The Importance of Competition Between Railways (Classic Reprint)

The Importance of Competition Between Railways (Classic Reprint)


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. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.

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Edward Dudley Kenna
Hardback | 48 pages
152 x 229 x 6mm | 222g
Publication date
30 Dec 2018
Forgotten Books
Illustrations note
6 Illustrations; Illustrations, black and white