Excerpt from Constitutionality of the Proposal in Senate Bill 2906 (66th Cong., 1st Sess.) To Take From a Carrier a Part of Its Earnings on Lawful Rates It should be observed that this requirement is not made as a condition for the exercise of any fran chise granted to the carrier by the Federal Govern ment. It is to be considered in its application to car riers chartered bv the States and entitled to engage in interstate commerce on compliance with such regula tions as Congress may constitutionally prescribe. U nder the doctrine of the recent decision in H ammer v. Dagenhart (247 U. S. The right to engage in the business of transporting passengers, or of ordi nary and Wholesome commodities, between the States, while subject to appropriate regulation, may not be deemed to be subject to the absolute prohibition of Congress and hence is not to be regarded as a privi lege to be granted on any terms Congress may see fit to impose. Nor is the requirement with respect to excess earnings imposed as a condition of the enjoyment of any guaranty as to earnings Which has been given by the Federal government and accepted by the car rier, thus constituting a contract governing the car rier's operations. The carrier still must take its risk of losses. If it be said in a general sense that the pro visions as to rates constitute a guaranty of proper and adequate rates, this is no more than the promise of the reasonable exercise of the power of regulation. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.