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railways of the United Kingdom have for nearly three years been in a position in which they never before were. All the rates chargeable for goods and minerals, by which a revenue of more than £41,000,000 is annually collected, are under discussion. Authority to modify the statutory classification of maximum rates was given by the Railway and Canal Traffic Act 1888 (s. 24). Upon what principles future charges were to be made Parliament did not distinctly say: 'The Board of Trade shall determine the classification of traffic which, in the opinion of the Board of Trade, ought to be adopted by the railway company, and the schedules of maximum rates and charges, including all terminal charges proposed to be authorized applicable to such classification, which would, in the opinion of the Board of Trade, be just and reasonable' (s. 25 (6)). The process of revision is now virtually complete. Parliament has passed Bills embodying provisional orders as to the classification of nine of the chief companies; similar measures will be passed next session with respect to other railways; and perhaps a final decision may be arrived at before the very principles upon which the charges should be made are settled.

In 1888 and the early part of 1889 the railway companies sent in their proposed classification and schedules of maximum rates. Time was given to the traders to examine the companies' proposals, and by June 3, 1889, over 4000 objections from over 1500 objectors were received by the Board of Trade. Some complainants were satisfied; the majority of the points of difference were found irremovable by negotiations. The Board of Trade instituted a public inquiry, which lasted altogether eighty-five days; and the result was a report by Lord Balfour of Burleigh and Mr.