(3) Complete publicity of accounts and transactions should be required, as well as a record of cost, and the real relation of investment to stock and bond issues.
(4) Power to revoke the grant for breach of conditions should be lodged in a specified public authority. Otherwise there will always be the possibility of protracted litigation to determine the status.
(5) So far as is possible, direct provision should be made against excessive charges and monopolistic abuse.
(6) Public authorities should reserve such constitutional compensation or rental as will establish the principle of underlying public interest.
(7) All public easements of navigation, fisheries, etc., should be safeguarded.
(8) In the case of new grants, all these provisions should be made conditions of the grant.
Finally, the purpose and probable effect on the public of any water-power grant should first be fully ascertained and carefully considered, in order to determine whether public interest justifies beyond a reasonable doubt the surrender by the public of even a part of its power over this great public resource. Where reasonable doubt exists, the surrender should not be made. (Applause)
[During the delivery of the address President Baker arrived and resumed the Chair.]