RAILWAY COMPARISONS

New Zealand Mail, Issue 1756, 1 November 1905, Page 65

RAILWAY COMPARISONS

There was in the House of Representatives last night much comparing of the railways of this country with those of New South Wales. Sir William Russell, upon whom the railways of this country have much the same effect as the head of King Charles hadi upon a certain famous character of fiction, made the most comprehensively doleful of all the speeches on the subject. Mileage, ratio of expenditure to revenue, interest on cost of construction —on all these points he proclaimed! the inferiority of New Zealand; and the incidental book-keeping came in for the customary slap, together with the shrinkage of revenue. It is, of course, well understood, that the slight shrinkage last year was exceptional, due to the temporary falling-off in the sheep export, and the lateness of the season. This ought to be remembered in all comparisons with the outside world. It was urged, in reply to criticisms, that the railways of New South Wales are complete, and have reached their full earning capacity ; while ours are in the development stage, running into large tracts of unsettled country, with revenues largely deferred. All this is well enough as a reply, but it is fa* from enough. The main difference between the two railway systems was ignored by both sides to the controversy. That difference is one of nolicy. Here, with the unanimous consent of the House, the net profit of the railways is kept down to i per cent. In New, South Wales they make all they earn. Hence, in the matters of revenue, net orofit. expenditure ratio, and the whole of the financial data, comparison between the two ivy stems is misleading. That members of Parliament should resort to it in spite of their ready acceptance of the 3 per cent, limit is incomprehensible. Our railways are doing very well, and no unfair comparison can hurt them.