BY WILLIAM Z. RIPLEY, PH.D. Nathaniel Ropes Professor of Economics In Harvard University WITH 41 MAPS AND DIAGRAMS New Impression LONGMANS, GREEN AND CO. FOURTH AVENUE & 30TH STREET, NEW YORK 39 PATERNOSTER ROW, LONDON BOMBAY, CALCUTTA, AND MADRAS 1916 COPYRIGHT, 1912, BY LONGMANS, GREEN, AND CO. Published, November, 1912 Reprinted, November, 1913 September, 1916 THE·PLIMPTON·PRESS [W·D·O] NORWOOD·MASS·U·S·A...

This treatise is the outcome of a continuous personal interest in railroads, practically coincident in point of time with the period of active participation of the Federal government in their affairs. During these years, since 1887 when the Act to Regulate Commerce was passed, as the problem of public regulation has gradually unfolded, opportunity has offered itself to me to view the subject from different angles. At the Massachusetts Institute of Technology, as instructor of embryo engineers in

No attempt at an exhaustive historical account is herein attempted. Except as specially noted, the main reliance has been placed upon the following standard works:— Bogart, E. L. The Economic History of the United States, 1908. Callender, G. S. Selections from the Economic History of the United States, 1765-1860, 1909. Cleveland, F. A. (and Powell). Railroad Promotion and Capitalization in the United States, 1909. Coman, K. Industrial History of the United States, 1909. Gephart, W. F. Transporta

The subjoined chart, reproduced by the Railway Age Gazette from a bulletin of the Bureau of Railway Economics, brings out forcibly the manner in which, within the short time limits of full utilization of plant, a large increase of business can take place without a commensurate growth of expenses. The phenomenon for railroads is of course cyclical. Annually, as here indicated for 1911, the second half of the year is marked by a much heavier movement of traffic, principally, of course, the crops.

STANDARD OIL ROUTING —VIA— Grand Junction, Tenn....

The following good references on the subject-matter of chapter I will be found serviceable: 1907. Bishop, A. L. The State Works of Pennsylvania; Trans., Connecticut Academy of Arts and Sciences, XIII, pp. 1-298; and Yale Review , 1907, pp. 391-411. 1904. Paine, A. E. The Granger Movement in Illinois (Bibliography); Studies, University of Illinois, I, pp. 1-53. With this should be compared, The Effects of the Granger Acts, Journal of Political Economy , 1903, pp. 237-256....