Button, "SOS Support FedeRail," circa 1973

American railroads were suffering in the early 1970s. Competition from trucks on expanding Interstate highways triggered a series of bankruptcies. Public ownership, under the name "FedeRail," was one proposed solution. Instead, Congress created Conrail in 1976. With considerable government financial assistance, the quasi-federal Conrail company abandoned excess track, improved service, and became fully privatized in 1986.