TRAVELS IN MEXICO.
Mexican Railway.[1] This is the representative road, having been begun before the republic was well prepared for the iron horse, and having struggled through sixteen years of revolutions and civil strife. Commenced in 1857, it was not finished till 1873, and cost—owing to the engineering difficulties encountered and the disturbed state of the country—an immense sum, its present liabilities amounting (including stock) to over $39,000,000. This railway has had, says a writer on Mexico, a continuous history of vicissitude,—enough to crush out any ordinary enterprise. Its construction was ruinously delayed and frequently suspended, and its expenditures have been extravagant, probably beyond all precedent.
As it is owned entirely in England, its success does not directly affect Americans. Still, as it is often quoted by American speculators as an instance of successful Mexican railway enterprise, it would be well to inquire what has contributed to make it profitable. Its cost was greatly in excess of what it should have been,—a loss partially balanced by the monopoly it has had, and still keeps, of the transportation of railway material from coast to capital. It should be borne in mind that it is now built, equipped, complete, and in the hands of sagacious managers, who honestly administer its earnings. These were, for the year 1873, $2,117,553, and the net profits, $826,990; for 1879 (material for other roads now coming into the country), $3,257,235; net profits, $1,795,713; for 1880, total receipts, $3,709,910; profits, $2,147,589; for 1881, $4,831,215; net profits, $2,758,729. These estimates, compiled from various sources, will indicate to the reader the growth and ultimate consequence of this railroad.
To complete the picture, the following comparison is given, elicited from the eminent Mexican, Señor Romero, by the adverse criticisms of a writer in a popular magazine: "As a test of the capabilities of this road, let us make a comparison between the earnings of the Vera Cruz Railroad and roads similarly situated in the United States. Probably the two lines combining more nearly than any others similar conditions are the Union
- ↑ For description of this route, see Chapter XL, "From Coast to Capital."
