File:History of the Old Colony Railroad - a complete history of the Old Colony Railroad from 1844 to the present time in two parts (1893) (14736251696).jpg

Identifier: historyofoldcolo00bost (find matches)
Title: History of the Old Colony Railroad : a complete history of the Old Colony Railroad from 1844 to the present time in two parts
Year: 1893 (1890s)
Authors:
Subjects: Old Colony Railroad Company Industries Railroads
Publisher: Boston : Hager & Handy
Contributing Library: Smithsonian Libraries
Digitizing Sponsor: Smithsonian Libraries

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one other fact of great moment, which should be carefully weighedin the consideration of this question of reduction.of rates: The public demand upon the railroad corporations during the past ten yearsfor improved accomodations has been constant, and the managers of this cor-poration have endeavored to meet it. The increase in the number of our trainshas been very great. The increased speed demanded for express trains has beenattended by greatly increased expense, requiring more perfect and costly-engines; more substantial road beds and tracks; more watehful care in theoperation of the road, — in a word, an increased expense in all the materialsand labor used and employed by the corporation. Iu my view, speaking with the experience of a life-time in railroad man-agement, there is great danger to the public interests in endeavoring to undulyforce down rates and fares and freights upon railroads. Our railroadsare yet far from perfect; great expenditures of capital must yet be made upon
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OLD COLONY RAILROAD. 97 the existing roads, to enable them to render the highest service to the publicof which they are capable. Branches must be buijt, to the expense of whichthe main lines must contribute. In my judgment, if the feelings of which youspeak as existing in the popular mind and in the legislature, upon thesubject of proper concessions by the railroad corporations, lead to anunreasonable restraint upon the power given to railroad corporations to fixtheir own fares and freights, the result will be disastrous. The prosperity ofrailroads is dependent upon and coincident with the growth and prosperity ofthe community they serve. Hence, self-interest will induce them to make theirrates as favorable to the business on their lines as circumstances wMl allow. The investment of capital in railroads has been of untold benefit to thepeople of this commonwealth, while it has hitherto made but moderate returnsto its owners. The roads have been in general economically built and carefu

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