Mr. Vanderbilt immediately issued a statement that the rates to the seaboard should be the same to all ports, and that the New York Central would meet the lowest rates to any port by putting the same in effect on its own lines. The result was the greatest railroad war since railroads began to compete. Rates fell fifty per cent, and it was a question of the survival of the fittest. Commerce returned to New York, and the competing railroads, to avoid bankruptcy, got together and formed the Trunk Line Association. New York City has not always remembered how intimately bound is its prosperity with that of the great railroad whose terminal is within its city limits. Mr. Vanderbilt found that the railroad and its management were fiercely assailed in the press, in the legislature, and in municipal councils. He became convinced that no matter how wise or just or fair the railroad might be in the interests of every community and every business which were so dependent upon its transportation, the public would not submit to any great line being owned by one man. The Vanderbilt promptness in arriving at a decision was immediately shown. He called upon Mr. Pierpont Morgan, and through him a syndicate, which Morgan formed, took and sold the greater part of Mr. Vanderbilt's New York Central stock. The result was that the New York Central from that time was owned by the public. It is a tribute to the justice and fairness of the Vanderbilt management that though the management has been submitted every year since to a stockholders' vote, there has practically never been any opposition to a continuance of the Vanderbilt policy and management. Among the most important of the many problems during Mr. Vanderbilt's presidency was the question of railway commissions, both in national and State governments. In my professional capacity of general counsel, and in common with representatives of other railroads, I delivered argumentative addresses against them. The discussions converted me, and I became convinced of their necessity. The rapidly growing importance of railway transportation had created the public opinion that railway management should be under the control and supervision of some public body; that all passengers or shippers, or those whose land was taken for construction and development, should have an appeal from the decision of the railway managers to the government through a government commission.