15 JANUARY 1921, Page 3

The railway returns for November are bad reading. For the

first seven months of the year the passenger receipts averaged a little over £10,000,000 a month, but in November the receipts dropped to £7,759,211. No doubt the coal strike had a good deal to do with the drop, but the question arises also whether the high railway fares are not defeating their own purpose. We do not pretend to offer an opinion ; it is a problem for those who have all the facts before them. It is enough to say that when revenue of any sort shows a decline, one of the questions which ought to be asked and answered is whether the taxable capacity of the public has been exceeded.