Identifier: newfoundlandatbe00harv (find matches)
Title: Newfoundland at the beginning of the 20th century : a treatise of history and development
Year: 1902 (1900s)
Authors: Harvey, M. (Moses), 1820-1901
Subjects: George V, King of Great Britain, 1865-1936
Publisher: New York : The South Publishing Co.
Contributing Library: Robarts - University of Toronto
Digitizing Sponsor: University of Toronto

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h itbrings, these lands must have remained valueless indefinitely.These land grants, it should be noticed, are accepted by Mr.Reid instead of an annual subsidy in money as payment foroperating the line for the first term of years when of necessitythe revenue from passenger and goods traffic must be small.The colony thus escapes the heavy cost of operating the line atfirst by the concession of these lands which are entirelyunprofitable. Moreover, Mr. Reid engages to sell his lands atthirty cents an acre—the Government upset price to all bonafide settlers. Other advantages are the conveyance of mails three timesa week instead of fortnightly as formerly, with an increase ofbusiness. The connection at North Sydney with the Americanrailway system opens a desirable route for tourists and travelers,and gives a quick route of transit for goods. That a smallcolony, by no means wealthy, has discovered such spirit andenergy as to undertake and carry out such an enterprise and 172 NEWFOUNDLAND.
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Placentia. to make provision for payment of interest on its cost iscertainly greatly to its credit; and it is now quite certain thatit can shoulder the burden of debt incurred by its constructionwithout any undue strain. Before the great innovator, therailway, old things will pass away and a new and better socialand industrial life will begin. In 1898 the Government entered into a new contract withMr. Reid, which was ratified by the Legislature, the bill beingpassed by an overwhelming majority. According to this newagreement Mr. Reid undertakes to operate all the railways forfifty years, stringent conditions as to management, number oftrains, rates, etc., being laid down. For the reversion of the NEWFOUNDLAND. 173 railway at the end of fifty years he agrees to pay $1,000,000within one year. Thus the colony is forever relieved of theheavy expense of operating the railway which for many yearswould otherwise be a drain on the revenue. The main benefitof the railway is the opening up of t

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