The Present Financial Situation of the American Railroads

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Excerpt from The Present Financial Situation of the American Railroads: Considered With Reference to Senator Cummins' Speech in the Senate of the United States on April 13, 1914 In other words, it is recognized and must be the basic principle of further discussion, that for the sake of the general welfare Of the United States, disregarding the possibly selfish or personal interests of railway employes, railway creditors, railway owners and railway managers, it is necessary that the railway revenues Should continuously supply sufficient funds to meet all expenses of operation, including liberal wages and adequate repairs and renewals, to pay all taxes, and to afford a fair and attractive return to investors, the latter safeguarded by a marginal surplus large enough to justify confidence that it will not fail on account of any merely temporary industrial depression. Nothing less would satisfy Senator Cummins' statement of this guiding principle. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully, any imperfections that remain are intentionally left to preserve the state of such historical works.