Social Transformations of the Victorian Age: A Survey of Court and Country — John Shaqi
Social Transformations of the Victorian Age: A Survey of Court and CountryEscott, T. H. S. (Thomas Hay Sweet)
History
Social Transformations of the Victorian Age: A Survey of Court and Country
Escott, T. H. S. (Thomas Hay Sweet)
Great Britain -- Civilization -- 19th century; Great Britain -- Social life and customs -- 19th century
A reaction, as has been seen, followed the morbid enterprise of 1846. Its
results, however, have endured to the present hour. In 1845 the United
Kingdom possessed only two thousand four hundred miles of iron way. The
capital invested upon these was only eighty-eight millions. Before 1850,
the capital had increased to two hundred and thirty millions. To-day the
aggregate miles of the railways of the United Kingdom are little, if at
all short, of twenty thousand. The expenditure has been six hundred and
thirty millions. The gross annual income is sixty millions. In order to
appreciate with approximate accuracy the part played by the steam
locomotive in the creation of nineteenth century wealth in England, or to
define with practical distinctness that familiar term 'the railway
interest;' it is necessary to examine this matter more in detail. In 1855
the total of capital represented by the United Kingdom railways was
£297,584,709. In 1894, the latest date to which the Board of Trade returns
are published, the total was £985,387,855. After forty years, therefore,
the railway investments of these Islands had increased by £687,803,146.
Another chief source of national wealth and industrial employment during
this reign has been provided by mining enterprise. In respect of the money
value of each, what are the relations which the yield of subterranean
labour has borne to the enterprises of steam upon the surface of the
earth? In 1855 the value of all the minerals brought to the light of day
is expressed by the figures £29,579,001. The figures referring to railways
for the same year were, it will be remembered, seen to be £21,507,599.
This comparison between the two shows therefore that in 1855 the mines
exceeded the railways in value in round numbers, by eight million pounds.
The exact figures of the excess were £8,071,402. Forty years later this
balance is more than redressed. In 1894 the total of mineral wealth was
£80,900,453. The entire railway receipts were £84,310,831. In other words,
the surface opulence of the United Kingdom had not only made good its
inferiority to the subterranean wealth, but had advanced beyond that
rival, in round numbers, by three and a half million pounds. The exact
figures were £3,410,378.
Public-domain text, read in full here on John Shaqi.
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