of trade and manufactures now at her disposal, and provided no new method of locomotion be invented which shall supersede railways, there is every reason to believe that railways will continue to form an ever-increasing source of wealth to the nation.  That this is an opinion very generally entertained is proved from the vast sums of money which are now lent out on the faith that this result will be realised.  The railway system has not only created a new field for speculation, but likewise a new security for monetary investments.  At the close of 1848, upwards of L.43,000,000 was lent upon railways.  There is every reason to believe that debenture-holding is much greater now than it was then; but as no official report of its amount, so far as we know, has been published since 1848, we, for accuracy’s sake, quote the return made in that year.

If railways have produced very important effects upon commercial affairs, they have exercised an influence not less important in a social and intellectual point of view.  They have been greatly instrumental in removing prejudices, in cementing old and forming new friendships, in extending information, and in sharpening ingenuity.

Prejudice has been one of the most formidable obstacles to the spread of civilisation.  It has for ages kept separate and at enmity nations born to bless and benefit each other; propped up systems whose graver errors or weaker absurdities now form subjects of regret and ridicule; and fomented among the members of smaller societies and sects discords, strifes, and recriminations, which have been based on no other foundation than wilful or accidental ignorance.  By bringing those in contact who otherwise would never have met, and improving the acquaintance of those who have, railways have spread individual opinions, tastes, and information more equally than before; and out of this mixture of the social and moral elements have collected and more widely distributed just conclusions regarding men, manners, politics, and religion.  By being thus more frequently brought together, individuals have increased the number of their acquaintances, and become to a greater extent than before ‘citizens of the world.’  A mutual discharge of the good offices of life has augmented those feelings of interest in our fellow-creatures, and kindness towards them, which are not less in accordance with the spirit of Christianity than conducive to the social wellbeing of communities.

The knowledge which one acquires by personal experience and observation is, generally speaking, much more valuable than that obtained from the written experience or observation of others.  By the former method we obtain knowledge in a more rapid, accurate, and impressive manner; and, as a consequence of this, retain it longer in our memories, and possess a greater and more constant command over it.  Books always convey a faint and imperfect, and often a very erroneous impression of things; and to the extent that railways have superseded or assisted book-teaching, have they conferred upon society an improved means of acquiring knowledge.