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Updated: May 29, 2025
It's one thing to speculate and run gold mines that don't pay in British Columbia, but quite another to turn one's pet and most exclusive territory into 'a condemned, dividend-earning, low-caste, industrial settlement, by Gad, sir! Cut down the Green Mountain bluff, smoke out beast and bird, plant a workman's colony down in Carrington!
Nor was dividend-earning the sole standard of success to be applied. The Intercolonial was built originally for political and military ends, not merely for commercial gain. It had given shippers the lowest rates in the world: 'the surplus is in the pockets of the people, one of the political heads declared.
But a dividend-earning company, necessarily concerned first and last with dividend earning, and at the same time protected against foreign competition in the sale of its products, cannot be for the purpose in question well managed, being expressly enabled and encouraged to persist in out-of-date practices. This being so, the whole argument for protection of key industries goes by the board.
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