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Keep this secret till tuedsday illegible This is issued by citizens who are interested solely in the welfare of San Francisco
and who have no interest whatever in any water supply available for San Francisco. TO THE VOTERS OF SAN FRANCISCO: Almost
all of our citizens favor a municipal water supply. We want the best there is---acquired on the best terms possible and for
the least cost. The IMMEDIATE QUESTION before the people is the HETCH-HETCHY SUPPLY. The following are SOME OF THE REASONS
WHY YOU SHOULD NOT VOTE BONDS FOR OR FAVOR THIS PROPOSITION : FINANCIAL REASONS AGAINST THE PROJECT. ARE YOU WILLING TO
BOND THIS CITY FOR MORE THAN SEVENTY-FIVE MILLION ( 75,000,000.00) DOLLARS AND INCREASE THE TAX RATE 75 TO 100 CENTS ON EVERY
HUNDRED DOLLARS? DO YOU WANT TO RAISE TAXATION BEYOND ENDURANCE? --- CHECK ENTERPRISE? - PARALYZE INDUSTRIES? - REPEL INVESTORS
FROM YOUR DOORS? - BUILD UP A WALL THAT WILL KEEP OUT MONEY AND PREVENT THE EMPLOYMENT OF LABOR? DO YOU WANT THE CITY TO
SPEND MILLIONS ON A ONE-SIDED AND GROSSLY UNFAIR PARTNERSHIP WHEREBY IRRIGATION DISTRICTS ARE GUARANTEED MORE THAN ONE BILLION
FIVE HUNDRED MILLION GALLONS OF WATER PER DAY AND SAN FRANCISCO IS ALLOWED ONLY WHAT IS LEFT? If you do not want all these
evils and worse to befall this city, pause a moment to read what follows: BONDS of San Francisco ALREADY AUTHORIZED- *1904
Bonds sold and outstanding ......... 3,436,000.00 1908 Bonds authorized and partly sold ......... 18,200,000.00 ADDITIONAL
BONDS REQUIRED in the near future for new City Hall,additional sewers, streets, parks and playgrounds, etc., total atleast
........... 10,000,000.00 CITY ENGINEER'S ESTIMATE OF COST OF HETCH-HETCHY SYSTEM..... 43,774,150.00 Grand Total . . .
. . 75,410,150.00 OR City Engineer's estimate of cost of Spring Valley plant and Hetch-Hetchy as auxiliary system .........
51,186,660.00 This would make a Grand Total of ...... 82,822,660.00 Remember that under the Charter THE CITY CAN NOT AT
PRESENT BOND ITSELF FOR MORE THAN 68,206,249.65. DOES NOT THIS TREMENDOUSLY EXPENSIVE SCHEME SPELL BANKRUPTCY AND RUIN? But
the real situation is even worse. DID YOU EVER KNOW OF A MUNICIPAL OR GOVERNMENT PROJECT WHERE THE ACTUAL COST WAS AS LOW
AS THE ESTIMATE? Our City Hall cost 13,000,000.00, or more than four times the original estimated cost The Panama Canal is
going to cost over a hundred millions more than, and about double the estimated cost EVERY MUNICIPAL WATER SYSTEM YOU EVER
HEARD OF COST FROM A THIRD TO A HALF MORE THAN THE ESTIMATED COST The new Los Angeles water and irrigation system was estimated
to cost 23,000,000.00, and the actual cost will be nearer 50,000,000.00. ARE WE ANY WISER HERE IN SAN FRANCISCO? The City
Engineer is anxious to keep his estimates as low as possible: He says the Hetch-Hetchy project will cost 43,774,150.00 or
51,186,660.00. Do you for one moment imagine that we can keep down the cost to anything like that amount? JUDGING FROM THE
EXAMPLES THAT HISTORY GIVES US, IT WILL COST MORE NEARLY 75,000,000.00 * It must also be kept in mind that there are about
14,000,000.00 more of the 1904 bonds authorized and uncancelled that may still be sold, which would make the grand total 90,000,000.00.