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This study reports interest rates on New York Bankers' balances and argues that their stability in periods of generally falling interest rates was a sign of a highly competitive financial system.
A content analysis of two major rail journal leads the author to conclude that too many historians have overestimated the radicalism of state regulation and have also operated on the questionable assumption that rail managers wanted the elimination of patchwork state controls in favor of uniform national regulation. Further, he maintains that the Transportation Act of 1920 was more a reversal than a continuation or logical culmination of Progressive regulation.