REGULATION OF PUBLIC UTILITIES 135
ticular features would be an all engrossing occupation
for legislators. To make a specific law for each class and
case would seem to be an impossible undertaking. The
Legislature of Massachusetts, which ranks high in
intelligence, alertness, and honesty, is to-day struggling
with the New Haven and Boston & Maine merger, and
I venture to say that not a single legislator feels himself
competent to the the task. If all similar questions
required the action of the legislature, what would
become of the docket and the time of legislators?
The Commission
The already established trend toward regulation by
national or state commission, to which it is proposed
that the exercise of regulative governmental power
shall be delegated, brings us to a consideration some
what in detail of the reasons for, and the possibilities
of, the commission idea as applied to the regulation,
under statute, of special franchises or public utilities,
either by rate making, by taxation, or by any other
means whatsoever.
Mr. Henry Clews voices a pregnant truth when he
says that a large part of the gross evils in trusts and
syndicates and public service corporations are traceable
to the fact that “legislatures have not kept pace with
national progress.” Similarly, President Woodrow
Wilson of Princeton University, says:
The corporation lawyers of this country know what is going
on; the legislators do not. I want to say to all corporation
lawyers, “if you would save the corporation, you will come
out from cover and tell the legislators what is needed. You
know what is needed; they don’t. By telling them you will
save the corporation. If you don’t you will have the mob at
i its doors in a decade.”