With six pens and a happy smile President Roosevelt last week brought into being the Tennessee Valley Authority, another administrative engine for planned economy. Modeled after the Port of New York Authority, this independent Federal agency, with its own credit and its own crew, is to undertake what the President had called "the widest experiment ever conducted by a government"—the industrial development of a 640,000-sq. mi. watershed. Its domain starts in the wooded heights of the Cumberland and Great Smoky Mountains, sweeps down past Knoxville and Chattanooga, dips into Alabama at Muscle...
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