The Country's Need of Greater Railway Facilities and Terminals: Address Delivered at the Annual Dinner of the Railway Business Association, New York City, December 19, 1912Hill, James J. (James Jerome)
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The Country's Need of Greater Railway Facilities and Terminals: Address Delivered at the Annual Dinner of the Railway Business Association, New York City, December 19, 1912
Hill, James J. (James Jerome)
Railroad stations -- United States; Railroads -- United States -- Finance
Increases Per Cent.
1895 to 1905. 1905 to 1910. 1909 to 1910
Mileage 21 11 1.5
Locomotives 35 22 3.
Passenger Cars 23 16 3.3
Freight Service Cars 45 23 3.
Passenger Mileage 95 36 11.
Freight Ton Mileage 118 37 16.6
Business is beginning to feel the swell of a revival. The freight ton
mileage of the country was less by seventeen and a half billions in 1909
than in 1907, and very little more than in 1906. Contrast this with the
growth of the single year between 1909 and 1910. The freight ton mileage
grew in that year eleven times as fast as trackage, and five times as
fast as equipment. This ratio will be subject to increase rather than
decrease. It will be much greater in this year of large crops and added
tonnage. If any manufacturer were confronted with such conditions, it
would be clear to him that he must either refuse business or more than
double his plant. The railroad cannot refuse business. If it could do
so legally, that policy would still mean national panic and individual
ruin. It must enlarge its plant. Just what this means in the expenditure
of billions of dollars on new track and rolling stock I demonstrated
more than five years ago, and the facts have now been accepted by
all authorities. But even the existing plant cannot be worked to its
capacity without larger terminals. Hence the supreme importance at the
very outset of this factor of the transportation problem.
Public-domain text, read in full here on John Shaqi.
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