Public Service Volume 26-27

Public Service Volume 26-27

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1919 edition. Excerpt: ... Warburg, and the Railroad Executives. All these plans contain very interesting proposals, and the'high character and ability of their authors entitle them to great respect. It seems to me, however, that the plan proposed by your Association and called by your name is the only one which deals adequately with the real difficulty in the Railroad situation. I think you have put your hook into the key log of the jam in which our railroads are piled up without power to move forward, and I think no one else has. I should not venture to say this were I not satisfied that the real difiiculty is not a matter of banking or of railroad operation, or of division between Federal and State control, but that it is a very simple and stubbornly held opinion about railroad profits which prevails among the people of the United States. V Our railroad experience has been controlled by a succession of single motives. In the first stage a strong desire to build up the country led the people of all sections to offer inducements for the investment of capital in railroad construction, and the companies were authorized to fix their own rates subject only in some cases to charter provisions and in general to the requirement that rates should be reasonable. trolling idea was to encourage railroad enterprise, and the real reliance to secure fair rates was upon competition. The result was the construction and operation of a vast system of railroads, which was one of the chief elements in the growth and unity of our country. After a time, however, as the country became settled and the element of risk had largely disappeared, the people found that competition did not keep rates down, that rates were too high, that they were often unfair and discriminatory, and that the...
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Product details

  • Paperback | 364 pages
  • 189 x 246 x 19mm | 649g
  • United States
  • English
  • black & white illustrations
  • 1236802861
  • 9781236802866