The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1921-08-29
MONDAY, AUGUST 20, 1921.
Mr.. FoRp,s OFFER.

Henry Ford's proposal TO buy from
the government the Muscle Shoals
water power and nitrate plants on the
Tennessee river does not meet with
approval in all guam quarters. Clifford
Pinchot writes a letter in opposition
that ought be read as it discusses
an important question the granting
OF great public rights to private in
dlvidual and corporations. The letter
written by Mr.. Pincnot Is as follows.
The recent offer of MIR. Henry Ford
to take oyer Government property of
Muscle Shoals ON the Tennessee River
ls So important that take the liberty
81 laying certain essential facts before
fyoH,
The first part Of the Ford offer is to
lease the wilson Dam aad Dam Nun.
Der for 100 years, with indefinite
renewals, provided the ,uOyemment
viii comp etc them and install ma.
chlnery to produce $50 900 horsepower.
Mr.. Ford offGIs to pay per cent on
the 2 million dollars which he est
mates wialBe necessary to complete
this work, or "a 10 per cent on As
million dollars, Mr. Ford's own esti.
mate Of the whole Government invest.
ment in dams, locks. and power
houses. Even II we add all other an.
mal payments 1.-THE so called amortiza.
ton payments, and payments for the
repair, maintenance, and operation OF
dams, gates and locks) the total
would be equivalent to interest at the
rate of only 3.6 tenths per cent. Mr..
Ford offers also TO give the govern
ment 800 horsepower to operate the
locks.
Please note that for the waterpower
itself Mr.. Ford would pay nothing.
and that he woula be free from all
taxes on the property ga Other leasees
OF waterp0wer rights from the Cover.
ment not only hear the total cost OF
building their own dams and power.
houses aid pay taxes OH them. but
they also pay for the watefpower in
addition The Ford offer is lire offer
. ing q man SO tepths per- cent on the
cost of his factory as, rent, and then
asking him 70 throw in coal mine to
SUPPLY idel for the engines for moth.
ing. ~ yasi'ot nf'ioA''f - ~
There is no allowance for depre.
citation, and the Government would
beyond question have TO pay the cost
Of injury to the cams or locks from
foods or OTHER Causes. y Moreover,
there is nothing m the offer to indl.
cate that the government, in order to
protect It's own property. would not
nave to bear the expense of replac-
ing ENORMOUSLY costly machinery
which It had been worn out In Mr..
| Ford's service.
The second part of the Ford offer
is to buy Nitrate Plant Number /,
J which cost the Government in round
numbers Is million dollars, Nitrate
Plant Number 2. which cost the
Government in round numbers 40
million dollars and other property
which brings the total cost to SO mil
lion dollars. and to pay million dol
lars for it all. The property for which
this offer is made includes steam ma
chinery to produce 100 thousand
horsepower, which alone is worth far
more than Mr.. Ford's offer for the
| whole.
In addition the government is to
buy from the Alabama Power Com
pany the land upon which certain OF
the foregoing structures were built,
and to, turn that over to Mr.. Ford
also ,s,as... M
In return for the lease, for the nur.
| chased property, and for the WATERPROOF,
er without charge, Mr., Ford offers in
addition TO the payments mentioned
above, to do three principal things.
| First, to maintain Nitrate Plant
Number ready to be operated, in
time of war for the production of ex.
plosives," and in the event of War to
turn It over to the Government for
that purpose.
Second, TO operate Nitrate Plant
Number to approximate present ca.
, pacity in the production of nitrogen
and other fertilizer compounds" and
in this business to limit his net pro-
n A.. "a J..