In the volume entitled "Home Rule Problems" issued by the Liberal Home Rule Committee, with a preface by Viscount Haldane, not one word is said on the subject, though there are chapters on Irish finance, and on Irish commercial and industrial conditions. Neither has Mr. Stephen Gwynn a single word on the subject in his "Case for Home Rule," though he makes the large assertion that "there is no country in the world where resources are more undeveloped than those of Ireland."
Mr. Erskine Childers[93] merely refers to the Irish railway problem as one that is "obvious and urgent," "which no Parliament but an Irish Parliament can deal with, and which calls aloud for settlement."
Let us now look at the problem in more detail; and first is the question of the railways. The property to be dealt with consists of 3411 miles of railway, representing a total capital of £45,163,000, of which, at the date of the Report of the Commission, £2,873,000 paid no dividend; the gross annual receipts of the whole system being £4,255,000 and the net receipts £1,690,000, representing a return on the whole capital of 3.77 per cent.[94]
Of these lines, the railways constructed under the Tramways and Light Railways Acts cover 603 miles, of which 322 are narrow gauge, involving a liability on various baronies which have guaranteed interest on capital to the amount of £36,000 per annum. To bring these light railways up to a proper standard and equipment; to widen the gauge in many cases; to provide new sheds, stations, and rolling stock, and redeem the guarantees, a sum of about £5,000,000 would probably be necessary. In addition, projects for no less than eighty-three new railways were brought before the Commission;[95] and it is admitted on all hands, and the Commission find, that practically none of these railway extensions would be undertaken by private enterprise, and that these developments need the credit, help, and direction of the State. Even the necessary improvement of the existing light railways cannot now be undertaken, for under the system of legislation under which they were constructed, there is no means of raising new capital.[96]
Now, what is advocated by the Majority Report is the--
