Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1924-09-30
HOOVER'S ADDRESS
(continusd from Page One)

(Continueo from rage INV
issues of stock, the time tables. the
car service, the profits. Our great
national water powers are reserved
to the government though fifty-year
leases. under public control. And
our commissions are not alone pre-
venting abuse; they are maintaining
initiative enterprise. and progress
in our railway and other utilities, as
witness their enormous growth ana
constantly improving efficiency ana
service.
Regulation has, through STABILIZE,
ing rates. reduced the cost OF capitaI
BY increasing the security for the
savings of our people. From this
security and within our generation
| there has come a new tide, and that
| is toward popular ownership as as
| tinguished from government owner
ship. These enterprises are no long
er owned or controlled by few. One
of our great service corporations has
| nearly 100000 stockholders. another
over 200 900. The power companies
have over 100000. their bonds are
directly and indirectly. through our
mutual insurance companies ana
| savings banks in the hands OF Ut
orally tens of millions of owners. A
ership to the public. Moreover. the
new generation of administrators OF
these enterprises has firmly grasped
it's responsibility to the public In
deed there are deep and promising
currents originating in our economic
life driving toward naturalization
of public and private interest, en-
ployer and employee interest with
promise of new period in industrial
development. There has been a gen.
uine growth of business conscience
and service, and this growth is tar
more precious than any amount OF
| legislation. OF those occasional in
dividuals who fail to manifest this
sense Of public responsibility l could
speak with bitterness, for they are
| the real stimulators of socialism.
Such men give the cause for the
| despair that Government ownership
| is the only relief from their actions.
| But we do not put the whole people
! in Jail because of occasional murders.
| And from it all we have by and
| large evolved the best actual service
| to the people from utilities that there
is in the world. 1t may not be per-
| feet, but no one who has tried a
European Government railway or u
telephone needs conviction of our su-
perior service. Moreover there Is a
diffusion Of service and use among
our people double and treble the pro-
portions to the population of any
other country. A larger proportion
of our homes have electric lamps, IA
larger proportion have telephones.
More of our people travel by rail and
more miles. We ship more goods per
person, and our workmen have more
power at their elbow than any other
workmen in the world. The wages
in our utilities give the highest
standard of living and comfort on the
earth. II our utilities were dominat-
ed by the malignity that some con-
tend these things would never have
come about.
ITO whatever extent we have fail
ed in control. whether it be through
overcontrol or through insufficient
control, it is a challenge to us TO
perfect our system. There have been
mistakes and will be others. But
may say at once that If the Amer
lean people have not the intelligence,
If they have not the character, II
they have not the political mechan-
ism by which private competition can
be maintained and yet abuse can be
prevented, then they do not possess
the character or the political me-
chanism by which they can under
take the gigantic operation OF these
enterprises.
Effect Of This Undertaking upon Our
Democracy -
Neither our National nor our
State Governments are planned ol
equipped for the task Of Government
operation of utilities. Nobody ever
tried it on our stupendous scale Of 4
continent, but there are Governments
which, in their smaller scope, dc
operate in some fashion some of Their
utilities. Since it is always in worse
fashion than ours, their example is
no temptation to imitation. but II
does illustrate that some Govern
ments. on some scale. in some fash
ion, can operate some of them. Blu,
none of them have ever attempted tt
operate all the utilities. nor does any
one of them possess 1870 OF our rail-
way mileage, or $50 of our power
or 1871 Of our telephones. and so on
/. II would also have you observe
that theAe Governments all have
much more concentrated power and
responsibility than we have eve,
been willing to grant to our govern
ment. The fathers purposely made
our government to a different model
for a different task. They divided
power and responsibility. where bus.
mess must concentrate them. They
thought liberty and individual right:
worth safeguarding even at some cost
of efficiencI. But this very fact ne
cessarily leaves to private enterprise
many things which other nation.
can. If ti.ey prefer, do through gov
eminent after fashion. On thu
governmental side, the result has
been one Of which we are as proud AZ
other peoples are envious. On the
business side. the accomplishment
far surpasses anything they know
Through the one, We have liberty
through the other. enterprise ant
decisiveness. Our form of govern.
ment, which we have developed over
,, $50 years, has assured US a measure
Of freedom and progress hitherto un.
paralleled in political history. Thu
more we cherish 1T the less read,
J we should be to load it with burden
for which it was not built To beal
this load the Constitution would neeG
to be rewritten in q score of places
until 1t was no longer our democra cy
Above all It would change the ma joI
4 thought and purpose Of our govern
ment into the making of money in.
stead of devotion TO the preservation
Of basic human liberties-a biz
enough job in these times.
"The very first and Fundamental
difficulty that our form Of govern.
ment presents is the relation OF tn,
/ SfRtes to the Federal Government
For in our planTwe conceive that lib.
erty requires a great measure o.
. decentralization in authority. 1
these public utilities are to be op.
). Grated by the Federal government w
\ a H. - "a.
measure OF authority and contro
over railway noxrer iivht "a nd on,,,