[Footnote 30: On the occasion of races held at Newton, a place about 15 miles from Liverpool, two engines were sent, with trains of carriages, to take back to Liverpool the visitors to the races. Some accident prevented one of the engines from working on the occasion, and both trains were attached to the same engine: 800 persons were on this occasion drawn by the single engine to Liverpool in the space of about an hour.] (98.) In comparing the extent of capital, and the annual expenditure of the Liverpool and Manchester line, and adopting it as a modulus in estimating the expenses of similar undertakings projected elsewhere, there are several circumstances to which it is important to attend. I have already observed on the large waste of capital in the item of locomotive engines which ought to be regarded as little more than experimental machines, leading to a rapid succession of improvements. Most of these engines are still in good working order, but have been abandoned for the reasons already assigned. Other companies will, of course, profit by the experience which has been thus purchased at a high price by the Liverpool Company. This advantage in favour of future companies will go on increasing until such companies have their works completed. A large portion of the current expense of a line of railway is independent of its length; and is little less for the line connecting Liverpool and Manchester, than it would be for a line connecting Birmingham with Liverpool or London. The establishments of resident engineers, coach and wagon yards, &c. at the extremities of the line, would be little increased by a very great increase in the length of the railway; and the same observation will apply to other heads of expenditure. It has been the practice of the canal companies between Liverpool and Manchester to warehouse the goods transported between these towns, without any additional charge beyond the price of transport. The Railway Company, in competing with the canals, were, of course, obliged to offer like advantages: this compelled them to invest a considerable amount of capital in the building of extensive warehouses, and to incur the annual expense of porterage, salaries, &c. connected with the maintenance of such storage. In a longer line of railway such expenses (if necessary at all) would not be proportionally increased.