The oldies of this imposing city. There are more than 50.000 licensed taxi drivers. they carry up to 600,000. The number of taxi drivers is higher than cabs as a result of the way the public pays to take a taxi.
It is necessary to have a taxi medallion to get the taxi. The taxi medallion functions as a second license that authorizes individuals to pick up anybody who is hailing for a ride anywhere in the city.
The system of medallions was introduced during the Great Depression when a huge number of people took to taking taxis to work due to the shortage of workers across other industries. Due to the high level of competition and competition, rates were very low. Additionally, the standard of drivers as well as cars was wildly different, which resulted in unsafe driving conditions.
In order to reduce the shortage of taxi drivers and improve the quality of drivers and cars the medallions were developed. However, the medallions were sold long ago which means you could only purchase one through a third party. The best option is to pursue the exclusive rights to transport New Yorkers on its streets. The medallions are also highly useful.