Another way in which imperfect construction is inevitable is where companies admit their inability to be their own financiers by giving some influential contractor his price, and allowing him to "do his own engineering," in consideration of his taking such securities as they have to offer, and which he undertakes to float by means of his superior connections. Having the thing his own way, and being naturally anxious to build his road for as little money as possible, he pares down everything even below the standard of embarrassed railway-boards. If the road will only hold together until he has sold his bonds, it is all he asks. If the business is good, the road will perhaps be finished, or what is thought to be finished, some day or other. If business is dull, nothing is done, and the bridges and trestle-works remain such murder-traps as that on the Albany Northern Road which broke down last year. But it is not with such miserable apologies for railways that we have to deal. It is on our really valuable roads, like the main lines in Massachusetts and New York, that we shall show that the evils of imperfect construction are felt, and will be felt, until a thorough reconstruction has taken place. It was observed some time ago that the returns of the Massachusetts railways for 1856 showed that there were 1,325 miles open, costing on an average $46,480 per mile, or $61,611,721 in all. The receipts per mile of road were $7,217, the expenses $4,260, leaving a net earning of $2,957, or 40 per cent. of the whole. This was equal to 6.42 per cent. on the whole cost of the railways. For the same year the returns of all the railways in Great Britain showed that there were 8,502 miles open, costing $173,040 per mile, or $1,506,826,363 in all; and that the receipts per mile of road were $13,296, the expenses $6,249, leaving a net earning of $7,047, or 53 per cent of the whole. This was equal to a dividend of 3.97 per cent. on the whole cost. These figures showed, that, however extravagantly the British railways had been built, they certainly were worked more economically than our own. At first view it might be thought that the economy was due to their greater business; but further inquiry showed, that, from the better shape of American cars, and from the wants of the public requiring fewer trains, the actual receipts per mile run of Massachusetts trains were $1.83 against $1.44 of British trains. The expenses per mile run of Massachusetts trains were $1.08, while those of British trains were only 63 3/8 cents. Could Massachusetts railways be worked as cheaply, the result would be that they could declare nine per cent. dividends on their cost, instead of six.