(Epitomised from the Times)
One of the first manifestations of reviving confidence in commercial circles is usually the large number of schemes put forward for the construction of new railways and the ready subscription of the capital re-Jndged by tite standard, there is every fired to carry such schemes into effect.
reason to conclude that a real and permanent revival of industry is now in course of inauguration. There never probably was a time in the whole half century of railway annals when railway promoters were more active and fertile in their projects than they are at the present time.
At home, during the last Session, 52 of the railways of the United Kingdom promoted Bills for the construction of new lines, representing an aggregate expenditure of over £11,000,000, sterling. Itis probable that next Session will witness a still greater shval of railway bills, induced by the present cheapness of material, and the almost cer~ tain prospect of an enhanced cost in, the purchase of permanent way, stores, other and railway requisites.
In France it is estimated that the construction of 17,000 kilometres of new lines will involve an outlay of about 150,000,000 sterling, and it is proposed to distribute the work over a period of six years, Italy proposes to construct 3,177 kilometres of new lines, at a cost of 35,000,000 sterling, the whole to be finished within 16 years. This will add a full fourth to the existing Italian system, which is now of smaller extent than that of any other country in Europe.
Ausiria is occupied with schemes tending, not only to the extension of her own r sources, but those of the adjoining principalities'as well. She not only proposes to unite the Austro-Hungarian railways with those of Switzanjand by a tunnel through the Arlberg, but she is occupied with the consideration of lines designed to connect the capital of Eastern Roumelia with the capital of Bulgaria, and to furnish direct communication between Salonica and Belgrade. It is believed in Servia that English capital will be forthcoming for the construction of the projected line from Salonica to Mitrovitza, Russia proposes to extend the Caucasian alway from Vladikavkaz to the Persian frontier, if the Shah will undertake to meet it there with a trank lino from Teheran, Another line hes been projected from Tiflis to Teheran, in which it is said Russian capital will be embarked, and a continu tion of the line from Teheran to Herat is in contemplation.
The Euphrates Valley projection will be over 1,000 miles in length, and is estimated to cost considerably over ten millions sterling. There are those who consider that this railway is still a very remote event, but its construction has, at any rate, been rendered much more probable by recent political changes. Projects for the construction of lines from Ismid, on the Sea of Marmora, to Aleppo, and from Alexand: to Bagdad, are also under the serious consideration of English capitalists.
As within the last five years the receipts of the Indian railways have increased from £3 28, 4d. to £5 5s. per cent, on the capital expended, there is encouragement afforded to carry out the further extensions so greatly needed for the full development of the country.
Japan must resort to Europe for the bulk of the capital required for its railway sys-tom. The people are fully alive to the importance of railway communication, Lines have already been constructed from Yokohama to Tokio, from Kobe to Osaka, and from Osaka to Saikio, and a prolongation of the line from Tokio to Tagasaki is now under consideration; while another line between Kioto and Otsu has recently been sanctioned, and will in all probability be completed within the next three years, In Victoria there are only 1,112 miles of railway yet constructed. This very inade-Queen ud, the central line is being exjuate mileage is now being increased. In
tended for 170 miles westward from its present terminus; and in New South Wales, where only 600 miles of line have yet been constructed, a further 217 miles are now in course of construction, while it is anticipated that the extension projected to Hay and Wentworth will eventually be connected with a line to Adelaide. A new Tiue from Port Darwin to Pine Creek, a distance of 132 miles, is being promoted by the Australian Government. In Western Australia the new Eastern Railway, now in course of construction, is only the beginning of a general system that will connect the eastern agricultural districts with the city of Perth.
Text read from the printed page and cleaned; old type leaves the occasional error.