Household words, No. 21, August 17, 1850 : $b A weekly journal
General
Household words, No. 21, August 17, 1850 : $b A weekly journal
English literature -- Periodicals
From this unimpeachable record of scarcely credible statistics, it
appears that at the end of 1849 there were, in Great Britain and
Ireland, five thousand five hundred and ninety-six miles of railway in
active operation; upwards of four thousand five hundred and fifty-six of
which are in England, eight hundred and forty-six in Scotland, and four
hundred and ninety-four in Ireland. Besides this, the number of miles
which have been authorised by Parliament, and still remain to be
finished is six thousand and thirty; so that, if all the lines were
completed, the three kingdoms would be intersected by a net-work of
railroad measuring twelve thousand miles: but of this there is only a
remote probability, the number of miles in course of active construction
being no more than one thousand five hundred, so that by the end of the
present year it is calculated that the length of finished and operative
railway may be about seven thousand four hundred miles, or as many as
lie between Great Britain and the Cape of Good Hope, with a thousand
miles to spare. The number of persons employed on the 30th of June,
1849, in the operative railways was fifty-four thousand; on the unopened
lines, one hundred and four thousand.
When the schemer of the infancy of the giant railway system turns to the
passenger-account for the year 1849, he declares he is fairly “knocked
over.” He finds that the railway passengers are put down at _sixty-three
million eight hundred thousand_; nearly three times the number returned
for 1843, and _a hundred times_ as many as took to the road in the days
of stage-coaches. The passengers of 1849 actually double the sum of the
entire population of the three kingdoms.
The statement of capital which the six thousand miles now being hourly
travelled over represents, will require the reader to draw a long
breath;—it is one hundred and ninety-seven and a half millions of pounds
sterling. Add to this the cash being disbursed for the lines in
progress, the total rises to two hundred and twenty millions! The
average cost of each mile of railway, including engines, carriages,
stations, &c., (technically called “plant,”) is thirty-three thousand
pounds.
Has this outlay proved remunerative? The Commissioners tell us, that the
gross receipts from all the railways in 1849 amounted to eleven
millions, eight hundred and six thousand pounds; from which, if the
working expenses be deducted at the rate of forty-three per cent. (being
about an average taken from the published statements of a number of the
principal companies), there remains a net available profit of about six
millions seven hundred and twenty-nine thousand four hundred and twenty
pounds to remunerate the holders of property to the amount of one
hundred and ninety-seven millions and a half; or at the rate, within a
fraction, of three and a half per cent. Here our parent of railway
prospectuses chuckles. _He_ promised twenty per cent. per annum.
Public-domain text, read in full here on John Shaqi.
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