Word: ownership
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Dates: during 1910-1919
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Epstein presented a remarkably clear argument, basing it upon three points: first, that private ownership of the railroads has been wholly unsuccessful; second, that a strict government supervision, while an improvement over the former plan, has not been conducive to the highest degree of efficiency; and finally, that the eventual successful operation of the roads lies in a policy of unlimited governmental control. The failure of the private system was due to the desire of the owners to realize the greatest possible amount of money out of the railroads at the expense of equipment, service, and general progress. That close...
...Henin took a middle ground, declaring that while private ownership has been a dismal failure, public ownership seems no better. The solution lies in adopting neither, but in enforcing a regime of private ownership under strict governmental regulation...
State management was attacked by C. T. Rand '13, who affirmed that this form of operation reflected upon the taxpayer, costing him more than the other system. Government ownership has been insecure and irregular in its working, and has resulted in a great increase of expenditures...
...Sayre '16 found public ownership successful in the highest degree. The highly centralized government of France has alone enabled her to solve a very difficult problem...
Most college graduates own or manage property to some extent,--to a far greater extent than the average of the community,--and therefore it is important for them to think clearly upon these subjects. For good or for evil our social system is based upon the private ownership of property; but property involves duties as well as privileges, and it is on the proper discharge of these that the ownership is morally if not practically conditioned. The first duty of the owner of property is to manage it himself so far as he can. So far as he cannot...