Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1922-07-22

srse Most Wonderful plaa"-ser
eord.-Shswa W ~ Committee
After Thorough Investigation


Committee, condemns Henry Ford's
os.r for the purchase and lease Of
"a. governments warinitiated pro.
,se,s at Muscle Shoals. Alabama, in
Unusually strong language. while the
xsbra ska Senator's bill, proposing
development Of the properties under
a government owned and controlled
|eorporatlon. Is described as the most
rorasrful plan" that has ever been
proposed in the history Of the coun-
~
on tho question OF the Ford bid.
ne report says. Senators Page. Nc
Nar,. keyes Gooding. Norbeck. Har-
.ld and Mckinley. Republicans.
ard kendrick, Democrat. concur
,th the chairman. With reference
10 the government ownership pro-
,osal. the report gives the names of
s,e Senators. Norris. McNary. Good
ing Aorbecn and Mckinley. who
n,or its passage by the Senate for
re solution OF the Muscle Shoals
problem.
Because OF this lineup Of the com.
nl,,eemen, the report 10 character
i,sd as a minority opinion insofar As
!, expresses approval OF the govern
men, ownership bill but IL presented
as majority opinion insofar as
n doas with the rejection by the
committee OF al proposals for Mus
Gle shoals deVelopme
The Ford offer 10 dealt with in un-
,ariag terms. Its adoption, the re-
mort sa,s would put the govern
rert on the tinted states into bust
ross with a vengeance" adding that
rhnSe who ask Congress to accept
me Ford offer ask US. in effect. TO
ease ms property TO this corpora
ION without any real consideration.
.rl then in addition thereto, guar
,nies TO repair and keep and main
tse y In good condition for a pc
mol 81 ono hundred years"
IN s diHcuIt TO harmonic our
10, Of Nh. Ford's fairness" the re-
no., continues with his silence on
he s4u.ect. when his name is so
ohen used IN eXaggeration and mis-
representation as 10 Just what he
das orer 10 do The country has
bsep gwen 20 understand that Mr..
vorl has guaranteed TO reduce the
eos, 81 fertilizer by one half. He
has done nothing Of the kind. He
has made no guarantee OF any kind
n trs way Of the reduction OF the
eos, of fertilizer. The country has
s..a given to understand that he
r.,s the government four per cent
interest on - Investment in the two
dams He does nothing of the kind.
No las not made any such ofer and
no s4,h proposition is included In
h, h.d Giving his corporation
trt4t tor oAery dollar that II
tas he vii be paying TO the
n,rayers Ios than three per
e,a, on the money which he uses
og, Of the treasury OF the United
s,ates ana when we consider that
,his oan runs for one hundred years,
IN reautrcs even the stretch OF the
IMAGINATION TO understand the
proft that this corporation
',sg,res In this one item alone.
Assuming that fair interest
r,ts In the commercial world Is six
psr cent interest. this would give his
corporation during a hundred year
PERIOD. a total gift OF cold cash OF
s.3G $50 oo0 and II this money were
commanded as Mr.. Ford asks the
10 compound what he
rats the prort 10 the corporation
A, tbs end OF the one hundred year
period would he Si4.5W. Wn.ooo This
IL more than half our total cost OF
tie world var.
Tho country has been given 70
r-aef-and that the Ford offer pro-
,,aes FOR the repayment TO the gov
,fnment within the one hundred
year neriod the entire Investment
liza, the government has made. HIS
orsr does nothing OF the kind. On
ne other hand the total payments
in the offer OF both interest
.fd amortization. amount 10 Tess
than three per cent on the invest
inert and he never pays one dollar
Of the principal The people OF the
esun,ry have been led 10 believe
nat the FORD offer means a reduced
rrjce for electricity 10 the consumer
+ means nothing OF the KIND re
Nm not agreed 10 furnish SINCE
lfovat, 10 any home or 10 any man
r,se,uring concern except his own.
The mighty power at Muscle snoas
VII be devoted entirely and exclu-
,selv "a the use OF the great cor
rora,ion which Mr.. Ford Will or
rniyc
"Nnen We bring together the re-
quits that mus, foiiow from these
two divisions OF the Ford oner' the
mind IL dazed NJ the unreasonable
r,w Of the proposition. ut the enor-
rry 81 the gift. With the expendi-
tgre 81 no money there Is TO be
turned over TO a corporation proper
n Of the value OF more than S1Oo,-
enno0 and the right and privilege
10 sxtor, unjust profits from the citi-
VIZ 81 INNS country wth0us 1890
There /. nothing In the history
o. the world with which this can be
eompared. Civilization IL without a
PRECEDENT. II the Ford offer IL ac-
esr,ed. then the fight for conserNa-
tcb that has been waged by public
griied and patriotic men and wom-
sn an over the country IL not only
lor and given away. but those VINO
are unwilnngly compelled TO make
Pie gif, are 20 I've taxed one hundred
Years 10 make the Gift more proft-
abe 1, ia the greatest gin ever
Bestowed upon mortal man since
ssailon vas made free 20 the hu-
nar lace
u.hsr feature. Of the Ford pro-
THAT