The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-11-22

The amount Of traffic for week on ITO miles Of
railway this year. f225 COL of which fJa 400 vara
for the conveyance OF passengers only fas $50 for
suportaton of goods and the remainder EST $40 for
myers and COOS together Last year the amount
of traffic on 1926 miles, was f2l4 273, being but
fll,523 less than for the same week this wear
on S14 miles of road less than were in operation
last year. This shows average earning per
mile in 1s47, Of f6j, and in 1S4S, of f55 This is
Gear Illus ration Of the steady decline in the earnings
of railroads in England, and nothing arrest it.
The increase OF roads is likely to be much more rapid
than the increase OF travel freight and the CONNIE
tition which must arise WILL sooner later bankrupt
many con panies which are nov moderately produce
tive. The cost of the lines, completed and contem-
plated, will amount to nearly half of the public
debt Of Great Britain and the immense required
to pay even the current expenses of such works man.
aged, as they are without much regard to economy
to gay nothing about dividends is enough to destroy
the confidence Of stockholders, and induce them to
submit to large losses rath.r than hold at the de-
probation in prices which has reduced the aggregate
value to about one half their first cost the lines
now in operation may pay moderately but an in
in lines will even destroy this hope The inu
these works ave upon the business any coun
try In which they are located, is immense, and to a
safe extent should be encouraged but when they are
constructed beyond the means and resources of
the people, they exert a disastrous influence
upon the business of the country BY drain
ing capital from useful and legitimate employ.
ments, aud putting it into employments partially
tainted with population. The railway movements in
Great Britain have had this effect, and nearly every
interest in that country has suffered very much from
the restrictions placed upon them by the drain of
capital This evil has been experienced to slight ex
tent in this country but yet has not become gene
raj nough to do much harm. Within The past three
years have made great progress the extension of
railways; but the limited cost compared with those of
England, the greater economy Of management and
the favorable prospect for productvenes, the rapid
growth of the country make them desirable and
more profitable investments here than on the other
side of the Atlantic. England cannot expect to be
much greater than she is at present. but the con-
~, must rather look for steady decline in her re-
sources and means of wealth. Her population is al
ready greater than find sufficient food and rail
mept, and every increase must reduce the condition
of the better classes and restrict them all in many of
the luxuries now enjoyed As her external commerce
declines. her internal commerce must experience a
corresponding reduction, and her works Of internal
Improvement will find less employment and their
earnings consequently be less than what they are at
present Great Britain has new resource to be de-
veloped by the extension Of railways while the deve
opment Of our most important resources depends al
most entirely upon the construction of such rapid
means of communication. Fortunately for U.S. we have
not sufficient capital credit to rush headlong into
the building Of these works. they have in England
and shall therefore escape the losses and Difficult
ties which have been experienced abroad Several OF
our most important lines but partly completed,
and lingering along for the want Of means to ex-
tend and perfect Them but this is better than
the evils which have been brought upon thousands in
Great Britain, by pursuing an opposite course