It is this pass to which all such negotiations, conducted in sincerity,
come at last; it is this on which the whole question hinges, it is
this that might as well be done first as last, namely, to evaluate
the property of the company. It is necessary not only to get at the
investment and the return thereon, but to ascertain what the city must
pay when it comes to take over the street railway system.
But we did not do it at first, and we did not do it at last. At first
it was impossible to get it into the councilmanic head that it was at
all necessary, especially since it cost money to retain the “experts,”
as they are called, to do the work. They were prone to that old vice
of the human mind which leads it to imagine that when it has stated
the end to be achieved it has at the same time stated the means of
achieving it,--like the advice to the bashful man “to assume an easy
and graceful attitude, especially in the presence of ladies”--and
when council was finally convinced and had provided the funds for the
experts, we could not agree as to who should be employed. That is, the
human equation was apparent. There was unhappily nobody but men to make
evaluations, and all the engineers who were competent were employed
by street railway companies, and expected or hoped to continue to be
employed by street railway companies, and they had evolved so many
fantastic notions of “intangible” value that they could account for
almost any excess in artificial capitalization, and make the grossest
exhibition of corporate greed in watering stocks appear like veritable
self denial in frugality and economy. We selected Professor Bemis to
represent the city, because he was one of the few of the “experts”
committed to the people’s cause; he had advised Tom Johnson throughout
his long war. But the company never could be brought to select anybody,
or to agree upon the third arbiter--even to accept the Judge of the
United States Circuit Court when, against the advice of the whole
administrative circle, I proposed him.
Again and again in our prolonged negotiations we returned, as in a
vicious circle, to this point; again and again we reached this impasse.
LXI
Meanwhile, the franchises were expiring, and the time drew on when
the company would have no rights left in the streets. And here was
the opportunity for the mind that had the power, or the defect, of
isolating propositions, of regarding them as absolute, of ignoring
the intricate relativity of life. “Put the company off the streets,”
was the cry; “make it stop running its cars; bring it to its knees.”
However, we could not bring the company to its knees without bringing
the riders to their feet; we could not put the company off the streets,
without at the same time and by the same process, putting the people on
the streets; when the cars stopped running the people began walking.
The public convenience was paramount.
Public-domain text, read in full here on John Shaqi.
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