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Excerpt from Railway and Government Guarantee, Which Is Preferable?: Facts and Arguments to Shew Tiiat Guaranteed Railway Stock Offers a Better Investment Than Do Government Securities
That almost every railway which, to the present time, has received the sanction of the Legi... Læs mereslature, will sooner or later prove to be a fair and remunerative property, there can be little if any doubt. Many possess, of course, very superior merits over others, and I feel persuaded that, with care in the selection, purchases made in the present depressed state of the money market, would ultimately turn out very well; but my present purpose is not to dwell upon this, which may be termed the speculative class of Railway Stocks: I shall confine myself here to the guaranteed lines, the non-guaranteed, though otherwise od'ering ample scope for favourable observation, being foreign to the object of these pages.
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