, 1860-11-22
The Ruin OF the Grand Trunk Rail-
Wnys
lErom the London Tfmeal

=
The ruin Of the GRIND Trunk Railway Com
pany has, however, other aspects besides it,
unfortunate connection with royalty. A vast
amount OF capital In this country has been in
this undertaking, and ita present prospects
carry dtstress and anxiety 10 many a house
hold. Unfortunately, we are not even able to
ascertain the exact particulars Of the case,
The liabilities Of the Company In England are
estimated at about E2,0l8;0O0 What they are
in Canada We do not know, and there sectns TO
be no hurry in furnishing the information. Il
seems only too plain thnt the revenue derived
from the working Of the line falls ialnentab1y
short Of the charges which it has to meet. and
the only remedy which is cven suggested by
the English Directors is another application to
tho Canadian Parliament for fresh assistance to
the undertaking. Restricting ourselves, then,
to the maiu facts Of the obvious insolvency OF
the concern, VIC may inquire what it is that has
brought down ruin on n speculation introduced
by the highest commercial authorities in the
city Of London, vigorously supported by the
local Parliament, connected at tlis moment In
every possible way with several Of the lending
members Of the Canadian Government, and
combining apparently to an unpracticcd ere
all re elements Of the most perfect security
cult TO sec tho causes which led to this fnilure.
IN the frat place, during the SIX or seyeu
months from May to November or December.
during which the navigation Of tho st. Law.
renee is open, the railway has to compete with
tue finest and cheapest water communication
in the world, Al the difficulties Of which have
been removed By the magnificent woska of the
Rideau and Welland Canals. Canada is ~ vet
thinlT pcopled country, and one the princI-
pal exports Of which consist Of very bulky n.
1lcles, such ns corn and timber.
This was alone an almost fnsuperablo diff
Guilty, but this difficulty would have been much
diminished, had the line been carried fnlnnd-
where it would have opened up new country
On both Sides Of 1t, instead Of skittinc, o. Il
docs, the very edge Of the water, 80 that the
tam and the steamer may run for hundreds OF
miles in sight Of each other Again. Quebec
and Montreal are situated both On the north
s1dc Of The st: Lawrence, while the railway
that connects them ID carried through a wild
forest on tho southern side. The result il that
from Quebec to the railway, passengers must
pass over the Ice In winter, while Montreal il
connected with the line BY gigantic bridge
iwo miles long, which has cost the Company
two millions, Or one-sixth Of the whole capital
Of tlle undertaking. Then for the six winter
months the severe climate Of Canada over
whelms the line with such masses Of snow that
It is only at great expense and difficulty that It
c1ii be kept open at all. Another Obstacle tn
prosperity has been that It can be kept open It
AL Another obstacle to prosperity has been
tlnt, though the trunk Is In Canadian soil, its
roots, It We may use the metaphor, strike fist
into the United States. During the winter
months there is no outlet for traffic through
British territory, md the passengers aud mo-
duce OF Canada arc shipped and isnshippea At
Portland, In the State Of Maine. The line Is
made on me broad guagc, after the pattern Of !!
&he Great Hestern-a very needless expense, If |
We look to the amount of traffic. Add TO iii.
that, considered as road to the West, the line |
has had to undergo tho competition OF two |
powerful American rnilways, the Erie and New |
York Central, to which, perhaps, We ought to |
2dd n the kailways leading to the West from |
advantage which the Grand Trunk posscsses is |
the shorter voyage from England to the St. |
Lawrence, and thfs advantagefs Is lost to it, as |
we have shown, during eix months Of the wear. !
Some Of the drawbacks that We have mention /
cd are Inherent IN The very nature OF the ca,e:
others have obviously been caused BY misman.