But
now when coal is scarcer and high, or monopolized, at any rate, to make it
high and scarce in the market, the exploiters are turning to water-power
possibilities with hearty hankering, and the people are turning with
hope."
"I'm afraid I'm getting hunks out of that report of yours, ahead of
official time."
"You're getting the principle underlying it--and you're welcome."
"Morrison, the idea that the people have any overhead right and ownership
in franchise-granted and privately developed water-power is ridiculous and
dangerous nonsense."
"It does sound a bit that way, considering the fact that the people of
this state have never even taxed water-power, as such. The ideas of the
fathers, who gave away the power for nothing, seem to have come down to
the sons, who haven't even woke up to the fact that it's worth
taxing--yes, Blanchard, taxing even to the extent that the people will get
enough profits from the taxation to make 'em virtual partners! And as to
the millions of horse-power yet to be developed, let the profits be called
lease-money instead of taxation. Then we'll be going on a business basis
without having the matter everlastingly muddled and mixed and lobbied in
politics!"
Blanchard knew inflexibility when he saw it; and he knew Stewart Morrison
when it came to matters of business.
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