The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-10-19
New York Executive
Proposes Solution of
Monopoly Problem.
w 0 UL d ABOLISH
HOL DINGCONChRNS
New Mayor of Trenton Advo.
Gates Big National Bond Issue
for Immediate Carrying Out
of Waterways Plan-Presi-
dent Moore D elivers
Comprehensive Address.

| Favoritism condoned or permitted
by the government Is responsible for
the formation and successful oper-
alton OF monopolies wnicn throttle in
| oivldual business enterprise and ciog
the wheels OF commerce. in the opinion
OF Mayor William J. Gaynor, OF New
| YORK, expressed in mis- aucress before
the Atlantic Deeper Waterways Asso-
citation In this city yesterday This
discrimination, he asserted. Is just as
rcprehensble when directed against a
| community as against an Individual
patron OF the railroads of the United
States
The address of Mayor Gaynor is
likely to arouse public attention In
that IL treats the problems OF railroad
| rebates and of trusts and OF neces-
| sary legislation from a somewhat new
standpoint Beginning with the propo-
sition that the intracoastal waterway
project is SO plain that its advantage
| 10 commerce Is obvious, the Mayor
| advanced to the fight now being wa ged
by his city against the dinerential-
called oy him Illegal discrimination
in force which favors Baltimore and
| Philadelphia on through shipments
| from the West. Then il was but a
step to his explanation OF me eau e
! and cure of Illegal and unreasona BILE
monopolies.
speech Ia Difficult.
| Mayor Gaynor has not yet fully re-
covered from the wound received
when the bullet of an attempted as
sassin struck him down. He speaks
| with some difficulty, both as to ar
ticulation and as to volume. But he
seems vigorous. and indicated plainly
that he possesses two very human at
| Observation-Disclosures and humor. The
former he directed more than once
at his critics. and the latter displayed
itself at frequent intervals. He even
! joked about the attack on him. Re-
ferring 10 the docking facilities about
New York. he said he felt certain there
were adequate docks in Hoboken, for
he had been there himself. II was then
that he was shot when on steamer
about to start on his European trip.
< The real root OF the trust menace,
said the Mayor, is in the formation of
holding companies, for the purpose OF
controlling the stock of other corpora
tons. and thus producing n business
unit or monopoly. In fact he said IN
the me year when an act was passed
in New York State permitting such
companies. flaming antitrust laE was
also enacted. putting heavy penalties
on combinations and monopolies. The
future historian" he commented will
either conclude that We were the most
/
| the world or else that we did not know
what we were doing or saying"
/ Proposes Big Bond Issue.
F.. Possibly the most interesting sugges.
! ton regarding the plans of the Allan
tic Waterways Association. at yester-
days meetings was that of Mayor Fred
erick w. Donnelly. of Trenton, n. ].
! This was nothing less than n PROPOSE
| tion that the United States government
should issue bonds and borrow enough
money to complete the entire intra-
| coastal system at the earliest possible
| date. instead OF relying on an annual
| appropriation by Congress as the work
! progresses. Mr.. Donnelly has earned
I the right to be progressive in his views
for he has recently been swept from a
| counting room to the executive chair
OF New Jerseys capital city because
| of his efforts for inland water trans
portation and for a commission form
of government. His method of pre-
senting his case did not by any means
detract from its interest.
Some may think said Mayor Dom
nelly. that what / am about TO say is
! imprudent. The United States engi-
neers have approved practically all that
is necessary OF our plans. There is a
| clamor everywhere for congressional
! appropriations. Congress has been
largely controlled by the West and +
must say that our own representatives
| have not been so Jealous as they might
| have been.
Statistics prove that the railroads
cannot begin to handle the commerce
of the country. much of which is ru-
ined by delays and CONCESSION. Com
plete this plan, and the farmer and
the merchant and the shipper will have
advantages they have never had be-
| fore. We are standing still, with our
| transportation limited to the carrying
capacity of the railroads. II we are 10
way-give the manufacturer the lowest
possible rates on his freights.
| Need Improvement Now.
| 1T Will take twenty-five years to
/ complete our plan If we await annual
appropriations from Congress. When a
business man desires to extend his
sphere he borrows money. When a
corporation or municipality has some
project for larger activities or for the
public advantage, bonds are Issued
Why not let Congress issue bonds and
complete this work at once?
! You may say that 1t is not courtesy
to mention this and that II Is bad poll
! tics to put g bond issue up to the Pres
ident or to Congress. Well, In New
Jersey we have substituted business
methods for courtesy and for political
tactics. Issue your bonds and do the
work Let the twentyseven waterway
associations in the country hold one
big meeting in Washington. not to
stampede the President or Congress,
but to set forth the reasons for our
interest in the matter and to urge
that something be done
| Needs of the Hour.
I! Congressman John H Small, of North
Carolina. who was the last speaker OF
the afteroon, and who is prominent