Palatka daily news. [volume] (Palatka, Fla.) 1919-1994, 1922-08-04
MINORITY REPORT URGES
ACCEPTING FORD'S PROPOSE
Continued from Page L.


future from the present paralysis O
American industry"
The report called attention tt
; charges that acceptance of Mr.. Ford's
tender would give him government
subsidy in the development of power
and the manufacture of fertilizer. az
it is a subsidy, ii is not such sub
Sidy as is proposed by the admins
traton n the Ship Subsidy Bill"
The report then cited a comparison
between the Ladd bill and that pro
posing federal relief for the merchan
marine, showing that the former call
ed for an expenditure of $42,OOO,OO(
while the latter required an expendi
ture of $125,OOO,OO0.
How They Compare.
/ In that connection, if was contend
ed, one measure would take the gov.
rernment out of the shipping business
while the other would take it out Of
the fertilizer and power business. II
was also argued in that connection
that the Ladd bill would cost the gov
eminent. Approximately nothing" g
year while the ship subsidy bill
ESwould necessitatc an annual cXpendi
tLTe of Sal 100000.
Referring to the relationship claim.
ed between Muscle Shoals develop
ment and the fuel and TRANSPORTATION
emergencies, the report said:
"No electrified railway and no in.
dustry served by water power car
suffer suspension on account of fue'
supply, because hydroelectric power
both in its production and distribu.
ton, is practically free of all labor
troubles. Fuel and transportation
are the big national problems which
now distress our people, Muscle
Shoals, with the Ford offer accepted
may furnish an opportunity for the
Senate to discover how such fuel and
transportation emergencies Can be-
at least in part, avoided in the future
The report compared in detail the
Laid and Norris bills pending in the
senate. The Ford offer as represent
ed by the Ladd bill, the report said
takes the government out of the fer
tlllzer and power business" while
the Nebraska members bill sets the
government up in the fertilizer and
power business"
Inc Norris proposal requires direct
appropriation by congress of $64,-
100000, without including any esti-
mate for the proposed dams in the
upper Tennessee river, with no
guaranteed return of either the prin-
clpal or interest on same" it was
SAID. On the other hand, the report
argued, Muscle Shoals could be de-
VeIoped by Mr.. Ford under the Ladd
Dill by a government bond issue. if
desired, AS the interest and sinking
1und payments made by Mr.. Ford
VIII meet interest on such bonds and
retire them at the end of lease ne
Rod, except during the short con-
sTuction and power loading period )"
Danger of Great Losses.
Even those of Us who are in favor
OF government ownership and opera
ton, said the report, must concede
that the Muscle Shoals case is one
fraught with the gravest danger of
heavy losses if the government nm
dertakes to work out the fertilizer
problem there. No advocate of gov
ernment ownership and operation can
discount the fact that the Muscle
Shoals case is not a good one to Sc
Iect IN testing out the policy of gov
eminent ownership and operation
The dangers and the difficulties
many of them specialized and tech
meal, involving problems in the field
If commercial chemistry, warn us to
De conservative and prudent with the
peoples money at Muscle Shoals"
After reviewing conflicting tes+i-
nony taken by the committee on the
question Of how much present fer
Iiizer costs could be reduced at Mus .
lie Shoals, the report asserted:
Now since Henry Ford has the
ash and has offered to spend it to
leet these contingencies and dan
erous financial risks as we here de-
rribe. then, speaking for ourselves
.e are willing to let him have q
nance to do it, but we are not willing
Or the United States to have the
pportunity to engage in any specu-
tive industrial ventures"
"A fair consideration of all the
lcts,' he report declared, leads I'M
istakably to the conclusion that nm