They offer, on condition of their Worcester scheme being sanctioned, at once to meet the objections of monopoly, by inserting in their Act the following provisions:
1. The whole of the Railways under their control, including the existing London and Birmingham Railway, to become subject to the options of revision and purchase contained in the Act of last year: the option of revision, however, at 10 per cent. to accrue at an earlier period than that of 20 years, specified in the Act.
2. A revised tariff to be framed for the whole of the said Railways, including the London and Birmingham Railway, upon the principle of fixing maximum rates for passengers and goods lower than those at present charged, and at as low a level as those charged upon any of the principal Northern Railways.
3. One article of such tariff to be, that coals and iron are to be carried at rates not exceeding 1d. per ton per mile, including toll and locomotive power.
4. All differences with other Railway Companies, by which the public safety or convenience are affected, to be referred to the Board of Trade, or other competent authority for that purpose established by Parliament.
6. The London and Birmingham Company to pledge the whole revenue of their existing line for the completion of the proposed undertaking within a reasonable time.
It appears to us that these guarantees hold out for the Public a prospect of permanent and certain advantage greatly beyond anything that could be expected from the competition of two great Companies, who would be urged by every motive of interest to combine.
We attach the greatest importance to the security obtained for the cheap transit of coals and minerals. Not only will a great benefit be thereby, as we believe, secured for the important mineral districts of Staffordshire and the Midland Counties, but also a still more important benefit for the poorer and
industrious classes, and for the consumers of coals generally throughout the Southern and Western Counties, and in the Metropolis.
The charge of conveyance of coals by Railway from South Staffordshire or Derbyshire to London will not exceed 11s. or 12s. per ton, and it has been stated to us, that, after payment of all charges, good house coals could be sold here, with a profit, at prices not exceeding 20s. per ton.