Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1912-01-04
ARGUS Sc, MAINEi
An Open Letter to the Hon. Frederick
w. Plaisted, Governor of Maine.

|
| Would it not be expedient to direct
the attention of the incoming special
session of your Legislature to tho
overwhelming Importance of a proper
policy ON the part of the State toward
| the utilization of its water powers?
Let the state itself acquire title to
| all lands that control water powers or
lakes or reservoir sites. Let the State
| employ the ablest engineers to make
q thorough survey. and lay out a COM
prehensive scheme for the utilization
| of this water power
After the State has thus protected
| Itself by acquiring the titles, there
viii be plenty of time for the survey
and for working out all the details of
| the grand plan of development This
| plan should provide that a dam or
| project could be developed where most
needed. say year or tive hence, to
be followed by other developments,
but each scheme to be part Of Il COM
| prehensivc whole. Thus in the course
| of time all Of the sources of water
power in the Pine Tree State would
be developed.
Eventually, therefore. cheap power
and light could thus be furnished to
every farm, home, factory aud indus
! try throughout the State. The falling
water could also be utilized 10 pump
water for irrigation upon Your soil
| during periods of dr0uth. IN this way
Maine would gradually develop into
| one of the most wonderful hives of
| industry in the world. It's agriculture
would be intensive, its factories pros
porous, while cheap power would fos-
ter an immense variety of home in
dustries or little manufacturing enter
prises on farms. in villages and in
rural districts.
| With Names unrivaled harbors.
shipping could bring raw materials to
your industries at the lowest trans
portation cost not only from all the
coast regions of North and South
America but from other parts of the
world. and this shipping could carry
the products of Names farms and
| factories to equally extensive markets
throughout North and South America
and the eastern hemisphere.
Such development is not a dream,
! it is intensely practical 1t will also
be extraordinarily profitable to Maine
and to each and all of her people
Such conservation and utilization of
your water powers. under the control
OF the State. may not involve as diff
cult engineering. legal or financial
problems as there are involved in the
$25, 100000 water works of the single
city of Los Angeles. If one town can
go in for such an undertaking, how
r. CT ic IL I., Two
State of Maine2
The topography of the Pine Tree
State is naturally designed for such
development. Forests and lakes at
the north conserve vast supplies of
water. Dams to store the same against
periods of drouth can be constructed
| at relatively small expense. Probably
not 209o of the hydro electric power
| in your State is now developed. If the
State itself does not undertake this
work in the interest of all the people,
| then the so-called power trust" will
| usurp this function. will monopolize
your vast resources of white coal"
and will sell the same only at prices
that will unduly tax your people and
Ifestrict your industries, not for years,
but for generations to come.
There are various methods whereby
the state may provide for and con-
duet the proposed development of its
should, of course. be divorced from
politics and not be subjected to the
ups and downs of political parties
The highest efficiency should be Sc
cured in the engineering. construction
Il
method for accomplishing this would
be as follows:
| Incorporate the Peoples Power
| Company of Maine authorized capital
stock, say. $10.000,0O0. OF this sum
| 60qs would be Common stock, to be
issued to the State treasury in con-
sideration of the franchises granted to
the corporation. Thus the State would
always have a controlling vote in the
enterprise. The other S4,000.000 would
| be Preferred stock entitled to, say, so
interest, with a profit-sharing dividend
| of l or PC more. This Preferred
would thus be a most attractive in
| vestment, and being free of tax with
| in the State, would be quickly abb
sorbed in small lots by the people of
| Maine, every family or individual haT-
ing from $25 to $500 or more invested
in it. This would afford a working
capital of $4,000. 600 Additional funds
could be obtained to any necessary ex-
tent by the sale of the bonds of the
| Peoples Power Company. secured by
first mortgage ON its properties. in
terest guaranteed by the State of
Maine itself. These bonds, likewise
being non taxable. would sell at par on
a 3 or 49o basis.
The stockholders would elect a
Board of Directors for the corporation,
who would choose the executive Off
GERS and employ the most competent
engineers and other experts to be OBJ
tanned. These men in active charge
of the undertaking should receive
compensation sufficient to get the best
talent. and then should have the fur
ither inducement of a small percentage
upon the net earnings lof the enter
prise over a period of years. Thus
they would have the keenest interest
in the wisest economy from the incep
ton of the plan to its ripe fruition and