Amount of Capital Invested in Railways--Important Place in the Modern Industrial System--The Duke of Bridgewater's Foresight--The Growth of Half a Century--Early Methods of Business Management--The Tendency toward Consolidation--How the War Developed a National Idea--Its Effect on Railroad Building--Thomson and Scott as Organizers--Vanderbilt's Capacity for Financial Management--Garrett's Development of the Baltimore & Ohio--The Concentration of Immense Power in a Few Men--Making Money out of the Investors--Difficult Positions of Stockholders and Bondholders--How the Finances are Manipulated by the Board of Directors--Temptations to the Misuse of Power--Relations of Railroads to the Public who Use Them--Inequalities in Freight Rates--Undue Advantages for Large Trade Centres--Proposed Remedies--Objections to Government Control--Failure of Grangerism--The Origin of Pools--Their Advantages--Albert Fink's Great Work--Charles Francis Adams and the Massachusetts Commission--Adoption of the Interstate Commerce Law--Important Influence of the Commission--Its Future Functions--Ill-judged State Legislation. THE PREVENTION OF RAILWAY STRIKES 370 BY CHARLES FRANCIS ADAMS, _President of the Union Pacific Railroad_. Railways the Largest Single Interest in the United States--Some Impressive Statistics--Growth of a Complex Organization--Five Divisions of Necessary Work--Other Special Departments--Importance of the Operating Department--The Evil of Strikes--To be Remedied by Thorough Organization--Not the Ordinary Relation between Employer and Employee--Of what the Model Railway Service Should Consist--Temporary and Permanent Employees--Promotion from one Grade to the Other--Rights and Privileges of the Permanent Service--Employment during Good Behavior--Proposed Tribunal for Adjusting Differences and Enforcing Discipline--A Regular Advance in Pay for Faithful Service--A Fund for Hospital Service, Pensions, and Insurance--Railroad Educational Institutions--The Employer to Have a Voice in Management through a Council--A System of Representation. THE EVERY-DAY LIFE OF RAILROAD MEN 383 BY B. B. ADAMS, JR., _Associate Editor, "Railroad Gazette," New York_.