10 18. Works have been sanctioned which, it is estimated, will cost about 60,000,000%., 48,303,4377. of which has been raised, and 46,488,9897. expended. A sum of 13,511,0117. thus remains to be raised and expended, which may be distributed over the following years, in proportions specified below: 19. The subjoined table gives the amount which has been annually expended since the commencement of operations in 1850, and the length opened in each year. It is hardly necessary to say that the annual expenditure applies not only to the lines completed in each year, but to the works in progress. 20. It will be observed, that the annual expenditure, both in this country and in India, is beginning to diminish. This is an indication of the approaching completion of the system of trunk lines which was sanctioned with guaranteed capital. Last year's expenditure has not, however, been so large as was expected, and the extent of line opened has consequently been less. 21. The manner in which the greater portion of the expenditure given in the last table has been divided may be gathered from the subjoined statement :STATEMENT showing the Amount expended under the respective heads of— *This is exclusive of the cost of the Steamers for conveying the materials up country, which cost about 600,000l. Including Engineering Staff and Surveying Expenses. Government towards the conlines, beyond the Guarantee. struction of the 22. It must be remarked that, while the amounts above given represent the expen- Contributions by diture incurred by the Railway Companies, they do not show the whole of the actual cost of the lines. The Companies have expended about 46,500,000l., 17,000,0007. in England, and 29,500,000l. in India. To this sum must be added, first, the value of the land, which is purchased by the Government and given to the Railway Companies, and secondly, an amount equivalent to 2d. on every rupee advanced, during the last few years, by the Government in India for expenditure in that country. It will be remembered that the money raised by the Railway Companies is paid into the Government Treasury in England, and such portion of it as is not required for their own purposes is available for the Home expenditure of the Indian Government, thus obviating the necessity of remittances to this extent from India. On the other hand, the funds necessary for the execution of the works in India are provided out of the Government Treasuries there. When the contracts were made, the rate of exchange for the rupee was 1s. 10d., and it was stipulated in all the contracts that the rupee should, in the accounts between the Government and the Companies, be converted into sterling at that rate. For every 1s. 10d. received by the Government into the Home Treasury, they have therefore advanced one rupee in India. At the commencement of operations, the value of the rupee being 1s. 10d., there was no loss or gain on either side, but when the value of the rupee rose to 2s., the Government spent in India the equivalent of 2s. for every 1s. 10d. they appropriated to Home expenditure in England. The sum expended in this shape may be taken at 2,400,000l. Through the operation of the contract, this may perhaps be ultimately recovered; for, when the receipts of the railways in India (which are paid every half year into the Government Treasuries) are remitted to this country in payment of dividends, the Government will account to the Companies in England only for 1s. 10d, in respect of each rupee received in India, and thus, if the rate of 2s. continues, and the receipts of the railways are sufficient to pay 5 per cent. interest on the capital advanced, the Government, in the course of time, will recover great part of this sum. In the meantime, it constitutes an annual charge on the revenues of India, and is in fact a contribution on the part of Government towards the construction of the railways. 23. The total amount expended by Government in the purchase of land for the railways cannot be given, in the absence of the requisite information from India, but, as regards portions where the cost has been ascertained, it amounts to an average of about 3007. per mile, or in all, including sites for stations, about 1,500,0007. 24. The expenditure on rolling stock is represented by the following locomotive engines and vehicles now on the lines, or on their way thither. The following remarks relate to each undertaking separately, and tothe traffic on each open line. EAST INDIAN RAILWAY. 25. The whole of the Bengal division of this great line, viz., between Calcutta East Indian. and Benares, a distance (including branches) of 609 miles, is now open. In the North-West division 280 miles are open, leaving a further length of from 230 to 240 miles to complete the line to Delhi. It is expected that this portion 12 will be finished, with the exception of the Jumna bridge at Allahabad, in the course of the present year. The Jubbulpore branch, just commenced, will not be completed for three years at least. 26. The Governor General, Lord Elgin, travelled by railway to Benares on his recent journey from Calcutta to the North-West Provinces, and, in a paper dated the 7th February 1863, thus describes his impressions upon the undertaking :— "The distance from Calcutta by rail to Benares is 541 miles. Work was begun in 1851. The line to Burdwan was opened in February 1855; to the Adjai in October 1858; to Rajmahal in October 1859; to Bhagulpore in 1861; to Monghyr in February 1862; and to Benares in December 1863. In ten years, therefore, have been opened (including branches) a continuous length of 601 miles, being at the rate of 60 miles a year. This is exclusive of the portion of the line already finished between Allahabad and Agra in the North-Western Provinces, and of the section from Agra to Allyghur, which it is expected will be ready in a few weeks. Including this length, the progress of the East Indian Railway has not been short of 90 miles a year, a rate which, if it has not come up to the expectations first entertained, is, under all the circumstances of the case, satisfactory as regards the past, and encouraging as regards the future. "3. On his journey from Calcutta to Benares, His Excellency observed, with much interest, the numerous striking works that have been so successfully constructed on this railway by the Company's engineers, and viewed with particular admiration the great girder bridge over the Soane, which, it is believed, is exceeded in magnitude by only one bridge in the world. The smaller girder bridges over the Keeul and Hullohur, the heavy flood arching in the vicinity of these rivers, the masonry bridges over the Adjai and More, and the Monghyr tunnel also attracted the attention of His Excellency the Viceroy, as works of more than ordinary difficulty, designed and carried out with signal ability. "4. His Excellency the Governor General gladly accepts this opportunity of acknowledging the services rendered by the officers of the Railway Company in the prosecution of this great work, and of expressing more especially the strong sense he entertains of the high engineering skill and the steady devotion to his duties exhibited by Mr. George Turnbull, the Chief Engineer of the Company in Bengal, who in a few days will give up the direction of the works which he has now seen completed. Although not in the immediate employment of the Government, Mr. Turnbull has, in the opinion of His Excellency, well earned the expression of the thanks of the Governor General for his professional services, which have, indeed, been rendered as much to the public as to the Railway Company. In all Mr. Turnbull's dealings with the Officers of the Government he has invariably shown that moderation and desire to conciliate which were essential to the harmonious and successful carrying on of the railway works, under the peculiar conditions imposed by the terms of the Government guarantee; and the Governor General has much satisfaction in signifying on behalf of the Government of India his high estimation of the manner in which all Mr. Turnbull's relations with the Government have been conducted. "5. His Excellency the Viceroy will not fail to bring to the favourable notice of Her Majesty's Government the long and excellent services of Mr. Turnbull, who, having been the first railway engineer employed in India, has now happily seen the portion of this great work on which he was more particularly engaged brought to a close, after many years of arduous and persevering labour, under circumstances of unusual difficulty, with the most complete satisfaction to his. employers and to the Government, and with the highest credit to himself." 27. It may be mentioned, as a curious fact, that the quickest journey ever performed between Benares and London was by Mr. Turnbull, who left the former place on the 8th February, arrived at Calcutta on the 9th, left Calcutta the same day, and reached London on the 15th March, occupying but 36 days in all. 28. The following traffic returns for the year ending the 30th June 1862, apply only to 610 miles. It will be observed that the traffic has increased in all its branches. The mileage receipts cannot be expected to remain at the same amount while extensions are rapidly being opened, but it is satisfying to know that they are gradually recovering their former position. The striking feature in the passenger traffic is the great preponderance of third class travellers which still continues. STATEMENT No. I. COMPARATIVE STATEMENT, showing the Amount of Receipts from Passengers and Goods, the Working Expenses, and the Net Profits, during the Years ending 30th June 1859, 1860, 1861, and 1862. COMPARATIVE STATEMENT showing the proportion of Working Expenses to Gross Receipts, and the proportion per cent. of Receipts from Passengers and Goods. 14 STATEMENT No. III. COMPARATIVE STATEMENT showing the Number of Passengers conveyed during the Years ending 30th June 1859, 1860, 1861, and 1862. COMPARATIVE STATEMENT showing the Total Number of Passengers conveyed per Mile, and the Total Great Indian GREAT INDIAN PENINSULA. 29. A length of 57 miles was added to this line during the past year, and 63 more since the 31st December last, making a total distance of 5574 miles available for public traffic. By opening the last section to Mulkapoor, the line is brought into immediate connexion with the great cotton district of Central India, which is soon |