The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1909-02-02

and acquired exclusive rights to de-
velOp this power.
Nine-tenths of these concessions
nave not been developed. Many of
them have been obtained for specula-
tive purposes. 1t has been easy to
secure such grants. Practically no
expense has been involved beyond
that of taking out. a charter and pur-
chasing or holding by option a small
amount of land. Congress. or the
State Government, in cases where the.
latter has exercised control, has been
only too willing to give concessions
and to make repeated extensions Of
the period for undertaking develop
ment.
If we are skeptical of the assertion
that this policy of granting unregu-
lated and perpetual control OF our
Water-pOwer will lead ineVl-
tably to the creation of powerful and
oppressive monopoiies in the prime
necessity of industrial life, or if we
desire specific illustration Of this ten
dency, We can find instructive evil
dence in several parts OF the
Perhaps the most Illuminating test1-
mOny as to the condition Of affairs
that will Obtain at no very distant date
in every part of the United States, IL
we continue our present policy OF
giving away Our heritage without re
ceiying even a mess of pOttage in re-
turn, is to be found on the Pacihc
Coast, and more particularly in Cali
fOrnia. The process of upbulldinS q
powerful trust controlling both the
sources of power and the markets for
its use, which has only begun in GER
~taintain parts of the Union, is we'll
advanced here. There are particular
reasons for this.
1t happens that California is one
of the richest of all the States in the
Union in its water power ~resOurces.
1t is estimated that the streams flow
ing down the western slopes Of the
Sierras in the northern part OF the
| State are capable of developing five
million horse power OF electric energy.
1t happens also that California is de-
icient in coal. The industrial. prog
! ress of the State must depend upon
the Utilization of water power. The
value OF water power IS enhanced YDy
the high price Of coal, and the energy
of a mountain stream is valued by
California's engineers at $200 a year
for each horse power. This makes
the power Of these Sierra water
courses worth the trifling figure OF
81, geo, O0O,96O a year This is a sum
worth having, the more SO II 1t may
be had for the asking, and there nave
not been lacking men of sufficient
acumen to ask for It. Consequently
California has reached the second
stage on the road to the creation of
a giant power trust, while many other
| States are still III the first stage.
Already some $4,000 horse power
is being developed from the rivers OF
northern California and is being used
in driving, trolley ears, in mining, and
in turnihg the wheels OF factories.
| Some of the most remarkable achieve
ments in the long-distance transmits
sion OF electric power are to be found
in this Pacific State. W~ater-poWer de-
veIop4nent has proved highly profit
able, and the promotion OF power
companies has won fortunes for men
who were early in the field. AS q
consequence of this profitable activity
there has been in the past few years
a great rush to secure power conces-
sions. Some few of these were Sought
with q view to actual Development Dy
those who obtained the grants. others
represent forehanded efforts on the
part of existing companies to shut Off
the possibility Of competition. Inc
great majority are speculative enter
prises pure and simple. Concessions
are obtained and are kept alive FOR
the purpose of selling out at q ols
IContinued on Page Twelve.