are much lower per mile.
Comparing with Indian Railways of the working of which I have had some experience, I do not think that the estimate is at all too sanguine.
For this purpose, I do not think it unreasonable to take a Dollar as equal to a Rupee.
The local labour here is very expensive, and the work done by a thing man on One dollar a day is only about equal to the work done by an Indian on one Rupee per day.
Similar lines running into the large sea ports are the Eastern Bengal, East Indian, and the Bombay Baroda, which earn Rupees 107, 96, and 64 per mile per day. The latter Railway has a good deal of line through a country which does not pay at all. This line is altogether through a paying country.
The percentage of Working Expenses of the gross earnings for the above Railways are 42.54, 33.47, and 47.13.
I do not think my estimate is at all exaggerated.
The principle of varying the rates per mile according to outside competition may give rise to a good deal of discussion, but it is the custom on Railways to do so. At present, there is an attempt being made at home to stop this, as produce from abroad is very often carried from the sea port to London at cheaper rates than home-grown articles.
However, unless such a system is allowed, I do not see how the line is to pay for a good many years to come.
The profit of $935/- per day gives a total of $341,275/- per annum, which will pay 31% on the capital cost, but will leave very little to put by to allow for depreciation of plant.
Chief Resident Engineer,