irresistible, that railways like other inventions have contributed to the material prosperity of all classes equally, and have not enriched the capitalists alone. Notwithstanding George Hudson, who has become merely a memory, or Charles Guernsey, the stockbroker's clerk who was his lowly imitator, the railway plutocracy would seem to be a phrase more full of sound than of practical meaning. If to this remark the name of Vanderbilt be objected, the true facts of the case rather confirm than disprove the present remark. 'Commodore' Vanderbilt was a rich man before he ever owned a railway share. He sold a fleet of steamers to purchase control of the New York Central Railway. Had he invested the capital realized by this preliminary transaction in any of the industries of his nation, such as the tinning of beef from a cattle ranche in California, or the curing of bacon at Chicago, he might have made the same or an even larger fortune. Railway diplomacy was only the accidental employment of Mr Vanderbilt's extraordinary genius for creative finance. The same talents exercised upon any other material, or expended in any other career could scarcely fail to have commanded same results. In another department of the industry afforded to intellect by the steam locomotive, Charles Austin made two fortunes out of railway Bills. His abilities as an advocate were probably unequalled among the generation to which he belonged. Since Austin's day lawyers of the same, or something like the same capacity have amassed wealth not inferior to Austin's out of electric patents practice, or in other branches of law which have been specially in request at the moment. While the railway fever of the forties was at its height, a little man with an intellectual head covered by a proverbially shabby hat might often of an afternoon have been seen walking down Parliament Street. He never failed to bestow a copper upon the crossing sweeper at the point where the Home Office stands to-day. Formerly the contractor usually lavished on the man a four-penny bit. But times were bad. The vail was reduced to a quarter of that amount. The donor humorously anticipated the day when he might be glad of a reversionary interest to the broom and shovel employed outside the Horse Guards. That calamity, which of course never seriously threatened, was averted. The little gentleman with the ostentatiously neglected head-gear, Thomas Brassey, was a millionaire long before he built his last railway. But his contemporary, Thomas Cubitt, made the same fortune out of building Belgravia. Railways have also often enriched the landowners through whose estates the lines have run. So high an authority as Mr Samuel Laing holds that the owners of the soil have been over compensated by the companies generally for the acquisition of their land. To this, however, the country gentlemen would reply that in countless instances they have received no more than the agricultural value for their