The New York herald., 1845-11-05

General would produce upon the money mar
ket seems 10 be exhausted. II is dropped, at all
events. II may, however, be useful to make a few
further comments on one or two of the points which
have been chiefly dwet upon by those who have
expressed an opinion that the operation must pro-
duce financial embarrassment il has been assum-
ed by these parties that the aggregate amount OF the
payments 80 TO be made is $50 900 900. That is To
say, The basis assumed is that the subscribed capital
OF new railway schemes for next session is 1900
OOOOOO, on which amount deposit Of 10 per cent,
required by the standing orders, ESQ 600 900 This
estimate, we believe, includes all the projects that
were advertised up to d recent date-all that could
be supposed IN situation to lodge their plans and
sections within the time limited. II assumes, in
short that the great mass OF the schemes neounced
is brought out bona fds, and that the Promoters
will apply for acts next session AT the same time
II IS assumed that, although there amongst the
crowd of projects announced, some, nay many of
sound, substantial character, and pay there
is also mass of rubbish, that will never paw con-
cocted simply 10 delude the unwary, by schemine
adventurers, who never intend 10 move beyond the
initiatory process of advertisement, and pocketing
the money Of their dupes. Now, it is somewhat
inconsistent to take for granted that all the schemes
announced are sound to the extent of being good
for the preliminary deposits Of 10 cent, and in
the same breath to assert that there are a great
Still II Is possible that good money may have been
paid on al-on the bad as well as upon the good.
We believe that this has been done and in this
view OF the question, these deductions may have
economists, that, assuming the annual income OF
the nation-not of the state, but of the people-to
be as much as f3O0 ,000, ,000-and we do not con-
slider this to be exaggeraton-not more than
sixty seventy millions OF that amount can be put
down for accumulation, and of that balance not
more than onehalf, say EDO, ,000, 900, be spared
for railways. The coincidence Of these figures is
striking The aggregate subscribed capital said to
be required for the new schemes corresponds ex-
actly with the assumed amount OF the national year.
ly income, and the amount which it is SAID can be
spared yearly tor railways agrees with the sum
stated as the aggregate of the deposits to be paid
over to the Accountant-General. The coincl-
dence is no doubt accidental; but allowing that the
E3O,0O0 900 OF deposits will be made good to the
Accountant General, and invested in stocks and
Government securities to meet the decision Of Par
lament for against the various lines represented
by thatamount, it is plainly impossible if
not physically, impossiLle-that SO many as one
halt OF the new lines can be approved OF next ses-
sion, and authorised to construct their works.
When due allowance is made for the worthless
schemes-fOr those unsubstanial projects that are
said to be so numerous, and which will never be
brought under the notice OF the committee stand
ing Orders-and Tor amalgamatlons, and the refusal
to sanction many competing lines, it is, we should
say, much too liberal an estimate to assume even
that the subscribed capital Of railways that will OBJ
tain acts in the session of 1916 may amount to
El00 900, 600. In the session OF 1915 the members
worked very hard, and sat continually for series
of several months. 1t is not by any means likely
that they will be more laborious next session than
they were In the last, or that the session will be OF
greater length, but yet In the session o 1915 the
gregate subscribed capital for railways sanctioned
bv acts did not exceed, in round numbers about
42,0O0,00O Ii, indeed, the session OF 1916 should
give authority tor the construction OF railways to
much E50O00, 900, the members will have to
work like slaves. They may, to be sure, devise
means for bfdlng the loquacly Of counsel, and for
shortening the proceedings In railway committees
The amount OF subscribed capital IN certain national
lines, may also be so great as TO carry very large
sums along with them. 1t would be premature to
predict how far these circumstances may carry
the balance of Legislation, but comparing the pros
poets Of The next generally with that of the
past session, there do not appear good grounds foi
concluding that the labors OF parliament in 1916
bring forth much richer crop OF railway fruit thar
that OF Its predecessor Taking, however, the ag
gregae OF acts tor next year TO represent subscrib
ed capital OF twice much as was sanctioned ir
1916, EGO 900, 900, and adding the aggregate o
1915, or E42,O0OOOO there results total of fl32
OO0, 900 for English lines, which, divided pc
riod of five years, gives E26 900 the amount
which will be absorbed annually in their construc
ton tor that period of time. This does not appear
to he so very formidable, when contrasted with the
balance of ESQ ZOO 900 that the people supposed
t. be able to appropriate fofsuch purposes. Whether
In that estimate credit has been given for the annual
revenue drawn from railroads now In action, and
which Will soon approximate tSO00,O0O, does not
appear, but supposng that 1t has been taken into
count, the means seem adequate to the end 1t Is to
be kept in view also that the first years
already provided, by The supposltion that EDO 000,-
600 will be in the hands OF the accountant gene raj
by the 3Oth November to meet the parliamentary or
ders; and II is manifest that soon after parliament
meets large proportion OF this money must be re
paid the scriphoders, and that this source OF sup
plying the circulation will go on during the next ses
sion, until the decision OF parliament has been OBJ
tanned upon the whole. We write these remarks al
bearing with reference to lines proposed in the Un
ted Kingdom, making no allowance for the capita
required to construct the numerous lines proposed
abroad, IN the colonies, and IN lndla.-London
Chronicle.
RAILWAYS IN SwIrzERLAND.--T question o
railways Is very much discussed throughout the
whole OF Switzerland, but bears the same aspect at
many other questions IN this country. Opinions are
divided in thousand different ways, local interests
peva and no authority is powerful enough to guide
them alto one aim The Improvement OF the roads
and OF our most shocking post communication,
would be OF some service, but not railways; for dl-
vlded districts, with twenty-five independent GO
vernments Ill space OF 1000 square miles, are a
most difficult ground upon which to construct trunk
lines Two schemes have appeared here almost ST.
multaneously. Zurich is to have line to be called
the Swlss Northern" which Is to join either Basil
or the German line at Its terminus, and Basil is to
construct The Swiss Central, trunk line to Often
with branches to Zurich, Lucern, and the Bleensa.
Both plans have one object In common, VIZ, the
connection OF Basil and Zurich; this similarity has,
however, failed in uniting the two parties Basil Is
not concerned either In the direction or in the share
list OF the Swiss Northern, and Zurich will have
thing to say to the Swiss Central Some attempts
tOWdTOS union Oh the TWO ScneIneS on the part oil
the people were rather rudely negatiyed at Zurich
some months ago. Seven years ago, Zurich and
Basil attempted conjunctlvey to carry alne through
the valley OF the Llmmat, Aar, and Rhine. The at
tempt failed partly through the then poor condition
OF their finances, and through the sad experience of
the shareholders in the Elsass line, but still more
through the impossibllity of obtaining concession
OF the Basil land for a line which was only TO
traverse u small section OF that canton. This
objection drove Zunch, with its plan, from the
Swiss TO the German shores OF the Rhine. The
disadvantages OF this removal cannot remain un-
seen. II the Swiss Northern line is to be construct
ed on the lands OF Baden, the Rhine must be cross
ed, and forming the line Baden 1t must be con-
sidered that the toll of the German Union comes
between Basil and Zurich. The construction and
use OF the line rendered, therefore, rather diff
cult, at the same time the people IN Zurich them
selves must work TIE line that will enclrcle them,
for sooner or later line will be constructed to-
wards the Rhine, in the neighborhood OF the Bo-
deuse !; but much sooner when the line through the
valley OF kinzg shall appear impossible. The per-
mission, also, of the government OF Argan would
he owen xVIhoui great branch Would