"Maybe so! I'm not sure. I may be a little muddled. But I see a principle ahead and I'm going straight at it, even though I may tread on some toes. I believe that the opinion doesn't hold good, any longer, as a matter of right, that because a man has secured a franchise, and his charter permits him to build a dam across a river or the mouth of a lake, he is thereby entitled to all the power and control and profit he can get from that river or lake without return in direct payment on that power to the people of the state. We know it's by constitutional law that the people own the river and the lake. I'm putting in a report on this whole matter to the incoming legislature, Senator Corson." "Good Heavens! Morrison, you're not advocating the soviet doctrine that the state can break existing contracts, are you?" shouted the Senator. "I take the stand that charters do not grant the right for operators of water-power to charge anything their greed prompts 'em to charge on ballooned stock. I assert that charters are fractured when operators flagrantly abuse the public that way! I'm going to propose a legislative bill that will oblige water-power corporations to submit in public reports our state engineers' figures on actual honest profit-earning valuation; to publish complete lists of all the men who own stock so that we may know the interests and the persons who are secretly behind the corporations." Corson displayed instant perturbation. "Such publication can be twisted to injure honest investors. It can be used politically by a man's enemies. Stewart, I am heavily interested financially in Daunt's syndicate, because I believe in developing our grand old state. I bring this personal matter to your attention so that you may see how this general windmill-tilting is going to affect your friends." "I'm for our state, too, sir! And I'll mention a personal matter that's close to me, seeing that you have broached the subject. St. Ronan's mill is responsible for more than two hundred good homes in the city of Marion, built, owned, and occupied by our workers. And in order to clean up a million profit for myself, I don't propose to go into a syndicate that may decide to ship power out of this state and empty those homes." "You are leaping at insane conclusions," roared Daunt. He shook his finger under Morrison's nose. "I'll admit that I have arrived at some rather extreme conclusions, sir," admitted Stewart, putting his threatened nose a little nearer Daunt's finger. "I based the conclusions on your own statement to me that you proposed to make my syndicate holdings more valuable by a legislative measure that would permit the consolidation to take over poles and wires of existing companies or else run wires into communities in case the existing companies would not sell." "That's only the basic principle of business competition for the good of the consuming public. Competition is the demand, the right of the people," declared Daunt.