The New York herald., 1922-01-27
Continued from First Page.

doing here by cIinging TO this myth OF
the cent fare was to make 1t more
likely every month that you wouldn't
be able to ride at all. What this town
needs first of all is service.
"And ] want to say to you also. In
my judgment. the five cent fare can be
preserved. In my judgment II will be
preserved. It will be preserved by es-
tablishing a just rule to govern the
problem, not on any theory you can get
something for nothing-not on the the
ory that the people will be carried for
less than 1t costs to carry them, includ-
ing a proper return on the honest cap
ital--and I emphasize honest'-that is
use5 in their service. You can never
extend your transit facilities unless you
recognize that principle. IL you apply
II honestly and impartially all the evil
dence indicates you can get adequate
extensions of transit facilities. and by
the elimination of unnecessary waste
and cost you can preserve. IN all prob
ability the five cent fare"
The Governor said that although
Comptroller Craig might dissent the
city's borrowing capacity was now
frozen in from $3.50. 100000 to $500. o.000.-
900 worth of subway bonds, the interest
and amortization OF which are now
being provided by the city's taxpayers.
Unless that frozen credit can be re-
leased, he said the city had no sufficient
borrowing capacity TO extend transit
facilities or to undertake other public
works.
In support of his assertion that he
favored home rule for municipalities the
Governor pointed out that the Legisla-
ture had full power to have imposed a
new charter upon New York city without
reference to the wishes of it's citizens.
He realized, he said, that no city prob
lem could be successfully solved unless
the solution met with favor and he had
purposely appointed n Charter Revision
Commis ssion with a majority of Demo
Gratis so that no one Gould say he had
sought partisan advantage. He said he
entertained the hope that the new char
ter would provide for larger measure
OF home rule with regard TO purely local
affairs.
"This talk about homo rule. much Of
it." the Governor said. "is intended
solely for public consumption or to serve
political purposes at election. It is a
phrase that is fine to conjure with. and
some of those who conjure with it most
readily wish to apply 1t the least when
1t comes to the concrete case"
The Governor declared that 1t would
have been easy for him TO have left the
transit and port development problems
continue to remain In politics.
But did not think" he said, Il had
any right to delay one moment Longer
than was necessary, merely for political
expediency. 1 selected the Transit Com
mis- sion members regardless OF politics
l was told 1t wasn't expedient and thai
I would reelect the present city admin
istration. and 1t seems ! did,"
At the time Eugene II. Outerbridg'
was named as chairman OF the Por
Authority the Governor said he didn'
know what his politics were.
"It was important that all the inter
ests here should be represented. and
thought I could not find better mar
than the one who had beaten me at the
| fall election by something like 325.00(
or more majority. and so I appointed
Alfred L. Smith as another member
said the Governor.
The soundness OF the Port Authority
scheme for development here was praised
by the Governor, who urged that If any
one had a better plan 1t be submitted.
"You cannot always have o town
meeting 10 determine whether thing
shall be done or not, and frequently dis