The regulation of railroads by the government has a deep significance. It came only after the public was thoroughly convinced that the railroad business was necessarily monopolistic in character, and that private individuals were powerless in coping with the problems of transportation. The various railroad laws show that the public, while slow to act, can be aroused when its vital interests are in jeopardy. What it did in the case of railroads it can do in any other case; and the important thing for us to remember is that the interests of society are paramount, and must be conserved at all hazards.

There is, however, a vital difference between government regulation and government ownership. The latter is far more revolutionary in its nature and involves greater administrative problems.