The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1892-10-26

conclusion the people would still be pro-
tected by this bill. It is subject to altera-
tions, amendment or repeal, and the
Governor has the power to call a special
session OF the Legislature at any time
and obtain its repeal. If l had decided to
approve this bill aud had subsequently
found that under it the companies had in
creased the price of coal, | should have con-
vened the Legislature and urged the repeal
of the law. lido not think. however, that ]
would be justified in leaving legislation
in such a shape that / might have to call
a special session to protect the interests
of the people. If it became necessary to
have a special session, it would involve
great expense to the State, and the repeal
of the act validating the leases might
leave embarrassing questions for judicial
decision. Pending the determination of
these questions the price of coal might be
increased and the consumer suffer great
h~ardships.
A CONTRACT NEEDED.
The wisdom Of insisting upon Legisla-
tive protection for the consumer, in any
bill authorizing a consolidation of the
character contemplated, has been deeply
impressed upon my mind by the fact
hat since the passage of this act the
market price of coal has been increased
to retail dealers, and in addition, the
officials Of the consolidated companies
have stated that there has been no agree
ment made that would prevent a further
advance in the price of coal. and that the
corporations could not make any such
agreement.
The question as to whether the price of
coal will be advanced is, therefore, left
almost absolutely with the consolidated
companies. Additional legislation would
be necessary, in my Judgment. to protect
consumers from the exercise of this
power to increase prices, il the orpora-
ton should deem it to be proper or ueces-
sary to Increase prices for the benefit of
their stockholders..
REDUCED EXPENSE CERTAIN-wHo IS TO
PROFIT?
The fact that the consolidation of the
railroads engaged in the transportation
Of coal aud other freight across the State
of New Jersey will materially reduce the
cost of such transportation to the COM
panies is certain. The consolidation OF
the roads affected by this bill will reduce
the expense of bringing coal from the
mines of Pennsylvania to tide water, and
the cost OF the individual will
be cor%respondingly reduced. 1t is here
that the most serious defect in the pro-
posed legislation is found. This reduc-
ton in cost is to be the direct outcome of
privileges granted by the State. and as
the power comes from the people, the saw
ing to be effected should be placed, at
least in part, to their credit. The bill
does not provide for this, and it seems
to have been generally understood
that, as a condition precedent to the APP
prevail Of this legislation, enforceable
State and the common carriers affected,
whereby the ~cheapening of the cost of
transportation would appreciably reduces
the price of coal to 1 have
carefully examined this question and am
~
satisfied that such contract, unless its
provisions were recognized and approved
by legislation, would not be binding upon
the parties. and could not be enforced.
Until proper steps have been taken for
the regulation of the cost of transporta-
ton and the protection of the
it would be unwise to confer the powers
sought in the bill.
In view of the failure of this bill to con-
tain provisions which will absolutely pro-
tect the consumer, and my decision that
a valid agreement for this purpose canno I
be entere d into without additional legis-
lation. I have determined to withhold my
approval of this bill.
Dated April 5, 1892.
LEON ALBEIT,
Governor.