The Lakeland evening telegram. (Lakeland, Fla.) 1911-1922, 1922-08-04
MINORITY REPORT OF SENATE
AGRICULTURE COMMITTEE PUTS
UP. SEVERAL STRONG ARGUMENTS


900, without including any estimate
for the proposed dams in the upper
Tennessee River" with no guaranteed
return of either the principal of inter
est on the same,". it was said. On the
other hand , the report argued, Mus
Gle Shoals could be developed by Mr..
Ford under the -Ladd bill, by a gov
ernment bond issue, II desired, 'as the
interest and sinking fund payments
made by Mr.. Ford will meet on such
bonds and retire them at the end
of lease period, except during the
short construction and power loading
period",
Even those of us who are in fav-
or of government ownership and ap-
eration." said the report. must con-
cede that the Muscle Shoals case Is
one fraught with the gravest danger
Of heavy losses If the government
undertakes to work out the fertilizer
problem there. No advocate OF gov
ernmeut ownership and operation can
discount the fact that the Muscle
Shoals case Is not good one to Sc
lect IN testing out the policy of gov
ernment ownership and operation. The
OF them specialized and technical.
involving problems in the field of
commercial chemistry, warn us to be
conservative and prudent with the
peoples money at Muscle Shoals"
!, An agricultural benefit to che coun
try by development of the Shoals prop
critics by Mn. Ford. the report assert
ed, will include a large scale produc-
ton Of fertilizers produced under the
most favorable manufacturing condi-
tions. maintained abreast of progress
in an art that is developing rapidly
and which will reduce the cost of
fertilizer"
After reviewing conflicting testi-
mony taken by the committee on the
question of how much present fer
tilizer costs could be reduced at Mus
Gle Shoals, the report asserted;
ITO our minds the evidence is con-
yincing that there are modern cleo
tro-chemical processes which, if ap-
piled at Muscle Shoals, will reduce
the cost of fertilizers but II there Is
any doubt on that score the United
States should stay out of the bust
ness"
"Mr. Ford has agreed to pursue a
plan of research and to adopt the
results from his Investigations which
will compel ihim to Introduce the
best available methods and he has
necessary capital to do SO.
1--WE, therefore, Delieve that among
the costly problems which Mr.. Ford
will have to solve at Muscle Shoals
will be the selection of the most eco
nomical nitrogen fixation progress.
and therefore 1t is conceivable that
Mr.. Ford will be obliged to either,
re-design Nitrate Plant No. q and
possibly scrap and rebuild the entire
nitrogen process equipment.
Now, since Henry Ford has the
cash and has offered to spend it to
meet these contingencies and dan
gerous financial risks.as we here de-
scribe them, then. speaking for our
selves, we are willing to let him have
willing for the United States to have
the opportunity to engage In any such
speculative Industrial ventures"
"A fair consideration of all the
facts" the report declared, 'leads un-
mistakably to the conclusion that un-
der the Ford offer the cost of fertili-
zer can BA materially reduced"
The report added that from the
present fertilizer industry the farmer
might expect but little in the reduc-
tion of prices.
These interests even declined the
opportunity to use the governments
nitrate plants free OF charge to them
land to. be allowed without paying the
government for the use Of them to
earn nine per cent on their invest
ed capital before paying the govern
ment anything and after nine per
cent was earned, additional profits
were to be divided equally between
these interests and the government,
| 1t said. How can these interests
\ Justly complain against the accept.
ance by congress OF the Ford offer
when he proposes to pay, $5,OOO,O ,OOc
for the same nitrate plants that these
interests declined to run free OF pur
tchase or rental cost, Mr.. Ford -agree
] ing to sell fertilizer at no more than
eight per cent profit"
LIkened to Niagara Falls.
| "Mr. F6rd's, offer will result In
development whose national value can
only be compared with the accom-
lplishment at Niagara Falls" the re
port continued. "The applications oi
\ electro o-chemistry and electro-metalur
4 gy have made the Niagara Fall hydro
electric Developments successful, and
In the same way It will take the
'lskill of the chemist and the metal
llhrnfaf forether with that of the by