were cheap. The country has built up and developed around them, yet today the railroads are mortgaged for many times their assessed valuation.

The water power of the State should be developed and used for the benefit of the people of the State. By this means electricity could be furnished for lighting and power with a greater degree of efficiency and consequently at less cost to the home owner and to the business man.

Grants and franchises from the State or city have always been regarded as a source of easy money and the public has looked with envy upon the fortunate insiders. The country is full of fortunes that have had their origin in municipal franchises and the history of our cities and State is replete with scandals of easy money made in connection with securing grants of municipal franchises to tax the public.

Democracy, good business and common sense direct that the State use its resources for its own benefit. The State should not allow a profit-seeking corporation, having no interest in the community to be served, to buy franchises granted to furnish a public necessity, such as light, gas, power or transportation.

The New York Central railroad furnishes an example of the abuse of the right of incorporation as well as of the folly of permitting private ownership of our transportation system. The New York Central railroad is a holding company made up of a list of subsidiary companies that read like a small directory. Subsidiary corporations have been formed to build its terminals, to own its stations, its bridges and small pieces of necessary trackage, so that it is difficult or impossible to devise any intelligent supervision by public officers or any means by which the stockholders can be sure of receiving fair treatment in the profits they are entitled to share.

The

a serious menace and is doing much to bring about the high cost of living by increasing the prices of all commodities dealt in. stocks are listed on the various exchanges and the prices are run up by wash sales as a promotion proposition. The industry must earn dividends to justify the selling price. Factories are bought and combined solely for promotion purposes and the money that can be made by stock manipulation. This gambling has attained such proportions that some banks devote their entire effort to promotion work. promotion work. The public makes up in pennies and carefully saved dollars the thousands and millions that the promoters. take out over night. The State should prevent such imposition upon the public by State created bodies.

Wall Street is a feature of the abuse of corporations and it ramifies to the broker's offices established in every city in the country, where men and women every day gamble in stocks. This element of gambling is unduly encouraged in order to assist in securing the people's money for the big corporations. It is very injurious to the people generally and it despoils every one by draining the money from the country and concentrating it in New York.

The right granted by the State to incorporate and transfer certificates of stock has assisted in making this gambling possible.

The State should have supervision of the sale of securities of all corporations formed by the State and of any public place where such securities are offered for sale.

regulating the price. The State should own terminals and grain elevators and should buy and sell grain and seed to the farmers, and thus protect the farmer in his business and assist in providing food for the people.

The State expends each year about $4,000,000 for agricultural purposes upon the theory of improving the farms and increasing food production. But each year the farmer finds it more difficult to make a living and the cost of farm products increases to the consumer. The proof of the pudding is in the eating. With the education and the theory we are giving the farmer we must furnish some practical help to get to the taxpayers and consumers the benefits of the $4,000,000 expended.

The money power through its publicity bureaus has created the impression in the minds of many people that any curtailment of its privilege would be an injury to business generally. This is not true. The ordinary The ordinary business man would thrive and prosper in proportion as these money combines were legitimately restrained.

Such combinations of wealth have actively exerted their power and influence in political affairs. Investigations of railroad, insurance and industrial conditions have disclosed how active and wicked has been the participation of these huge combinations of capital in shaping and enforcing legislation. Representatives of these interests attempt to direct and control legislation to their own advantage not only because they profit, but because they have made themselves believe that their prosperity and success is entitled to first consideration. These constant interferences and control of legislation and governmental affairs in behalf of special interests work naturally to the disadvantage and detriment of the individual. Opportunities for the individual are limited and restricted by legislation. Incorporated bodies are given undue power and privileges.

The issue between the combination and the individual is not wholly political. It is economic. Through monopolistic control of public franchises and common necessities innumerable small taxes are levied and collected from the public so that money is constantly taken from pockets and gathered in gross receipts for surplus or dividends. This well known fact comes with particular force to the women who know the value of pennies when trying to make a week's salary go an impossible distance. The extra penny means millions to the corporation and pinches everybody a little. The pennies make the corporations rich and leave the people poor. It has been estimated that a penny increase in car fare would exact a quarter of a million dollars from the people of the city of Albany. Figure a few pennies to the meat trust on every pound of meat sold in the city, and a few dollars a ton to the coal barons on every ton of coal, and a few dimes on every necessity, the supply and control of which has been absorbed by one of these combinations, and see if you cannot readily understand why the community is poorer, why it finds the cost of living jumping without apparent reason, why it is difficult for the working man to make ends meet. Is it not evident that this impoverishment of the people of the State works to the detriment of the merchant, professional man and business man throughout the rural sections and cities of the State as well as to the man who works with his hands for a living?

The Democratic party invites the assistance of the women of the State in securing such action or legislation as will preserve to the people the opportunity to secure for themselves and their families a standard of living commensurate with the best ideals of manhood, womanhood and childhood.

Give me the liberty to know, to think, to believe, and to utter freely according to conscience, above all other liberties. - MILTON.

The annual dinner of the legislative correspondents' association, in the new dining room of the Ten Eyck hotel April 4, although modified in many respects on account of war time, was one of the most enjoyable ever given by the association. More than 400 were present. including Governor Charles S. Whitman, LieutenantGovernor Edward Schoeneck and other State officials and most of the members of the legislature. The stunts and songs were styled "A Night Off" by the newspapermen who issued a handsome book containing the songs and menu, cartoons and names of the officers of the association. Frank A. Tierney of the Albany Times Union, president of the association, occupied the chair most of the evening leaving it to participate in some of the breezy stunts which brought uproarious laughter from the diners. At the speakers' table were seated Governor Whitman, Martin H. Glynn, former governor, and J. Sloat Fassett, former congressman and the Republican candidate for governor about 30 years ago. Alfred E. Smith, always in demand on these occasions, now president of the New York board of aldermen, wrote a letter of regret saying that he was unable, on account of illness, to attend.

The speech by Mr. Fassett was one of the most eloquent ever delivered before the association. It is against the rules to publish what is said in these addresses, but it may be stated here that Mr. Fassett spoke on the great underlying issues involved in the war. It was an appeal to patriotism which will not soon be forgotten by those who listened to it.

Among the stunts which attracted attention was one staged to show the Republican “old guard" of New York State, at the head of which President Tierney appeared gorgeously arrayed in a scarlet uniform. He led in a song entitled, “Elon Brown "to the air of “ Joan of Arc.” It was an appeal to Senator Brown to rally the "old guard" for the purpose of defeating Governor Whitman and others now in command of the party organization. The spirit of the song is shown in this verse and chorus:

Senator Wellington has been conspicuous in supporting the prohibition amendment in the senate. His mannerisms, tone of voice, and oratorical postures were imitated in a way to bring shouts of laughter and applause from the men present who have listened to the Troy senator in the

senate.

Senator James A. Emerson on account of his recent change from the anti-liquor to the prohibition side, came in for a good deal of good-natured raillery.

Those farmers who have been organizing the federation of agriculture in opposition to Governor Whitman were portrayed as calling conventions in different parts of the State and putting through cut-and-dried resolutions condemning the governor. Two of the correspondents acted the part of the typical farmers.

The effort to restore the State nominating convention was made the subject of a clever stunt wherein a Republican convention was staged. The chairman banged the table with his gavel announcing that it was to be an unbossed convention but recognized only favorites to make nominations from among the delegates and was blind to the presence of all others. One of the correspondents, who acted the part of Senator George A. Slater, tried in vain all through the proceedings to obtain recognition from the chairman. He was met on each occasion by the loud commands of the chairman to sit down. Speaker Sweet was pictured in stereopticon views as dreaming and yearning for the governorship. One of the members dressed as a singer rendered a song entitled: "Speaker's Prayer at Twilight."

William H. Anderson, State superintendent of the AntiSaloon League, was one of the characters depicted in the merry-making much to the delight of the 400 people or more present. The correspondent who essayed his part wore a flaming red tie and in reply to questions from the chairman said that prohibition might be put off for another year, the intimation being made that to delay the adoption of the federal amendment would be for the financia] benefit of Mr. Anderson whose occupation might be gone if prohibition were established. Replying to the question by Senator James J. Walker, Mr. Anderson admitted that his financial condition was such that he would never have to work again for a living. The superintendent of the league pledged Governor Whitman that he would be in his corner for the coming campaign.

There were more patriotic songs on the program than usual at this fun-making occasion. Preceding the dinner, the diners, who came from all parts of the State, mingled with each other in the large room below the dining hall and enjoyed nearly an hour of friendly talk. Some of the oldtimers present said that it reminded them of a political convention. Mr. Fassett went over the names of the diners present printed on the seating list and said that he recalled only seven of those present who were active at the State capitol when he was president pro tem of the State senate thirty years ago and senate leader of the Republicans.

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O more important phase exists in State government than the subject of public finance. Yet no topic has created greater misconception. This is not surprising in view of the fact that so little opportunity is afforded the public to learn the facts. Besides, the subject is not a matter to be readily grasped unless one is in direct contact with the machinery through which the financial business of the State is carried on. With this in view, an attempt will be made to relate an intimate and somewhat personal picture of the workings of the State comptroller's office.

As the chief financial office of the richest commonwealth in the world, during the century and a quarter of its existence, the State comptroller's department has taken a conspicuous part in its government. For over 120 years, the State comptroller has managed without scandal the financial affairs of this great State and from its incumbents have been chosen a president and vicepresident of the United States, two United States senators, five governors of this State, one chief justice and one chief judge of the highest court of justice in the commonwealth.

The office, as created and from time to time enlarged, is a unique feature of our State government. There are auditors in nearly all the states, but the duties of comptroller, as established in New York State, are far broader and more extensive. The comptroller's functions are both administrative and critical, and for more than a century the people have recognized him as the chief fiscal officer, second in importance only to the governor, and in relation to the

finances, vested with even greater responsibility than the chief executive.

Early in the conduct of our government, it was found desirable to invest one officer with control over the funds. This responsibility was at one time shared with another officer, the treasurer, but it was found that the financial administration could not be effective under divided responsibility, and, therefore, the comptroller was given authority which the treasurer has to respect. As a matter of fact, the duties of the latter are little more than those of a cashier. The treasurer is made custodian of funds, but he cannot pay them out without the warrant and countersignature of the comptroller.

It is not optional with the treasurer whether he shall pay upon the comptroller's warrant. It is required by law that he must pay all accounts for which the comptroller has drawn warrants. So strongly has the office of State comptroller entrenched itself in the confidence of the public that when the constitutional convention, in 1915, undertook to make important changes, protests came to the convention from all sides resulting in the abandonment of the plan and leaving of the State comptroller's office intact under the proposed new constitution.

Perhaps the reason that the State comptroller's office has been able to make such a strong place for itself in the respect of the public is the permanence of the working force. The changes of the head of the office, due to recurring elections, do not extend very generally down the line. The engineer and a few of the chief assistants may change, but the machine itself remains practically intact. One man, who has since died, completed

nearly 40 years, and there are several others who have served in the neighborhood of 20 years, while one of the present deputies, James A. Wendell, began his 25th year last month.

This continuity of service has resulted in a degree of efficiency very generally recognized at Albany where the comptroller's office occupies an honored place among the various State departments. In the office personnel, the civil service's competitive lists include fully 70 per cent of the employees. The comptroller's duties, at the present time, are to superintend the fiscal affairs of the State; audit all its claims and draw his warrant on the treasurer for their payment. He is authorized to designate the banks in which all funds of State officials and institutions shall be deposited, and is required to conduct the sale of bonds authorized and to supervise their preparation and printing.

The State comptroller supervises the collection of taxes on corporations, inheritances, stock transfers, mortgages and investments. He conducts the sale of property of delinquent taxpayers, included in the forest preserve; examines the accounts of court and trust funds, and looks into the fiscal affairs of second and third-class cities, counties, villages and towns. He has to approve all contracts made by State institutions in excess of $1,000 before payment can be made. All estimates for desired appropriations must be filed with him by November 15 of each year to be transmitted to the governor.

The comptroller also has the custody of securities belonging to the State as investments for the various funds and those deposited by the banks as security for deposits of State funds. Under the direction of the commissioners of the canal fund, he invests the canal debt sinking fund. He is ex-officio member of the State board of canvassers, the canal board, State board of equalization and State printing board, and commissioner of the canal fund and land

office. He also fixes the salaries of the officers and employees of the various State hospitals and charitable institutions.

The multiplicity of these duties is so great that the law recognizes the physical impossibility of the comptroller performing them all, and, therefore, provides that he shall have four deputies, all of whom are equal in rank and authority. All the important papers, as a matter of fact, are signed by the deputies, including the State bonds and warrants on the treasury. The number of checks issued by the State is so great that to relieve the deputies of this detail work the law gives authority to two assistant deputies to countersign them.

The volume of business which flows through this great financial machine is constantly growing. During the last fiscal year, the actual expenditures out of all funds aggregated one hundred and two million dollars and the receipts ninety million dollars. To facilitate the transaction of this business, the office is divided into bureaus. The main office at Albany employs over 200 persons, while the New York office, which occupies an entire floor in the tower of the majestic Woolworth building, employs 24 persons. In all the counties of the State there are, in addition, approximately 200 transfer tax attorneys, appraisers and clerks, while the clerks attached to the State prisons are also employees of the comptroller.

Probably the most important bureau in the department is the finance bureau, where the duties are of a varied character. It is through this bureau that the comptroller's office maintains a direct connection with the treasury by the issuance of warrants and the counter-signature of checks. It also cooperates with the treasurer in the designation of depositories and in the transfer of funds from the reserve banks to the active banks of account of the State. The active banks of the State are the National Commercial and the New York State banks of Albany.