Ripley, W: Railroads -

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Résumé :
Excerpt from Railroads: Rates and Regulation

Nor is the history of the assumption by public authority Of its inherent right to control railroads, as narrow an interest as it at first appears. Transportation, as a service, is the commodity produced by common carriers. The manner in which the price of this commodity has been brought under governmental regulation has a direct bearing upon another problem just beginning to open up; namely that of the con trol by the state Of the prices Of other things._ It is not unlikely, in my judgment, that the final solution of the so called Trust Problem in the United States, whether for good or ill, may ultimately contain as one important feature, the determination by governmental authority Of reasonable prices for such prime necessities Of life as milk, ice, coal, sugar and Oil, when produced under monopolistic conditions. This View is shared by my colleague Professor Taussig in his Principles of Economics.' It is also distinctly set forth by President Van Hise of the University of Wisconsin, in his recent Con centration and Control. When the seed Of such an industrial policy is planted, as I believe it possible in time, the soil will have been richly prepared for its reception by our experience in the determination of reasonable charges for the services of railroads and other public utilities.

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