Transportation PREFACE THIS series of books owes its existence to the generosity of Messrs. Hart, Schaffner, and Marx of Chicago, who have shown a special interest in trying to draw the attention of American youth to the study of economic and commercial subjects, and to encourage the best thinking of the country to investigate the problems which vitally affect the business world of to-day. For this purpose they have delegated to the undersigned Committee the task of selecting topics, making all announcements, and awarding prizes annually for those who wish to compete. In the year ending June 1, 1906, the following topics were assigned: 1. To what extent, and by what administrative body, should the public attempt to control railway rates in interstate commerce? 2. A just and practicable method of taxing railway property. 3. Will the present policy of the labor unions in dealing with non-union men, and the "closed shop," further the interests of the workingmen? 4. Should ship subsidies be offered by the government of the United States? 5. An examination into the economic causes of large fortunes in this country. 6. The influence of credit on the level of prices. 7. The cattle industry in its relation to the ranchman, feeder, packer, railway, and consumer. 8. Should the government seek to control or regulate the use of mines of coal, iron, or other raw materials, whose supply may become the subject of monopoly? 9. What provision can be made for workingmen to avoid the economic insecurity said to accompany the modern wage-system? A First Prize of One Thousand Dollars, and a Second Prize of Five Hundred Dollars, in cash, were offered for the best studies presented by Class A, composed exclusively of all persons who had received the bachelor's degree from an American college in 1894 or thereafter. The present volume was awarded the second prize. PROFESSOR J. LAURENCE LAUGHLIN, University of Chicago, Chairman. PROFESSOR J. B. CLARK, Columbia University. PROFESSOR HENRY C. ADAMS, University of Michigan. HORACE WHITE, ESQ., New York City. HON. CARROLL D. WRIGHT, Clark College. CONTENTS BIBLIOGRAPHY, xi. I. INTRODUCTION, 1-5. A. Use of the term "subsidy," 1, 2. C. Difficulties surrounding consideration, 3-5. 2. The question an international one, 4. 2. In foreign trade, 7, 8. C. Effect of legislation upon tonnage, 23-26. 2. In foreign trade, 24-26. III. PRESENT STATUS OF AMERICAN SHIPPING, 27–57. A. In coastwise trade, 27-30. 1. Tonnage, 27, 28. 2. Efficiency, 28, 29. 3. Reasons for growth, 29, 30. a. Growth in trade, 29. b. Monopoly, 29, 30. B. In foreign trade, 30-57. 1. Tonnage, 30-32. 2. Efficiency, 32. 3. Reasons for existing conditions, 32-57. hart, Schaffner & Marr Prize Economic Essays THE CAUSE AND EXTENT OF THE RECENT INDUSTRIAL PROGRESS OF GERMANY. By Earl D. Howard. THE CAUSES OF THE PANIC OF 1893. By William J. Lauck. INDUSTRIAL EDUCATION. By Harlow Stafford Person, Ph.D. FEDERAL REGULATION OF RAILWAY RATES. By Albert N. Merritt, Ph.D. SHIP SUBSIDIES. An Economic Study of the Policy of Sub- THE STANDARD OF LIVING AMONG THE INDUSTRIAL HISTORY AND ORGANIZATION OF CRIMINAL STATIS- SOCIAL VALUE. By B. M. Anderson, Jr. FREIGHT CLASSIFICATION. By J. F. Strombeck. WATERWAYS VERSUS RAILWAYS, By Harold Glenn Moulton. THE VALUE OF ORGANIZED SPECULATION. By Harrison H. Brace. INDUSTRIAL EDUCATION: ITS PROBLEMS, METHODS AND DANGERS. By Albert H. Leake. THE UNITED STATES INTERNAL TAX HISTORY FROM 1861 TO 1871. By Harry Edwin Smith. WELFARE AS AN ECONOMIC QUANTITY. By G. P. Watkins. CONCILIATION AND ARBITRATION IN THE COAL INDUSTRY IN THE UNITED STATES. By Arthur E. Suffern. THE CANADIAN IRON AND STEEL INDUSTRY. By W. J. A. Donald. HOUGHTON MIFFLIN COMPANY BOSTON AND NEW YORK |