Word: rates
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Dates: during 1920-1929
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...affirmative direction to the Interstate Commerce Commission to fix rates which shall yield the railroads as a whole, or by groups, a fair return on their value. For two years, a return of 5 1-2 percent, was fixed by Congress as a fair return. After two years the Commission was authorized to fix the rate and has recently set it at 5 3-4 percent. This direction to the Commission did not constitute a guaranty either to railroads as a whole or individually. The Commission was merely directed to fix rates which should produce a fair return...
...directed to prepare a plan for the consolidation of all railroads in the United States into a limited number of systems with which plan future consolidations must be in harmony. These systems are to be arranged, so far as possible, so that the cost of service under uniform rate scales shall be the same, but, where practicable, existing routes are not to be disturbed and competition is to be maintained...
Judged alone by the developments since the passage of the Act, it has not been entirely successful. In August, 1920, the Commission fixed rates which, it was expected, would yield the railroads 6 percent on their value. If there had been no depression in business this result might have been attained, but in 1921 the aggregate return was only slightly in excess of 3 percent. The recapture provision has not yet been an issue as few roads have earned in excess of 6 percent. The provision as to rate divisions has been the subject...
...German mark goes galloping down, and has now passed the point of 5,000 for a dollar. At its present rate it must soon overtake the Russian ruble hitherto the unquestioned leader in the progress toward infinite nonentity...
Unfortunately or perhaps fortunately--there is no time to wait and sec. Choose at random and then enjoy yourself. At any rate the book will serve as something to talk about...