Harper's Pictorial Library of the World War, Volume XII : $b The Great Results of the War
History
Harper's Pictorial Library of the World War, Volume XII : $b The Great Results of the War
League of Nations; Treaty of Versailles (1919 June 28); World War, 1914-1918; World War, 1914-1918 -- Economic aspects; World War, 1914-1918 -- Finance
The defects of the Government administration of the railways have been
the subject of both criticism and apology. A diagnosis published by the
_Engineering News Record_ of New York states that the whole difficulty
is ascribed to the employment of bankers in high places of railway
management. Railroads, it was asserted, cannot be run by men of the
banking type of mind. The article continues:
"Here was, and is, an agency with daily influence on the life
of every member of the community, performing a service
essential to the nation's life. Yet it has few friends among
the people at large; more now than formerly, however, due to
the number of those whose pity has been excited at the
railroads' plight. The first of the railroads' plagues was the
type of management--manipulation, it would better be
called--which regarded the properties not as carriers but as
media for stock-jobbing operations. Consolidations with the
addition of water, and reconsolidations, with still more water,
were the order of the day; while those operating the properties
danced riotously over their territories waving insolently the
flag of 'The Public Be Damned.' Rebates, car-withholding
tyrannies, all manner of schemes were worked to aid the
favored few, while the purchasing methods honeycombed the
organization with rottenness.
"Then came the day for the people to have their say, and one
national and forty-eight State commissions began to bedevil the
carriers. What the stock-jobbers and the grafters had failed to
do the people in their vengeance helped to complete. The public
at large, which under intelligent management of the properties
would have been the railroads' best friend, had been alienated.
As a result we have had the drift into bankruptcy which has
been railroad history during the past decade. Instances need
not be cited. Each one can supply them from his own
neighborhood. Probably the mention of the New Haven will
furnish sufficient nausea to carry the right impression.
"And that _débâcle_ we attribute to the banking type of mind,
that type of mind that places personal profit ahead of all
other considerations. The engineering type of mind, we hold,
would have analyzed the purpose of the railroads--would have
seen that service to the public at large, and not to any
private interest, was the prime object, would have erected that
as the railroads' ideal and builded a machine for its
attainment."
BRITISH RAILWAY MANAGEMENT
Public-domain text, read in full here on John Shaqi.
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