FORTRAN was defined a few years before IBM 704 (in 1954).
The use of 1-based indexing was just inherited from the index notation used for vectors and matrices in most mathematical journals at that time.
When IBM 704 was designed (as the successor of IBM 701 and taking into account the experience from IBM NORC), it was designed to allow an efficient implementation of FORTRAN, not vice-versa.
The column-major ordering of FORTRAN allows more efficient implementations of the matrix-vector and matrix-matrix products (by reading the elements sequentially), when these operations are done correctly, i.e. not using the naive dot product definitions that are presented in most linear algebra manuals instead of the useful definitions of these operations (i.e. based on AXPY and on the tensor product of vectors).
The use of 1-based indexing was just inherited from the index notation used for vectors and matrices in most mathematical journals at that time.
When IBM 704 was designed (as the successor of IBM 701 and taking into account the experience from IBM NORC), it was designed to allow an efficient implementation of FORTRAN, not vice-versa.
The column-major ordering of FORTRAN allows more efficient implementations of the matrix-vector and matrix-matrix products (by reading the elements sequentially), when these operations are done correctly, i.e. not using the naive dot product definitions that are presented in most linear algebra manuals instead of the useful definitions of these operations (i.e. based on AXPY and on the tensor product of vectors).