I imagine that one of the difficulties was that the former company held the charter and the subsidy until they could get their terms for disposing of both to the company that took it up. No doubt there is something in that, but after all it is not an isolated state of things. The hon. gentleman will agree that there ought to be some reasonable prospects on tlie part of those asking for the subsidy that the work will pay. The Minister of Finance is unable at present to give us that assurance. This business of exploiting the country in that way with the money of the people is one which we should not encourage, and I doubt whether parliament is in any case bound to make a revote to a new company, because the original promoters are bound to be bene* fited to some extent.
Subtopic: RAILWAY SUBSIDIES.