Municipal Finance and Municipal Enterprise

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Excerpt from Municipal Finance and Municipal Enterprise: The Annual AddressThere are undertakings which require parliamentary sanction and legislative powers for their establishment and management. N 0 individual trader, no private company, can establish for him self or themselves the right to compulsorily acquire other people's property, or to use for their own advantage the roads and high ways, which belong to the public. This country has adopted in the United Kingdom the principle that the railways of the country should be provided by private capital, and conducted by private management under public control. In India and in some of the Colonies railways are either partially or altogether managed by the Government. In addition to railways Parliament has vested large powers in joint stock undertakings for the construo tion and management of waterworks, gasworks, and similar undertakings. The legislature has accompanied the grant of these powers with elaborate conditions, for public control for securing the public convenience, for guarding the public safety, and for enabling the public on certain terms and under certain conditions to compulsorily acquire these undertakings.So far as railways are concerned, I submit, that if the railways of this country are contrasted with what are called the State railways of many foreign countries, the contrast is favourable to the superiority of the management of our railway system. There may be some points on which State control results in a more economical mode of transport. But I am satisfied that no government department could manage the railway system of this country with the efficiency, the safety, and the speed which our great railway companies supply.About the PublisherForgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.comThis book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully, any imperfections that remain are intentionally left to preserve the state of such historical works.