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OCR Page 1 of 5TRANSPORTATION THEAR PRESENT SITUATION
COP
About a year ago I discussed from the Capitol Building of the United
States roads and what they had meant to the country. Now from the same
building I am to talk with you for a few minutes about railroads and what
they mean to the country.
For about fifteen months it has been my privilege to serve on a special
Subcommittee of the Senate Interstate Commerce Committee investigating
railroad finance. A great many abuses have been brought to light by this
investigation and the present financial plight of the railroads has been
very forcibly brought to the attention of the Committee.
Railroads are the principal means of transportation in the United
States today and I am sincerely of the opinion that their ills should be
cured. It is my opinion that private ownership and operation will continue
to be in the public interest. The present condition of the rails has been
brought about by several causes. First, their financial management has
been bad in a great many instances. This is particularly true of those
roads in receivership which the Senate Special Committee investigated.
Second, the railroads have been placed in a straight-jacket by legislation.
Between rates and taxes and social legislation they find themselves,
especially in times of stress, totally unable to meet all expenses and still
furnish adequate service. Their competitors, buses, trucks and water ways,
have been subsidised and the railroads have been taxed to meet the subsidy.
The railroads were in a great measure subsidised also when they were built.
Cities, counties, states and the national government gave the railroads
money, credit and lands for construction. Their present condition was
TRUMAD NARA
Terms
Subject
Railroads
Relations
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