years, unless
sooner removed by the President, upon reasons to be communicated by him
to the Senate. He should not be interested either directly or indirectly
in railroad securities. The Interstate Commerce Commission should be
continued as an advisory board. It should upon the whole retain its
present functions and should be consulted by the director-general in all
matters requiring expert investigation. A number of divisions or
sub-bureaus should be established, and each should be entrusted, under
the supervision of the director-general, with such duties as may be
deemed necessary to secure the greatest efficiency.

There should be a division charged with the duty of carefully examining
and compiling the detailed reports which the various companies should by
law be required to make to the bureau. An inspection service should also
be established, similar to that now maintained by the Treasury and
Post-office Departments. Its officers should be empowered to enter all
railroad offices and examine the companies' books, board trains and
employ other legal means to detect violations of the railroad law and
report them to the chief of the bureau.

Railroad companies might be permitted to make interstate rates, but all
schedules should be submitted to the bureau for approval or revision.
Legal provision should be made against every sort of speculation in
railroad stocks on the part of railroad officers, who should, in
addition, be prohibited from sharing in the profits of favorite rates,
as at present. All executive officers and directors of railroad
companies should, like officers of national banks, be required to
qualify by taking an oath of office, and should be held to strict
accountability for their official acts. Officers of railroad companies
should not be allowed to receive and use proxies at stockholders'
meetings.

The director-general should have the power, when he has proof that a
railroad manager is persistently violating the law, to remove him and to
appoint a receiver to take charge of the road until its owners can make
provision and furnish sufficient guarantee for a more responsible
management. Such a procedure would not be without analogy in the sphere
of Federal authority. The Comptroller of the Currency is authorized by
law to remove the derelict officials of a national bank and place its
business in charge of a receiver. The beneficial effect of this
provision is evinced in the extreme rareness of such