The Future of Our Railways (Classic Reprint)

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Excerpt from The Future of Our Railways With the return of the railways on March 1st, the owners were confronted with general conditions never paralleled in history. The present gross income is insufficient to make any reasonable return on the capital invested, after meeting the greatly increased demands of labor. No funds are available to buy needed locomotives and cars, the government having failed to make such purchases during its period of control. The borrowing fund made available by the government may serve to dull the edge of immediate needs, but makes no provision for the future growth of traffic which in the past has doubled about every twelve years. Even assuming that a receptive market can be created for railway securities, private ownership can work no miracle where a government with unlimited funds has failed, if the rehabilitation of our railways is to be patterned after the same old lines. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This 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.