QUESTIONS ON THE TEXT
1. What is the economic basis of natural monopoly?
2. Describe the regulation of local utilities.
3. Give the chief arguments in favor of municipal ownership.
4. What arguments are advanced against municipal ownership?
5. What is the extent of municipal ownership in this country?
6. Name some of the fundamental conditions of municipal ownership.
7. Outline briefly the development of railroads in this country.
8. How does the principle of decreasing cost apply to railroads?
9. Discuss the evils resulting from railroad development.
10. Why did State regulation fail to eliminate these evils?
11. Discuss the nature and effect of the Interstate Commerce Act.
12. Give the chief arguments in favor of national ownership of railroads.
13. What are the chief arguments against this step?
14. When and why were the railroads taken over by the Government?
15. Explain clearly the nature of the results of government control of railroads.
16. Enumerate the laws under which the Interstate Commerce Commission now administers the railroads.
17. Summarize present railroad legislation with regard to
(a) discriminations,
(b) rates, and
(c) the extension of Federal control authorized under the Act of 1920.
18. What is the greatest problem now before the Commission?