Excerpt from Will the Railroad Act of 1920 Solve the Railroad Problem? All of this is now changed. A silent revolution has taken place in the minds of men. Competition is recognized as im possible. Accordingly the Railroad Act of 1920 authorizes pooling, and the leasing of one railroad to another,3 and the purchase by one railroad of the stock of another.' It author izes the consolidation of railroad systems and goes farther and directs the Commission to formulate a plan for consolidating all the railroads of the country into a few systems.6 The Act of 1920 authorizes, with the consent of the Commission, the acquisition of one railroad by another, by lease or stock con trol or in any other manner, except by consolidation. Even consolidation is authorized, but competition shall be preserved as fully as possible. That preservation of competition is feeble indeed. Then there is another fundamental departure in the Act of 1920, namely, that the Commission shall make railroad rates high enough to pay at least on the value of the railroads for two years at least. This approaches real public control and the elimination of private control. The government is being swept by the cur rent of events into greater and more absolute control. It is dictating rates, as well as expenses. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com 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.