. Legislative regulation of railway finance in England . before lords committee 1864, p. 33. ._ . 5* U l*a. /(,/ no one had any adequate means of ascertaining whether or not thelimit had been exceeded or the requisite conditions had been ful-filled. Therefore, it was recognized that the difficulty was alegal one and not an economic one, in that the earning powers of therailways, on the whole, were such as to make a mortgage on railwayundertakings one of the very best securities. Toward removingthis difficulty, the agitation as well as the laws adopted during thesixties for the registration of
. Legislative regulation of railway finance in England . before lords committee 1864, p. 33. ._ . 5* U l*a. /(,/ no one had any adequate means of ascertaining whether or not thelimit had been exceeded or the requisite conditions had been ful-filled. Therefore, it was recognized that the difficulty was alegal one and not an economic one, in that the earning powers of therailways, on the whole, were such as to make a mortgage on railwayundertakings one of the very best securities. Toward removingthis difficulty, the agitation as well as the laws adopted during thesixties for the registration of railway securities seem to have donemuch. Mr. Economist, May 2, , October 20, 1866. also Eansard, *,j^ 1303<
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