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Show APPENDIX J 307 The Dixon-Yates contract for the supply of energy by a private company in the tva. area has been attacked as implying the ultimate destruction of tva. Its immediate effect is not to reduce tva. }s present power production, but to limit its growth. The Boulder Canyon Project is in much more imminent peril than is tva. Essentially, the proposed Colorado River Storage Project implies the destruction of about a third of the value of the Boulder Canyon Project, in terms of water and power pro- duction, to enable construction of a new project in the Upper Basin which will generate power at twice the cost and irrigate lands at many times the cost of the power and irrigation furnished by Hoover Dam. We say that the water and power users of California, who have invested more than three quarters of a billion dollars upon the faith of their agreements with the federal govern- ment, are entitled to the protection of their stake in the Colo- rado River, both in Congress and the Supreme Court, against the fantastic projects proposed in the Upper Basin and in Arizona. The true peril is not merely to California, Arizona and Nevada, but to the people of the United States, to whom Hoover Dam belongs and who would be taxed- a billion and a half dollars to build the Colorado River Storage Project to withhold the waters on which the Boulder Canyon Project is dependent." |
