invest- 
ment 
Increase 
Project 
Amount 
Percent- 
age 
Salt River . . .. . - 
$9, 937, 319 
9, 114, 565 
904, 324 
3, 864, 161 
6, 683, 199 
11, 674, 655 
1, 547, 279 
4, 650, 145 
332, 857 
1, 673, 369 
3, 912, 619 
2, 769, 382 
3, 997, 151 
3, 646, 554 
12, 013, 348 
6, 679, 229 
1, 171, 032 
371, 903 
11, 928, 644 
1,071,718 
2, 557, 363 
3, 290, 579 
3, 527, 805 
3, 196, 219 
1, 420, 077 
8,897,517 
7,431,154 
$17, 246, 238 
13, 864, 034 
1, 342, 223 
4, 966, 240 
10, 725, 143 
17, 495, 298 
1, 670, 187 
7, 759, 073 
606, 845 
2, 542, 678 
5, 238, 556 
3, 656, 196 
5, 362, 781 
5, 927, 462 
16, 982, 136 
11,050,874 
1, 843, 540 
690, 388 
14. 031, 982 
1, 677, 532 
3, 782, 654 
4, 968, 440 
5, 698, 229 
4, 767, 909 
1, 936, 191 
13, 135, 162 
10, 544, 049 
$7, 308, 919 
4, 749, 469 
437, 899 
1. 102, 079 
4, 041, 944 
5, 820, 643 
122, 908 
3, 108, 928 
273, 988 
869, 309 
1, 325, 937 
886, 814 
1, 365, 630 
2, 280, 908 
4, 968, 788 
4, 371, 645 
672, 508 
318, 485 
2. 103, 338 
605, 814 
1, 225. 291 
1, 677, 861 
2, 170, 424 
1, 571, 690 
516, 114 
4, 237, 645 
3,112,895 
73.6 
Yuma . .. .. -. .- . --. 
52.1 
Orland 
48.4 
Grand Valley . ... 
28.5 
Uncompahgre .. . 
60.5 
Boise.. . ... _ - 
49.9 
King Hill 
79.4 
Minidoka 
66.9 
Garden City. . ... ._ .__ 
82.3 
Huntley ... 
51.9 
Milk River 
33.9 
St. Mary's storage ... 
32.0 
Sun River. .. .......... 
34.2 
62.5 
North Platte . 
41.4 
Newlands 
65.5 
Carlsbad .. . 
57.4 
Hondo... .. .. . .. .. 
85.6 
Rio Grande 
17.6 
North Dakota pumping . 
56.5 
Umatilla 
47.9 
Klamath. . 
51.0 
Belle Fourche ... 
61.5 
49.2 
36.3 
47.6 
Shoshone 
41.9 
Total. 
128, 264, 167 
189, 512, 040 
61, 247, 873 
47.8 
