A hundred years ago
From the 'Spectator', 18 July I868—The House of Lords has taken a very decided step to prevent Rail- ways from demanding an increase in their maxi- mum fares. It agreed on Monday to a resolution, proposed by Lord Taunton, that no bill authorizing an increase of fares should be read a second time without a special report from the Board of Trade. We do not see how any report from any Board can possibly alter the moral law that a man is bound to abide by his contract, even if it be to his own hurt, but perhaps Railway Companies are above morals. They contract with the State that in consideration of certain immense privileges they will carry the public at fixed rates. The debate was rendered noteworthy by a distinct admission from Lord Salisbury that the Railways ought not to be in private hands at all. When Lord Salisbury and Mr. Gladstone are agreed on a matter of public policy action must be at least possible.
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