Note 31 — SECTION IX. THE REAL BASIS OF RATES.

It may be objected that under such a system companies might extort exorbitant sums from traders who must send their goods. But (1) the figures and returns referred to later on show that in fact the companies have not made such charges, but have benefited every industry as well as themselves; (2) the statutory maxima cannot be exceeded; (3) at many points there is effective sea and canal competition; (4) the result of increasing the rates to a height which prevents the producer from earning a fair profit must, in the long run, be to diminish the traffic of the railway; (5) there is always a liability when, high rates exist that Parliament will sanction a new line, even if the chances of its financial success be not great.