Social Transformations of the Victorian Age: A Survey of Court and Country. Escott Thomas Hay Sweet

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СКАЧАТЬ that coaches would drive off the trains in a month. From 1836 and onward the Liverpool and Manchester, the London and Birmingham, and the North Midland lines were all paying ten per cent. During 1846, the year of the railway mania, 440 railway Bills passed authorizing the construction of 8,470 miles and the raising of £180,138,901.

      This was the zenith of the shortlived splendour of George Hudson, the railway King. He has been seen already in these pages, amid the Hyde Park crowd in the early forties, resting his large heavy person in his wife’s chariot. The man himself had first become known on the City Board of Health in York. Afterwards he was elected Mayor of his native town. In that capacity he made the acquaintance of George Stephenson. In 1845 the son of the York linendraper, now a power in the railway world was returned to the House of Commons as Member for Sunderland. His parliamentary career is alone, if at all, remembered to-day by the frequent encounters on the floor of the House between himself and Mr Bernal Osborne. Diverting memories of these were often recalled for the benefit of his friends by Hudson’s antagonist, with the generous admission of the raconteur that he had, in the ex-King, usually found his match, if not in humorous retort and thrust, yet in substantial argument. Two years after the ‘King’ drove the engine which took the Queen and her Consort to Cambridge, suspicions of Hudson’s motive and conduct took (April 19, 1849) a definite shape. The shareholders of the Midland demanded a Committee of Inquiry. The incriminated Chairman resigned his post, and quietly accepted his permanent eclipse. It was noticed to his credit at the time, and has not since been denied, that he made no efforts at self exculpation, disclosed no names or confidential transactions, and thus refused, as unquestionably it was in his power to do, to associate persons of the highest consideration with himself in his fall. Hudson was only the type of a class whose members were invested by the railway passion of the period with brief splendour and unsubstantial prosperity. In the Upper House, Lord Clanricarde mentioned how Charles Guernsey, a broker’s clerk, had subscribed fifty-two thousand pounds for shares in the London and York line. This was the undoubted original of Thackeray’s ‘de la Pluche.’ The total of his gains appears to have amounted to thirty thousand pounds. The essential facts of the sequel with very little of fictitious amplification are given by the novelist.

      A reaction, as has been seen, followed the morbid enterprise of 1846. Its results, however, have endured to the present hour. In 1845 the United Kingdom possessed only two thousand four hundred miles of iron way. The capital invested upon these was only eighty-eight millions. Before 1850, the capital had increased to two hundred and thirty millions. To-day the aggregate miles of the railways of the United Kingdom are little, if at all short, of twenty thousand. The expenditure has been six hundred and thirty millions. The gross annual income is sixty millions. In order to appreciate with approximate accuracy the part played by the steam locomotive in the creation of nineteenth century wealth in England, or to define with practical distinctness that familiar term ‘the railway interest;’ it is necessary to examine this matter more in detail. In 1855 the total of capital represented by the United Kingdom railways was £297,584,709. In 1894, the latest date to which the Board of Trade returns are published, the total was £985,387,855. After forty years, therefore, the railway investments of these Islands had increased by £687,803,146.

      Another chief source of national wealth and industrial employment during this reign has been provided by mining enterprise. In respect of the money value of each, what are the relations which the yield of subterranean labour has borne to the enterprises of steam upon the surface of the earth? In 1855 the value of all the minerals brought to the light of day is expressed by the figures £29,579,001. The figures referring to railways for the same year were, it will be remembered, seen to be £21,507,599. This comparison between the two shows therefore that in 1855 the mines exceeded the railways in value in round numbers, by eight million pounds. The exact figures of the excess were £8,071,402. Forty years later this balance is more than redressed. In 1894 the total of mineral wealth was £80,900,453. The entire railway receipts were £84,310,831. In other words, the surface opulence of the United Kingdom had not only made good its inferiority to the subterranean wealth, but had advanced beyond that rival, in round numbers, by three and a half million pounds. The exact figures were £3,410,378.

      The interesting analysis of the resources of the different orders of the community contained in Mr W. H. Mallock’s ‘Classes and Masses’ supplies tolerably conclusive evidence that the results of mining and railway enterprise have been distributed not very unequally between the rich and the poor, or, as Mr Mallock rather puts it, between income tax payers on £1,000 or upwards a year and those who, earning less than £150 a year, pay no income tax at all. His estimate is that the population of England contains seven hundred thousand families, equal to a total of three million souls, ‘with means of subsistence, insufficient, barely sufficient, or precarious.’ Although these figures represent the entire population at the Norman conquest, Mr Mallock is able to show that relatively to all inhabiting this realm the necessitous class has decreased, not increased. In the seventeenth century, one-third of the dwellers in Sheffield, then (1615) as to-day a great manufacturing centre, were dependent on charity. Thirteen years after the Queen’s accession (i. e. 1850), out of every two hundred of our population nine were paupers. In 1882 the proportion of pauperism was only five. Between 1850 and 1897 the population has increased from twenty-eight millions to thirty-eight millions. The income-tax payers have increased from one million and a half to nearly eight millions.8 Incomes between £150 and £1,000 have increased from three hundred thousand to nine hundred and ninety thousand. Incomes above £1,000 have increased from twenty-four thousand to sixty thousand; or, as this authority finds it more convenient to put it, the middle class has grown by six hundred and ninety thousand. The rich have been re-inforced by only thirty-six thousand. On the other hand Mr Mallock is able to dispose of the fallacy that during the present reign the very richest class have grown richer still. In 1850 the incomes of fifty thousand pounds and upwards were seventy-two thousand; in 1897 they are nearer a hundred thousand; thus while the fairly well-to-do middle classes have increased by hundreds of thousands, the professional plutocrats measure their increase only by a few simple thousands. Briefly summarized, the arithmetical argument of Mr Mallock is as follows. In 1800 the whole wealth of the country was two hundred and forty million pounds. Of that amount the workers took one hundred and eleven million pounds, leaving for the middle classes and the rich one hundred and thirty million pounds. Three quarters of a century later, or more exactly in 1881, Mr Mallock’s latest date, making his argument still more applicable to 1897, the total of national wealth was one thousand three hundred millions. Of this the workers had six hundred and sixty millions. The working classes had thus, from being twenty millions behind the rich at the opening of the century, advanced twenty millions beyond the rich towards its close. From these figures, the inference is fair, and indeed irresistible, that railways like other inventions have contributed to the material prosperity of all classes equally, and have not enriched the capitalists alone.

      Notwithstanding George Hudson, who has become merely a memory, or Charles Guernsey, the stockbroker’s clerk who was his lowly imitator, the railway plutocracy would seem to be a phrase more full of sound than of practical meaning. If to this remark the name of Vanderbilt be objected, the true facts of the case rather confirm than disprove the present remark. ‘Commodore’ Vanderbilt was a rich man before he ever owned a railway share. He sold a fleet of steamers to purchase control of the New York Central Railway. Had he invested the capital realized by this preliminary transaction in any of the industries of his nation, such as the tinning of beef from a cattle ranche in California, or the curing of bacon at Chicago, he might have made the same or an even larger fortune. Railway diplomacy was only the accidental employment of Mr Vanderbilt’s extraordinary genius for creative finance. The same talents exercised upon any other material, or expended in any other career could scarcely fail to have commanded same results. In another department of the industry afforded to intellect by the steam locomotive, Charles Austin made two fortunes out of railway Bills. His abilities as an advocate were probably unequalled among the generation to which he belonged. Since Austin’s day lawyers of the same, or something like the same capacity have amassed wealth not inferior to Austin’s out of electric patents practice, or in other branches of law which have been specially in request at the moment. While the railway fever of the forties was СКАЧАТЬ