British Economics in 1904

Cover British Economics in 1904
British Economics in 1904
W R William Ramage Lawson
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243 It will be observed with some surprise that where the American roads have got farthest ahead of our own is not, as might have been expected, in growth of business or in gross receipts. The latter gained during the decade 31 per cent in the United Kingdom as against 44 per cent in the United States — not a serious difference. Receipts per mile of line operated showed an identical increase of 19 per cent in both cases. On the older roads in the United States it ma}' have been much higher than... on our older roads, but the American average would be pulled down by large additions of new mileage. The chief growth of the American lines was in freight — namely, 54 per cent against our 40 per cent. But that is offset by an increase in our passenger business far exceeding the American — 40 per cent in the decade against 14 per cent. The most significant part of the comparison, however, is the increased train mileage. This was more than double on the British roads to what was found necessary on the American ones — 28 per cent compared with 13 per cent.

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