"RUPEE RAILWAYS " IN INDIA.
[To THZ EDITOR 011 TEl " SPECTATOR."] Sin,—In the Spectator of December 5th you naturally ask for information as to the extent and kind of assistance the Government of India affords to these railways. Permit me to answer your questions as briefly as possible. The Govern- ment gives free use of land and liberty to pay interest out of capital during construction, but there is no guarantee, and moreover, it is especially stipulated that the Secretary of State for India accepts no responsibility for the estimates of the lines nor the probable profits after completion. The share- holders, therefore, are dependent on the earnings of these railways for interest on their investments after the lines have been completed and are in full working order. The Tapti Valley Railway is not the first " Rupee Railway " in India, but it is by far the largest and most important. There is a smaller line, starting from Ahmedabad, now being constructed under the same auspices and conditions.—I am, Sir, SLC.,
ROGER SEDGWICR.
[" Free use of land," as Government does not steal it, means in effect a considerable State grant.—ED. Spectator.]
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