The Sun. — London, England, 1846-08-31 00:00:00

• \'"., THE SUN, LONDON, MONDAY EVENING, AUGUST 31, 1846. ---e.„-- ixaes in operation extend to 1,000 kilometres (about 620 Saes), and the whole number of kilometres to which the Zedlwalys will extend in six years is estimated at nearly (6,000 (about 3,760 miles). All the-'lines of France, with one or two exceptions, before t he introduction of this system, are conceded for terms cat: years varying from 99 to 25. In Geirmany, divided as it is into a number of inde pender tt states, the adoption of a systematic plan of rail ways was attended with greater difficulty. The nature of t 1 Al country, however, especially of Prussia, for the mos t part level, suggested the construction of them at an ea' Ay period. The choice of lines was at first the work 'Of. chance, but the different Governments soon became Neonvinced of the necessity of regulating by treaties the direction of their lines, and proceeding according to It systematic plan. In Austria, Prussia, and the other German Ste.tes, the construction of lines has generally b'sen conceded to pri vate companies. In Austria the concession is for fifty years, and in Prussia until the, capitals of the companies have been extinguished by ',inking funds, with a right of purchase, and revision e tolls and fares. The minor German States genera•V‘y concede the lines on lease. 1n this country 'alone were companies allowed the possession of lines in perpetuity, subject to no available sex idi time. That:r.erance should have concluded arrangements for corestruction of her railways on so much better terms t han lave been obtained in England, cannot fail to strike Iffitl - • astonishment those who reflect on the superiority of fthis country in wealth, industry, density of populs taooL, and number of great towns, and on the readiness a vb ich has always been evinced to embark capital in un takings promising a fair return, while France has no sseperiority over England in the means of construction. .But not only were our advantages not turned to duo account by the Government in the outset, for which some excuse was perhaps to be found in our inexpe rience ; the opportunity for imposing suitable conditions On railway companies was not seized when that excuse erao longer existed. Year after year companies obtained Acts for the con struction of lines through the most important districts 'of the country, characterised by the same disregard for the interest of the public. Companies still obtained lines in perpituity ; the maximums for fares were still fixed at far too high a rate ; and the conditions imposed were of so vague a character, and so utterly inapplicable to the subjects which they professed to regulate, that they could hardly ever be enforced or made available to the protection of the public. The first material attempt on the part of the Legisla ture to place the public in a more advantageous position with regard to railways was not a very successful one. The 7 and 8 Vic., c. 85, provides that after a lapse of twenty-one years, when the dividends shall equal or ex ceed 10 per cent., the Lords of the Treasury, on giving threes months notice, may revise the scale of tolls, fares, sane, charges. The hope of revision held out by this aeuse, was, however, quite illusory, for no precautions Lad been taken to settle the principle on which dividends should be calculated. The capitals on which dividends were declared exceeded in many cases by large sums the actual outlay ; and there existed no effi.dent system of accountability by which Parliament could obtain any thing like an accurate knowledge of the net profits of railway companies. By the Companies Clauses Conso. Relation Act of 8 Victoria, certain rules were laid down with respect to the augmentation of capital by the crea tion of new shares, but your Committee are given to understand that this Act does not prevent companies from allocating shares among the proprietors at par when actually at a premium, in order that they may pocket the premiums. It is established by the most satisfactory evidence, that in the case of many companies large additions have been made to the nominal capitals, beyond what has been required by the actual outlay, through the creation of shares, not at the current market price, but at par. To take one of the most common operations of the sue 'cessful companies, if for instance, shares being at cent. per cent. premium, a million were required for an un dertaking, and to raise that million shares for a million were created in order to enable the proprietors to divide among themselves another million in the shape of pre miums, it is clear that the nominal capital exceeds by 500,0001. that of which the actual outlay required the creation, and. consequently, that a dividend is made on a sum exceeding by so much that outlay. In this way the object of Parliament, in subjecting companies to a revision of fares when the dividends should equal or ex ceed tan per cent., could always be defeated. M r . Hud'aon, a Member f your Committee, specified several in . e.ances, in companies w ith w hi c h h e was connecte d , wnere large additions were made to the nominal capitals by these and other means. For instance, he states, that by an arrangement between the Great Northern and the Great North of England Railway, it was stipulated that the latter should receive 10 per cent. on every 50/. shiere till 1851, when they had a claim to be paid off in fieur per cent. stock at 2501. a share ; thus creating a mew nominal capital of 250/. for every 501. He states also that, to meet a purchase by the Newcastle and Darlington Company, new 25/. shares were issued to the proprietors at par, when they were at a premium of 201. It is obvious that the money required could have been obtained by a much smaller issue of shares, bad the 20/. premiums, as well as the 251. shares, been applied to the purposes of the company, and not divided as a bonus among the proprietors. This practice of swelling the nominal amount of stocks beyond the actual outlay on the lines, which has extensively prevailed, was recently noticed in reports presented by Mr. Ellice from the Select Committee on Group (58) of Railway Bills, in which it is stated that tin the Hull and Selby Purchase Bill the actual outlay and estimates for further works is 955,3631., while the money to be raised by the Bill is two millions, extending the outlay and engagements of the Hull and Selby proprie tors by the large sum of nearly a million, and that in the Great North of England Purchase Bill, the actual outlay and estimate for additional works is 1,496,7961. 18a. 4d., the proposed capital 4,000,000/., exceeding the actual outlay and engagements of the Great North of England proprietors by the sum of 2,503,0031. ls. Bd. The Committee in question add the observation that, in their opinion, " It would be greatly for the public inte rest that some fixed and uniform rule should be clearly I.id down by the House for the guidance of their Com mittees with respect to the whole system of raising ca pital, loans, the conversion of loans into capital, the pay ment of rents and profits on separate lines and branches, not from the actual traffic on such separate branches and lines, but from the surplus receipts of old com panies, in all cases where new powers for raising money are applied for, of extension, purchase, or amalgamation Bills." These illustrations of a system extensively pre valent, which are taken from numerous instances brought before the notice of your Committee, are sufficient to prove that so long as it is suffered to continue, the in tentions of Parliament in passing the 7th and Bth Vict. must be defeated. This practice of issuing new shares to the present shareholders at par has not been allowed in any other country. Mr. William Reed, a director of the Paris and Rouen Railway, states, that when the exigencies of the company rendered it necessary for them to raise money, they applied to the Government to be allowed to issue to the then shareholders new shares at par, in the propor tion of one new share for every five shares they held. This application was rejected by the Ministry, and they borrowed the money required, for which no authorisa tion was necessary. The French Government contended that the rights of the future proprietor would be com promised by the issue of shares at par when at a pre mium, but it has been maintained by some of the railroad - proprietors in this country, that it is immaterial whether the money required by companies be raised by the crea tion of new stock or by loans ; and whether the share holders received increased dividends on smaller capitals, or smaller dividends on larger capitals. But if the rate of dividend is to determine whether the scale of fares shall be subjected to revision by the Government on behalf of the public, it is of the very first consequence that the capitals should correspond with the original outlay. It may be the same thit,g to proprietors whether they pocket large bonuses, and increase their capitals by sums exceeding the money laid out on the roads by the amount of such bonuses, and receive proportionately smaller dividends ; but it is a very different thing to the public, if the scales of fares are to be governed by the rate of dividend, whether they pay high fares or low fares. But by another section of this Act, the second, the Lords of the Treasury are empowered, after the expira tion of twenty- five years, to purchase the railways, whatever the rate of divisible profits may be, upon giving three calendar months' notice in writing of their inten tion, on payment of a sum equal to twenty•five years' purchase of their profits, estimated on the average of the three preceding years. This power to purchase on such extravagant terms, and under such limitations, held out small hopes of relief ; so that, upon the whole, the position of the pub lic with regard to railways was not thereby materially improved. Whilst your Committee thus express their regret that the public interests were so little consulted in the ar rangementsirith railways for so long a period, they have seen with satisfaction the commencement of a better system. In consequence of sessional orders of the House, both in this and the previous session, clauses have been introduced into all Acts relative to railways, either for the construction of new lines or the extension of old lines by branches, reserving the power, whenever it should be deemed necessary, to re v i se and regulate the scales of fares and charges ; and as nearly all the great com panies have either obtained or applied for Acts for the construction of branch lines, and the extension of old lines, they have thereby enabled Parliament to place them under such control or supervision as it may be deemed expedieut to adopt ; and thus the hope may at length be entertained, that means for securing the public against oppressive and extravagant charges will yet be adopted. Your Committee wish here to dwell a little on the im mense importance to the community of a judicious sys tem of railways, both with reference to the selection of lines, and the rates at which the fares and charges are fixed. It is hardly possible, indeed, to exaggerate the importance of a railway, not only to the great cities whilh are connected by it, bat to the districts through which it runs. It has been generally assumed that rail ways are better suited for the seats of commerce and manufacturing industry than for agricultural districts; but a highly respectable and intelligent witness, Mr. Samuel Morton Peto, who has had considerable experi ence in the construction of railways in manufacturing districts, and is deeply interested in the Norfolk lines as a proprietor, states, as the result of his experience, that, "the people in manufacturing districts do not travel any thing like so much as an agricultural population;" and that " he would rather, if he could get a moderately priced line, have it in an agricultural district than in a manufacturing district, as far as the population of the district is concerned." Mr. Peto adds, that the experi ence of Belgium furnishes a striking corroboration of the soundness of these views, as it ha; been proved by the report of M. Desart, in whose hands the Belg ian Goverment placed the whole of its railway statiaucs, that in a given population the traffic of the small I towns and villages along a line is proportion ately greater than the Israffle. between two large cities at the termini. New branches of industry are everywhere called into ekisterice by the facility and cheapness of communication e.fforried by railways ; and land previously of little or no value is at once made productive by cheap acceas to materials by which the soil may he improved, aed to markets for disposing of its produce. On the subject of this revolution in the value of head, some important evidence is given by Mr. Miller, end by Mr. Smith, of Deanston. Mr. Miller states that Mesnufactories of sulphuric acid, extensively wet!, for agricultural purposes, have been established in euitabte situations by the sides of railways in several districts of Scotland, and that manures are conveyed on them at charges lower than the mere tolls on turnpike roads. Mr. Smith states that upon those lines which have been in existence for some years, over which he has had occasion to travel, a very great agricultural im provement has taken place, chiefly in consequence of the ' cheapness and facility of transport ; and by way of illus trating the amount of the benefit, he takes a farm of 200 acres, on a six-course shift, with 15 miles of transport, and shows that by the old mode the charges of carriage would amount to 1421. 6s. 3d , while by railway it would be only 401. Bs. 9d. Mr. Smith states also that land along the Glasgow and Edinburgh Railway, previouale not worth ss. an acre, is now worth between 30s. and 40s. By way of illustrating the benefit of railroads, when the charges are sufficiently IoW, this intelligent witness further states, that " a low rate would very greatly tend to the increased consumption of manures, and to the transport of earth for agricultural purposes ; that this would give increased produce to the land, which would enable the agriculturist to furnish his commodity at a lower rate ; that this cheapness again would increase the consumption in large towns ; and in manufacturing populations it would also create a greater traffic upon the railways, and enable them still further to reduce their rates ; and as the heavier articles are more con sumed by the working classes, it would add very much to their comfort ; and there are great tracts of country which would be cultivated to much advantage, it favoured by railway communication, which are now al lowed to lie comparatively barren." With regard to these views of Mr. Smith, as to the important change which railways might effect in agricul ture, by the transportation of manure and earths, your Committee conceive that as the fertility of soils depends on the proportion which certain earths bear to each other in their composition, it is merely a question whether, by any mode of transport, the proportions of earths can be so varied as to create fertility at an expense which would be remunerative. It has been demonstrated by an in telligent gentleman, who has devoted much attention to this subject, that the cost of conveyance diminishes with every increase of quantity. Taking fixed sums for the interest on the capital and working the railway, the charge (which with a traffic of 20,000 tons would only be remunerative at 100. a mile), with a traffic of 1,000,000 tons, would be remunerative at about a halfpenny a mile. It is impossible, therefore, to over-estimate the import ance of this new instrument placed at the command of the agriculturist. Cheapness of fares may thus create a traffic which otherwise could not possibly exist. It is, therefore, of the utmost importance to determine whether fares should be fixed according to a scale, which while it remunerates the railway, would allow of the existence of a valuable traffic, or according to a scale which would prevent it. These considerations ought not to be lost sight of in determining how railways may be made most conducive to the public benefit. The object to be effected by rail ways ought to be, the affording, at the least expense, the utmost facility of communication between different locali ties, and the utmost development of the national re sources. This object, which hitherto has been little attended to in this country, where the interests of the public have too often been sacrificed to the supposed inte rests of railway companies, was much better understood by the Belgian Government. Having, determined to carry lines through the kingdom, on a principle which should im part to every locality the benefit or this improved means of communication, they saw that the railways them selves would aid them in giving effect to their intentions. The excess of receipts beyond the expenditure on some lines, instead of being transferred, as in this country, to the pockets of individuals, was applied towards the con struction of other lines through districts less advan , tageously circumstanced. The Belgian Government traced a general plan of railways, embracing as a net work the whole country. The State lines were com menced on the sth of May, 1835, and completed in Oc tober, 1843. The fares for passengers, extremely low from the first, have been occasionally reduced when in crease of traffic enabled the Government to make the reduction. In Prussia, a comprehensive system of lines, em bracing the whole kingdom as with a network, and ex tending to upwards of 3,200 English miles, was traced several years ago. Of these lines nearly 700 miles are completed; about the same number of miles are in the course of construction; upwards of 800 miles finally adopted, and upwards of 900 remain merely as pro jects. Though the undertakings were committed to private companies, the necessity of Government inter ference was soon felt. The fundamental law of the Prussian Government respecting railways is dated the 3d of November, 1838. Three years are allowed to companies to fix definitely, from experience, what rates ought to be charged; but the tariff, at the commence ment, and in case of an increase of fares, six weeks be fore the alteration, must be communicated to the Go vernment. At the end of three years the companies are to receive a concession of the fares and charges in the tariff agreed on between them and the Ministry. In fixing the tariffs, the rates are in no case to exceed what corresponds with the receipts, after deducting the expense of maintaining and working the lines, &c., and a dividend in no case higher than ten per cent. or lower than six per cent. The fares to be subject to re vision after periods of not less than three years, and not exceeding ten years ; but the companies, though they cannot increase, may dimish the prescribed rates ; and exact accounts of everything relating to the concerns must be submitted yearly to the Ministry. A sinking fund, corresponding with the capitals to be fixed after the second Prussian railway has been opened three years, and the necessary experience has been obtained, to be applied in extinction of the capitals ; and the tolls, on the completion of the extinction, not to exceed the ex pense of maintaining and working the lines. The post and its servants to be conveyed free. Lines may be purchased after thirty years, at twenty-five years of the net profits, on an average of the five preceding years. In this country no comprehensive system has ever been traced. The lines promising the most ample re turns were, as a matter of course, first selected by com panies ; but the best mode of communicating the benefit of railways to the kingdom, considered as a whole, was only incidentally considered by Committees in deciding between rival projects. The Committee of the Board of Trade, in some of its reports, first attempted to lay down principles more worthy of the Legislature of a great country, by which it should be governed in regard to its railways. Your Committee conceive that the advantages of sys tem in determing on railways are sufficiently obvious. The best system is that which, at the least expense, and with the least sacrifice of soil, affords the greatest facili ties to intercourse, and the greatest encouragement to industry. By selecting an injudicious line, the capital of the country may be unnecessarily wasted, and the population of a district may not derive all the benefits from it to which they arc entitled. By constructing two lines where one would suffice, there is not only an unne cessary outlay of capital, but a waste of a portion of our territory. Besides, as the cost of conveyance diminishes with every increase of traffic, competing lines, by dividing the traffic, add to the cost of conveyance on the separate lines. In private concerns, no sensible man employs more mechanical power than he conceives necessary for his purpose ; b u t it i s now a l most univer sally admitted that not a few of our lines have been inju diciously traced, both with reference to expenditure of capital and local accommodation ; and that, in the fruit less hope of competition, rival lines have been sanctioned where they were not wanted. But the sanction by Parlia ment of injudicious and unnecessary lines is not the only evil. The mere entertainment of wild schemes, which may never go further than Committees of the House of Commons, keeps owners of property in a constant state of alarm, and often subjects them to much trouble and expense in watching and resisting them. It is stated by several of the witnesses as matter of notoriety that more than half the schemes lately brought forward, and which occupied the time of Parliament, were utterly uncalled for. Mr. Robert Stephenson, by way of illustrating the inconvenience of the present system, stated in his evidence that he could " quote a case at Wisbeach, where within half a mile of that town, there were actually fourteen different schemes, intersecting the land in every possible direction, hedges cut down, and crops interfered with. Now, all the legal expenses, and the expenses of engineers and surveyors, have been thrown away, be cause only one Act had been obtained. When they come before Parliament it is impossible to convey to the members of this Committee a correct notion of the diffi culties which the Committee must have to wade through in coming to anything like a true decision." It is stated by Mr. Peto that many lines have been very injudiciously laid out; and he gives, among oth e r instances, the Trent Valley line, promoted and purchased by the London and Birmingham, in order to get the lines most direct course to Manchester; and theo f the South -Eastern Company, who are obliged to incur great expense in constructing the Mid-Kent line, to remedy the defects of that first adopted. Economy in the outlay of capital, and in the applica tion of the surface of the country to its railways, ought always to be aimed at. In the opinion of nearly all the witnesses practically acquainted with railway affairs examined by your Committee the public can never bene fit by the competition of companies. Mr. Robert Ste phenson, when asked whether the lowering the fares might not be influenced by competing lines and compet ing canals, gave this decided answer:—" I hare had so many cases of that kind brought before me, that I have come to the conclusion, th a t w h erever com bi nat i on i s practicable competition is impracticable. Therefore I say, let the Government be as stringent as they like with existing companies, but never C4i cite competition ; be cause by exciting competition you increase the capital invested for giving the same convenience which would be otherwise obtained with less capital." Your Committee find in the second report of the Select Committee appointed this session to consider the princi ple of amalgamation, as applied to the Railway and Canal Bills under the consideration of Parliament, and in the report of a Select Committee of the House of Lords, also appointed this session, to take into consider ation the best means of enfor c i ng one un if orm system o f management on railroads in operation or to be con structed, abundant confirmation of their views as to the hopelessness of looking to competition for the means of securing the public interests. The more powerful com panies have, it appears, not only succee d e d to a great extent in obtaining the control of railway lines, from which competition might be apprehended, but also succeeded, by various mewls in obtaining a control over the canals, which, for a time, maintained a corn , petition with them in the carriage of heavy goods, and have thus deprived the public of all the protection at one time anticipated from this source. It would appear from evidence received by your Committee that railways may also be expected to encroach materially on the coasting trade of the country. Mr. Peto states, that a great deal of the produce of Suffolk and Norfolk, which ' hitherto has been carried by coasting vessels is now con veyed to town by railways; and that much more will, no doubt, be carried hereafter. Norfolk and Suffolk are great counties for malt, much of which, formerly carried by coasters, now reaches town by railway, cheaper and more rapidly than by water ; and Mr. Peto states, also, that as rates will be still further reduced with increase of traffic, they must take away more and more of the coasting trade, and that the only reason why more pro duce is not now carried, is the inability to procure at once the requisite number of engines. Your Committee, therefore, conceive that experience warrants them in viewing railways in the light of mono polies. As expectations of relief from competition can not possibly- be realised, they ought not to be longer entertained. But the very circumstance of railways being monopolies only renders it the more necessary to subj,ct them to proper regulation. The past cannot, of course, be remedied, but the future is more in our power, and an endeavour should be made to discover the best means of securing to the community all the advantages which, under a proper system, may be derived from railways. A monopoly, from its very nature, can only be exer cieca with safety to the community under effective con trol. One of the abuses of railway management from which the public have most suffered in this country is the fixing the fares and charges at too high rates. By extravagant charges, in some cases imposed with the highly objectionable view of limiting the benefit of railways to particular classes, in others with the view of driving certain descriptions of animals and produce from the lines, the railway companies were long open to severe animadversion. A feature in the English practice which very early attracted the no tice of foreigners, and is severely censured in continental publications on railways, was the absence for a long time of third and fourth-classes on nearly all our lines. And even after third-class carriages were supplied, they were for the most part so constructed as to affect health, and did not proceed with the usual trains, but were dragged at a paee which seemed chosen to disgust those who took places in them. In short, it appeared as if it had been determined to exclude the great body of the nation, un able of course to pay first and second-class fares, from the benefit communicated to the more wealthy orders. When the Belgian Minister proposed his last tariff, he introduced a modification of the third-class fares with the express intention of encouraging third-class pas sengers and inducing them to travel, by which he ex pected to swell the treasury receipts. The offensive conduct of English directors, betrayed, no doubt, an ig norance of their true interests, but that forms no valid excuse for them. Many intelligent persons who saw how much better the convenience of the public and the encouragement of industry was secured abroad than in this country, where at one time fares, according to Mr. Laing, ranged at 80 per cent. higher than on the conti nent, were in serious apprehension for our trade and com merce, from the disa•lvantages to which they were thus exposed. Your Committee perceive with satisfaction that this evil has of late considerably abated. Several of the railway companies, of their own accord, under the influence of public opinion and more correct views of their interests, have lowered their scales of fares and charges. It is admitted by most of the wit nesses c mnected with railways, examined by your Com mittee, that in keeping the scale extravagantly high, and in excluding the mass of the people from the benefit of railway conveyance, the companies took a mast errone ous view of their own interest ; and with hardly an ex ception it has been found that every reduction of fares has been attended with an increase of revenue. Mr. Creed states that the difference between the prices charged originally on the Birmingham Railway and the present price is exactly one-third. The reductions on the first class in the half-year ending 30th of June, 1844, were 17i- per cent., and they caused an increase of pas sengers of 191 per cent. ; on the second class the reduc tion in the fares was 264 per cent., and the increase in the number of passengers 61 1-5 per cent. ; on the third class the reductions in the fares was 33 1-3 per cent., and the increase of passengers 259 per cent. ; and the reduc tions have in most cases increased the revenue of the company. But were there to have been no immediate increase of the revenue, still a regard to the welfare and convenience of the community, which ought to be the object of all legislation, would have demanded the reduction. Your Committee wish to observe, in passing, that they regret to perceive in the evidence of this witness an at tempt to justify the limitation of carriages for third-class passengers to four out of sixteen trains, not on sound commercial principles, but by the statement, that if there were third-class passengers with each train, it would be considered objectionable to the other passengers, and he refers in confirmation to what had taken place on the North Midland line. Your Committee cannot understand how third-class passengers in separate carriages can interfere with the convenience of first-class passengers, where due provi sion is made for the preservation of order at stations. In Belgium, France, and Germany, carriages for all classes proceed with every train ; and it appears, from the evidence of Mr. M‘Gregor, the Chairman of the South-Eastern Company, that on their lines the conduct of the third-class passengers has been uniformily inoffen sive, and that first-class passengers have never objected to travel in the same train with them. The fares of the South-Eastern Company have experienced a greater re duction than those on the Birmingham line. The fares by the express train are 2 45-100 d. per mile ; and, day tickets, 1-84-100 d. per mile ; by the ordinary trains for the first-class, 2.05 d., and day ticket, 1 53-100 d. per mile; for the accond-claw, 1-36 d., and day ticket, I-02d. ; for the third-class, 82-100ths of a penny, and day ticket, 61 -100ths of a penny. On the Scotch lines the fares from the first have been generally lower than on any of the English lines. On the Edinburgh and Glasgow Railway, Mr. Miller states, that several trains a day are run, on which fourth-class passengers pay about id. a mile, and third-class passengers Id. ; and he thinks that still lower fares would be more profitable in many dis tricts. The fares for third.class passengers on the Glas gow and Greenock line are so low as id. a mile. According to Mr. Peto, the charges on the Norfolk lines are very low. "We have," he says, " paid great atten tion to the fares there. It was a subject of deliberation before we fixed them, and we decided that the lowest scale of fares, lower in fact than upon any other line, would be that which would bring us the largest amount of profit ; that it would bring the greatest number of people, and therefore would be most bene ficial to ourselves." The third-class passengers pay much less on the Norwich and Brandon line than Id. per mile ; from Norwich to Yarmouth, 22 miles, only ls. 6d. Notwithstanding the reductions on several of our lines the fares are almost always higher, and in some cases considerably so, than on the Belgian lines. On the State lines, the first-class fares, which from 1835 to 1838 were 1 . 13 d. per mile, were, on the 3d of February, 1839, raised to 1 37d. per mile ; on the 10th of April, 1841, lowered to 1.2.9 d. per mile ; on the 17th of August, 1841, still . . further lowered to 1.22 d. per mile, at which they remain by the existing tariff. The second class fares were suc cessively at the above periods, 0-80 d. 0.90 d., 0-80 d. 0 - 90 d., and 0 93d. ; the third class fares, 0.40 d., 0-64 d., 0 - 48 d., 0.554., and 0.581 It will be seen that by the existing tariff first-class passengers are carried for something more than id. a asile ; second-class passengers for con siderably less than ld. ; and third-class passengers for little more than a halfpenny a mile. The last tariff laid before the Chambers by the Belgian Minister made a reduction of 10 per cent. for third-class passengers, for all distances short of 25 kilometres (151 miles), in order, he said, to attract travellers for short distances, to favour the working population, and at the same time increase the Treasury receipts. It is more difficult to institute any satisfactory com parison between the charges for goods in Belgium and England, from the difference in the mode of rating. In Belgium a distinction is made with respect to coal and pig iron when destined for exportation, and when des tined for home consumption. In the former case the charge is l-127d. per ton per mile ; in the latter it is charged like other heavy goods, 1.61 d. per ton. The charges on twelve English railways for iron and coal have been avera g ed at somewhat less than 2id. a mil e , ranging from Id. to sd. On the Hull and Selby line the maximum for coals and coke carried 30 miles and upwards is ld. per ton per mile ; for 20 miles, and less than 30 miles, lid. per ton per mile ; for less than 20 miles 14d. In the Great North of England Purchase Bill the maximum for iron for 40 miles and upwards is lid. per ton per mile; for less than 40 miles 2d. per ton per mile; for coals, upwards of 40 miles, ld. per ton per mile; less than 40, but upwards of 30, lid. per ton per mile; for 20 miles, but less than 30, lid. per ton per mile; for 10 miles, and less than 20, 141 per ton per mile; for less than 10 miles, 2d. These maxi mum charges are, according to the distance, higher or lower than the Belgian charges. In Belgium the charge for a horse on all the lines is 6-44 d.; on the Hull and Selby line the maximum is 51 per mile; in the Great North of England Purchase Bill, sd. per mile. In Bel gium on all the lines the charge for five or six oxen, or one waggon of small cattle, is 7 . 25 d.; for three or four oxen, five or ten pigs or calves, or eleven to twenty sheep, it is 6.44 d.; for one or two oxen, or one to five pigs or calves, or one to ten sheep, it is 4-83 d. per mile. On the last-mentioned English line the maximum for horses and other beasts of draught or burden, if con veyed more than fifteen miles, sd. per mile; for less than fifteen miles, ss. the whole distance; for neat cattle, if more than fifteen miles, 3d. per head per mile; if one, at 2d. per mile; if more than one, if conveyed fifteen miles only or less, 2s. for the whole distance. These last instances are taken from one of the latest Bills, and are much lower than the average rates in this country; but, as has been stated, not only is there the utmost diversity in the charges on different lines, but also in the classification and mode of charging, so that it is almost impossible, in goods traffic, to institute a comparison either between the charges of different com panies, or between the charges of any one company and those in foreign countries. In Belgium the charges for the carriage of goods are it is understood, in many cases below the water carriage rates; and it is stated, in the Compte Rendu by the Minister of Public Works of the service of the year 1844, that the goods traffic of 1844 was about 52,000 tons, while it was only 33,000 tons in 1843, and that it was to the goods and cattle traffic that the very remarkable increase of tho revenue for that year, which exceeded the estimates by 630,000 francs, had been chiefly owing. The increase of the passenger traffic of 1844 above that of 1843 was nine per cent., while the increase on horses was 26 per cent., and on heavy goods 56 per cent. It is principally, therefore, to the carriage of heavy goods, which was scarcely thought of a few years ago, that the very considerable increase in the revenue is due. The Belgian Government would seem anxious to ob tain the goods traffic; for it is stated in this Compte liendu, that it is to the extension of it that the State must look for any fresh increase in the net profits of its railways. It has been observed, however, that the rail ways do not maintain a very successful competition with the canals; for while in 1844 the goods carried by rail way amounted only to 52,000 tons, those carried by canals amounted for that year to 400,000 tons. The canal traffic of 1845 still showed an increase, and the freights exceeded those of 1844 by 18,9451. It has been inferred that the Belgian Government have not yet suffic'ently lowered their charges for heavy goods. In France, by the law of 1845, the fares and charges are in pence and decimals : Passengers, per head per mile.—First class „ Send 1.25 ~ Third.ditto —Bullocks, Sze. Calves, &c. .. 066 It„ It If Sheep, &c. Fish, per ton per mile 8 37 Goods, per ton per mile.—First class ff „ Second dit to if „ Third ditt o 235 f .1 11 And ft f t Carriages, per mile.—Single bodied 4 .18 „ „ Double ditto The French charges are about 20 per cent. higher than the Belgian for passengers, and considerably more so for cattle and goods. _ . 91 Cattle per head per mile. The fares on the lines of Austria and Prussia, and the States of the German Confederation, are in some cases even lower than those of Belgium. Oa the lines of Austria and Baden, which were executed by the State, they arc the lowest. On the Austrian lines of Budweis and Linz the fares are only three silver gro,-chen per German mile, or 0.73 d. per English mile, for second class passengers, and two silver groschen per German mile, or 0 . 401 per English mile, for third-class passengers. In Prussia the fares differ very little from those of Belgium. On the Berlin and Potsdam line, for instance, the fares for first-class passengers are 1.4 d. per English mile ; for second-class passengers, 1.06 d. per English mile ; for third-class pas sengers, 0 6i. per mile. On the Berlin and Anhalt road the fares for first-class passengers are 1.47 d. per English mile; for second-class passengers, 0.93 d. per mil^ ; for third-class passengers, 0 . 61 d. per mile. The following comparison is instituted in the Rapport on the Projet do Loi:on the Northern line, to the Cham ber of Deputies in France, in 1845, between the passen ger fares in England, France, Germany, and Belgium, in centimes per kilometre, in 1844:-- First Class. Second Class. Third Class England France Germany Belgium 74 2 - 6f 5 4.5 5 7. 10 3 7-10 These rates may still be near the truth with respect to France, Germany, and Belgium ; but they are no longer applicable to England, where considera!sle reduc tions have taken place on most of the lines. But though the difference between English and Foreign fares and charges is not so great as it formerly was, it is still suf ficient to constitute a strong reason for control and in terference ; the fares on nearly all the lines are still too high, and evidence has been given that railway com panies, when they have driven rivals out of the field, have not hesitated to raise their charges, especially for the conveyance of goods, on principles not perhaps strictly in accordance with their own true interests, but still less in accordance with those of the public. Yonr Committee conceive this is far too important a matter to be left to the arbitrary will of companies. The greater cheapness of coal and coke in this coun try enables companies to convey heavy goods by railway at a much lower rate than Continental railways can pos sibly do ; and the ability to lower fares increases in the ratio of the amount of goods carried. A line with a tragic of 750,000 tons per annum, could carry goods with as much profit at Id. per ton per mile as the Paris and Orleans line with a traffic of 150,000 tons at 3d. per ton per mile. _ _ _ The maximum rates fixed by Parliament in the dif ferent Acts are in all cases above, and in some greatly above, what ought to be taken from the public ; and thug, were no other check interposed, the community would be entirely at the mercy of the companies. Be sides, as has been already observed, there is at present the greatest diversity both in the scale and the mode of charging on different lines. For these high fares no justification can be found, either in the original outlay on the lines or the expense of maintaining and working them. Mr. Reed, intimately acquainted with the work ing of English and French lines, who is confirmed by Mr. Brassey, extensively employed as a contractor in the two countries, states that the cost of earthwork is much the same in England and in France ; that the rails and chairs, which on the Soutnampton line cost 2,7901. per mile, cost 4,635/. per mile on the Paris and Rouen line ; that the working of the former line costs about Is. a mile, while it is about Is. 4d. on the Paris and Rouen line ; that the locomotive power and the carriages cost about 147 per cent. on the former, and 16 1.3 on thc. latter ; that the general expenses, including officers, police, &c., are about 12 percent. on the South-Western, and about 16 per cent. on the Paris and Rouen ; so that, in all these respects, England, it would appear, has a considerable advantage over France. On some of the English lines the balance of advantage is still more in favour of England. The cost of construction of the Belgian State lines appears to have been very unequal. According to the report of the Minister of Public Works, the three cheapest State lines were those from Ghent to Courtray, from Ghent to Bruges, and from Landen to St. Trond. The line from Ghent to Courtray cost per mile 6,6201.; from Ghent to Bruges, 7,675/. ; from Lander'. to St. Trond, 8,990/. The three dearest State lines were those from Louvain to Tirlemont, from Liege to the Prussian frontiers. and from Ans to Liege. The line from Lou vain to Tirlemont cost per mile 19,957/. ; from Liege to the Prussian frontiers, 40,7971. ; from Ans to Liege, 62,3251. The average cost of the State line was 17,1321. per mile. The items of this average c )st are, per mile, land and compensation, 2,919/. ; earthwork, bridges, tunnels, &c., 7,1631. ; rails , &c., 3,1461.; stations and buildings, 1,1531. ; working stock, 2,201/. ; miscella neous, 5501. _ The following is the coat of some of the French lines executed and in the course of construction : Per mile. The Paris and Orleans .... £24,390 The Paris and Rouen The Strasbourg and Basle 18,485 The Amiens and Boulogne 20,000 The Rouen and Havre 28,300 The Avignon and Marseilles 28,600 The Orleans and Bordeaux ...... The Centre The North, with Calais Branch 19,900 The Paris and Lyons 24,840 The Lyons and Avignon,with branch to Grenoble 25,800 The Austrian line from Olmiitz to Prague, 152 English miles, cost 11,6571. per mile ; that from Briinn to Billimisch-Trilbau, 55 English miles, cost 16,3601. per mile. The cost of construction of the Prussian lines appears to have been generally lower than that of the Belgian lines. According to the elaborate work of Baron Von Reden, the cost of the Berlin and Potsdam line was 12,323/. ; of the Madgeburg and Leipsic was 10,1791. ; but the Rhenish line from Cologne to the Belgian fron tiers was to cost 28,3311. per English mile. This last line, though lower than most of the English lines, is higher than that between Edinburgh and Glasgow by a trifle, and considerably higher than most of the Scotch lines. Mr. Legoyt, a respectable authority, estimates the average cost of the German lines at 170,0001. per kilometre, or 10,9401. per English mile. The Prussian and other German lines pay less for land and law charges thon the English lines. The following is the cost per mile of some of the principal lines in this country:— Average cost per mile. Arbroath and Forfar £ 9,214 Chester and Birkenhead 34,198 Dublin and Drogheda 15,652 Dublin and Kingstown Dundee and Arbroath Durham and Sunderland 14,281 Edinburgh and Glasgow 35,024 Eastern Counties and North Eastern 46.355 Glasgow, Kilmarnock, and Ayr 20,607 Glasgow and Greenock Gravesend and Rochester Great Western 43,885 Hartlepool London and Birmingham London and Blaekwall London and Brighton 56,981 London and Croydon 80,400 London and South-Western Manchester, Bolton, and Bury Manchester and Birmingham Manchester and Leeds Midland 30,949 Newcastle, Darlington, and Brandling Newcastle and Carlisle Newcastle and North Shields Norfolk 13,150 North Union and Bolton and Preston Preston and Wyre Sheffield and Manchester South-Eastern 44,412 Taff Vale 21,610 Ulster York and North Midland, &c. The extravagant expenditure in England in buying off powerful l an d owners , f rom w h om o pposition was an ticipated, and i n t h e procee di ngs b e f ore obtairrng Acts:, no doubt swelled very much the outlay on many of the English lines. In the mere purchase of land the outlay was often as great in France, if not greater than in England. Mr. Legoyt averages the purchases and com pensation o n th e three lines of Orleans, R ouen , an d N!smes, at 40,000 francs per kilometre, or 2,572/. per mile. Mr. Reed states that on the Paris and Rouen line, the land damage and law charges cost 3,1321. per mile (the law charges being very trifling), while on the South-Western th ey cost 3,6231. per m il e . B u t if the outlay has been unnecessarily great on some of the English lines , and t h ey run through di str i c t s o f w hi c h the traffic does not, as is alleged, yield the usual returns on capital, that can surely form no reason why an ex travagant scale of fares should be adhered to. The pro prietors of a bridge would not be allowed to charge high tolls because moderate tolls would not yield such a re turn as they might wish to obtain for the capital ex pended by them. Mr. Peto says, he has several times stated to the directors of lines in agricultural districts, that if the fares be low they will have a larger traffic, but not otherwise, because the people in such districts cannot aftbrd to pay largely tGr th e i r travelling; that unless you bring it within their m eans t h ey will not come to you; and that If low faros Ivill not pay, high fares never can. Mr. Robert Stephenson states it as his belief, that re ductions of fares are not carried to the extent that rail way companies, as they go on and gain experience, will carry them. It is possible that ultimately the conviction may gain ground that further redu c tions to a grea t ex tent are indispensable; but your Committee cannot shut their eyes to the danger of placing the community at the mercy of companies, who may or may not take views of their interests in accordance with the interests of the public. The railway companies have either driven, or must ultimately drive all competition from other quar• ters out of the field. Even the canals, which it was thought with proper management might maintain a suc cessful competition with railways in the case of heavy goods, in many instances, as has already been observed, h ive been beaten by them, and the report of the Com mittee on Railway and Canal Amalgamation Bills shows but too clearly that we must prepare ourselves for seeing the canal interest come still more extensively under the influence and control of railway companies. This has resulted not merely from the power which the passenger traffic gives the railways of conveying goods at rates at which the canals cannot afford to carry them, but from their obtaining the command of portions of the lines of canals, and raising the tolls of that portion to the utmost limit allowed by law, so that the com panies in possession of the remainder of the lines are thereby disabled from maintaining a successful competi tion. On no subject is there a more general agreement among all the intelligent witnesses recently examined by Committees of both Houses of the Legislature than that railways either now are, or from the nature of things must soon be, in possession of a complete mo nopoly of all the internal traffic of the country. The system, which has been carried to so great an extent by some companies, of creating nominal capitals, amounting to twice and even three times the actual outlay, had no doubt mainly for its object to enable them to exclude the interference of Parliament, and maintain extravagant fre m a oa s e . t i U mp nd or e t r an s e uh circumstances, e c thatarigilants i o pe t becomes rinton dermoefshpraoaold be exercised over the different railway companies, in order to defeat any attempts on the part of those com panies, from whatever motives, whether mistaken views of their interest, or the supposed necessity of their posi sition, from exacting higher fares, either for goods or passengers, than the interests of the community will al low. Without interfering with the details of the ma nagement on railways farther than the necessity of the case may occasionally demand, they ought, as in every other country, to be eimpelled to furnish all the informa tion necessary to the thorough understanding of what ever relates to the working of the lines, and in particu lar to furnish:complete and int. lligibie accounts of re ceipts and expenditure from time to time. By the exercise of such a control alone can a hope be entertained that the interests of the public be safe under the existing railway system. The general rule may be exceedingly good, that the utmost scope should be given to private enterprise, but in the case of railways the most important interests of the country are at stake, and a monopoly, embracing all its communications, and consequently possessing power in the absence of control, of inflicting irreparable injury on its trade and industry, from the very nature of things, ought to be exercised under proper regulation and supervision. Most of the witnesses representing railway interests, examined by your Committee, deprecate all attempts to regulate with exactness the scale of fares, and contend that the Legis lature should content itself with fixing a minimum. It is proper, no doubt, that maximum fares should be fixed in Railway Acts ; but though they may be fixed with care, and may sometimes approximate to fair rates at a given time, they can never meet all future exigencies. Continual improvements are made, both in the modes of constructing and maintaining lines, and in the mechanical means by which they are worked, and the public ought not to be excluded from participation in these ad vantages. The maximum rates are, however, almost always extravagantly high. In the Acts passed so late ss e a n e t r h s the a re session almostofalways 5 84 thrice the m a a sx muchmu m a s rates on tli for o p Belgian lines, and the charges for goods usually exce e d 1 those in Belgium in nearly the same proportion, though sometimes in a much greater. Thus, while in Belgium twenty sheep may be carried a mile for less than 41, and in France one sheep for 0 . 34 d., the maximum rate for sheep in not a few of the English Acts of 1845 is 2d. per head per mile, more than six times the Belgian and French rates. Such is the extent of the arbitrary power possessed by companies. But because the Legislature was at first taken by surprise, and from inability to foresee the results'to which railways have led, omitted to take suit able precautions against the abuse of the powers entrusted to companies, that can be no reason why we should not avail ourselves of subsequent experience to turn to due account such opportunities for protecting the public as are afforded under the Acts passed during the last two years, and as will be afforded under future Acts. Your Committee conceive that though the occasion, which was carefully seized by the Belgian and some other Governments, of placing the management of railways in accordance with the interests of the community, has been neglected, yet that we should never lose sight of the fact that railways are a public concern, and that the most perfect system in the abstract is that which regulates the fares by such scales as will produce the utmost amount of convenience to individuals and give the utmost possible development to the trade and interest of the country. We cannot, as in Belgium, ob tain all the benefit which an increased traffic on railway lines might give, because the first adventurers in the great lines, which were undertaken before the practica bility and profitableness of railways were established, are entitled to large profits as the legitimate rewards of their enterprise and sagacity, but there is a point beyond which the sacrifice of the public interests ought not to be carried, and, therefore, every available occasion should be seized for reducing fares. Your Committee, enter• . . taining such views of the legitimate demands of the pub lic on railway companies, cannot admit that we should be content with the maximum fares imposed in the Acts, and leave the reduction of them exclusively to the dis cretion of companies, _ _ Much of the evidence received by your Committee bears upon the defects of the existing system of legis lation in the so-called private Bills, which are often private only in name, and in which class Railway Bills are comprehended. The objections to the mode of pro ceeding in these Bills are of extensive application ; and your Committee have seen with satisfaction the report of a Select Committee on the subject of Private Bills, recommending a decided alteration with regard to them. Of one of the suggestions in that report, your Committee cordially approve—the appointment of a public board or department to which all applications for Private Bills affecting public interests should be re ferred. Such a board, if properly constituted might re lieve Committees of the House from much waste of time and companies applying for lines, as well as the public at large, from much needless trouble and expense. The example of foreign countries has shown that many in quiries with regard to railways can best be conducted on the spot. But, besides the advantage from substituting a cheap and natural mode of co n d uc ti ng inquiries for the present cumbrous and most expensive mode before Committees, under which, too, they are entirely de pendent for information on interested parties, the public might hope that a properly qualified board, entrusted with railway affairs, would obtain more knowledge of the wants of the country, and of the best means of sup plying them, than committees under the present system, can possibly possess. Your Committee, are, therefore, of opinion, that the functions of the board may, with safety, bo extended to the supervision of ex isting railways, and the determining, in the first instance, subject, of course, to the con trol of the Legislature, where lines should be con structed, and what projects should be entertained. It so happens that existing companies have an interest, in common with the public, in preventing wild and unne cessary projects for the construction of new lines from being put forward; and your Committee therefore anti cipate from them no opposition to the confiding such powers to the board as may be necessary to enable it to interpose with effect in defeating foolish or fraudulent schemes in the outset. The receipts of those companies are always diminished by the construction of rival lines; and they are often put to heavy expense in purchasing them, and in buying off threatened opposition. Mr. Robert Stephenson thinks the fact of the pre liminary steps in railway schemes being subject to no control, is the root of all the mischief now existing in the railway world, and is of opinion that no project for the construction of a new railway should be allowed to be brought forward till it has been taken into con sideration by a Government board. Mr. William Reed, who acted for about five years in the capacity of secre tary to the South-Western Railway, and who is now a director of two French railways, the Paris and Rouen and the Ration and Havre, is of opinion, from his ex perience in both countries, that the greatest benefit would result from the appointment of a Government board, to which should be committed the examination of all projects for the construction of railways, with power to veto them if disapproved. In France all schemes must first be submitted to and approved of by a Government board; but, notwithstand ing their having obtained the sanction of such a board, they are still, as in England, referred to a Parliamentary Committee; but that Committee does not, as in England, hear counsel and receive evidence on all manner of de tails, but merely decides on' the materials submitted to it; and it is only when any difficulty occurs, or explana• tion is required, that a member of the Government Board is called before it, or some superior person in the confidence of the promoters of the project, who supplies the addition a l i n f orma tion required, in order to en a bl e it to arrive at a correct decision. This part of Mr. Reed's evidence is not materially contradicted by another . wit ness, Mr. D. S a l omons , w ho s t a t es th a t the Canstnission of the Chambers may alter and modify a project, and that " it does hear evidence in one way or other." What Mr. Reed wished more particularly to convey was merely that the inquiries, which are conducted at so much ex pense, and occupy so much time before Committees of the Houses of Parliament in this country, are unknown in France; and that the Commission of the Government Board of that country, though it does not decide finally whether a particular project shall be adopted or re jected, is invested with the power of determining, after due inquiry, whether or not it shall be submitted at all to the Chambers. In the one case the State wishes only to understand the m er it s o f a pro j ect before allow ing it to be brought forward, and adopts the means believed to be mo s t con d uc i ve to the attainment of thats end ; iu the other a project is at once suffered to be brought forward, without having been subjected to the ordeal of an exam i nat i on b efore a department of the Executive entrusted with the care of the public interests. which, she uld n o o pp os i t i on b e offered on thepart of existing compani es , t h e owners of property, or the pro moters of r i va l pro j ects, are here but little regarded • while, on th e ot h er han d , parties can only hope to suc ceed in their opposition by the employment of counsel of eminence, and by bringing forward witnesses, often from a di s t ance , an d ma i nta i ned in London for weeks at a heavy expense. Some idea may be formed of the magnitude of the sums absolutely wasted in this country, before Bills can pass through Committees, from a return just made by the Eastern Counties Railway to an order of the House. The line, which is 51 miles in length, cost 45,1991. in Parliamentary expenses. The other prelimi nary expenses, such as cost of engineering, &c., amount ing to 48,6501., are separately stated. The Parliament ary expenses of the London and Birmingham have been stated at 6501. per mile ; of the Great Western at 1,000/. per mile. No wonder that foreigners hold up their hands in astonishment when they hear of this enormous waste. The sums paid for land by the Eastern Counties amounted to 809,950 L, or about 12,0001. per mile, alone, exceeding the whole cost per mile on most of the German lines, and on several of the Belgian. The London and Birmingham and the Great Western paid 6,300/. each per mile for lands. In the case of the Rouen and Havre line, Mr. Reed states that 6,0001. was paid to three gentlemen who made considerable ex ertions to obtain the Act, but that the expenses incurred in the inquiry before the board, and up to the time the Act was obtained, amounted in all only to 7001. The allowing, as an affair of course, the projectors of a railway, on giving the prescribed notices to drag ex isting companies or owners of property on the proposed line before a Committee of the House of Commons, is an evl the magnitude of which can hardly be over-rated. Many of the schemes lately brought forward were, on the face of them, quite unworthy of being entertained ; some were started for gambling purposes, and not a few with the object of compelling existing companies to come to terms in order to avoid a troublesome and expensive contest. Mr. Peto mentions cne instance within his own knowledge, where, though the line was utterly irnprac citable, and the Bill never went beyond the Standing Orders' Committee of the House of Commons, the solici tor's account, which did not include the expenses of engineers and various other outlays, amounted to no less a sum than 82,0001. Your Committee are happy to perceive that the causes of the failure of the Committee of the Board of Trade to answer the ends for which it was appointed, are satis factorily explained by many of the witnesses whom they have examined. Mr. Robert Stephenson attributes the failure not to any incompetency on the part of that Com mittee,. but to the faulty system pursued by them in re ceiving evidence in private. Without entering on the question whether, if that Committee had been properly supported by the Government, a different result might have been expected, it is sufficient to state that no con clusion against the placing railways under the super vision of a department of the Executive can be fairly drawn from that failure. The Committee of the Board of Trade took more enlarged views of the object for which they were appointed than the Legislature and the public in general were then prepared for; but after the experience of the last two years, the conviction has be come general that something more is required than merely to decide between the conflicting claims of con tending parties, and that railways are of too much im portance ,to the community to allow of their being any longer viewed as subordinate to the interests of individuals. Objectionable as the mode of proceeding before Committees confessedly is, and erroneous as their decisions may sometimes have been, this evil, great as it is, sinks into insignificance in comparison with that to which the country has been exposed from the want of a board of high character connected with the Executive Government to watch over the public interests in railway affairs. Such a board, pursuing an enlightened system in sanctioning or rejecting proposed lines, keeping constantly in view the necessities of the country and the protection of the public from excessive exactions for the conveyance of goods and passengers,!and taking due advantage of every suitable opportunity that may present itself for obtaining a reduction of fares and charges, and uniformity both with reference to prices and classifica tion, would soon obtain the confidence of the public, and command the respect of the Legislature. Though Par liament would still have the power of deciding in the last resort, it would no longer be forced to encumber itself with preliminary inquiries which might be so much more advantageously conducted before a tribunal proceeding according to a more judicious system, thoroughly acquainted with railway affairs, and there fore peculiarly qualified for the task confided to it. The hopelessness of shaking the confidence of rarliament in the Board, which would result from unsuccessful at tempts could not fail to induce a disposition to acquiesce in its decisions, and thus the spirit of gambling which is so much fostered by decisions varying with each other in principle, would experience a serious check. That part of the functions of the proposed Govern ment Board which relates to the supervision of existing railways, in order to secure the public against a capri cious exercise of their powers, and unreasonable fares and charges, might not be"so palatable to companies as the power to interfere in the origination of new schemes. Your Committee are, therefore, thoroughly persuaded that a due regard to the public interests essentially re quires that companies, in the exercise of their powers, should be placed under a vigilant supervision. A board of high character and influence, possessing an extensive knowledge - of the wants of the different parts of the kingdom, might resolve oh doing so of their own accord. Mr. Smith, of Deanston, for instance, states that the greatest benefit may be expected from the conveyance of fat cattle on railways, as they can only be dri v en f or a Very abort distance. Now on many of the railways the directors have from the first maintained, and still maintain, a scale of charges for cattle which utterly excludes them from railways. Captain Laws, a direc• for on two or three railways, and who has the manage ment of the traffic on the Manchester and Leeds Railway, recently stated before another Committee that railway companies, by fixing their fares for cattle and sheep too high, deprived the public of the benefit of the conveyance by railways ; that though the present rates are only about a third of those with which they started, and though the reduction has greatly increased the traffic, the majority of the cattle and sheep are still driven, to their great detriment. An intelligent su pervision would have led to the correction of this evil long before this, and prevented the iporance or obsti nacy of directors from inflicting so serious an ilijur, on the public. A pretext has been set up by companies, that the great outlay by them on their lines ought to secure them from all interference with a view to a reduction of fares, so long as the profits of the undertakings do not allow such dividends as would constitute a fair return on their capital. Though fares so high as to interfere with the interests of the country ought in no case to be allowed, and the principle of determining fares by the returns which capital ought to obtain is not to be recognised, yet it may not be irrelevant to observe that even if the amount of capital sunk in a line were to be taken as a criterion, it would be necessary to distinguish between the original outlay on a line, and the amount to which the capital of the company has been swelled by the mode adopted in purchasing and amalgamating with other lines, and in providing for extension and branch lines. It is quite clear that the original outlay on lines, including all the extravagant purchases of land, and the wasteful expenses incurred in surveys, and the proceedings before the Parliamentary Committees, falls far short of the amount of stock which has been created. Your Committee are unable to state with exactness the amount of money divided, or to bo divided, in this country, among proprietors, as premiums on new shares, but they conceive it cannot fall much short of fifty millions. The payment of large sums to obtain the consent of competing lines to amalgamations, which at one time excited so much sensation, was not so objectionable in itself as in the use that was made of such amalgamations, and of the power to raise money for the extension of old, and the construction of branch lines. By issuing shares representing capital to an amount far beyond that of the money required, in order to enable proprietors to divide among themselves large premiums, sums were pocketed by proprietors, which,. if applied to the purposes of the lines, would have rendered a corresponding issue of shares unneces sary, and in so far diminished the amount of stock created. Of these practices a striking illustration has already been given by your Committee from the report from the Select Committee on Group (58) of Railway Bills, relating to the Hull and Selby Railway Purchase Bill. Were an account taken of the sums already divided and to be hereafter divided among proprietors in this objectionable way, and of the expenditure incurred in buying off parties supposed to possess powerful interest, and in proceedings before Committees, which at a low estimate alone must have exceeded twenty-five millions, they would have been found sufficient for the construction of trunk lines for the whole country. The whole of the State lines of Belgium, of which 145 miles were double, and 202 miles single, cost only 5,945,148/. The whole of the capital required for the magnificent system of railways executed and in the course of execu tion, and projected in France, down to the autumn of 1845, by which the commercial wants and military de fence of that great kingdom were provided for, does nQt exceed the sums divided and to be divided by a few English companies among the proprietors in the shape of premiums. The capital for 31st of July, 83 r h thelines concededandls, m eoi d executed iete in te France, down to 8,576,0001.; and among these lines are those from An dresieux to Roanne, from Bordeaux to La Teste, from Montpellier to Cette, from Mulhausen to Mann, from Paris to Orleans, from Paris to Rouen, foom Paris t o St. Germain, from Paris to Versailles, from St. Etienne to Lyons, from Strasbourg to Basle, the line of the Gard ar.d the mines of La Grande Combe. The capital for the lines in the course of execution at the above period amounted to 14,000,0001. The capital for the lines and branches to be conceded in 1845.6, voted in the session of 1845, amounted to 32,360,000/ The capital required for the lines remaining in the state of report at the close of the session of 1845, excluding a few branches not finally decided on, amounted to 9,520,0001. All these sums taken together amount only to 64,566,000/. This was the estimated amount of the capital necessary to complete the French railways at the period alluded to, though, indeed, additions have been subsequently made. Such is the manner in which sums have been withdrawn from the purposes of the public deemed suffi cient for the coustruction of railways, on a magnificent scale, for the greatest continental kingdom, where local difficulties are often formidable, and where the outlay for earthwork, masonry, and iron work is as high as in England, and which, if applied to their legitimate purposes, would have left no part of Great Britain with out the benefit of railways, It' we assume the aVet'age cost of the tOtietruction of railwap ih Prii.sia to be 12,000/. per mile, which, judging f rom th ose a l rea dy erteettei.i, is rather above than below the mark, the whole expenditure on 0,200 miles of railway by which th e su rf ace o f a kingdom co taining a populati on near ly equa l t o th a t o r Engi...l will be covered as with a network, will not exceed 36,000,000/, a fraction only of the money withdrawn here from its legitimate purposes. Part of the evidence taken by your Committee has reference to consequences with which the establishment of railways has been attended, to a branch of the public revenue intimately connected with the convenience and welfare of the great body of the people. Before the establishment of railways the Post-office, according to Mr. Stow, paid for the carriage of the mails, including the coaches, something under 2d. a mile, but the chines 4 . tbel It by the railways are moot , higher in the case of one railway, the North Union, The amount to no less than 2s. 9 13 64d. per mi le ' Gre at aggregate charge for carrying the mails in t ,s, Britain was, in :1836-7, before railways were 4 2 ' 4 f o r 53,293/. 18s. 4d., or 1 30 32d. per mile per tist os o 18,090 miles ,• but partly in consequence of the it , th s of letters and parcels through the introduction ositio, penny post, and partly in consequence of the WO eeiv - charged by some railways, the aggregate charge ' s much higher. In 1846, as appears by a return from the Post-ofrci the number of miles travelled daily by m oil cose i r d s per been reduced to 11,473, while the amount Pel le Per annum was 45,729/. 108. 6d,, or 2 19- 32 d. per- 111 day. But besides this sum. there is ways no less than 102,1851. 65. 10d_,.• the two ad hale in together to 147,914/. 17s. 4d. Mr. Robert S.te r P tit io son, who has been extensively employed in arb' t • so tei between the Post-office aal) railway, companies' paid yearly' te„to, that the principal difference between Captain liar nt ior the part of the Post-office, was this, that Capta' a ness contended that if a line run six trains a di'lq o filf seventh were wished by the Post-office, it shile,L, pay the bare cost of that seventh train; but that 1-1` No; we ought to negotiate with the Post-0i1ic 3 ,. 35 0 tbo other parties; there is no law that exempts them if t % bad ordinary mode of transacting business; therefore,' ut of invariably maintained that the total establisleaf t he the railway ought to be taken, and a portion o ' charges placed to the account of that one trairrodo serving, significantly, that if the Legislatur e a law that they should be treated differen tl y' , wr 1;04 good; but that he took the law as it stands. to states that in France they are obliged by everY f o r reserve a compartment of a carriage, conveniell",,g Of person to ride in for a post-office guard, with Syt erfl letters, without any remuneration; and a si cuil° A r vhee seems to prevail on all continental ritilvvZSYs . .,, c separate train is required, it is paid for fiy - In this country the mail proceeds along sotne 0 1 ." hour of the night when there are no passenger, , s ) ;id to there are, therefore, reasons why a diff er ence se Or made between such firm and the Great North of • _his land, where the train for the mail runs at a rt time and carries numerous passengers. Your 0 conceive that in all cases where the mail is passenger trains, no charge whatever should against the Post-office; and that when the ft veyed at times when there are no passenger charge should in no case exceed the additions to which railways may be put by running such In France and other continental countrie: are also obliged to convey soldiers, sailors, a' and their baggage, either gratis, or at rates tionately low. It might, perhaps, be advisab= country, in the case of all bodies of men in the, t to of the public, to fix scales of fares merely.s uffle ` c " ; , se o° cover the additional expenses to which their 0000 might subject railway companies. Your Committee will now briefly recapite la 1/ te points which they conceive ought to be aimed at 1 future railway li system:— o wls 1. r No future nes, either for main trunks or should be ceded, except for terms of years. 4 51 1 2 Full and accurate accounts of the proceee' ses. railway companies, embracing their whole r eee ' ; P be fo expenditure, should be laid from time to time Parliamen t o' l4 • 3. As all . idea of the construction of new lines oter le they are not called for by the wants of districts, 5t be to give the public the benefit of competition, 0140 absndoned, in return for their monopoly, comPaeLe!, 0 4/ to submit to an efficient system of control, wil" "OW! to the security of the public against extravagsnhe and charges, and the adoption of uniformity on, t „.. ferent lines in the scales and the mode of cha r„ op, °' 4. An end should at' once be put to the a(' issuing more new shares than are required c° ';P rt cessary outlays, in order to divide premiums 0 1'0 0 ° 4 prietors and thereby swe ll th e amoun t of nornii o beyond the actualprovide outlay. 5. In order t efficiently for the sur.: o s o donee of railways, and in order that the inteu'looo Parliament may not be defeated by the directors °,60310 panies, and in order also that a judicious raitsvaies/00 may be ensured, and a cheaper and more etrec t l%l l o oll of conducting preliminary inquiries than that v 1 .„ 1 o f V a takes place before Parliamentary Committees `-shoo°' adopted, .a board or department of the Executive suit' be appointed, with power to employ inspectc,°,4se veyors, and other officers, to aid them in conclOct,llljoigil inquiries. Such a board, to which railway affe' r- j ertic i be entrusted, would, from the knowledge it etw ici oeO ri to acquire, be enabled to judge what lines are P e w far ts fur the, supply of the wants of the country , h c a to oil; given project may be conducive to that end, a° ,,, of e' to ply Parliament with such information as maY in enabling it to legislate 'in the way most b eil " th e the public. 6. Railway companies should be obliged to l o g / 0 Post-office mails by passenger trains free of mss'c ford and at times when there are no passenger tra r ett additional expense thereby occasioned. The ' l ' . which may be advisable in the case of soldierst ey: and other bodies of men in the public servi ce h o been considered by your Committee. August 25, 1846. RAILWAY SHARE MAR K EDS MANCHESTER, AuousT 29. STOCK EXCHANGE.—The sales are—Blackburn Clitherod,forjr, dis. —Blackburn, Darwen, and Bolton M St¢ t 04;, /, Birmin g ham, its. dis.—Buckingliam and BietchleyJunctio.7.o' t ' I OS Eastern Counties, New, h —Ditto, York Extension, _ir.:'; t oll. maitre, 9 p.—East Lincolnshire, dis.—Fie tw od, 28 . ;t1/ 1 West Riding, 145. dis.—Huddersfleid, Halifax, e a d o B ad Huddersfield and Manchester Railway and C n nal r 2 0„'"-- . 1A" - and Thirsk, 29i —Leeds, Dewsbury, and Manchester, a, 44 ter, Birmingham, and Trent Valley Junction, , Orinskirk, and Preston, 4 p.—London and North-Wet London and York, Si dis.—Manchester and Leeds, Fitt"; K rt - e i rS% Manchester and Southampton, 19s. dis.—North Western , , QuA ~0, ham, Birkenhead, &c., dis.—Sheffield and Manchester , Ihl N. 1, 4 1 4 p.—Ditto, No. 3, % P. —Shrewsbury and PF, p.-Shropshire Union Railway and Canal, 17$. 6d. Eastern and Dover, Consolidated, No. 3,5% p..--DittO , P.,;11,31 4, 15-16 p.—South Staffordshire Junction, 7-16 p.—Tre! 'WO land, &c., 3 4 p.—West Riding Union, 3 5-16 p.—Wl' ite Furness, 2 dis. et t l LEEDS, AUGUST 29. iy ar ,,s l :ol Siva( Excuerfoz.-Prices were declining in the ear os week, and a general dulness pervaded the trade, bu t tt er d er t , IfY oi we on Wednesday and Thursday caused a little 11 t 0 01 1 to for shares, which was materially increased on the reeoP t ot b 9 eY telligence of the reduction of the minimum rate of scull e e fo re' Bank of England to three per cent. This measure 3 1 ', f f pected for some time, and various rumours have been ',: cto rs c` to o specting It ; but the declaration, at this time, y the dir_.t idA lti eV Bank, is considered to evince a confidenee i b n the Pr e e ' r t s is foe the money market, and a belief that the monetary er P ric r many have anticipated, is not now at hand." nigh fo . _ t o shares have been generally realised, and a favourable feirspec_inloti ther advances is entertained ; yet there is not so o uw 4r e 1 13 7 th ot l afloat as during the late fluctuations. The advanc es , - so rsilc: o , and steady, and therefore wear a more healthy 13 1', 0 Wl' to f; when sudden variations of considerable extent occu r ,„ 4 " t i forc e dill continuance of favourable weather would give additt°'-ifs ate, 4 . 00 in be 0 other causes of improvement. The annexed 1 10 . „Ad A.r closing prices, all shares being more or less itriPro;:, d derOoi tt le:l 9 class small stocks, East Lancashires, DewsburYs , !r o ar, vr t fo al Sheffields, and Huddersfield and Manchesters are in jarofitslleld A nd Great Norths are well worth attention for safe and P' dder' id an d Ott ,„$ ment. The sales are-East Lancashire, 9% 1 1 . - iodde';',A Manchester, 2% c. p.-Ditto, Extensions, 9s. p• - t e eds 4 ";:, - 1,, ;".' Sheffield, 7% c. p.-Leeds and Bradford, 43% p. -- 4 Th" an 13e/ bury, 4% c. p.-Ditto, Branches, 1% p.-Leeds t i t .d Isfor; dis.-Manchestcr and Leeds Extensions, 2% - eW 00 ° wick, 14 p.-North British, :Carlisle Branch, Fast cester. mid Wolverhampton, 635. 6d. s. Riding, 2 p.-Ambergate, Nottingham, and Boston, 1 7 am san . ton, Stamford, and Birmingham,' Is. 6d. dis.-BueldUt s bire, 2 s. p.-yorkt s. 3 0; -Clitheroe Junction, 15s. dis.-East and West Y , ..n .. ". i tre, -Grand Union, 13s. dis. -Lancashire and North 0 ; , die dis.-Lancashire, Yorkshire, and North Easter., „,: ms ortil r , Wakefield, and Midland, 14s. 6d. dis -Leices ter ' " • rentry, &c., ss. dis. -Liverpool, Ormskir • ffield Junctlo London and York. As. dis. s.-Malton and Dr , d, 105, H.-Manchester, Buxton, Matlock, and MidldanGoole, 160. Western, 7s. 6d. p.-Sheffield, Rotherham, and Union, 83. die --West Riding Union, 5% 0. 50, 4 BULL. A.UOVAT 29. ic eS, k, and Preston, .7. , . 4, t o Selby, 10 1. 19 STOCK EXCIIANGE.-The sales are-thill os. gate, Nottingham , Boston , &c., 2 -East Lincolnshire, -North British, Half Shares, IVA-Ditto, Carlisle, 4% 5 ' iF i ~td cs, wood, Preston, and West Riding, 4s. 6cl -Glasgow, D lo °4r,, 0;,/ Carlisle, 33-Great Northern , VA - Leicester and Tainw°`l„ 1"" North Western, Bs. p.-Annagli, Coleraine, anciFortru' Grand Union, 14s. 9d. 1 3 ' SHEFFIELD, AUGUST 29. 10' 'lfij• &rocs EXCRANGS.—The sales are—E ast 4 Lancsuih e als!_oo,, Grimsby and Sheffield, 2% dis.—Ditt o , Extension, 13 r., / ' dis•"; quarter Shares, 7s. 6d. dis.—Ditto, Railway and Dock, dersfield and Sheffield, 7 1 4 p.—Leeds, Wakefield, and X"' ,ter" dis.—Manchester, Midland, an d G reat G r i ms by, 200. " shester and Lincoln Union an d C anal, 1 6 s. dis....jcort , 11 0 ,00 , 6s. 6d p..—Sheffield and Lincolnshire, I,i dis.—Ditto, do. dis.—Sheffield, Buxton, Leek Potteries, and Crewe, 9 t, NEWCASTLE-UPON -T YNE, Anoorr 27 * i dis i so t i STOCK EXCHANGE.—The sales are—Caledonian, N e V r oisk i 0 . cashire and North Yorkshire, 13s. dis.—LiverPeo l, Preston, 3 5.16 p.—Newcastie and Carlisle. 105 Ri 34. l'• Darlington, Extensions, 10% p.—South Midland, Riding Union, 3 p. YORK, AUGUST 29. 0, 16 5 ' n , 0, Sromaxclutiaz.-The sales are -Clitheroe Junction, ,„ o ,sie i3e.' P , o i .10 Direct Northern, 11. 18s. 6d.-Eastern Counties, York ter il io tlo' o , -Grand Union (Nottingham and Lynn), 135.-k,e i f. t es t 0,1,14 ford, 135.-London and York, 2 -Manchester, fi.u o .---:400. 1 0, and Midland, 31. 9s. 6d.-Newcastle and Berwick, 2 '.,..teiri1f 0 ,;.1 and _Darlington, New, 11 1 4 -North British, Carlisle • - e ycl,,:'" o riL - -North Western, 11. 95.-Sheffield, Rotherham, liakS fi l 4.' Huddersfield, and Goole, 1%-West Riding Uniou, ",,,, North Midland (East and West Riding E x tension), l 3 i . ....A l ' ° ! : EDINBURGH, AUGUST 28. Is 6 4 ,.. 61;0 STocK EXCHANGE.-The sales are-Aberdeen, St. /- 3 . /. _ . ,,,1' - ggi , , l cl deen, Banff, and Elgin, I/.-Airdrie and 8athg......W - osLno Arbroath and Forfar, 28L-Ditto, half Shares, 151. 1yr.....13e1t1e' 4 ,- , Portrush, 14s. 6d.-Ayr and Galloway, 11. 7s. T r ; -01 / I ""„ra'' County Down, 85.-British and Irish Union, 21. 2 5 . u - :100 , " . ,C_,"", , 15/. 7s. ad.-Ditto, New, 11. 10s.-Caledonian Exton' /4 1 . - 6 0 . ,' Caledonian and Dumbarton, 1/. 2c-Clydesdale Junctili, 16 :,D,, P i1: wall and Devon Central, 1/. 75.-Deeside RailwaY',/ 1 6° ; ( 0.0' • Direct Northern, 11. 13s. 6d.-Dublin and Enniskille n ' - ;,;(1.f - PW , dee and Arbroath, 37L-Ditto, New, 23/. IN.-Dundee it 1 5 'jYl e 'i, 7s. 6d.-East Indian Railway, 155.-East a .Fife , ..., 1 01 ',, --- 1 1 .11. burgh and Bathgate, 21. 145.-Edinburgh and Glayseiett'fo.direotiel.6.4", Half Shares, 17/. 155.-Ditto, Quarters, IV. 105.- 181.-Edinburgh, Leith, and Granton, 18L-Ditto, F rw t, f 95 .11.0, -Edin buret] aa 1 Northern, 101.- tr, -Sel„jcti,..-,4 , ' Edinburgh and Perth, 21. IN.-Forth and Clyde .",',.1. 50.',..0,,e , -Glasgow and Ayrshire, 73/.-Ditto, New Stock , "' 2 /, 8 ,, . ,ftw e r Quarter hares, 18/. 10s.-Glasgow and Belfast Unlen'podo:, f il T o y, gow, Diunfrles, and Carlisle, 11. 14s. -Glasgow /lud o . ao pe , _ 51' _4 lion, li. 135.-Glasgow and Garnkirk, 40/.- G1351)4700, 246,..411,, r9`t, minus, 81. 10s-Glasgow and Greenock, 16/. 10s. --.,,„„ i on* ,- 0. ~ ,,r 8/. 18s.-Ditto, Preference, 1/. 155.-Glasgovr, 0 -' d oli, K A , Ardroscan, hi, 105.- Glasgow, Strathaven, and .Lesmiff. 6,1,- - ,,, pli, 15 2 3 / ..- :=_DNiet 153.-Newcastle asHaaelfa Shares' a t ic e i r:; , : to " 3 ;: fri l c E .o ' r x l :t: s e st li nci. ,!:, lll' , -Granton itinction, IN.-Great North of Scotland, 2.74,411;,;_iir ness and Elgin, 17s. ad.-Lanark and Lothians, 21. i, : / 7' ./ fast, and Ballymena, N.-London, Bristol, and South,,. OE! 15/Pie land d a a i ri , ti -London ila,t c rn a do id ui l lt .o ie r s k . , North British, 155.-Ditto, Halv 7 e l , l l s 6 s / . ._ 15 5 5 . 0 Carlisle, 4/. 75. ad.--Dltto, Fifths, 145.-North Wales Mineral, 16/. 155.-Ditto, Nev°" , 01 . 75. od', Perth and Inverness, 11. I Is. ad.-Scottish Centaraie „dark j .. 00. 4 , Ditto, New, 91. 2s. 6d.-Scottish Central and C* , 1...'`:,,,,,,d, 7 4 51 0 6 5, 11. 105.-Scottish Grand Junction, 125.- Scottish D." . ., .7, b S u CO ry tt:s o ll 3, S v O es ti t t r h y e , li a ll n , d ll c . hl7essi-er,Sllsrl.ewisobst.t_rysr, 105.-South v lle j,_i _e i_,, f o __ r tAi n ia ' 2 : i l j - : , 1 2 51 • .... 1 60 , : e / Stirling and Dunfermline, as. ad.-Stirling and . 3 . 1 ,`.. ... Strathern Junction, 27.-Wishaw and Coltde" - f ./.16/0 BIRTHS. On the 25th of August, at Banbur n Y, a Lin ,,,, • V Hamilton Esq., 55th Regiment, of a dau On the ' 24th of August, at Caonby -0 0 .11 lady of J. Golden, Esq., of a daughter. _ A von? lito On the 25th of August, at Newbold -on •‘• _,• a son• shire, the wife of the Rev. Edward Smythies, 0' guth,hteer.l.3lY:s:re, t De r;i ." On the 27th of Pembroke-square Ke MARRIED. . flenr3 l August, at Leamington, ~,r OW . of B. M. Rb ' ' 1"-- . ' ' L2:____--------------- $, Robert_, erts, Es of 'Tao- , e 3 - —ington, to Anua,Y clunb- „,-, J,ovra L i .oo DIED. On the 24th of August, at Paisley, ;5• 13 - , Car DIED. s - On the 26th of August, at Ilminster, Liar daughter of the Rev. John Allen. Pre London: Printed. and Published by 'AWED° d. 0 6 or strand, Printer, at The Su n Office, No. 112. 5.,,.tr5x13400414'.. of the Savoy, in the County Of gitloo°.".7 .‘ 31, 1846. ,'~l ~ ai oz 411 At. • di 01 - • till t r eason s. Comraitee n ' carried bli d bc niaw na il is c o t Vides, Os ial e seee se x :11 t rains , o railitai 1 ti i and poli ce '' t dispr 3por # ~, b l e in the sera . ice to i tt ,