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ON GQVERN.lfEA\'T COA'TROL OF TELEGRAPHS, ETC. 289
of Government interference and patronage, as being not so
much in itself undesirable, 9s likely to lead fa a greater and
more hazardous enterprise-the purchase and reorganisation
of the railways.
It is well known that opinions have bceu freely expressed
and discussed in favour of estcndirlg Goverumeut management
to the whole railway property of the Uuited Kingdom. I
should not like to say that this should never bo done, R I ~
there are doubtless anomalies and I~nrdrhi~)~ in tho presmlt
state of ous railway system, which deu~~~ncl legislaitire rorncdy.
But,, after studying Mr. Gtilt's work on railway rcforln and
attending to much t.hat has been current on the subject, I tit11
yet inclined to thiuk that the actual working of our rdw.uys
by a Government dcpartrncnt is altogether out of the quostion,
while our English Government service ren~ui~~s what it is.
The advantages which might be derived from n singlo
united administration of all the railways are doubtless soulowhat
analogous to those we derive from the Post Office, but in most
other respects tlle analogy fails completely and futallp. ICailway
traEc cannot LC managed by pure routine like that of tho
mails. It is fluctuat,ing and uuecrttliu, dependent upon tho
seasons of the Scar, the demands oE the locality, or cve~lts of
nn accideutal charnctcr. Itlcesuallt wvatchfuluess, alacrity, and
freedom from ofticia1 routine are required on tho part of II
traffic manogel; who shall always be ready to meet tho public
wants.
The moment me consider the vast capital conccrned in
railways, and the intricacy of the mechanism and arrangolnents
required to conduct the traffic, we must see the danger of
management by a departmeut of the Euglish Govcrument.
The paid-up capital of the railways of the United Kingdom,
including the outstanding debenture loans, amounted in 1865
to E455,478,143; whereas the current working expenses of
the year were only 817,149,0'73, or 33 per ccnt. of the capital
cost. More than half the receipts, or 52 per cent., go to pay
a very moderate dividend of about 4$ per cent. (4.46 per oent.
in 1865) on the enormous capita1 involved. The railways 8~3
altogether contrary in condition then to the Post Offico, where
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