The Washington times., 1912-12-15

tuc past, HUO C0utIOeTU& DOtn
the failure. and successes Of such en-
terprises. the. capital invested has re-.
ceived a smaller total profit on its total
amount than is the average of mercan-
,lle. commercial. manufacturing Or trad.
regards various physical elements enter
Ing Into II, the machinery used. the mo-
tive power, and the general develop
ment OF the art. is wholly beyond the
every sass "a. e n'nry nrs.
eent themselves and there is1e crying
demand for further extension Of service
Of such corporations. While from the
now somewhat extensive experience
than In the past to forecast the prob
able monetary outcome Of such exten.
slOns. enlargmcnts or new develop
ments. there still exist many cases
still more or less problems!icai. and in
some cases absolutely. probiematical a.
to the dates with which returns Will
be reached.
up f. compsra.,!ys,iy, ,s,, recent Ip.,,;Od period
IN extending the operations under his
charge on the general doctrine Of aver.
ages-that II q given extension proved
Improbable for the time being or per
BY the greater profit to be reached
from some other cOntempOraneous. sub.
sequent or existing branch Of or extern
sion to the service. Under this condi-
tion of affairs enterprise was fostered.
the hope Of a reward beyond tho ordi-
nary fixed small return Of the absolute.
ly settled, and non.haxard0us enterprise.
To-day throughout the country the
commsrcs S commissioni. Public Utility
commissions, and by the -faw.making
and legal administering bodies to ham,
per and curtail and paternalise the con.
prise Of the individual officers and en-
plOyes OF such corporations IL putting q
period TO the further Investment Of
capital for the extension and enlarge:
this policy. II carried along the lines
Of Its present extreme tendencies. will
be simply a stop to the further energetic
development OF these enterpriBes, to de-
str9y shs uS Of these
sisted In along the program Of the po-
iitical agitators OF the present time.
leads inevitably and logically to Federal
and municipal ownership.
"A new situation and new conditions
are now confronting the public and
the underlying common sense Of our
people to take these questions out Of
the hands Of the muck.raker and the
professional politician and to put them
ueioIe tuc sTedt tTlOundl OI common
sense and love Of justic Of the Ameri-
can people. Our country has reached
a point OF Intelligence and development
where II should recognise, and at some
time will recognize. that these ques-
.ions are OF such deep and far reaching
n the hands Of entirely nOn-po-
enced. and candid. and who will care
fully weigh all the questions involved
questions involved and with u full reali-
cation OF the obligations Of the COM
mon honesty resting upon all OF us to
each other, to the investor. to the wage
eafner and to the communities involved.
Unless this course is pursued the
present program leads Inevitably to pa
ternalism and Federal and municipal
ownership. 1t II unnecessary to point
out the perils to our beloved country
which would follow the placing In the
ernment. OF the enormous patronage re-.
sulting from Federal and Governmental
ownership Of this huge fabric OF pub
lie service corporations. The public
does not desire this; the investor does
not desire y. and coomon sense abhors
such = policy. The economic history
Of civilization teaches beyond the pos
sibility Of u doubt that theNbest results
to the state and its citizens are reached
by wise and prudent encouragement OF
! II reached BY allowing suitable rewards
to follow successful enterprises.
The public service enterprises Of the
!, United states Of America have beer
| vclopment Of this country. There are
| vast sections Of this country which re.
| quire the services OF such companies
| existing and already served communitie.
operations OF such corporat,ons All thi,
| requires MANY millions OF dollars annu