This historic book may have numerous typos and missing text.
Purchasers can download a free scanned copy of the original book
(without typos) from the publisher. Not indexed. Not
illustrated.1870 Excerpt: ... in value, because traffic was
evidently greatly increasing, while it was not anticipated that the
working expenses would similarly increase. Mr. Cardwell, in the
debate on the Bill, said: --"It was well known that traffic very
greatly increased with lapse of time, while the expenses of working
the line did not increase. There would be, therefore, if the
original tariff were maintained, an increasing and very soon a
disproportionate profit; and here the public claimed, and rightly
claimed, to share. Mr. Cardwell took a businesslike view of the
prospects of railway property. He never dreamt, nor did any one
else then dream, of the rise of that misbegotten offspring of
competition and engineering, Mr. Houghton's "insatiable monster,"
which now sucks away the life-blood of railways. People anticipated
that in a few years profits would rise above 10 per cent., and
railway property become so valuable that Government could never
afford to buy them out. The Bill was introduced by the present
Prime Minister, who was then President of the Board of Trade, in a
speech of great power, which occupied two hours in delivery, and
was answered by Mr. Bright in a speech likewise marked by great
vigour. The Bill was carried, but in respect of this plan for
purchase, it always has been, and always will be, practically a
dead letter--not thereby, as we understand, falling short of the
anticipation of Mr. Gladstone, who in introducing the Bill said,
"We are content in the main with making a mere provision for the
limitation in future; the whole effect of which provision is that,
instead of Parliament having its hands tied and fettered as they
are now, they shall be free to deal with these matters for the
public good." The Bill began by reciting that it was expedient that
General Books LLC
|Country of origin:
||246 x 189 x 2mm (L x W x T)
||Paperback - Trade
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