The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1899-01-17

,lature to determine whether the work
shall be completed as originally designed,
or whether the present plans shall be SO
modified rs to call for the expenditure OF
q less sum Of money without interfering
with the method of Treatment OF prison
ers which 1t is proposed to follow. These
statements are not intended to impute q
reckless extravaganza in the work already
done. believe that the strictest honesty
The buildings are models in simplicity of
design, and there is an absence OF elab-
orate and exteriol ornamentation calling
for useless expenditure | hope that the
Legislature win give earnest attention to
the matter in order that the interests of
the State may be served ana the inaugur-
atlon OF q great and beneficial work no
longer delayed.
There is another subject to which refer
ence can pc appropriately made at this
time, for II is one In the proper solution
OF which the public at large are greatly
interested. refer to the great and in
scfesslng value of franchises possessed
and exercised by corporations who rem
der public services for pay Ample proof
OF this value is to be found in the vast
increase in the amount of interest bearing
securities and stock issued by them. This
increase IN value is due TO many causes.
Among those that readily suggest them
selves are the rapid growth Of our cities
the diminished cost of constructing and
EXTENDING quasi public works, and inven-
tons that facilitate and at the same time
decrease the expense of operation. Cor
porations which supply public necessities
IN THIS state have been capitalized in re-
cent wears at many times the cost of their
property, and vastly in excess of what it
mitted that the public have derived great
Woul9 cost TO reconstruct them. 1t is ad-
cement from the growth of these corpora
Jions IN the way of better service and
lower rates, but this benefit, 1t is estimat-
ed, IS less than 1t might have been if
osnlgatlons mad not been unnecessarily
IN hrn dc fccrt cd
70 represent the estimated value of the
franchises enjoyed 1t is not the policy
OF these companies to pay large dividends
on their stock but rather to find reasons
from time to time for increasing issues of
thelr bonds. These are often widely dis
trlbuted among small investors, and
thereby such transactions are rendered
more secure. Ii the charges are true and
there are good reasons why past pro
ceedings of this kind cannot be undone,
1t is all the more important that they
should be regulated in the. future.
We all fully realize the Importance of
dealing with this matter in a conserva-
tive spirit. The prosperity of a State de-
pends largely on the security which it
gives to the capital invested therein.
Those obligations however which are is
sued for the estimated value of fran
chise do not properly represent capital,
II that value is based upon receipts from
excessive charges made for public SER
vice. Popular discomfort has led to much
unwise and Injurious legislation on this
subject in other States. We should profit
by the mistakes that have been made,
and devise some just and effective reme-
dy, If one be needed. In some of the
States maximum rates have been arbi-
trariy fixed by statute, but this is
crude method of dealing with the prob
lem, and often unfair in it's application
to the differing conditions of various To-
calities. A rate that is reasonable in one
place may be unreasonable in another.
In other States, commissions have been
authorized by. law to fix rates after
semi-judicial investigation of conditions
in each particular case. Experience has
shown, however, that it Is difficult to con-
fine such legislation and proceedings
within rational bounds. In several in
stances rates thus fixed have been so
Inanifestly unfair that the courts have
been constrained to enjoin their enforce
ment in order to prevent confiScation.
questions that are not properly of ju-
dicial character, and it would be unfor-
tunate, indeed, If this State should be
compelled to enact laws of the kind re-
ferred to in order to find a remedy for
the alleged evil. IF legislation is to be
enacted it should be only after full in
vestigatfon into all of the facts and
should be free from the objectionable fea-
lures which / have mentioned.
Events which have been most notable
in the history of our country have trans
pired since the Legislature last convened
A war has been waged and brought to an
Z. v
on land and sea, the most splendid in
the history of the world, have been won.
Our brave soldiers and sailors knew not
single defeat. For them no odds were
too great-no difficulties brought dismay
Important and lasting will be the infiu-
ence of the contest thus waged. We are
now, as never before, respected as pow
erful and a Just people-fearless in the
cause of right; forbearing in time of vic
tory. Henceforth our place is prominent
in the councils of the nations. New con-
ditions confront us; new problems de-
mand solution; but we meet them cour-
ageously. A special significance is to be
found in these momentous and swiftly
passing events. Our national spirit has
been quickened and our people united in
sentiment. Old prejudfces have disappear
ed and old wounds have been healed. No
section, no class, has yielded to another
in display of loyalty and devotion When
the honor of the country was at stake
and its safety was threatened there
came from all over this broad land an
eager response to the summons to arms.
Today, as citizens of one State, we can
rejoice with the citizens of other States
over the victories won and the honors
achieved and gladly share with them the
glory that belongs to all.
New Jersey has cause for special pride
in the zeal and patriotism shown by its
Quick and in numbers greater
than allotted. was their RESPONSE to the
call for soldiers, and bitter was the dis
appointment of those whose eager proffer
of service was refused. whether on land
or on sea, New Jersey soldiers and sail
ors so demeaned themselves that honor
and credit came to the State. For
fidelity, for intelligence, for willing and
patient service, during trying times
and under ulscouraging circumstances,
they pre-emiently distinguished them
selves, and by their conduct won the
commendation of ALL To them is due
all honor, and from the people of the
State a grateful recognition of their valor
and PATRIOTISM
Many. if not all of them, have made
unusual sacrifices. Their continued SER
vice has entailed upon them, and upon
those dependent ON them for their sup
port, unusual hardship and burdents. The
compensation which they have received
from the national government, limited
as it Isl cannot be expected to fully re-
inburse them for their financial losses.
In what especial way. whether by
pecuniary eompeA sation or otherwise, the
State shall make recognition of their
sacrifices is for the Legislature to. deter.
mine In the justice and the wisdom of
its conclusions i have every confidence.
pledge to serve unseffshly and without
wealth. 1 shall to the utmost of my
mower and with earnest purpose endeavor
at all times to guard their interests and
promote their happiness. In my efforts
/ bespeak the generous aid and support
of my fellow-citzens and look for
guidance and help to the Supreme Ruler
of all nations