Excerpt from Hearings Before Joint Committee of the Senate and House of Representatives on Interstate and Foreign Commerce: Under Senate Joint Resolution, to Investigate Government Control, Regulation and Ownership of Interstate Public Utilities

It went on relentlessly and without yielding on either side, and when the victory came, it came on the side of the public conception of the public character of these instru mentalities of commerce, but it was a victory won in anger, it was a victory which was the outcome of fierce con¿ict, and the terms that were imposed were the terms of the victor upon the vanquished and re¿ected merely the purpose to apply in the principles of the system of regulation the forces of correction and punishment. So this system, which was established by the National Government twenty-nine years ago, was the outcome of this bitter con¿ict of policies and views and conceptions, and looked only to what the public had in its mind, and that was the eradication of abuses.

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