The Idaho Republican. [volume] (Blackfoot, Idaho) 1904-1932, 1922-02-23
APPLIES MUSCLE SHOALS
10 AMERICAN FALLS

Editor E. X. Torrance OF the
American Falls Press is one of the
] few Idaho editors who IL both q
students and worker. He, also has
the distinction Of taking a high clear
view of things and reaching con-
illusions based on principle. rather
than upon some passing need. If
Edmund Burk, the English states
man of a century ago were speaking
Of 1t he would say that Editor Tor
rance does not stoop to expediency,
but keeps on high ground with his
reasoning. People who read his
paper find several thoughtful articles
in each issue, and the following
article taken from his paper is his
application of Muscle Shoals talks
and arguments to the problem Of the
American Falls storage reservoir:
How Henry Ford Would Build
Our Dam without Cash
Could Henry Ford have his way
It ought to be simple matter to con-
struct the American Falls dam. He
would follow the same plan no doubt
that he proposes to follow should he
obtain control of the Muscle Shoals
project with its 100000, 900 neces-
sary outlay for completion. 5,ssyss
Henry would say that we have 4
river here capable of probably irri-
eating 100000 acres Of land and
developing thousands of units of
horse power. IT will be here as long
az there are rains and mountains to
send the rain into the river. This
energy is wealth in its most produc-
tive form. Now which is more i'm
Tperishable, the more secure, the dam
and power site and its development
Or the few barrels Of gold necessary
TO make $10,o00,000? This site
With its power and irrigation pos
sibilities will be here long after the
treasury building is an ancient ruin.
Should the government decide to
raise this money the customary way
would be to issue thirty-year, 4 per
cent bonds for $4,000, 1000. Inter
est at the end of that period would
amount to 120 per cent or $12,000;-
900 making the total cost of the
dam $22,0O0;OO0. And all the time,
says Henry. it is the governments
own money, own resources. The
government first gave credit, then
must pay for the use of what it gave.
Then Mr.. Ford would continue.
Nov see way by which our
government can get this great work
completed without paying nickle to
the money lenders. It's as sound as
granite and there's just one thing
hard about it.; its so simple and easy
that, maybe, some folks can't see it.
1.-THE government needs $40, 000,-
600. That's 5OO, 900 $40 bills. Let
% the government issue those bills and
with them pay every expense con-
nected with the completion of the
dam. The dam completed we can
set the whole works running and
within a shorter time than you
imagine the entire $10,000,O0O cur
rency issue can be retired out of the
earnings of the plant" a +.
The question then arises, Sup
pose the contractor would be UNI
willing to accept that kind of cur
rency in payment" -
Mr.. Ford answers, There's not
that kind of suppose in the situation
at all. He would take government
bonds in payment wouldn't he? Ger
tainly. Here Mr. Ford pulls a
twenty dollar bill from his pocket
and says, Gle wouldn't hesitate to
take this kind of money would he?
Well, what is there behind this. bill
that makes it acceptable? Simply
the good faith and credit of the
American people. And $40 bills is
sued by the government to complete
this great public improvement would
have pust as much of the good faith
and credit of the American people
behind them as any bond or other
American. currency ever issued. And
the security would be an indestruct-
able source of energy that would
grow more valuable as years
progress.