The Senate passed its first important piece of railroad legislationthe Gooding long and short haul bill. The bill has to do with a phase of railroad rate-making usually referred to by the words "Charge whatever the traffic will bear." This does not necessarily mean, as it is sometimes interpreted, to raise rates as high as possible. The object of the Gooding bill is to prevent the railroads from lowering certain rates. The problem came up in 1887 and was referred to the Interstate Commerce Commission. The existence of the Panama Canal has...
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