| Show RAILROAD RATE legislation testifying before the senate corn com cittee at washington inter state commerce commissioner prouty said in discussing the proposition to give to that commiss on the power to regu late railway rates I 1 think the railways should make their own rates I 1 think they should be allowed to develop their own bust ness I 1 have never advocated any law and I 1 am not now in favor of any law which would put the rate making power into the hands of any com or any court while it may be necessary to do that some time while that is done in some states at the present time while it is done in some countries I 1 am opposed to it the railway rate is property it is all the property that the railway has got the rest of its property Is not good for anything un less it can charge a rate now it has always seemed to me that when a rate was fixed if that rate was an un reasonable rate it deprives the rail road company of its property pro tanto it Is not necessary that you should confiscate the property of a railroad it is not necessary that you should say that it shall not earn three per cent or four per cent when you put in a rate that Is inherently unreasonable you have deprived that company of its rights of its property and the circuit court of the united baates has jurisdiction under the four amendment to restrain that I 1 have looked at these cases a great many times and I 1 can only come to the conclusion that a rail road company Is entitled to charge a fair and reasonable rate and it if any order of a commission it if any statute of a state legislature takes away that rate the fourteenth amendment protects the rail railway vay company some women say nice things in a way that brings a feeling of pride as well as satisfaction |
