The Bill for amalgamating the South-Eastern Railways, and placing our
railway communication with the Continent in the hands of a gigantic monopoly, has been withdrawn. The Com- panies pretend that their object was to serve the public, but on the Lords refusing to increase the legal maximum for fares, they, after one attempt at compromise, withdrew the Bill. The com- promise suggested was of a kind which must have taxed even Mr. Watkin's suave audacity. The Companies offered, if the Lords would only tax England for their benefit, to bind themselves not to levy the high rates after five per cent. had been paid upon ordi- nary stock. After they had fully recouped the capital wasted they would,—if they had not wasted more in the meanwhile,— begin to keep their contract with the public ! Travellers all over England are very indignant with Mr. Watkin, but they are quite wrong. He is a public benefactor, having done more in three months to ensure the absorption of the Railways by the State than Mr. Galt in his labours of twelve years.
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