EXTENT OF KAIL WAYS. 



1838, the United States mails circulated over a length of way 

 amounting on the whole to 136218 miles, of which two-thirds 

 were land transport, including railways as well as common roads. 

 Of the latter there must have been ahout 80000 miles in operation, 

 of which, however, a considerable portion was bridle-roads. The 

 piice of transport in the stage coaches was, upon an average, 

 3-25d. per passenger per mile, the average price by railway being 

 about l'47c. per mile. 



From what has been stated above, it will be apparent that the 

 true cause of the vast extension of railways in the United States is 

 the immense economy and speed of transport upon them compared 

 with transport on common roads. 



9. Of the entire extent of railway constructed in the United 

 States, by far the greater portion, as has been already explained, 

 consists of single lines, constructed in a light and cheap manner, 

 which in England would be regarded as merely serving temporary 

 purposes : while, on the contrary, the entire extent of the English 

 system consists, not only of double lines, but of railways con- 

 structed in the most solid, permanent and expensive manner, 

 adapted to the purposes of an immense traffic. If a comparison 

 were to be instituted at all between the two systems, its basis ought 

 to be the capital expended, and the traffic served by them, in 

 which case the result would be somewhat different from that 

 obtained by the mere consideration of the length of the lines. It 

 is not, however, the same in reference to the canals, in which it 

 must be admitted that America far exceeds all other countries in 

 proportion to her population. 



10. The American railways have been generally constructed 

 by joint-stock companies, which, however, the State controls 

 much more stringently than in England. In some cases a major 

 limit to the dividends is imposed by the statute of incorporation, 

 in some the dividends are allowed to augment, but when they 

 exceed a certain limit the surplus is divided with the State ; in 

 some the privilege granted to the companies is only for a limited 

 period, in some a sort of periodical revision and restriction of 

 the tariff is reserved to the State. Nothing can be more simple, 

 expeditious, and cheap than the means of obtaining an act for 

 the establishment of a railway company in America. A public 

 meeting is held at which the project is discussed and adopted, a 

 deputation is appointed to apply to the Legislature, which grants 

 the Act without expense, delay, or official difficulty. The prin- 

 ciple of competition is not brought into play as in France, nor is 

 there any investigation as to the expediency of the project with 

 reference to future profit or loss, as in England. No other 

 guarantee or security is required from the company than the 



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