beneficial to the interests of the raihvay shareholders in the 

 long run. 



But, having said this, I am not sure that I am prepared 

 to agree with many of ray friends who would have the 

 Legislature intervene and fix the rates which the railway 

 companies should charge. I believe the best authorities 

 are of opinion that no mean is possible between allowing 

 railway companies or other private companies to conduct 

 their business in their own way, on the one hand, and 

 taking the whole concern over into State management on 

 the other. That is the alternative, and I do not think 

 many of us would prefer the latter. I think, therefore, 

 that in the long run we must be prepared to leave the 

 railways alone. But, having said this, I think it is our 

 interest to try to show the railway companies that the 

 policy which they are pursuing is one which, in respect 

 of themselves, is suicidal, and if they persist in pursuing 

 it, it is our interest to take care that they shall be 

 exposed to healthy competition, which shall insure the re- 

 consideration of their present tariff With respect to the 

 interests of the railway companies themselves, I should like 

 to ask the directors of the great lines, and especially the 

 directors of the Scotch lines, to consider the consequences 

 of the policy which they are pursuing. I have told you 

 that according to His Royal Highness the Duke of Edin- 

 burgh 216,000 tons of fish are taken in Scotland during 

 the year; of this in round numbers 100,000 tons are sent 

 abroad ; 60,000 tons are sent by railway to the inland 

 markets, and 56,000 tons are consumed at or near the 

 coasts. Now, I should like to know why it is that Scotch 

 fishermen send away ten tons of fish to the continent for 

 every six tons of fish which they send to the inland 

 markets. I believe the chief reason is the policy of the 



