The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1906-08-07

:. WATEREO
STOCK

New York Aug. 3.-The World
prints an authorized interview with
jurist, who is likely to be nominated
for governor by New York Democrats.
if Hearst does not control the conven-
tion, in which Justice Gaynor discus
ses many of the problems now upper
most in the pul,iic mind.
One important portion of the in
terview is devoted to street railway
franchise questions, such as is now
uppermost in Cleveland, where the
street railway company is asking for
new franchises on basis of about
S20,0OO,O00 of watered stock and
bonds.
WATER A CRIME.
Justice Gaynor says: The case of
issuing bonds and paper stock on the
franchises of public service corpora
tions over and above the actual in
vestment under them is demoralizing
and injurious to society.
In this way vast unearned for
tunes are being accumulated in a few
hands from year to year. Just look
Mt what has been done with the public
service franchises in New York, and
you have what has been done in ev-
cry locality in the country, creating
demoralizing unrest and lack of faith
in government everywhere.
Government which should permit
such thing to continue-the constant
accumulations of vast unearned for
tunes out of the people by means Of
the license and franchise of govern
ment-could not in the nature of
things, and in Gods common honesty
tndure
"The minds of intelligent people
are set against his evil and not to
be swerved until it has abolished and
Ats recurrence made impossible"
Discussing Americas prosperity,
Justice Gaynor says:
Prosperity is the highest produc-
tfon of useful and agreeable COM
modities the community is capable Of
consistent with the physical, intellec-
tual and moral health and growth of
its members accompanied by just
distribution of the total product
among the producers.
This does not mean share and
share alike, but according to the fair
and honest productive capacity of
each, whether it be physical or men
tai or both.
mo matter how great the total |
product, if you have not a just dis
tribution of it you have not pros
perity, nor can you have general con-
tent.
THE SWEAT OF MANY.
"The unjust ACKNOWLEDGMENT of the
few out of the sweat of the many
is not prosperity even though the
many may not be in want.
IF laws and conditions are such
as to enable a few to get dishonest
ly an unreasonable larger proper
tion of the total product of industry
than they honestly earn, if they earn
anything, that is a government, not
of justice, but Of injustice, and cannot
In the nature-of things long endure
with an intelligent people, but only
with an ignorant and base people.
THEIR MINDS MADE UP.
% The people of this country have
finally made up their minds that they
will no longer suffer such a condition
10 be created and fostered by the
abuse of the pubic franchises of gov
ernmeht under which our public SER
Vice corporations exist
THE making of overgrown fortunes
by fayortism in freight rates, by is
suing paper stock and bonds on pub
lie franchises without regard to actual
investment of capital. and the like,
are doomed. If ii were not so, then
this government would be doomed.
But it is not doomed: it is entering
upon great future, due to the intel
ligence and sense of right coming
from our school,"