as human life in their keeping becomes secure. The high roads of England became more travelled over as the robbers that infested them fell into the hands of justice; and it is a matter of small importance to a person contemplating a journey whether he have to fear falling a prey to the assassin's knife, or losing his life from the collision of two railway trains. The possibility of either would equally prevent the timid from travelling, and the courageous from travelling more than necessity required.

To render the railway system perfectly secure is, then, the first object, and to this end should those who have its prosperity at heart look well. Humanity dictates it, and interest prompts it; and what greater inducements, we would ask, need be urged?

Perhaps the next point, after having arrived at that degree of security required to satisfy the public, is to obtain that system of working which is the most economical. A large portion of the British commercial public have, with that enterprise which characterizes all their actions, embarked large sums of money in establishing railway communications between most of the principal towns in the kingdom. They saw the advantages that were certain to result from such an improved communication, but they did not know, indeed it would have been too much to have expected from them, the expense of making and maintaining this communication. They only knew what their engineers told them.

Their engineers' estimates in most cases were considerably less than was found necessary for the work, and this, added to the increased annual expense of working (above that originally contemplated when most of the present lines were projected), has placed these undertakings in a very questionable light as commercial speculations and permanent investments. If we show this to be the present position of most railways, which we intend doing by reference to their own accounts, we wish it to be understood that we do not from this circumstance draw a conclusion that they cannot be made a lucrative investment. On the contrary, we are of opinion that they can we think it has been clearly shown that all their difficulties have arisen and are perpetuated by the use of an improper system of working. So long as the locomotive system is adhered to, a strict economy may in a small degree lessen the expenses, but no material improvement can be hoped or obtained. To strike at the root of the evil, the system must be abolished; any thing short of this will not be productive of benefits on a sufficiently extensive scale to enable railways to maintain their present position, and yield a return for the millions they have cost. A better instance of this fact can scarcely be needed than an inspection of the receipts and expenditure of those railways already in operation. From the official weekly returns in the " Railway Times," we perceive seventeen railways are in operation the

wicie of their length, and cut of the whole number only three are earning suficient to pay their subscribers more than commca interest for their money. Of the remaining fourteen, ir are not taking as much for their grow receipts as the interest of their capital embarked, independent of working expenses; and the receipts on the remaining eight, after deducting the working expenses, do not leave £5 per cent. dividend for their sub

scribers.

Fifty millions sterling have been embarked in railway speculations, and seventeen lines have come into full working activity, of which number only three can show a return beyond common interest to the subscribers: it well behoves capitalists to ascertain the cause of their disappointments, and to seek to recover some of the golden harvests they were led to expect, and which have melted away before their eyes like ice in the rays of the sun. Any thing short of perfect indifference to their own interest will force on them the conclusion that they must investigate and judge for themselves; that they must no longer shut out the idea of improving, and listen only to the counsel and advice of those at present in their confidence, whose interests are served by maintaining things as they now are, and by clinging to preconceptions and prejudices as part and parcel of their existence. When looking over the half-yearly accounts of a railway worked by locomotive power, common sense and observation

cannot fail to lead to the conclusion, that a very large portion of what would be profits is absorbed by the nature of the power applied; but although a cursory notice of the accounts would prompt this conclusion, few would imagine, without giving the matter very close attention, how great this portion is. Some idea of it may be drawn from the following facts. Each train on railways is drawn by an engine, the average weight of which is 20 tons; therefore 20 tons carried with each train is perfectly useless. On the London and Birmingham Railway the lowest charge for goods is £2 per ton for the whole 112 miles. Supposing, for the sake of argument, the expense of maintaining and working the locomotive department to remain unaltered, but the engines to weigh nothing; it is clear that the Company would be able to transport 20 tons more with each train for the same cost, or fifteen tons of profitable merchandise, after deducting one-fourth for the waggons, which at £2 per ton would add to their revenue £30 per journey, or, with their present number of trains, (12 each way daily)-£306,000 a year. No doubt this fact will take many railway proprietors by surprise, who by a natural course of reasoning will immediately seek to discover by what means so large an amount, at present wasted, can be made to find its way into their pockets. The means are obvious: the waste is occasioned by transporting useless weight; remove the useless weight, and the objection ceases of itself. Before

the introduction of the atmospheric system, it was hopeless, by any known mechanical means, to effect this; every previous application of power carried considerable useless weight with it. The atmospheric is entirely free from this objection; and it was mainly from a knowledge of the benefits that must result from this source that we have laboured so incessantly (and happily with such success) to mature, and bring it before the public, for their consideration and approbation.

Such would be the effect of dismissing only the useless weight; but add to this the other advantage possessed by the atmospheric system, and the London and Birmingham Railway (notwithstanding its present large capital sunk) would be enabled to carry passengers at 5s. each, and goods at 6s. 3d. per ton, the whole 112 miles, and share the same dividend as now.

The calculations from which this statement is adduced are shown as follows; viz.*

* This estimate of traffic is of course much greater than at present exists on the line, but considerably less than the reduced prices would produce: it is scarcely necessary to add, that at these rates any extent of traffic could be obtained in coals and iron alone, as it is less than a sea-borne freight from the north.