The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1896-12-02

honestly, can be made to operate in
American cities, am not in favor of
municipal running OF cars. THIS may
perhaps come later. AS yet II would
be too great power in the hands of
corrupt politicians.
I'VE. in Detroit have become very
wary OF giving away franchises. The
people are becoming afraid of these tre-
,nendous interests growing constantly,
and which work solely for evil and COR
rupt politics. There are cities, which,
today, are bound hard and foot by
franchises which they innocently
granted many years ago. l believe that
the people in some OF these cities will
never get back what is rightfully theirs
at the expiration OF these franchises.
1T has been my lot to run up against
certain monopolistic corporations in our
city in trying to do what thought best
for the interest of the whole people,
and In consequence I have been repre-
scented as opposed to all forms of in
corporate capital. l am not so op-
posed. l see clearly that corporate
capital. in many forms of business
nowadays, Is beneficial and proper; but
l say emphatically that all corporations
which do business upon charters grant
ed them by the public for public pur-
poses and which by their very nature
| are monopolies. such as railroads, trac-
| tion companies. telegraph and tele-
phone lines. etc, should not be permit
ted to charge according to their own
sweet will, but should be under the
supervision and control of the people,
so that only reasonable and just rates
| be charged. There Is no uncertainty
| about street car Investments in large
cities. The business Is not as hazard
GUS as farming. A reasonable per cent.
upon the actual vale of the plant IL all
that should be asked for or permitted.
/ VIII not go into the argument why
low .street car fares benefit city and
its large class of working people. 1t
| is the pennies that count. The PEN
nies daily make many dollars yearly.
To a working man or shop clerk, 1t
is often a question of few dollars be-
| tween barely able to live and getting
along nicely. Low street car fares en-
courage manufactures and public
school education for children. 1t IA
vors the building Of homes and dis
courages tenement life. Electricity
has cheapened the cost Of operation
| and equipment 80 per cent In the last
| ten years. In private lines of business
everything has cheapened. 1t is only
monopolistic corporations which are
| able to keep up war prices, and their
| enormous profits are apparent when
| you try to buy their multi-watered
stock and see the amounts for which
they are able to bond their business.
1t is the right to operate which the
public gives away often for nothing.
which Is the main factor In values; the
plant is often not worth tenth of the
whole"
1t is proper to add that since the
| foregoing address was delivered Mayor
Il;nuraa xynp his Guht for a thrap- n
fare, the street car companies maxi
ing a complete surrender.
HIS FUTURE PROGRAMME.
| In speech before the Detroit Cham
ber Of Commerce in 1895 Mayor Pingree
went further into his views on the
issues. He there laid down the prop
osition, first of all. that there should
be no difference in the treatment of
individual capital and corporate capt.
tai An individual or partnership Is
required to do business upon actual
capital. The same rule should apply
to corporations. No corporation should
be permitted by law to issue stock
which Is not represented by actual
value This is especially true of public
corporations owning and controlling
public franchises. The evils arising
from what is known as watered stock
| are great. Ill OIutI W Saih ihtCiCSt
upon such stock. 1t Is necessary to
draw from the public more money than
Is required to carry on the business
with profit. Combinations are being
formed i'm all parts of the country, be-
tween street railway companies gas
| companies, electric light companies
telephone companies and other organ
izations whose life comes from the
body Of the people. and to the extent
that such combinations represent false
values the paying power of the people
who must support legitimate business
| Is lessened. If this system continues
in a short time the only profitable bust
ness will be the operation of public
franchises All manufacturing inter-
ests will be crippled. All mercantile
business will be injured. All trades
| will be cheapened, and there Will be
| established q class more dangerous
than any that has heretofore existed,
either i'm this or any other country
The following is a list of the reforms
which Mr. Pingree will fight for as
| governor of Michigan:
l. Doing away as far as possible,
with conventions for local officers, and
! giving the people themselves a direct
vote in primary elections for the nom
ination of candidates.
9. Two-cent fares on all the railroads
| of the lower peinsula.
g. Taxation of railroad property the
same as other property.
4. The application of the principles
| of the interstate commerce law to COM
merce within the State, to secure to
| farmers and shippers the advantages
of the campetition in places not hav-
| ing several lines of railroad.
). Submit to popular vote the grant,
| ing of street railroad and other quasi
public franchises as check upon the
corruption of aldermen and other city
| officials.
8. The suppression of trusts and
monopolies as far as the State can go
in that direction.
:. Laws against overcapitaliZation of
| corporations and swindles committed
| by promoters.
8. Laws against the coercion of vot-
ers, and particularly to prevent cor
polations of a public character, like
railroads and banks. exerting unlue