have been purchased by it, or have received State guarantees. The
English railway companies obtained simply authority from Parliament
to purchase compulsorily the land required, and to construct
the necessary works.[47] On the other hand, the railways in the
countries to which his report relates were, to a great extent,
either originally constructed by the State, or the companies have
been assisted by contributions towards the cost of construction, or
a minimum rate of interest upon the capital provided and expended by
them has been guaranteed to them, or the lines have been afterwards
acquired by the State.
[47] There are some cases in Ireland in which Baronial Guarantees in
respect of portions of the capital of railways have been given.
It is remarkable that Sir Bernhard Samuelson’s report gives no
information as to the railways of France, though the nearest of the
Continental countries, and though many of her products compete with
ours. To correct this deficiency, it may be desirable to mention a
few facts. The French Government constructed the first railways
opened in that country or made advances for that purpose without
charging interest; and they have since made or purchased other
lines. In aid of the original lines for which concessions for 99
years were granted, the State in France contributed a vast amount,
as appears by the following statement:--
Amount contributed by the State as shewn at December
31st, 1882 £66,639,549
Divers contributions also given by towns to
the extent of 1,753,992
The Companies have themselves provided 340,421,032
------------
£408,814,573
Upon the State railways (that is, for lines now
worked by the Government) they have
expended to December, 1882 33,851,598
In addition to which divers subscriptions were
given by towns to the extent of 1,305,334
------------
£443,971,505
Out of which the State (as shown above) provided £100,491,147
============
The total amount was thus found in the following proportions:--
A.--By the State on lines
worked by the Companies 15 per cent.
On lines worked by the State 7·6 per cent.
----
22·6
Contributions made by towns, &c. 0·7 per cent.
B.--Capital provided by the Companies 76·7 per cent.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account