Publisher's Synopsis
Excerpt from The Political Aspects of the Railroad Rate Question: An Introduction to the Study of the Subject, October 9, 1905
Next the Commission assumed that it was by implication of law invested with the power to prescribe rates for the future, but in this it was overruled by the Supreme Court of the United States in the Maximum Rate Case decided in 1897 - 167 U. S., 479. Ever since the Commission has strenuously sought to secure the desired power through legislative action.
The general views which the Commission has announced in regard to the nature of its function may properly be characterized as of the Populistic sort, all tending toward the bureaucratic or autocratic exercise of governmental power.
In the following statement, which is in the nature of an introduction to the study of the political aspects of the question under consideration, I shall confine attention, first, to the nature of the proposition in favor of governmental rate-making, and, second, to the-inevitable political results of the adoption of such a policy as clearly indicated by the unmistakable lessons of history.
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