Jay Gould Said Railroad Rates Should Be Set by “the Laws of Supply and Demand”

(p. 344) Jay Gould, asked in 1885 by a Senate investigating committee if he believed a “general national law” was needed to regulate railroad rates, responded that they were already regulated by “the laws of supply and demand, production, and consumption.”

Source:
Nasaw, David. Andrew Carnegie. New York: Penguin Press, 2006.
(Note: the pagination of the hardback and paperback editions of Nasaw’s book are the same.)

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