And there can be no question that the prosperity of the State has grown more from its railroad facilities, than from all other causes combined. There is another class of legislation to which we cannot look with equal satisfaction. Every railroad charter contains provisions for the regulation of fares and freights; and yet since the railroads were established, no single act has been passed directly for this regulation. The question has involved so great difficulties that no legislature has yet ventured to grapple with it. The tendency of legislation in that direction is obvious. Commissioners have been appointed to consider the subject and no result has followed. A Board of Railroad Commissioners has been formed, which has been productive of great good both to the railroad corporations, and to the people. This board has been directed to fully consider and report some plan of regulating fares and freights; and has reported that it cannot recommend any means of reducing this transportation tax, by direct legislation, but strongly advises the trial of State ownership, as the only means of attaining the desired end. THE EFFECT IN OUR EXISTING SYSTEM. While it may be said that under the present system of railroads, the Commonwealth has been prosperous, there are drawbacks and defects which need careful examination, and if possible a remedy. To those who are familiar with the condition of our manufactures, the most striking want is the failure of our home market for our productions. We are tributary to New York in many ways. The great sale of our manufactured goods is made in New York, and goes to build up a rival city. Our great commission houses have been compelled to establish branches in New York, which in a short time have surpassed in business and in importance the home establishments. If we could have kept at home the sale of our manufactured goods--have retained here in Boston the great houses through which the exchanges are made--could have brought to New England the purchasers from the West and South, it would have vastly increased the prosperity of Boston and of New England.