The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1921-12-04
ARBUCKLE JURY LOCKED UP FOR ANOTHER night
Ford and Edison Inspect
Muscle Shoals; Keen to Finish
Americas Great Power Proiecf

nothing they saw today caused them
to change their previoua estimates
Ford win not agree 10 construct
tha dam at any guaranteed cost.
II will tell Secretary Weeks what
Edison and I believe we can do th>
job at. and will assure him we will
do IL as chcapiy as II can be done
and cheaper than the government can
hope to do H."
To See Nitrate Plant
Sunday the two men will give the
nitrate plants a survey. They are in
ciined to believe that the existing
electrical furnaces In the plant will
have to come out and new ones along
the type developed at the river Rouge
plant Installed In their stead. Monday
the party will return via Nashville.
where they will inspect the Old Hick-
o-y plant.
III the government win accept my
suggestion OF paying for the cost of
the completion OF the dam with
money issued against the value OF the
structure itself. the people Of this
country can have this wonderful pro-
ject completed and Il will not cost
them one cent" Ford said
III they issue bonds. as Wall street
VIII want them to do. Il will cost az
least twent yto thirty millions OF lnI-
lars for the bonds themselvcs. plus
the Interest over a period OF thirty
years. which will run into almost
double the original amount OF the
bonds themselves.
Nov" declared Ford. suppose the
government issues th, tweny odd mill
lions OF dollars required In the shape
or currency To pay for the dam. These
bills viii be AN obligation against the
United States they will be backed by
the credit cf the country and Will re-
present the value OF the Muscle
Shoals plant itself The men employed
viii be paid, the material bought.
with this money. There would be
no Interest, and in,eres; Is driving the
world bankrupt.
When the project starts operating.
It's earnings ought TO be very large
out OF the earnings the currency can
be retired. BY this plan no profit
would accrue to any one and tremen-
dous savings could be made.
With such a plant the government
could properly construct lock systems
on the Mississippi and Missouri rivers
that would give uH the greatest and
cheapest internal transportation sys-
tenn IN the world--and at no cost as
the projects would pay for them
selves" 80
Must End Wars
Pacing back and forth beside his
private car tonight. stopping occas-
ionally TO shake hands with eager
sightseerH who advanced out OF the
group tn speak TO him. Ford declared
that abolition Of war had become to
him the dominating motive OF his life.
We must free the world OF the
curae OF war" he said. War and the
makers OF war must he outlawed."
To bring about this thing. to see
all armies disarmed and TO see all
nuvies junked Ford has determined 10
dedicate the balance Of his life
The cause OF war" declared Ford.
is gold. Gold has powe. because Of
It's false value resulting from Its ac-
csptance ns medium OF exchange.
We must break the evil power OF gold
as creator OF war.
DO that one thing and YOU have
done away with war because basil
cally al wars are the result OF the
lure OF gold"
In the Muscle Shoals project IL the
government will accept his sugges-
tion. Ford believes he can demon
strate that the gold basis OF currency
can be eliminated and natural wealth
substituted In lis place.
~ don't know that congress will
agree with me now or accept my suR-
gestlun, but I believe that the Deople
viii, after they start studying II over.
II the government insists on issuing
bonds, I'm going TO try and get the
entire block. don't want any bank
crs on this"