. Legislative regulation of railway finance in England . pointed to inquire into the matter, but no legislation -Tookplace. But the restrictions imposed by Parliament, in 1837 andsubsequently on the obtaining of railway acts, temporarily arrested I speculation. In-1839 a select committee was again appointed to inquireinto the state of railway communication, as a result of whose I recommendations a general saving clause was inserted in the 2 Craydon railway bill. In 1840 another select committee was ap- 1. Quarterly Review, v. LXXIV, p. 239. 2. The saving clause inserted in the Croydon bill rea
. Legislative regulation of railway finance in England . pointed to inquire into the matter, but no legislation -Tookplace. But the restrictions imposed by Parliament, in 1837 andsubsequently on the obtaining of railway acts, temporarily arrested I speculation. In-1839 a select committee was again appointed to inquireinto the state of railway communication, as a result of whose I recommendations a general saving clause was inserted in the 2 Craydon railway bill. In 1840 another select committee was ap- 1. Quarterly Review, v. LXXIV, p. 239. 2. The saving clause inserted in the Croydon bill reads: And be it further enacted that nothing herein containedshall be deemed or construed to exempt the railway by this orthe said recited acts authorized to be made, from the pro-visions of any general act relating to railways which maypass during the present or any future session of , v. 47, pp. 682-684. Compare with a similarclause resolved by Parliament to be inserted in all railwaybills, since 1844, which appears in the next 1 pointed by the House of Commons to inquire into railway affairs. Although no general legislation took place, this committee seemed to have done considerable good in throwing light upon the nature 2 of railway transportation. Under this irregular system of legislation numbrcus char-ters were granted and liberal encouragements were sometimes givento the construction of railways. Then came that disastrous rail-way mania of 1844, and England awoke one Lay as Mr. C. F. Adams dramatically describes it, from dreams of boundless wealth to the 3 reality of general ruin. To see what could be done to improve the situation, aparliamentary committee was appointed early in 1844. It recommendedand Parliament resolved that the following saving clause, whichhad been once inserted in railways bills in 1839, should be uni-formly inserted in all railway bills passing through Parliament,namely: - And be it further enacted that nothing herein conta
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