The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1871-01-31

nay UccOme great
IN unequalled
alton is
of
living is not great.
tage to the manufacturer g.
market is present, and the in.
transportation already making will
ly counterbalance the present hindran.-
growth. Under these circums tances Maine
can afford to wait and to refrain from adopt
ing any policy of doubtful wisdom and legal
ity. Attention has been called to the advan-
tages OF the State by the admirable report OF
Mr.. Wells, and the cost OF the photographic
survey has been more than repaid by the in
terest already excited. There seems, however,
to be disposition to force matters. There
are numerous applications for authority to va
rious towns to subscribe to stock, to loan
credit, or to make an absolute gift of money
or bonds in aid of manufacturing enterprises.
The end sought is wholly good; the method
is wholly bad.
The example of Augusta, which gave abso-
lutely to the Spragues of Rhode Island some
thing more than 100000 in bonds in order to
induce them to buy the water power, facto.
ries and lands at the Kennebec dam, serves
as an argument to both sides in this contro-
versy. On the one hand it may be urged with
perfect truth that the step taken has had an
effect to raise values, to increase business and
to start into activity all over the State the adj
vocates of Introducing manufactures. On the
other hand it is Just as undeniable that none
of the extravagant expectations of the enthu-
,iastic citizens at the time the vote was given
lave been realized; that there has never been
10y obligation upon the Spragues to do any
ingle act that would build up Augusta; that
it is not just to put it in the power of a ma
jOrity to vote away the property of the M
nority for an enterprise which is not direct
or indirect advantage to all; and furthermore
that the legislature has no power to do so.
In fact the contest comes between theory
on one side and an example on the other. To
those who argue that the policy is unwise.
there Is the ever ready answer that ia the on
ly case where it has been tried the results have
been beneficial. This is, after all, specious
argument. If the policy is unjust to the min
ority, it is not made less so because in single
the injustice has been accompanied
with certain compromising advantages which
have lightened the burden. As to the power
to do any such thing, that is a matter for the
courts to decide, and we are amazed that the
State senate should have refused to pass an Or
der asking the opinion of the supreme court
on this point. If the general policy should be
entered upon, there would certainly be found |
men sufficiently interested against its applica-
ion to their own property to resist the taxa
lion and bring the question before the courts. |
It is every way better than should be decided |
in advance than after so great mischief has |
been wrought as in the Michigan railroad |
bonds case. We are glad to see that the |
house of representatives has requested an |
opinion on the point, The credit of a State |
and of cities is too precious thing to allow |
suspicion to fall upoE any class of its securi. |
ties, and bonds of the manufacturing aid class |
would certainly be SO regarded wherever they |
we're offered.
We are tempted 10 hope, in the interest of |
he towns of Maine, that the supreme court |
will decide against the legality OF the proposed |
cts. Otherwise we shall expect to see such |
collection of wildcat schemes, each with a |
veil organized and persistent lobby to urge it,
S has not been seen in New England yet,
Bona fde enterprises will suffer by association
With attempts at swindIing, and the ultimate
esult can be no other than postponement |
instead of a fastening of the true destiny of |
Maine,