Elementary economics; by Carlton Frank Tracy 1873-

Author:Carlton, Frank Tracy, 1873- [from old catalog]
Language: eng
Format: epub, pdf
Tags: Economics
Publisher: New York, The Macmillan company
Published: 1920-03-25T05:00:00+00:00

CHAPTER XII RAILWAY TRANSPORTATION

The Importance of the Railway. Regular, rapid, and safe means of transportation is essential to modern complex civilization. Interstate and international trade, minute division of labor, world markets, and great corporations are dependent upon excellent means of communication and transportation. Railways are, indeed, the arteries of the bushiess world. Stop the movement of the freight trains, and business activities stop also. Thanks to the railway and the steamship, different parts of the nation and of the world can exchange products, and men are no longer restricted in their consumption to the products of the locality in which they live. The manufacturing city gets its food supply with the aid of the railway and steamship from distant Dakota, California, or Cuba; its iron ore from the Lake Superior district and its cotton from the South.

The political significance of transportation as well as its industrial or economic importance cannot easily be overemphasized. The modern nation is literally tied together by the heavy steel rails of the railway and the wires of the telegraph and the telephone. The steamship, the submarine, and the airship are eliminating the isolation caused by the ocean. The World War has conclusively proved to the American people that we can no longer live in political and economic isolation from the rest of the world.

The railway industry is one of the largest in the United States. Nearly two million workers are employed by our

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