. Legislative regulation of railway finance in England . rm date should he adopted toclose the financial year of all the companies, instead of permit-ting each company to adopt its individual date. Furthermore, this committee tool: great pains i in prepar-ing a set of forms for financial accounts and. returns, with theaim. of meeting the changed circumstances. Special effort was madeto exclude from the financial statements all matters of a purelystatistical nature, thus making a strict division between thefinancial and statistical parts of the returns which does not ex-ist in the existing stat
. Legislative regulation of railway finance in England . rm date should he adopted toclose the financial year of all the companies, instead of permit-ting each company to adopt its individual date. Furthermore, this committee tool: great pains i in prepar-ing a set of forms for financial accounts and. returns, with theaim. of meeting the changed circumstances. Special effort was madeto exclude from the financial statements all matters of a purelystatistical nature, thus making a strict division between thefinancial and statistical parts of the returns which does not ex-ist in the existing statutory forms. A personal letter from the Board of Trade dated December 91910, informs us that a Bill was recently introduced into the Houseof Commons to give general effect to the recommendations made in 1. For this and other recommendations of this departmental committee, see its report, pp. 1-6. 2. TTiose interested in railway accounting will find their time well spent in examining the forms which are to be found inappendix I of the committees the report of this departmental committee, but was withdrawn in consequence of the dissolution of Parliament which was then pending. Prom the foregoing, we have seen that England endeavored to regulate the accounts of railways, to some extend from the beginning, but it might be said with substantial truth that prior to 1868, the companies were free to keep their accounts in their own way. The panic of 1867 and other events led Parliament to adopt a definite and uniform, as well as quite a useful system of accounts twenty years before the united States attempted to regulate however, railway accounting in any definite way. England,,made no furtherprogress after her splendid start; and hence to-day she seems tohave fallen behind the XTnited States in this respect of railwayregulation.
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