Is it possible for us to make an analysis which will disclose this element that has wrought such a strangely different result here in our country? It… - Calvin Coolidge

This country would not be a land of opportunity, America could not be America, if the people were shackled with government monopolies.

Lafayette was always an interested student of our affairs. Though he distrusted the effort to make France a republic, he believed greatly in our Republic and our Constitution. He had fought to establish American independence, in order that these might come into being. That independence to which he contributed has come to be with us a national axiom. We have always guarded it with the utmost jealousy. We have sought to strengthen it with the Monroe Doctrine. We have refrained from treaties of offensive and defensive alliance. We have kept clear from political entanglements with other countries. Under this wise and sound policy America has been a country on the whole dedicated to peace, through honorable and disinterested relations with the other peoples of the earth. We have always been desirous not to participate in controversies, but to compose them. What a success this has brought to us at home, and what a place of respect and moral power it has gained for us abroad, is known of all men.

In my message last year I emphasized the necessity for further legislation with a view to expediting the consolidation of our rail ways into larger systems. The principle of Government control of rates and profits, now thoroughly embedded in our governmental attitude toward natural monopolies such as the railways, at once eliminates the need of competition by small units as a method of rate adjustment. Competition must be preserved as a stimulus to service , but this will exist and can be increased under enlarged systems. Consequently the consolidation of the railways into larger units for the purpose of securing the substantial values to the public which will come from larger operation has been the logical conclusion of Congress in its previous enactments, and is also supported by the best opinion in the country. Such consolidation will assure not only a greater element of competition as to service, but it will afford economy in operation, greater stability in railway earnings, and more economical financing. It opens large possibilities of better equalization of rates between different classes of traffic so as to relieve undue burdens upon agricultural products and raw materials generally, which are now not possible without ruin to small units owing to the lack of diversity of traffic. It would also tend to equalize earnings in such fashion as to reduce the importance of section 15A, at which criticism, often misapplied, has been directed. A smaller number of units would offer less difficulties in labor adjustments and would contribute much to the, solution of terminal difficulties.