Synopsis
Excerpt from The Importance of Competition Between Railways
F one will trace the course of a public pol icy that has failed he can usually find the f orks at which the wrong turn was taken; therefore, when a public policy becomes in effective, change should be preceded by a search for the causes of failure. To com prehend the conditions which required the Government to commandeer the railways in December, 1917, it is necessary to go back to the beginning of our railways.
In that beginning~when the railed way was an experiment our Governments, State and Federal, were eager and willing that private capital should incur all the hazards of its development; and, when its utility was demonstrated, these Governments, being poor, induced investors-to build the railways conformably to a public policy under which such investors, incorporated, were not only to build, and, to own, but, also to operatethe railways. Inconsistently, these privately owned and operated railways were declared to be highways. This incongruous arrange ment sprang from the assumption that the rail thoroughfares were to be a substitute for the common highways, which experience had shown might be owned by private corpora tions. Therefore, early railway legislation developed on the general lines prescribed for turnpikes and toll-roads, ignoring that it is not feasible for every person who may own a locomotive and a car to use a rail way in common with other like users. The seriousness of this mistake - Which was soon corrected in practice - lies in the erroneous public view of the railway it induced without correcting: the public failed to see that the State was creating a private monopoly.
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The Importance of Competition Between Railways (Classic Reprint)
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Paperback. Condition: New. Print on Demand. This thought-provoking book analyzes the historical relationship between the United States government and the country's railway system, uncovering the policies and decisions that have shaped their complex interplay over the decades. The author argues that the government's vacillating approach to railway regulation and ownership has led to a series of crises and missed opportunities, ultimately hindering the development of an efficient and equitable transportation network. The book meticulously examines the challenges and consequences of private ownership, the impact of government intervention, and the ongoing tension between the interests of investors, workers, and the public. Through a nuanced exploration of rates, labor relations, and technological advancements, this book offers a comprehensive understanding of the profound influence railways have had on the nation's economic growth, social mobility, and geopolitical standing. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. Seller Inventory # 9781333276621_0
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