OCR Text |
Show uu GOVERNMENT OWNERSHIP IN ITALY. According to the London Economist, the most manifest and certain result re-sult of tho exploitation of the railways rail-ways by Italy IB that In a period of five years tho State has lost Its income in-come from the capital of 5.000.000.000 lire spent on the construction, purchase pur-chase and equipment of the railways. To this sum. which may be considered consid-ered as the share capital of the railways, rail-ways, about fl',OO0.DOO,OOO lire must' bo added for advances mado In the treasury treas-ury to the administration of tho railways. rail-ways. The letter has hitherto paid the Interest .and sinking fund upon tho advances, Just as if tho money had been borrowed In the form of debentures de-bentures by an ordinary Joint stock company, but thatondency is for the-administration the-administration of tho railways to relievo re-lievo ItHelf of the charge, "while at the samo time getting further free advances fromrtho treasury. It has already demanded 30,000,000 lire per annum In this form to double the most important tracks. |