Passengers 46,750,000 Goods 74,800,000 Miscellaneous, as now 10,000,000 ------------ Total £131,550,000 Deduct for working expenses, as above 85,000,000 ------------ Net revenue £46,550,000 This shows a deficiency to be made good of 21,625,000 ------------ In order to make up the annual sum of £68,175,000 ============ This annual amount could be provided by the following further increase in passenger and goods traffic respectively, viz.:-- 100,000,000 passengers at 1/- £5,000,000 10,000,000 ” ” 4/- 2,000,000 30,000,000 tons ” 10/- 15,000,000 ---------- Total £22,000,000 ========== In these estimates no account has been taken of the increased revenue of the Post Office, nor the increase in Local passengers and slow goods traffic respectively, which is sure to be realised, and the receipts for which would probably cover any increase in working expenditure. It will be noticed that if the above increase should be obtained the total estimated increase of passengers over the present totals would be as follows:-- Passengers 350,000,000 or about 21% Goods 78,000,000 or about 15% It is, of course, not essential to the success of the scheme that the whole of the increase here estimated should be obtained in the first year after nationalisation has been carried out, although it is considered that even in that short period, according to all precedents, so small a percentage of profits may fairly be anticipated. It would probably be necessary for the Government to raise a temporary loan for initiating the scheme, but in any case it appears essential that the purchase of the whole of the existing undertakings of the United Kingdom should be completed as =at one and the same date=. Other advocates of railway nationalisation suggest that the purchase should be carried out gradually, and this course has been followed by other nations. It is, however, of the very essence of the scheme here proposed that every part of the country shall have the benefit of the uniform fares and rates, and this would be impracticable unless the whole system be taken over by the Government at one time.