The life of George Stephenson, railway engineer - Lighthouse ...

198 LIFE OF GEOEGE STEPHENSON. [chap, xviii.
found the works of the Stockton line in full progress, though
still unfinished. Proceeding next to Killingworth with Mr.
Stephenson, they there witnessed the performances of his loco-
motive engines. The result of their visit was, on the whole, so
satisfactory, that on their report being delivered to the com-
mittee at Liverpool, it was finally determined to form a company
of proprietors for the construction of a double line of railway
between Liverpool and Manchester.
The first prospectus of the scheme was dated the 29th of Oc-
tober, 1824, and bad attached to it the names of the leading
merchants of Liverpool,—amongst them those of Gladstone,
Lawrence, Ewart, Ellis, Moss, Cropper, and other well-known
men, representatives of the wealth, the enterprise, and the energy
of that great seaport. Nor were the manufacturers of Manchester
behind the merchants and bankers of Liverpool in signifying
their adhesion to the measure ;
for amongst the first subscribers
we find the influential names of Birley, Potter, Sharpe, and
Garnett, of that town. Mr. Charles Lawrence, mayor of Liver-
pool, was appointed chairman of the provisional committee.
The prospectus was a carefully prepared document, very un-
like the inflated balloons which were sent up by railway specu-
lators in succeeding years. It set forth as its main object the
establishment of a safe and cheap mode of transit for mer-
chandise, by which the conveyance of goods between the two
towns would be effected in four or five hours (instead of thirty-
six hours as by the canal), whilst the charges would be reduced
one third. On -looking at the prospectus now, it is curious to
note that, while the advantages anticipated from the carriage of
merchandise were strongly insisted upon, the conveyance of pas-
sengers—which proved fo be the chief source of profit—was
only very cautiously referred to. " As a cheap and expeditious
means of conveyance for travellers," says the prospectus in con-
clusion, " the railway holds out the fair prospect of a public ac-
commodation, the magnitude and importance of which cannot be
immediately ascertained."
The estimated expense of forming the line was set down at
400,000^.,—a sum which was eventually found to be quite inad-
equate. A subscription list was opened, and speedily filled up.