Lectures on Indian Railway Economics

The inerea. ged valueof laud, the to to this cultivators by greater sale of their products, and consequent gain to the merchants, and the inerensed land revenue to the Govern- ment all come through limilways; and, furthers in caleula- tingthebenefitg, which accrue owing to coming of Railways the difference between the price actually paid by the consumers and the price which they would have had to p [...] the time of pirchat,e pri:miLims; to the extent of to 15 per eent, over and above the pAr iodize of the 1-thare,:. [...] The position of the Government with respect to these companies Wa that the Government VMS the owner and lessor of the lines and the companies were the working agents ur lessees. [...] To use the words of the limilway Board, " It wonld not however he convenient for the general revanne to provide the arrears at the present time or to forego all revenue from the Railways until these arrears have been paid klp . in full, while, on the other hand, the Raihveor Administration have little to gain from the immediate payment in one lump sum of the move which will only be required and ca [...] But it was admitted that state ownership of Indian involved the imposition of eertain restraints because or the relation in which the Railways stood to the public finances, to the Legislature, to the other branches or the administration, and to the Secretary of State.