The Railroad Problem

A historical account written in the early 20th century. The book addresses the challenges and crises faced by the American railroad industry during a pivotal time, examining its financial difficulties, labor issues, and the broader implications for American society. At the start of the book, the author presents the railroad as the ''sick man'' of American business, struggling with a multitude of ailments despite its previous significance and potential for growth. Hungerford metaphorically describes this system as a large family with various members facing their own hardships, particularly focusing on the need for effective remedies to improve the situation. He emphasizes how recent economic conditions stemming from the European war have temporarily masked the depth of the railroad's troubles, setting the stage for a detailed exploration of its financial plight and labor relations in the ensuing chapters.