US Presidency
1910

If, however, the water-power sites now owned by the Government- and there are enough of them shall be disposed of to private persons for the investment of their capital in such a way as to prevent their union for purposes of monopoly with other waterpower sites, and under conditions that shall limit the right of use to not exceeding fifty years with proper means for determining a reasonable graduated rental, and with some equitable provision for fixing terms of renewal, it would seem entirely possible to prevent the absorption of these most useful lands by a power monopoly. As long as the Government retains control and can prevent their improper union with other plants, competition must be maintained and prices kept reasonable. In considering the conservation of the natural resources of the country, the feature that transcends all others, including woods, waters, minerals, is the soil of the country. It is incumbent upon the Government to foster by all available means the resources of the country that produce the food of the people.