Since the railroad system was inaugurated in 1831, the statutes of
this Commonwealth bear yearly evidence of the persistent and liberal
policy pursued by the legislature toward the railroads.
It would be tedious to enumerate the many acts which have been passed
loaning the credit of the State to aid the struggling corporations in
establishing and completing their lines.
Almost all the leading lines in the State sought and obtained this
aid, without which there must have been a great delay, if not failure
in accomplishing these enterprises; and here let me say, that with
the exception of the Hartford and Erie loan, and the losses arising
from the repayment by the Eastern, and Norwich and Worcester railroads
in legal tender instead of gold, there has never been a dollar lost by
the railroad loans of the State. The result has been to build up a
system of railroads, centering in the city of Boston, having no
superior, if equal, for completeness on this continent. Massachusetts
has more miles of railroad in proportion to population and territory
than any similar extent of territory in America.
And there can be no question that the prosperity of the State has
grown more from its railroad facilities, than from all other causes
combined.
There is another class of legislation to which we cannot look with
equal satisfaction. Every railroad charter contains provisions for the
regulation of fares and freights; and yet since the railroads were
established, no single act has been passed directly for this
regulation.
The question has involved so great difficulties that no legislature
has yet ventured to grapple with it. The tendency of legislation in
that direction is obvious. Commissioners have been appointed to
consider the subject and no result has followed. A Board of Railroad
Commissioners has been formed, which has been productive of great
good both to the railroad corporations, and to the people.
This board has been directed to fully consider and report some plan of
regulating fares and freights; and has reported that it cannot
recommend any means of reducing this transportation tax, by direct
legislation, but strongly advises the trial of State ownership, as the
only means of attaining the desired end.