in 1910 over that of 1909; in telephones, 14 per cent in the same time; in electric utilities, 145 per cent; in water utilities, 24 per cent; the railroads' gross earnings have increased 21.01 per cent from 1905 to 1909, while all the railroads in America have increased but 16.15 per cent; the railroad mileage of Wisconsin has increased 12 per cent in the same time; the total value of railroads in Wisconsin in six years has increased about $96,000,000; the value of all general property in the state has about doubled in six years. Considering all these facts, we can surely say that the legislation—admittedly some of it experimental—which has been discussed in this book is not of such a nature as to seriously hurt capital. The underlying truth is, that there has been substituted governmental regulation for the darkness of private corporation accounts. We all know that however good security private companies may offer, United States bonds at a lower rate are more certain and safer. This is simply because we are willing to pay for security. The public bookkeeping in Wisconsin whatever it does, insures security. The recent prosperity of the agricultural and dairy interests in Wisconsin (the result of the educational campaign) can scarcely be realized. Wisconsin is now the second dairy state in the union; the yield per acre of grain during the last year has been greater in this state than in any other state. For ten years it has been the great flax producing state in the country; and
