ed in France: "I do not see how railroads
can compete with our stage-coaches." M. Thiers also opposed for years
the building of a railroad between Paris and Versailles, declaring that
on account of a railroad not one passenger more would make the journey
between these two places.

But railroads came whether monarchical governments liked them or not.
The success of the Liverpool and Manchester Railroad stimulated railroad
building in England to a marvelous extent. Between 1830 and 1843 no
less than seventy-one different companies were organized, representing
about 2,100 miles. During the next four years 637 more roads, with an
authorized length of 9,400 miles, were chartered. The construction of
each new road required a special act of Parliament. These early roads
averaged only fifteen to thirty miles in length. The competition which
ensued soon led to the consolidation of roads, which continued until now
the 14,000 miles of railway in England and Wales are practically owned
by only a dozen companies. The total number of miles of railroad in
Great Britain and Ireland is at present over 20,000.

The news of the opening of the first steam railway in England spread
through Europe comparatively slowly. There were in those days but few
newspapers printed on the continent, and these were read very sparingly.
Railroad discussions were confined to merchants and manufacturers. Even
after the success of the railroad was assured in England, a large number
of people would not believe that, except between the largest cities,
railroads on the continent could ever be profitable. But few railroads
have ever been built which with honest, efficient and economical
management would not pay a fair rate of interest on actual cost of
construction. But in spite of this we have to this day a large number of
otherwise well-informed people who question the financial success of
every new railroad that is proposed.

In those days it occurred only to the most sagacious minds that with
increased facilities commerce would expand. The missionaries of railroad
enterprise found it therefore a difficult matter to interest capital in
their projects. Railroad committees were in time formed in all cities of
any importance, but, with capital cowardly, as usual, and governments
distrustful, their task was often a thankless one. Railroad projects
matured very slowly, and, when matured, were often wrecked by jealous
and short-sighted governments. After the form