THE WORLD ’S RAILWAYS.
Railways in practically all important countries in the world have suffered from severe decline. In many cases Governments have been compelled to make good the deficits of State-owned and operated railways, and it is in •strong contradistinction to such a situuiition that the four main-line- railways of Great Britain were able in 1930 to earn more than 31? per cent, of their capital. Whatever the shortcomings of the Railways Act in 1921, it is incontrovertible that the railway situation would have been far more serious today if the grouping provisions of that Act had not become law. The financial future of the main-line railways is allied with the future prosperity of British trade, and only the passage of time and the return of trade activity
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Hokitika Guardian, 29 October 1931, Page 2
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129THE WORLD’S RAILWAYS. Hokitika Guardian, 29 October 1931, Page 2
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