Los Angeles herald., 1910-07-13
PUTTING THE THUMB
SCREWS ON US

V lations in his annual message of
the predcament the city is in
with respect to the aqueduct enter
prise appear to give color to his state
ments made some time ago that there
is a very sinister influence behind the
ballxy bond buyers of New York who
have rather suddenly professed to find
their market tight.
Those who have been watching the
rapid concentration of wealth in the
hands of the country's captains of
finance in the metropolis have not
failed, if they have given any thought
full study to economies, to apprehend
some such situation as confronts Los
Angeles today. So interviewer in our
complex financial and industrial struc-
ture are all the great American public
service enterprises whose chief object
is making money that to threaten the
injury of one is to find that it has, if
not a more intimate relationship, at
least a cousinship with the others,
and that its influence with the sources
whence money is obtained for any
large undertaking is something to
reckon with.
The investments OF the Morgan, the
Rockefeller, the Widener and other
groups ramify to an astonishing eX-
tent, as witness, for example, the at
tempted Guggenheim steal in Alaska.
The smaller operators or brokers dare
not for their life offend the princes Of
the money world, hence the country
finds itself today at the mercy of a
few great dominating personalities and
their agencies. So it is entirely prob
able that certain large interests right
here in Los Angeles have been able
to persuade the great men of New
York to apply the thumbscrews to this
city; or if not directly that. then, as
the mayor suggests, the self interest
of these New Workers may impel them
to put off as long as possible, so far
as 1t lies in their power, the compile
tion of a great enterprise like the
aqueduct, with its municipality owned
light and power. and the harbor, with
its serious competition with railroad
extortion.
The public utility princes will not
relish the example of great city sup
plying light, power or transportation
at prices that will reveal their own
extortionate charges. In their eyes the
Los Angeles way of popularity furnish
ing these necessities is rank Social
ism" and dangerous to sacred vested
interests in exploitation, only they
don't call it by that name. It is not
improbable that this is at the bottom
of the situation here today. Certainly
the bond buyers attitude gives color
to the theory. The power they OBJ
tanned over us through a jug-handled
contract that binds us tightly and lets
them out if they please they are ex-
ercising almost with arrogance, and
little mercy from them can be ex-
pected after a reading of their pro-
posaIs.
1t seems clear that Los Angeles
must pull herself out of the hole. That
she will do so more than creditably
appears now probable, and if so she
luminous example of the remarkable
Los Angeles spirit that is becoming
worldfamous. 1t is a safe wager that
the great aqueduct organization,
which has astonished engineers with
its efficiency and accomplishments,
will not be permitted to go to pieces.
This enterprise, with its immediate
and eventually vast income, must be
pushed to the speediest completion
possible, and when it is finished and
the story of the bond hold-up is
learned in its full significance by the
world it will prove another mai in the
coffin of the money trust.
In his message Mayor Alexander
also reviews, with natural satisfac-
ton, the civic progress made under
the Good Government administration.
What that has been the public was
reminded in the educational campaign
just closed, but it is pleasant reading
again.
There will be popular Endorsement of
the mayors praise Cf those citizens of
ability who have unselfshly given of
their talents in the commissions and
other branches of the city government.
There are few great cities in the world
that can equal them, number and
quality considered. That distinction is
their reward, and it is after all a great
one.