New-York tribune., 1910-02-14
rrr,o,. Tn. -rih,,n. Rureau. /


Washington Feb 1S.-Tn his speci''
message 10 Congress Oh the conservation ol
natural resources President Taft pithus te-
marked that the problem was how TO ss1N
and how TO utilize, how 20 conserve "N
still develop. The comment apphes W."
peculiar force 10 the public utility Oh
powers and their government resuia'i
NJ. q. Leighton. chief hydrographeF oi INC
Geological Survey. has Just TRANSMITTED W
Congress 4 most interesting report on 'is
important problem which has grown Wen
nigh to maturity within ten years WIN
Mr.. Leighton's report is paper prepared
h NJ. Rene Taverner, the ois1ils uisheo
chief engineer Of the Department Of Pub
lie Works of France. which contains an en-
haustiye discussion of the treatment of this
economic question by the French and
Swiss republics and the kingdom of Italy.
Mr. Leighton sounds a call to arms and
admonishes national and state legislatures
that a proper solution of this problem in
wolves the productive leadership OF the
United States He points out that the
waterpower sites of Europe are situated
close TO the great markets of the world,
and says that as trade and production are
entirely cosmopolitan the menace TO Ameri-
can industrial leadership will prove seri-
Gus If this government postpones rational
and legal measures for waterpower devel-
opment.
The general public has only most hezy
grasp of the water power question It's
perplexities from legal point Of view
and its difficulties from practical point
of view are not generally understood. The
average man believes that the ownership
OF q water power means unlimited wealth.
Mr.. Leighton points out that the problem
has two sides. He says that hydro-elec-
trio properties have not, as Il class, re-
turned TO the investor succession of
swollen dividends, but they are subject 10
the same exigencies as are other indus
tries. Except in few cases" he con-
tinues. Notwithstanding the testimony
Of many popular magazine articles. it
bears no resemblance to Aladdin's lamp
as a revenue producer. No industry will
respond more readily TO ill advised and
oppressive Legislation: in none must the
burden fall more directly on the ultimate
consumer On the other hand, Mr.
Leighton points out. there Is real men
see in the present situation. Certain con-
solidstions have taken place in the last
few years which point TO a concentration
and ownership and administration In sew
eFal groups, The menace lies not so much
In the probability OF consolidation as IN
the ability of such a combination 10 ma
nlpuiafe unrighteousiy the public inter
ests- After calling attention TO the fact
that consolidation. is inevitable inasp,uch
as water power is q natural monopoly, Mr..
Leighton declares that the pressing 9uss-
ton now is Legislation which. while pre-
venting power monopoly, will not prevent
power consolidation lest II injuriously af-
feet industrial development There IS no
virtue In preventing consolidation if econ
onhies in maintenance and operation ere
therShE prevented he declares NO one
viii deny that water power consolidation
secures distinct and unusual economies
and If the consumer receives the benefit
fherefrem he is better off under consolida-
ton. The proper solution Of the problem
must lie in the legislative regulation Of
water power development and maintenance
10 the end that the consumer shall nav a
fair and reasonable earning on the capital
invested"