512 



Light Railways in Germany. 



markets abroad for industrial produce. It is now, however, 

 understood that the claims of agriculture will receive full 

 recognition when these treaties undergo revision in 1904. 



Light Railways in Germany. 



In contradistinction to the broad-gauge railways, which 

 now almost entirely belong to the State, the light railways 

 in Germany have always been, and remain, private enter- 

 prises, strongly supported by the- agricultural party. In 

 1887-8 there were in the country 436 miles of such lines, 

 with an expended capital of ^{^1,805,300 ; and by 1896-7 this 

 length h^ld been increased to 818 miles, with a capital of 

 ^3,823,050. In the latter year the gross receipts were 

 ;ig362,2 50, and the expenses ^^243,1 50, leaving an excess of 

 earnings over expenditure of ^iig,ioo, or a yield of 3.10 

 per cent, on the invested capital. Their rolling stock con- 

 sisted of 284 engines, 747 passenger carriages, and 6,325 

 goods waggons. The number of " person-miles " conveyed 

 in 1896-7 was 62,0^2,000, and of "ton-miles" of goods 

 37,398,000. 



The light railways of Prussia are regulated by a law 

 of July 28, 1892, which has in view^ the special 

 object of attracting- private capital to this useful agricul- 

 tural undertaking. This has, of course, only taken place 

 in such districts as afforded promise of a fair return on 

 the money invested, which was not the case with lines 

 started merely with the object of developing the adjoin- 

 ing lands. In the latter instance it was clear from the 

 beginning that it was only possible to build such lines with 

 certain help, hence the power given to the provinces to 

 allocate part of their revenue to the furtherance of such rail- 

 ways. Although some provinces, such as Hanover and 

 Westphalia, at once made extensive use of this power, it was 

 not much employed elsewhere until State aid was actually 

 given . 



Under the Prussian laws it was expected that the railways 

 would be built solely by private capital, and with pecuniary 



