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The first ten chapters of this story were written in 1911, the succeeding twelve in 1913, and the last four in 1915. It required no gift of prophecy to foretell the result of accumulated waste and mismanagement such as described in the following pages. The purpose of the story which is based solely on facts, is to awaken the people in all large cities to the danger which confronts them. Unless the cities acquire additional revenues or curtail the cost of government, bankruptcy is certain. Taxes will become uncollectible. The cities must own their own public utilities or derive most of the profits therefrom, to provide for public need. Up to the present time, the bulk of profits of public service corporations has gone to increase the already swollen fortunes of only a few men and families. The cities can acquire most of the income from these properties without cost and in a simple manner. If the nation limits private fortunes to a reasonable sum, say ten million dollars, all wealth in excess of that sum goes back to the nation. The nation thus becomes the possessor of securities in all large corporations and of national, state and city bonds. These bonds can be cancelled to relieve the burden of public debt. The bulk of profits on public utilities would go to the cities and states in which they are located, while the nation would draw its income from national railroads and industrial corporations. Nation, states and cities would be provided with new revenues and taxation might in time disappear. The cost of living would be lowered and the menace of large private fortunes removed. This is the remedy not only for burdensome taxation, but for economic hardship in the United States. Greed for gain has produced gross social inequality and extravagant and corrupt government. The cause must be removed. It is the hope of the author that this result will be accomplished.

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9781097861101

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