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thompsonx -> RE: The Bain of Obama (7/25/2012 10:43:41 AM)
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quote:
So, it was NY State Government that hired him to harness electricity at Niagra Falls. That was your statement, wasn't it, to which I replied?
Now, the Niagara Falls Hydraulic Power and Mining Company. Is that government? If you say yes, please be so kind as to source.
It really does seem that you guys fall all over yourselves to find some connection to government to which you can say - SEE! SEE! Without government...
Why is it that you post a link that you do not seem to have read. It not only does not prove what you claim it does but it specifically points out that your post is full of shit.
http://library.buffalo.edu/libraries/projects/cases/niagara.htm
The property was acquired by the state through eminent domain (private property taken by the government for use by the general public)
It was then tranfered to private ownership for private profit.
"New York City banking interests were becoming intrigued, and by 1889 an option to purchase the tunnel company was acquired by a group consisting of William B. Stetson, attorney to mogul J.P. Morgan; Edward B. Wickes, identified as "a Vanderbilt man"; and William B. Rankine, a New York City attorney who had recently relocated to Niagara Falls in the prospect of substantial involvement in the Niagara project. Part interest in the project was offered to the New York City banking firm of Winslow, Lanier & Company--Charles Lanier was a good friend of Morgan's--which delegated Edward Dean Adams, a partner in the firm and a director of the Edison Electric Illuminating Company, to conduct an investigation into the merits of the enterprise. Morgan, incidentally, also had substantial interest in the Edison enterprises.
Then in 1889 and 1890, in a complicated series of legal/financial transactions, the Niagara River Tunnel, Power and Sewer Company was renamed the Niagara Falls Power Company, and the Cataract Construction Company was formed as a holding company to own the entire capital stock of the Niagara Falls Power company and act as its financial agent. Adams was named president of the Cataract Construction Company and a director of the power company. Stetson, Wickes, and Rankine were the other officers of the Cataract Company, whose board of directors included John Jacob Astor"
A mere six years after the govt. took private land, it passed it's use on to private investors. These investors did not spend their own money to acquire the land. They did not use their own money to do the construction...they held all of the capital stock and the land was the security for the construction loan.
How are these people risk takers?
quote:
You leftists really are all about government. Nope, couldn't do squat without government. No one does one damn thing lest someone else, even vaunted government, made it happen. Damn parasite would die but for the host.
You wil note that electrical power for domestic use, while touted as a selling point, was actually a miniscule portion of the power that was produced.
"The first use of Niagara Falls Power Company electricity was by the Pittsburgh Reduction Company (later to be renamed Aluminum Company of America), which used an electrolytic process invented by James M. Hall. The company was founded in Pittsburgh in 1886 but transferred operations to Niagara Falls during this period because of the prospect of cheap and reliable electrical power.
The second electrochemical industry in Niagara Falls also transferred from the Pittsburgh area. The Carborundum Company produced the extremely hard silicon carbide compound using a process invented by Edward G. Acheson. Founded in Monongahela, Pennsylvania, in 1891, in that year the company used 135 horsepower of electricity to produce 45 tons of product. Its contract of 1894 with the Niagara Falls Power Company was for 1000 horsepower, with which it increased its output twenty-fold. Within a decade, the Carborundum Company was using 5000 horsepower of electricity.
A decade after the startup of the power company, the Union Carbide Company was using 15,000 horsepower, the total production of the original three generators. Union Carbide produced calcium carbide, which was used to produce acetylene gas. Union Carbide eventually came to incorporate several other Niagara Falls industries, including the Electro-Metallurgical Company, National Carbon, and Acheson Graphite. The graphite production process was a serendipitous offshoot of Acheson's carborundum process. The pure graphite was used to make high quality electrodes needed for the electrochemical and electrometallurgical industries.
Other uses of electricity in Niagara Falls were for production of basic chemicals such as chlorine and caustic soda, and ferro-alloys using chemical elements such as titanium, vanadium, tungsten, and molybdenum.
In Buffalo the electrical power was used in grain handling and processing, iron foundries, machine shops. Through the first half of the twentieth century, the biggest industries in Buffalo were grain milling, iron and steel production, and all varieties of manufacturing from hairpins to airplanes.
Subsequent power production facilities would supplement and replace the original facilities. The present plant on the American side, operated by the New York State Power Authority, provides about 2.5 million kilowatts (which in the twentieth century came to replace the system of measurement in horsepower, 2.5 million kilowatts translating to 3.3 million horsepower). The plant on the Canadian side, operated by Ontario Hydropower, produces another 1.8 million kilowatts. The electricity is transmitted at 345,000 volts over a power grid that covers the nation and the world and is the ultimate legacy of the Niagara innovations."
Government seems to be the prime mover in this case.
Big bussiness seems to be the prime recipient of the benifits.
Thank you for linking us to the data which proves your post are filled with disingenuous,puerile, insipid half truths and whole lies.
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