The news-democrat. (Providence, R.I.) 1906-1909, 1906-08-15
Continued from page one.

COntlnueu from page o'e.
The more East Side taxpayers discuss
the reported ultimatum OF Marsden ].
Perry and the Rhode Island Company
regarding tunnel under College hill. the
greater grows the dissatisfaction and in
drgnatlon over what they term the latest
grab" game of the traction company.
The general comment is TO the effect
that the evident purpose OF the Rhode
Island Company is entirely 10 cloud the
issue by wholly reversing the position
that should be maintained by the cltS
I'm the matter Of SO important public
Improvement: and the East Siders assert
that this seems TO have been the policy
OF the city council committee from the
outset
Instead of the city determining that
il will build a tunnel. and then submit
ting TO the railroad company reasona-
BILE and equitable proposition for It's use
OF tho new public utility on rental
basis the Rhode Island Company is asked
by the city council committee what is It's
pleasure: and, not daring longer TO hold
out against the universal popular de-
mand for a tunnel, the corporation says
IL will construct "A tunnel and use IT, II
the city will loan IL the money for the
purpose for a period of 80 years
This only raises the old question"
East Side today, whether the taxpayers
of Providence own the city and have the
right TO conduct their own affairs, or
whether Marsden J. Perry and the Rhode
Island Company are the proprietors OF
Providence"
Just see the monstrous nerve OF this
proposition OF Perry's,' said former
city official. Here is a public utility of
tremendous value to be bult-what would
fbnr
cities, one of this city's most valuable as
sets.
Mr. Perry wants the city to furnish
him the money to construct IL. without
paying anything for the accommodation,
and then let him have the eXc1usVN use
of IT for fifty years without paying one
penny OF compensation therefor In addi-
ton to the present paltry five per cent
of profits, and then let his corporation
continue forever to own and use IL free
Sounds very much like the perpetual
franchise steal. doesn't il, only ten times
worse If possible.
THE newspaper controlled by Mr.. Per-
ry. which of course is simply voicing his
dictated sentiments advances the theory
that, as the railroad company would I'm
the end pay for the tunnel, that inn
menscly valuable public utility should of
course become It's property.
That's "A part of the game to distort
the situation and blind the taxpayers TO
what should be the real relations between
the city and the traction company.
Suppose the city by bond issue raises
the money to build the tunnel, as IL
should do. 1t does SO TO add a tremend-
ously valuable new utility to its assets
Then, suppose the Rhode Island COM
pany pays to the city annually an amount
sufficient to meet the interest on the
bonds and to retire them as they mature
That is not purchase money at all. 1t Is
simply rent paid by the traction company
to the city for the exclusive use of the
cty's tunnel. which forever should be the
city's property.
"The city doesn't sell the tunnel TO the
corporation at all. IL simply charges the
corporation rent for the use OF the tun-
mel; and. instead OF seeking an
actual immediate profit the same
as any private owner OF real es-
tate would do. Il fixes that rental al
only what IL must itself pay out annually
and within a reasonable period of wears
receive back all II has expended and af-
ter that continue To receive a rental TOR
the use OF this public utility. which by
that time will bc even Immensely more
valuable than now.
THAT makes II look very different.
doesn't it2 And it's just that view of the
matter that Marsden j. Perry doesn't
want the taxpayers To see. and which hC
expects the city council. which is sup
posed g. carry ont his will To ignore.
The taNpaycrs should keep In mind
this Important fact, aud should not let
the city council escape ~. that the city
intends 10 have valuable piece ~ prop.
erty 90 lease to the Rhode Island com
pany-not that Mr.. pcrTy's corporation is
TO buy property Of the city. built by the
city. with the citys money. without pay