MB. MIDGLEY S ARTICLE CONTINUED. 435 



subsidiary enterprises, dependent upon an -I incorporated 

 with the railways. The government, if it purchased the 

 railways, would be obliged to include these subsidiary con 

 nections. 



Government ownership would discourage further con 

 struction, as tending to diminish the public revenue, or 

 they might be made a charge upon the several States. In 

 any event, it would quench the spirit of enterprise on the 

 part of the individuals, which, exercised as at present, is our 

 best protection against monopoly. 



Financially considered, who could estimate the depressing 

 effect upon our national securities were the government to 

 enter the market annually as a borrower of say $100,000,000, 

 for the purchase of doubtful property? Viewed in this light, 

 the scheme does not promise well to the State, as a finan 

 cial transaction; and, we take it, there is no disposition 

 to cheapen transportation at the expense of the public 

 treasury. 



This subject has been thoroughly considered in England, 

 and the last Eoyal Commission appointed for that purpose 

 thus summed up their report : &quot; We are of opinion that it 

 is inexpedient, at present, to subvert the policy which has 

 hitherto been adopted of leaving the construction and man 

 agement of railways to the free enterprise of the people;&quot; 

 adding, in the case of Ireland, where are many unprofitable 

 lines, &quot; that, as the railway companies have the best oppor 

 tunities of judging whether rates can be reduced so as to be 

 remunerative within a reasonable time, they should be left 

 free to carry out such experiments at their own risk.&quot; 



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