"Another, and an incalculable benefit, which would result from National ownership, would be the relief of State and National legislation from the pressure and corrupting practices of railway corporations, which constitute one of the greatest dangers to which republican institutions can be subjected. This alone renders the nationalization of the railways most desirable, and at the same time would have the effect of emancipating a large part of the press from a galling thraldom to the corporations.... "Estimated net annual saving to the public which would result from Government control: From consolidation of depots and staffs $20,000,000 From exclusive use of shortest routes 25,000,000 In attorneys' fees and legal expenses 12,000,000 From the abrogation of the pass evil 30,000,000 From the abrogation of the commission evil 20,000,000 By dispensing with high-priced managers and staffs 4,000,000 By disbanding traffic associations 4,000,000 By dispensing with presidents, etc 25,000,000 By abolishing all but local offices, solicitors, etc. 15,000,000 Of five-sevenths of the advertising account 5,000,000 ----------- Total savings by reason of better administration $160,000,000 "It would appear that, after yearly setting aside $50,000,000 as a sinking fund, there are the best reasons for believing that the cost of the railway service would be some $310,000,000 less than under corporate management. "That $6,000,000,000 is much more than it would cost to duplicate existing railways will not be questioned by the disinterested familiar with late reductions in the cost of construction, and that such a valuation is excessive is manifest from the fact that it is much more than the market value of all the railway bonds and shares in existence." The above quotations from Mr. Davis' article hardly do it justice, and it should be read in full to appreciate its full force. Many of the predictions and estimates are undoubtedly in the main correct, yet upon the whole it must be admitted that it is a rather rosy and too hopeful view to take of Government ownership of our railroads. _4. State ownership with private management._