THE NATIONAL CHAMBER OF COMMERCE
the stability of which the hard-working and thrifty of our population
are so vitally interested.
Manifestly, proper aggregate earnings must be maintained, but
rates and the relation of rates between various commodities, particu-
larly the products of agriculture, should be established with great
care and, in case of proved inequality, secure prompt correction.
In a country of great distances like the United States it is very
important for the farmer, the laborer, the miner, the merchant, the
manufacturer, in fact, every producer and every consumer,—to have
the widest distribution of commodities, and the railway system is the
backbone of production and distribution, with which other forms of
transportation should be coordinated, to the end that lowest rates,
consistent with progressive development of facilities, may be
obtained.
The unrivaled railway system of the United States was created
through the courage, energy, brains and money of individuals.
Managed and operated by its owners, transportation has been fur-
nished to the people of this country of better quality and at lower
rates than to any other nation.
The nation, speaking through the last Congress, decided that it
wishes its railway system owned and operated by individual citizens
subject to regulation by Federal and State authority, and that it
does not want Government ownership or operation.
The Chamber of Commerce of the United States reiterates its
opposition to Government ownership or operation. It believes that
regulation is reasonable only when it is not so restrictive as to
cripple initiative and when it permits prompt action by those respon-
sible for results. Unduly restrictive laws retard the railways rather
than assist them to meet the needs of our increasing population and
commerce and, in the long run, work in the direction of increased
rather than reduced rates. (Resolution, Ninth Annual Meeting,
1921.)
TRANSPORTATION AcT oF 1920
The Transportation Act of 1920 placed in the Interstate Com-
merce law enactments which are of high importance, and which
were advocated by the Chamber. The Interstate Commerce Act
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