4. The objections of Parliament and the general public to giving additional profits to railway shareholders, which involve raising fares to the travelling public, are well known to the members of the Committee. They are not confined to the adherents of any one political party. For this reason, among others, it is proposed to give a fixed guarantee instead of a participation in profits; but then the incentive to economy and efficiency disappears, It is necessary to rely on the motive of public service.