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And so it was, as the time passed, that on occasion his red motor-car carried, in addition to the daily cash, the most gilt-edged securities he possessed; namely, the Ferry Company, United Water and Consolidated Railways. But he did this reluctantly, fighting inch by inch. As he told the president of the Merchants San Antonio who made the plea of carrying so many others: "They're small fry.
All investments of capital which are from their nature permanent, require time for the development of their effects, and may, as regards many of their immediate results, prove rather injurious than beneficial. To this class of speculations railways belong.
This question of transport is at present regarded as a burning one throughout the Continent; and for the well-being of certain parts of the West Coast railways are essential, such as at Lagos, and on the Gold Coast. Of Lagos I do not pretend to speak. I have never been ashore there.
Last year only three hundred and eighty-seven miles of line were built in India as against our six thousand, and even my friend, William Fowler, M.P., in his most interesting article in the Fortnightly Review for February, 1884, "India, Her Wheat, and Her Railways," to which I beg to refer such of my readers as are specially interested in this subject even he only suggests that twelve hundred miles should be built every year in India; to secure which he urges the government to give a guarantee upon $50,000,000 per year, in order to obtain the necessary capital, which he admits cannot be obtained otherwise.
Unconnected with any of these railways, a French line ran from Jaffa to Jerusalem; this also the Turks removed, as between Jaffa and Ludd, while, for the remainder of its length, they altered the gauge so as to adapt it to the rolling stock of the Hejaz Railway.
By the coinage, the post-office, the railways, the administration of justice, the encouragement of education, the relief of famine, by such ways the great organisation has penetrated everywhere, in spite of faults, the greatest blessing that has come to India in her long history.
Now New York has found that it has very convenient to it a great mountain pleasure-ground; railways and excellent roads have pierced it, the varied beauties of rocks, ravines, and charming retreats are revealed, excellent hotels capable of entertaining a thousand guests are planted on heights and slopes commanding mountain as well as lowland prospects, great and small boarding-houses cluster in the high valleys and on the hillsides, and cottages more thickly every year dot the wild region.
It is a great satisfaction to us that in 'The Minister's Wooing' she has chosen her time and laid her scene amid New England habits and traditions. There is no other writer who is so capable of perpetuating for us, in a work of art, a style of thought and manners which railways and newspapers will soon render as palæozoic as the mastodon or the megalosaurians.
Another strike was imminent in the factories at Manitou and in the railway-shops at Lebanon, due to the stupidity of the policy of Ingolby's successor as to the railways and other financial and manufacturing interests. If he had planned a campaign of maladroitness he could not have more happily fulfilled his object.
India possesses to-day assets in the shape of railways, irrigation canals, and other public works which, as marketable properties, represent more than her total indebtedness, without even taking into account the enormous value of the "unearned increment" they have produced for the benefit of the people of India.
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