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COPYRIGHT, 1920

GUARANTY TRUST COMPANY OF NEW YORK

Foreword

HE Transportation Act, 1920, approved Febru

THI

ary 28, 1920, by which the Government returns the railroads to their owners, is one of the most important reconstruction measures that Congress has enacted. Many plans for the return of the roads to private control were submitted. The new legislation embodies the plan and the conditions upon which Congress has decided the President shall relinquish control, and the owners resume operation, on March 1, 1920.

The text of the law has been printed from the report of the Conference Committee and, although we cannot guarantee its accuracy, we believe it to be correct.

This booklet contains a general summary and the text of the Transportation Act, 1920, fully indexed, together with a brief review of prior laws pertaining to Federal regulation.

GUARANTY TRUST COMPANY OF NEW YORK.

March 1, 1920.

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