Page:The truth about the railroads (IA truthaboutrailro00elli).pdf/87

Rh return upon capital invested. An investment in a bank, in a factory, in a mercantile, manufacturing, or agricultural business is substantially free from regulation by the Government and exempt from any duty to the public except that of paying taxes. If the business in which such an investment is made is unprofitable, its owners may promptly discontinue its operation until more prosperous days come and then return to their undertaking. An investment in a railroad which operates in many States is subject to the regulation of its business by many governments. Its owners owe the duty to the governments and to the public to operate their railroad continually in days when its operation is unprofitable as well as when it is remunerative, a duty they must discharge under the penalty of the forfeiture of their property, if they fail. In view of these facts, they ought to be permitted to receive a return large enough to enable them to accumulate in prosperous days a surplus sufficient to enable them to protect their property in days of disaster and to make their average return Rh