...by which those conclusions were obtained, could ever gain the confidence of the public or serve as the basis of further legislation. Under such circumstances...the carrier's property, franchises, and equipment." This office therefore is placed under the legal obligation of making inquiry into the "cost and value"...

...those conclusions were obtained, could ever gain the confidence of the public or serve as the bas& of further legislation. Under such circumstances the...the carrier's property, franchises, and equipment." This office therefore is placed under the legal obligation of making inquiry into the " cost and value...

...legislation. Under such circumstances the need of an estimate hy competent anthority, frce from ontside influences and clothed with ample power for the investigation, was recognized as imperative. Such, withont douht, was the purpose of Congress in demanding information respecting the " cost and value...

...views on the imperative necessity for an estimate of the cost and value of the railways, to be made "by competent authority, free from outside influences...and clothed with ample power for the investigation." Coincident with this expression of his views in regard to cost, in his first report he discussed the...