See the observation of M. Leon Say as to the tendency to reduce railway tariffs to an unremunerative point when the State is the owner.—Le Rachat des Chemins de Fer, Journal des Economistes, 1881, p. 343.
[ [54] Note.—The figures relating to the capital, revenue and working expenses of the German Railways have been taken from the “Statistische Nachrichten von den Eisenbahnen des Vereins Deutscher Eisenbahn-Verwaltungen,” which differ in some respects from those contained in statements obtained after going to press from the Department of the German State Railways; the latter giving the revenue for the working year 1884-5 as £50,735,165, the expenses as £29,057,889, or 57·27 per cent. of the receipts. The balance would yield a return of 4·51 per cent.
[ [55] For further particulars see Appendix III.
[ [56] For particulars see Appendix III.
[ [57] In Germany and France the law as regards liability is practically the same as in this country.
[ [58] Including 90 miles on German and Belgian Frontier.
[ [59] The mixed train mileage introduces a disturbing element, but the calculations have been made as accurately as possible.
[ [60] See page 5 of Sir B. Samuelson’s report. It is not known to what the observation as to charges to capital can refer. The larger (if not all) companies in this country charge to revenue portions of the cost of improvements to stations, sidings, &c., which might strictly be charged to capital. In the published returns of the working of German railways, there is nothing to show to what extent, if any, the cost of new works is charged to capital.
[ [61] The number of passengers, or tons of goods are not reliable for the purpose of comparison, inasmuch as a passenger or a ton of goods carried over two railways appears as two passengers or two tons, and therefore after various lines are amalgamated, the returns may show an apparent decrease when in fact there may have been an actual increase in traffic.
[ [62] It is assumed that some receipts for cattle traffic are included in this item.