The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1922-07-21

clamoring at the doors of congress
for a modification of their leases
and the extension Of the time from
fifty to one hundred years. II we
make a hundred years lease to Mr..
Ford's corporation, are we not IN
honor bound to make one hundred
year lease to Mr.. Rockefeller's cor
! poration? II cannot be claimed In
defense that we cannot afford TO do
this because Of the confidence which
the American people have in Mr..
Ford, and the . lack of confidence
they have in some of his CO multi
millionaires We are not dealing
with men, we are dealing with a
corporation as unrestrained and as
unlimited and as unregulated as any
pirate that ever sailed the seas.
Mr.. Ford will have at best but very
few years Of connection with this
corporation, but Notwithstanding
lenient with a corporation organic
ed by one man than another"
The document asserts that Mr..
Ford is not claiming many things
claimed in his behalf by many OF
those who are spreading the won.
derful propaganda over the country
demanding that congress shall ac-
cept his offer"
Estiru ates Of Payment
IF there were no other reason
for rejecting this offer" the document
adds, 1T ought to be rejected for
this one provision alone, and If it is
accepted with this provision in 1t,
then congress ought to lay down the
bars and permit any organization
organized by any other person to
have the same privilege and the
same right of a lease for one hun
dred years Of complete and unregu-
lated control Of power developed
from our nayigable streams"
1t is estimated that total amount
paid by the Ford Corporation by
amortization during the one hun
dred year period would be only $4,-
36S,39S, and the rate Of interest
paid by Mr. Ford on the money pro-
vided by the Treasury is shown to
be 2.79 per cent rate more than 4
per cent.
The statement is made that the
government cannot afford to enter
into the loaning business at the
expense Of the tax payers and for
the enrichment of a great corpora.
ton that under the very terms OF
its offer will be beyond the regula-
ton Of either Federal or State auth
whether the steam plant at Gorgas,
Alabama. should be included among
the properties to be disposed OF at
Muscle Shoals. the report says, in
part:
1T is quite apparent that since
ample power now exists at Muscle
Shoals there is no object in the
government retaining Its interest in
the steam plant at Gorgas. 1t has
no connection whatever with the
permanent use and operation of the
plant at Muscle Shoals. 1t would
be wise for the government to re-
claim that part OF the transmission
line that runs from Waco Quarry to
Muscle Shoals, in order that power
may be transmitted firm Muscle
ShoalS>to the Quarry for the opera
ton of the machinery there. Outside
of this, there has been no reason
given by anyone why the Gorgas
plant should be retained by the gov
eminent 1t ought to sell its inter
est In that plant and 1t is quite
apparent that the Alabama Power
Company can afford to pay more for
the governments interest in this
1t is immaterial whether that part
of the contract with the Alabama
Power Company, providing for a
sale to that company, is illegal or
not. The government should make
the sale and should insist on secur-
ing fair price for the value of its
interests"
The Senator Norris Bill
-
proposing government development
and operation for the Muscle Shoals
projects, the. report contains a re.
who, it says, are seemingly de
termined to turn this porperty over
to Mr.. Ford or absolutely prevent
its development by anyone" Seven
members of the agricultural COM
mittee who voted for the favorable
report of the Ford offer and opposed
a favorable report on the Norris
bill are mentioned in this connec-
ton.
With them" the report says, 81,
seems to be Ford or nothing. When
we take into consideration the won
derful development that it provided
in S. 1920, (The Norris Bill), parti-
cularly for the south, It is difficult
to understand how Senators from
that section can assume such an at
titude. -.
in this bill there is offered to
the country and particularly to the
southern states, the most wonderful
plan for the development OF power
on the Tennessee River and its dis
tribution over the southern states,
that has ever been proposed In the
history of our country. and IL is diff
ficult to understand how represen-
tatives from that section e1uld block
any progress of this kind and in
sist that this great property should
be turned over practically without
consideration to one corporation and
that the power on the great Tennes-
see River should be leased for 100
years without regulation and with
out restriction"
Pointing out that only five of the
sixteen senators on the committee
acquiesced in that part Of the report
commencing the Norris plan, the
eport continues in part.
Norris Plan More Favorable
I'm comparison with its (the Nor
his plan) provision regarding ferti-
lizer, the Ford offer sinks into alb
solute insignificance. It offers the
greatest hope to struggling agricul-
provements must be made II we
would cheaper the production of
fertilizer, and it provides for the use
Of the government property and
funds to make the necessary in
vestigation for such improvements.
In advocating its passage we hold
ont No will. n the wish tn dacaiye