Winding Down
There was support among labor unions for continuing the nationalization of the railroads after the war. However, this position was not supported by Wilson nor the public generally, and legislation was drafted for returning the railroads to private ownership.
Congress passed the Esch-Cummins Act (Railroad Transportation Act) in February 1920, which substantially increased the ICC's powers over the railroads, and the USRA's authority ended on March 1, 1920. The ICC was given powers to approve or reject railroad mergers, to set rates, to approve or reject abandonments of service, and additional oversight responsibilities. The government also made financial guarantees to the railroads after control was handed back to them, to ensure their financial survival after the restoration of control.
Read more about this topic: United States Railroad Administration
Famous quotes containing the word winding:
“Man is the shuttle, to whose winding quest
And passage through these looms
God ordered motion, but ordained no rest.”
—Henry Vaughan (1622–1695)
“The prevalence of suicide, without doubt, is a test of height in civilization; it means that the population is winding up its nervous and intellectual system to the utmost point of tension and that sometimes it snaps.”
—Havelock Ellis (1859–1939)