. Cost, capitalization and estimated value of American railways; an analysis of current fallacies . had. Now, we have nearly 4,000 milesof railroad in actual daily operation in the United States, anda great deal more in the rest of the world. The materials ofexperience are therefore sufficiently abundant. The cost of79 railroads in the United States is given in the table publishedin the American Railroad Journal. The aggregate length ofthem is 3,723 miles, and the cost is $109,841,460; or $29, mile. In the Carolinas and Georgia, 785^ miles cost but $14,063,175,or $17,919 per mile; tho
. Cost, capitalization and estimated value of American railways; an analysis of current fallacies . had. Now, we have nearly 4,000 milesof railroad in actual daily operation in the United States, anda great deal more in the rest of the world. The materials ofexperience are therefore sufficiently abundant. The cost of79 railroads in the United States is given in the table publishedin the American Railroad Journal. The aggregate length ofthem is 3,723 miles, and the cost is $109,841,460; or $29, mile. In the Carolinas and Georgia, 785^ miles cost but $14,063,175,or $17,919 per mile; those of North Carolina and Georgia 5831miles long, cost $8,391,723; or $14, per mile; those ofGeorgia 337J miles, cost $5,231,723, or $15,489 per mile; theCentral Railroad in Georgia, 190J miles, cost $2,551,723; or$13, per mile; and that part of the Georgia Railroad of65 miles, which has been constructed of late years, is said tohave cost less than $12,000 per mile, including an edge rail;or, as commonly called, a T-rail. The residue of the railroads on the list, in the northern and. Baldwin Fast Passenger Engine, 1848 eastern states, amounting to 2,937^ miles in length, cost $95,-788,295; or $32, per mile. The reason of this difference of cost, in favor of the southern 69 states, is mainly in the abundance and cheapness of timber, theabsence of rock excavations, and the low cost of right of company applying for these charters was to fix and pub-lish its tolls noi: subject to change oftener than once a year,with a restriction that the annual profit should not exceed 25per cent. In those days legislators were only too glad topromise the railways the earth if investors could thereby betempted to furnish capital to provide much needed transporta-tion. Cost in the Fifties. By 1850 the mileage of American railways had risen to 9,021miles and their earnings were in the neighborhood of $4,000a mile. An estimate places their cost at this period at §272-000,000
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