Railway Problems An Inquiry Into the Economic Conditions of Railway Working in

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) To raise loans on European markets, as in the cases of the Australian colonies, and the Cape of Good Hope. V These three principal modes of procedure have been varied, according to the special circumstances of each country or colony. In some cases, the Government has constructed a certain proportion of the mileage of a great trunk line, as in the case of the Canadian Pacific. 1 In other cases, the aid furnished by the State has been limited to land grants. In other cases, again, both Imperial... and municipal funds have been provided for the construction of railways of urgent necessity. As regards India, there are three systems of financing adopted — the first, that of the Bengal and North -We stern terms, whereby the rail- ways are constructed entirely by a private company ; the second, that of the Bengal Central terms, under which the State guarantees 4 per cent, on paid-up capital during construction ; and the third, that of the Southern Mahratta terms, which provide for the company receiving a guarantee of 3^ per cent.

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