Financial.
The estimated cost of the barrage complete is £3,658,000, including compensations and other contingencies. A toll of ¾d. per ton on the shipping passing up and down will pay the interest on this sum. This ¾d. per ton additional toll will, it is estimated, be many times compensated for by reductions in the river and dock dues and other expenses, as below:—
| Savings Effected by Dockisation. | Per Annum. |
|---|---|
| £ | |
| Dredging in the river | 200,000 |
| Repairing banks, campsheds and groynes | 10,100 |
| Mudding in all docks | 50,000 |
| Cost of operating dock entrances and pumping | 70,000 |
| Saving in time of vessels ascending and descending the river | 225,000 |
| Saving in towage | 20,000 |
| ” barging | 185,000 |
| ” warping, buoying, lying off, etc. | 20,000 |
| ” management of river | 70,000 |
| Total annual saving | £850,100 |
This is equal to a reduction of 6·8d. per ton on the tonnage of shipping (30,000,000) entering and leaving the Port, or equal to 7½ times the interest on the cost of the barrage.
To the credit of the barrage must also be set the removal from the prospective future of enormous outlays contemplated for:—
| £ | |
|---|---|
| Purchasing docks, estimated at | 30,000,000 |
| Improving ditto and dredging river | 7,000,000 |
| Cost of a water supply from Wales or other source | 24,000,000 |
| Total | £61,000,000 |
The Port of London Bill, 1903.
This measure is the Government’s attempt to put into law the recommendations of the Royal Commission on the Port of London, 1902, but with amendments. It is proposed to purchase the entire docks and warehouses, leaving the wharves to run on their own resources; to create a Port Trust to control the entire river and docks; to charge the loan for purchase, etc., upon the London County Council—i.e., about £35,000,000: and to dredge the river to about 30 ft. at low water up to the principal dock entrances.
Dredging the River.
Apart from its cost and the grossly unfair policy of financing and running the docks against the wharfingers, it is evident that this scheme is based upon the possibility of dredging the river to the depth required. [Fig. 8] is an actual section of the river, showing the proposed dredged channel as compared with a dockised river.