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The financial mismanagement of our railways has arisen from precisely the opposite cause to that which has made British railways cost from two to three times as much as they should have done. Their excess of cost was owing to their having too much money; ours to our having too little. They were robbed right and left for Parliamentary expenses, land-damages, etc.
Only twenty per cent. was to be paid down; no more, said the circular issued by the directors, might be required for years; perhaps there would never be any further call: but that would depend very materially on how generously the farmers through whose lands the road would pass should give up claims for land-damages.
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