But it is not with such miserable apologies for railways that we have to
deal. It is on our really valuable roads, like the main lines in
Massachusetts and New York, that we shall show that the evils of imperfect
construction are felt, and will be felt, until a thorough reconstruction
has taken place. It was observed some time ago that the returns of the
Massachusetts railways for 1856 showed that there were 1,325 miles open,
costing on an average $46,480 per mile, or $61,611,721 in all. The receipts
per mile of road were $7,217, the expenses $4,260, leaving a net earning of
$2,957, or 40 per cent. of the whole. This was equal to 6.42 per cent. on
the whole cost of the railways.
For the same year the returns of all the railways in Great Britain showed
that there were 8,502 miles open, costing $173,040 per mile, or
$1,506,826,363 in all; and that the receipts per mile of road were $13,296,
the expenses $6,249, leaving a net earning of $7,047, or 53 per cent of the
whole. This was equal to a dividend of 3.97 per cent. on the whole
cost. These figures showed, that, however extravagantly the British
railways had been built, they certainly were worked more economically than
our own.
At first view it might be thought that the economy was due to their greater
business; but further inquiry showed, that, from the better shape of
American cars, and from the wants of the public requiring fewer trains, the
actual receipts per mile run of Massachusetts trains were $1.
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