23

i

exceedingly slow rate—as half a mile per hour—how much morewould it cost the company, in the value of time, to carry the trade atthis rate, than at a speed of ten miles per hour ?

Equation (L) gives us

H = i^of a dollar,

for the value of one hour of the time of the train. This value of Hbeing substituted in equation (M) will yield,

11 10 —} 209

40 X 50'10 X i ~~ 20000

of a dollar,

or more than one cent per ton per mile.

Now, in this case, the value of the time of the train, exclusive of thegoods, is equal to half the actual cost of transportation on a well man-aged road with ample trade ; and it is perfectly apparent that, evenoverlooking the loss of time and depreciation of the price of the goods,such a rate is wholly inadmissible. But let us apply the equation to thedetermination of the difference of value of a speed of five miles and oneof fen miles per hour, under the same circumstances. In this caseequation (M) gives us

11

10—5

11

■ of a dollar.

40 X 50 10 X 5 20000

or only one half mill per ton per mile—ox less than the tithe of theactual difference of cost—consequent on the destruction of cars, enginesand track—risk of accident and damage to goods, incident to the adon-tion of the greater velocity.

The whole difference between the value of a speed of five miles perhour and one of ten miles per hour, will rarely exceed one mill pcrtonper mile, in its effect on the interest of the value of the train, togetherwith the depreciation of the value of the goods conveyed. Howevergreat, then, may be the inducement to carry passengers at a more rapidrate, there is no sufficient cause for transporting freight at a speed ofmore than five mils per hour, unless, as already premised, a higher rateis absolutely essential for the accommodation of all the trade which iscommanded by the line—a condition which, on ordinary roads in thiscountry, very rarely prevails.

We are not likely to overrate the injurious effect, or too strongly todeprecate the continuance, of the mischievous practice which still pre-vails in this country in the transportation of heavy commodities. Theiron rails are rapidly destroyed by it; the wear and tear of the carsand engines are greatly augmented, and the useful effect of the powerapplied is materially reduced. There is no corresponding advantageobtained. The value of the time which is saved is almost too small to