PUBLIC OWNERSHIP VERSUS PUBLIC CONTROL 807
ment, furnished by the element of individual rewards and penal- ties. In other words, there is a middle ground of public control, to which attention may well be drawn, since here, indeed, is a really fruitful field.
The transportation system of Boston was selected for com- parison with Glasgow intentionally, because it affords the best illustration in evidence anywhere of this attempt to solve the municipal-service problem along the lines of public control. The public control here exercised is both specific and general : that is, the Boston Elevated Co. operates under certain restraints and requirements imposed equally upon all street-railway corpora- tions in the commonwealth, and in addition is subject to a com- prehensive set of special regulations framed in recognition of the peculiar conditions of metropolitan transportation.
In addition to the various taxes already specified, whereby the public receives its contribution to the " Common Good," it is provided that, if any dividends are declared in excess of 6 per cent., an amount equal to the excess shall be divided among the cities and towns in which the company operates. In point of fact, whatever has been earned in excess of 6 per cent, thus far has been turned back into improvement and extension of the system, and this may be expected to continue for a number of years ; the plans for development of the Boston transportation facilities are of a most comprehensive character, and the work is steadily in progress. The division of profits above 6 per cent. (8 per cent, in the case of all other street-railway companies) is probably the least important of the Massachusetts public-control features; it may possibly, however, act as some measure of protection of the Boston system and its present exceptionally public-spirited man- agement, against becoming the prey of speculative interests ambitious to exploit the property solely for the quick profits to be got out of it.
The general body of Massachusetts street-railway legislation is very largely the outgrowth of an official investigation in 1897, by a special committee, whose report is perhaps the most valuable and suggestive that has appeared on the subject. This legislation is of an advanced character, providing very careful protection of
