Chicago has paid dearly for its reform, and reformers elsewhere might as well realize that if they succeed, their city will pay, too, at first. Capital will boycott it and capital will give it a bad name. The bankers who offered me proof of their losses were offering me material to write down the city. And has Chicago had conspicuous credit for reform? No, it is in ill-repute, “anarchistic,” “socialistic” (a commercial term for municipal ownership); it is “unfriendly to capital.” But Chicago knows what it is after and it knows the cost. There are business men there who are willing to pay; they told me so. There are business men on the executive and finance committees of the League and others helping outside who are among the leaders of Chicago’s business and its bar. Moreover, there are promoters who expect to like an honest Council. One such told me that he meant to apply for franchises shortly, and he believed that, though it would take longer than bribery to negotiate fair terms with aldermen who were keen to safeguard the city’s interests, yet business could be done on that basis. “Those reform aldermen are slow, but they are fair,” he said. The aldermen are fair. Exasperated as they have been by the trifling, the trickery, and past boodling of the street railways, inconvenienced by bad service, beset by corporation temptations, they are fairer to-day than the corporations. They have the street railways now in a corner. The negotiations are on, and they could squeeze them with a vengeance. What is the spirit of those aldermen? “Well,” said one to me, “I’ll tell you how we feel. We’ve got to get the city’s interests well protected. That’s first. But we’ve got more to do than that. They’re shy of us; these capitalists don’t know how to handle us. They are not up to the new, reform, on-the-level way of doing business. We’ve got to show capital that we will give them all that is coming to them, and just a little more—a little more, just to get them used to being honest.” This was said without a bit of humor, with some anxiety but no bitterness, and not a word about socialism or “confiscating municipal ownership”; that’s a “capitalistic” bugaboo. Again, one Saturday night a personal friend of mine who had lost a half-holiday at a conference with some of the leading aldermen, complained of their “preciseness.” “First,” he said, “they had to have every trivial interest of the city protected, then, when we seemed to be done, they turned around and argued like corporation lawyers for the protection of the corporation.” Those Chicago aldermen are an honor to the country! Men like Jackson and Mavor, Herrmann and Werno, would be a credit to any legislative body in the land, but there is no such body in the land where they could do more good or win more honor. I believe capital will some day prefer to do business with them than with blackmailers and boodlers anywhere.