The Baltimore County union. [volume] (Towsontown, Md.) 1865-1909, 1909-05-22
A WATER-PoWER TRUST.

A writer in the current number of
McC7uye'S magazine has got on the
trail of the Water Power Trust, which
he thinks will be the most colossal in
dustrial combination wherewith the
country has yet been afflicted unless
it be curbed in good time. Indeed
the trail of the monster had already
been scented by President Roosevelt
and laid bare in message accompa-
nying his veto of the James River Dam
bill. This message was regarded by
its author as the most important he
had ever sent to Congress, though his
judgment may have been at fault,
since his latest act for the time being
was ever overshadowing from his
point of view. The assertion that
thirteen related corporations or Gin
terests" had obtained control of one
third of the developed water powers
of the country, and that "this aston
ishing consolidation has taken place
within the past five years" would be
of tremendous import, if true.
Moreover, the sites controlled by
this combination are represented as
being the ones that offer the greatest
advantages, giving the holders "a
strategic position. !" The possibility
of monopoly of the character de-
scribed is overwhelming. We use in
our industries and in transportation
about 81, 500, 900 horsepower of this
approximately 26, 900, 900 is now gen.
Grated by steam. Our consumption
of coal doubles every ten years. and
even though our supply of fuel be
large enough to allay apprehension,
this source of power will be increas-
ingly costly as the more accessible
coal measures become exhausted and
deep mining is made necessary. AT
any rate, the cost per unit of horse
power is not going to be less, but is
far more likely to be higher in the
future. A cheaper substitute will be
a desideratum. Electric transmission
has made it practicable to bring the
power generated by falling water to
the factory or the traction engine
wherever located, and it is no longer
necessary to move the mill to the
waterside. At minimum stream flow
the country could draw $1,000, 900
horse power from its rivers. A total
of 23o, ooo, 900 horsepower could be
produced by the development of this
natural resource.
Estimating horse power to be
worth one hundred dollars, this total
development would be worth about
twenty three billions to the "interest"
dominating it and charging ''what the
tariff would bear" BY the side of a
combination controlling this resource
the Oil Trust would be pigmy, and
every industry in the land would be
in his grip. The evidence of the ex-
istence of a water-powe combine is
not very clear. 1t is perceivable
mainly in the identity of the direc-
torates of certain power companies
and the Government investigators
have grouped them in two classes,
having affiliations, respectively, with
the General Electric and Westing
house companies. There is ground
for suspicion rather than proof. 1t
would be Just as we'll, however, for
the States to be forehanded. The
Federal authority does not extend to
streams that are not navigable, and it
is on such that water-powers are most
ly situated. The regulation of water
rights and the conservation of the pub
lie interests therein would be much
easier before than after they should
have become vested In an all embra.
cling monopoly. -Rec01a.