THE NATIONAL CHAMBER OF COMMERCE 
Congress should pass a general railroad incorporation law under 
which all railroad carriers subject to the jurisdiction of the Interstate 
Commerce Commission may organize. 
If Congress passes a railroad incorporation law, all railroad 
carriers subject to the jurisdiction of the Interstate Commerce Com- 
mission, both those now existing and those hereafter to be created, 
should be required to organize under this law. 
In view of the fact that conflict has arisen with respect -to the 
jurisdiction of the Interstate Commerce Commission over intrastate 
rates, even though such rates affect interstate commerce, the com- 
mission should be given authority by statute to regulate intrastate 
rates when those rates affect interstate commerce. (Referendum 
No. 21, submitted September 12, 1917.) 
REMEDIAL RAILROAD LEGISLATION 
The policy of corporate ownership and operation, with compre- 
hensive regulation should be adhered to. 
Roads should be returned to corporate operation as soon as 
remedial legislation can be enacted. 
The period of federal control as now fixed should be adhered 
to unless and until impossibility of remedial legislation in this period 
clearly appears. 
There should be permission for consolidation in the public 
interest with prior approval by government authority, in a limited 
number of strong competing systems. 
There should be a requirement that railroad companies engaging 
in interstate commerce become federal corporations, with rights of 
taxation and police regulation reserved for states. 
There should be exclusive federal regulation of capital expendi- 
tures and security issues of railroads engaged in interstate com- 
merce, with provision for notice and hearing for state authorities. 
Intrastate rates affecting interstate commerce should be under 
federal regulation. 
There should be a statutory rule providing that rates in each 
traffic section shall yield an adequate return on a fair value of the 
property as determined by public authority. 
There should be a federal transportation board to promote 
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