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51
was not used in the southern part of the parish for light, a large
portion of the resulting loss of mechanical power would be
saved by the application of this same current to power. Very
well, Sir, such being the condition of affairs in St. James's,
allow me briefly to speak of the question of free trade versus
monopoly, or qualified monopoly The Vestry have
adopted, on very common sense grounds, I think, the principle
that districting is as essential in the case of electric lighting as
it ever was in the case of gas, and, in fact, is more so—and for
one or two very practical reasons. In the first place the ground
is now occupied by mains. There were at one time no less than
fifteen Companies having authority to lay mains along Regent
Street. Many of those mains have become absolutely useless
and dead; but they represent a very important factor to the
consumers, inasmuch as they were provided by capital upon
which dividends are now being paid. That is a question of
course of political economy; but it is a very practical phase of
the question indeed, and has an exceptional bearing in this
case, in this way, that when the standard was fixed, I think it
was in the year 1871, in consequence of the useless expenditure
of capital north of the Thames, the standard or initial price
was fixed at 3s. 9d., as compared with an initial or standard price
of 3s. 6d. south of the Thames; and I think, Sir, if you enquire
into the reason of this waste of expenditure, you will find that
it was largely due to the mistaken policy of free trade in gas in
the early stages.
Then another point is that during the Free Trade competition in
gas, whether it was a friendly competition or otherwise I do
not stop to inquire, there was a continual tearing up of streets
and interruption of traffic, which was exceedingly objectionable
at that time, but would be additionally objectionable now in
consequence of the continually increasing traffic in the central
parts of London. It may be said, of course, that the circumstances
of electricity, of Electric Lighting Companies are
somewhat different to the condition of the Gas Companies when
the districting took place. But I am not at all sure that the
difference is worth considering Of course, if the
competition were equal, supposing the Companies supplied,
each of them, their 50 per cent. of the current from the main,
no doubt competition would then be operative; but supposing
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