Railways Versus Waterways: an Economic Comparison

The purpose in preparing this paper has been to assemble authoritative facts relative to past rail and waterway traffic in a form convenient for study and analysis so that conclusions or opinions relative to the economies of present and future railway and inland waterway transportation could be subjected to the acid test of a fair comparison with past records of freight transportation upon the railroads and waterways of the United States. The essential railway statistics from 1890 to 1924, inclusive, were assembled in graphic form in 1926, and on the theory that the pas t trend is the most probable indication of the trend in then near future, the demands of transportation and railway requirements to meet them are forecasted to lhe year 1950. It is shown that the railways during the 25-year period must expend approximately $11000000000 for freight capital cost of additional transportation facilities.