Sayings and Writings about the Railways

Sayings and Writings about the Railways

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1913 edition. Excerpt: ...a ton. brick would bear only one cent. And the fundamental principle of all railroading is that "whatever happens, traffic must move." Well, the railroad soon found that coal, wheat. building stone, and other heavy, cheap commodities, would move, and move long distances, if the rate was low enough. More and more changes were therefore made in the direction of "charging what the traffic will bear."--Ray Stannard Baker: The Railroad Rate. McOlure's Magazine, November, 1905. What the Service is Worth What the service is wortli--there we have the basis on which freight rates are really fixed. Not what the railroad would like to get or what the capitalization makes it necessary to get in order to pay dividends, but simply what is the money equivalent of the service rendered. Selling railroad transportation is really no different from selling anything else. Imagine a merchant, about to fix a price on a lot of goods, saying to himself: "Here, I and my associates have capitalized this business at more than it is worth, and now we have got to make enough money to keep up our dividend. I'll just put such a price on these goods as will allow us to make the amount of money we need." Would that be likely to accomplish the desired result? Hardly. What does the consumer care about the amount of money the merchant considers it necessary to make? The goods, presumably, have a certain value, and that value, or something approximating it, is all the purchaser is willing to pay. Let the merchant arbitrarily mark up the price, and one of two things will surely happen--the purchaser will either go somewhere else or will refuse to buy entirely.--Franklin Etcher: The Delicate Question of Railway Credit. North American Review, February, more

Product details

  • Paperback | 56 pages
  • 189 x 246 x 3mm | 118g
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 1236582322
  • 9781236582324