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FORMERLY CHAIRMAN OF THE COMMITTEE ON RAILWAYS AND INTERNAL NAVIGATION IN THE LEGISLATURE OF VIRGINIA
NEW YORK & LONDON
G. P. PUTNAM'S SONS
The Knickerbocker Press
1889
COPYRIGHT BY
The Knickerbocker Press Electrotyped and Printed by
G. P. Putnam's Sons
CONTENTS.
PAGE
I-5
PUBLIC REGULATION OF RAILWAYS: Its Legal and Eco-
nomic Aspects Briefly Considered
CHAPTER I.—The Legal Aspects of the Question 5-26
Sources of Legislative Power.-The Railroad a Public High-
way.-Eminent Domain and Taxation in Aid of its Construc-
tion.-General Competition over Railroads.—Interchange of
Traffic.-Public Character of Uses to Which Railroad Property
is Dedicated.-Mode of Use and Price of Use Matters of
Legislative Regulation, unless Restricted by Charter Contracts.
-Delegation of Power.
CHAPTER II.
Limitation on Legislative Power Arising from Charter Con-
tracts. Strictly Construed against the Corporations.—Not
Binding Where Power to Amend, Alter, or Repeal Charters is
Reserved to the Legislature.-Examples of Application of the
Power to Amend, Alter, or Repeal.-Dual Character of Rail-
road Property Considered.-Private Ownership Restricted to
Public Use.-Right of Public Use Paramount to Private
Ownership.
CHAPTER III.
Limitation on Legislative Power Arising from the Private
Property Rights of Owners of Railways or Railway Securities.
-Power to Regulate Railway Charges, Analogous to Power of
Eminent Domain.-Can Only be Exercised for the Accomplish-
ment of Some Public Good, and must Not Deprive Owners of
Reasonable Income on Just Value of Property.-Just Value
Distinguished from Capitalization.-Regulation not Equivalent
27-44
45-65