The problem of Muscle Shoals seems to me to have assumed a place all out of
proportion with its real importance. It probably does not represent in
market value much more than a first-class battleship, yet it has been
discussed in the Congress over a period of years and for months at a time.
It ought to be developed for the production of nitrates primarily, and
incidentally for power purposes. This would serve defensive, agricultural,
and industrial purposes. I am in favor of disposing of this property to
meet these purposes. The findings of the special commission will be
transmitted to the Congress for their information. I am convinced that the
best possible disposition can be made by direct authorization of the
Congress. As a means of negotiation I recommend the immediate appointment
of a small joint special committee chosen from the appropriate general
standing committees of the House and Senate to receive bids, which when
made should be reported with recommendations as to acceptance, upon which a
law should be enacted, effecting a sale to the highest bidder who will
agree to carry out these purposes.
If anything were needed to demonstrate the almost utter incapacity of the
National Government to deal directly with an industrial and commercial
problem, it has been provided by our experience with this property. We have
expended vast fortunes, we have taxed everybody, but we are unable to
secure results, which benefit anybody. This property ought, to be
transferred to private management under conditions which will dedicate it
to the public purpose for which it was conceived.