1840 · Boston
Degrand, one of the earliest promoters of a transcontinental railroad, argues that a low freight rate "creates great quantities of Goods to be carried, and thereby becomes the most profitable; that great masses of Passengers are created by the Low Fare; and that a Rise of Fare has invariably diminished the Net Income, and a reduction of Fare has invariably increased it." Degrand, a pioneering supply-sider, proves his point with a formidable array of facts and figures.
FIRST EDITION. Thomson 2414. AI 40-1945 . (Inventory #: 19283)