The public ledger. [volume] (Maysville, Ky.) 1913-1968, 1921-12-24
WASHINGTON LETTER.
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Washington, Dec, 81. = Especial
correspondence - In the ten years
from 1910 to 1920, there was prac-
tically no new development Of water
power nthe United States. In the 16
months after the Republican Congress
passed the Federal Water Power Act,
there were filed with the commission
1856 applications for preliminary per-
NIT and So applications for license to
develop power = 2eo applications in
all = aggrgateing 100000 primary
and 100000 secondhand horsepower,
or 100000 horsepower Of estimated
installation. The proposed develop
ment following the enactment Of the
Water Power Law is double the horse
power developed in all the years since
settlement was made in America.
OF course there will be no immedi-
ate development Of all this water pow
er, for several reasons. In the first
place, the making Of detailed plans
and the construction Of dams, ETC., is
a slow process. Some of the projects
will be more difficult than others and
will require more time and greater ex-
penditure. Some will be developed
gradually as there is need for the
power. Then, too, even II 1t wer phys
ically possible to develop all this pow
err over night, there would be no i'm
mediate commercial use for the pow
or. Adaptation Of present plants and
the construction of new plants for The
use Of electric power will be grad
ual proceed Of change. Many Of our
railroads will be electrified in part or
entirely. Many manufactures now u.s.
ing steam power will change Of cleo
tricity. Water power will be used to
geenrate electricity which in turn will
be used to manufacture nitrates, but
this will also be gradual develop
ment.
The important fact is that under the
Federal Water Power Act men who
have accumulated capital and who
have the needed business ability and
technical skill have been encouraged
to utilize their savings and their abil-
ity in the development Of one Of the
most valable of our latent resources.
This means much for the future of
America. It means saving OF coal
and other fufels. It means greater
cleanliness and comfort in travel. It
means cheaped manufacturing costs
I. means great convenience to all the
people. But most Of all, 1t means util-
ization of power that is today going
absolutely to waste as the water runs
unimpedcd down the channels Of our
mountain streams.
In the development Of all this pow
err. someone will probably make prifts
= probably a few will make large
profits. That is to be expected. In
fact, one of the purposes Of the water
power act was to give me ma reason
hope of making profit In order to in
duce them to make the investment Of
money and time necessary to develor
the unused power. Power must be de-
veloped either by private enterprise
or public appropriation, If at all, and
It is certain that development by gov
eminent agencies would be expensive
land wasteful. Private enterprise will
not take the risk of loss unless 1t has
Ialso reasonable hope Of gain.
But while thelaw affords the in
Ivestor some assurance Of protection in
his vested rights, 1t also hedges the
Operation about with provisions which
protect the public from extortion and
from the evils of unlimited franchise
BY regulation Of charges, taxes upon
profits, and final provision for re-
version to the Government, the public
welfare is duly guarded.
| Probabl ythe law is not perfect, but
1t is manifestly long step forward
land Is a monument to the constructive
craftsmanship Of the Republican
Inorfv