The Montgomery advertiser., 1905-04-14
a city attempts to rid itself of private

a city attempts to rid itself of private monopoly.
 It is better for a city to issue bonds at low rate of interest and for actual improvements than for a city to permit private corporations to issue bonds, based not upon investment, but upon the power of monopoly to extort an in- come from succeeding generations. Then, too, there is a very clear distinc
 tion between a debt incurred in the es-
 tablishment of a municipal plan which will yield an income to the city, and
 the mourning of debt which brings no specific return. MT. Bird s. Coler, late controller of the city of New York,
 has brought out this distinction and it
 is one that Is useful to the discussion
 of municipal ownership. A father who
 leaves to his child an incumbered
 plant which yields an income in excess
 of the interest upon the incumbrance,
 leaves him a richer inheritance than
 he would If he left him unimproved land. And so city can justify a large indebtedness if the money borrowed is expended on a plant which not only pays an interest upon the investment, but creates sinking fund sufficient to discharge the debt in d reasonable thus bequeath to the succeeding gen eration not an incumbrance, but an annuity.
 Furnish Guidance Now.
 And so the teachings of Jefferson, when studied in the light of his con
 trolling purpose. furnish guidance for
 us now, and will furnish guidance for ages to come. He built not for a day or for a century, but for all time, be-
 cause he built upon the solid rock. In-
 spired by the love of his fellows, he
 turned the training of a master mind
 and the energies of a still greater
 heart to the service of mankind. And although his contemporaries showered
 upon him the highest honors that man
 can give, he left the world his debtor
 beyond our power to calculate. No
 words or figures can measure the value
 of the gift that he bestowed upon the | race. Wherever men contend for hu- man rights his words strengthen and encourage, wherever patriots devote | themselves to the investigation of | problems of government, his researches | and his eXpositions illumine and direct | Every great forward movement bears | the impress of his thought, his words his work. He stands before the world | as the growing figure in the sphere of politics. Warriors have won fame up- | on the battlefield and have rearranged l with their swords the maps of nations but history affirms with Carlisle that thought stronger than artillery | parks" at last rules the world, and that back of thought is love"
 Jefferson's love for mankind was his controlling passion, and it extended to generations unborn. As we celebrate his memory on the anniversary of his birth: we can say as those could say who lived when he did, We love him | because he first, loved us."
 Mir. Williams Speech.
 MT. Williams took for his theme
 "eoual rights to all and special privi- l leges to none" The speaker was ac-
 corded a warm welcome by the ban
 auetters. He said:
 1T am here tonight with faith no; l shaken in the fundamental principle of | Democracy that there shall be equal
 rights to all and special privileges to
 none Were 1t merely to relieve those
 who suffer today, I plead for the en- | forcement of this doctrine. We have the
 breathing, pulsing body of man with
 which to deal. and 1t is no answer to him who suffers today that his death | tomorrow will be the seed of a right
 eous revolution. For my part I cannot stand idly by to await cataclism, while
 men. women. and children are suffering
 today. Were the laws good. yet uha- vailing, it wuld be otherwise, for we should be pOwerless; but when we
 know that laws are mOnstrous and cru
 el shall we wait for nature to bring
 order out of ruin?
 laws are made by man and can he
 unmade by man and the men who have
 made bad laws are bound to unmake them. These men are you and I. The