The Regulation of Business affected by a Public Interest
The railroad was the first of the great monopolies to need regulation. The settler coming into a new, raw country was absolutely dependent upon transportation facilities; it was natural that he should treat the railroad like a spoiled child, and it was likewise natural that the railroad should take advantage of him. Human selfishness unless checked will always take such advantage. It must be remembered too that the securing of capital to bring a railroad into new territory was no easy task and the man who did it was entitled to a large reward. Abuse, however, was inherent in the system.
The farmer had one great Necessity—transportation. Transportation was in the hands of a monopoly—the railroad. The farmer was obliged to send his grain to market; the railroad, having Advantage on its side, demanded its price. The farmer answered that he could not pay it and have any profit. He appealed for justice and was told that there was common law governing public carriers which would relieve him from extortion. With confidence in our constitution and the
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