Commission.
The expenses of the railroads have been increased by demands of
labor, by constantly rising prices and cost of rails, cars,
terminals, and facilities, but we have been against allowing the
railroads to meet this increased cost of operation by adequate
advances in rates. We now see that this course was starving the
railroads, and we are suffering for want of cars and locomotives
to move our traffic and terminals to care for it. We are also
suffering because the old treatment of the railroads has frightened
capital so that the roads cannot get money to maintain their lines
and make necessary improvements to meet the demands of business.
We know now that rates make very little difference, because they
can be absorbed in our business. What we must have is facilities
to transport our products, and we want to help the railroads to get
money and credit, and again we emphasize our whole trouble is
want of cars, locomotives, and terminal facilities."

Happily, public opinion was reflected in the last Congress in the
passage of the Cummins-Esch bill, which is the most enlightened
and adaptable legislation of the last quarter of a century.

To return to the conference at Saratoga, the New York Central,
the Pennsylvania, and the Erie came to the conclusion that they
must have the co-operation of the Baltimore and Ohio. As
Mr. Garrett, president and controlling owner of that road, would
not come to the conference, the members decided that the emergency
was so great that they must go to him. This was probably the most
disagreeable thing Commodore Vanderbilt ever did. The marvellous
success of his wonderful life had been won by fighting and defeating
competitors. The peril was so great that they went as associates,
and the visit interested the whole country and so enlarged
Mr. Garrett's opinion of his power that he rejected their offer
and said he would act independently. A railway war immediately
followed, and in a short time bankruptcy threatened all lines,
and none more than the Baltimore and Ohio.

The trunk lines then got together and entered into an agreement
to stabilize rates and carry them into effect. They appointed
as commissioner Mr. Albert Fink, one of the ablest railway men
of that time. Mr. Fink's administration was successful, but the
rivalries and jealousies of the lines and the frequent breaking
of agreements were too much for one man.

The presidents and general managers of all the railro