Railways In The United States; Their History, Their Relation To The State, And An Analysis Of The…

Paperback | February 2, 2012

bySimon Sterne

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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. 1912. Excerpt: ... CHAPTER II Leg1slat1on Concern1ng And Management Of Ra1lways 1n The Un1ted States Absence Of Governmental Superv1s1on After the passage by the State of New York, in 1850, of its general railway act (see the preceding chapter) there was inaugurated in the United States a deliberate withdrawal of governmental supervision from railway enterprises, on the theory that they were private businesses, to be left as unrestricted as the manufacture of boots or clothing. The New York law, with but slight modifications, was enacted by the various States, so as to promote railway building, and also to remove the corHipting tendency of special railway legislation. When each railway corporation was the recipient of a special grant by legislative enactment, the railways, in consequence of the large interests involved, corrupted the members of the legislature, and it was honestly supposed that by permitting everybody to build railways the principle of competition would be applicable. It was argued that there could be no such thing as monopoly in matters free to all, and that the rivalry between the respective lines for business would create, as to railway administration and railway management, the same beneficial results that rivalry and competition create in other private enterprises. The rapid development of the country from 1850 to 1857, under the low tariff, good crops, and general confidence, in connection with the rapid development of the railway system, prevented, down to that period of time, any evil effects arising from this absence of control from becoming apparent. Though some few evil consequences did come to the surface, yet these were so largely counteracted by the beneficial results of railway construction that the community regarded them as but passing vexa...

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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. 1912. Excerpt: ... CHAPTER II Leg1slat1on Concern1ng And Management Of Ra1lways 1n The Un1ted States Absence Of Governmental Superv1s1on After th...

Format:PaperbackDimensions:52 pages, 9.69 × 7.44 × 0.11 inPublished:February 2, 2012Publisher:General Books LLCLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0217746195

ISBN - 13:9780217746199

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