In Chicago last week, three men—one little, two big—sat down with grim-faced representatives of 137 Class I railroads and 19 railroad unions. The three were the National Mediation Board, and their problem, in their own words, was the "biggest" the board has ever faced: to arbitrate the three-month-old deadlock between railroad managements' demand for and railroad workers' refusal of a 15% wage cut.

When U. S. railroads returned to private hands after the War, the Transportation Act of 1920 created a U. S. Railroad Labor Board of nine. Woodrow Wilson's sensible appointees...

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