Note 56 — INTRODUCTION.

(56) “We have now enjoyed more than thirty years peace, and when it was proposed to invest the Capital, which we could so readily throw away on arms and gunpowder, upon actually productive works, the cry was raised of impending ruin and bankruptcy. The lodging of deposits with the Accountant-General was to result in ‘ruinous, universal and desperate confusion.’ The money was lodged, and no ruinous confusion took place. The Acts were obtained, and ruin was again predicted; ‘where was all the money to come from?’ The money has been got, £112,100,639 has been raised in the course of three years, involving, it is true, much suffering to some classes, but not to the nation at large.”—S. Smiles on Railway Property.