Railroad Valuation

Some ten years ago the "anti-railroad" group in the Senate, led, of course, by La Follette, conceived the idea of investigating the value of American railroads, in order to determine whether or not they were over-capitalized, and if existing railroad rates as largely set by the Interstate Commerce Commission were too high. Advocates of this most elaborate of all recent Government investigations assumed that the work, could be done easily, quickly, with relatively small expense.

Starting in 1913, the work has proceeded ever since, and...

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