The subject under consideration is so large that it is not possible to do more within the time allowed than to call attention to a few points, and as it is desirable at a meeting of this kind to promote discussion, we will, after making a brief general statement, notwithstanding it presents the subject in a disconnected way, take up for consideration a few of the points relating to the details of public regulation about which students of the problem differ, viz: Valuation of public utility property, uniform accounting and publicity, franchises, State regulations and home rule, rates and classification, and court review.

One of the chief functions of the State is to provide such public utilities as are necessary for the economic and social welfare of the people.

The State has undertaken to furnish these by authorizing various corporations to engage in public service enterprises. Corporations having engaged in the work, cannot escape the responsibility attaching thereto. They are under obligations to furnish to all persons, without discrimination, adequate facilities and service at reasonable rates.