Notes on Railroad Accidents

30

The other side of this proposition has been argued with much force by Mr. William Galt in his report as one of the Royal Commission of 1874 on Railway Accidents. Mr. Galt's individual report bears date February 5, 1877, and in it he asserts that, as a matter of actual experience, the principle of self-interest on the part of the railway companies has proved a wholly insufficient safeguard against accidents. However it may be in theory, he contends that, taking into consideration the great cost of the appliances necessary to insure safety to the public on the one side, and the amount of damages incident to a certain degree of risk on the other side, the possible saving in expenditure to the companies by assuming the risk far exceeds the loss incurred by an occasional accident. The companies become, in a word, insurers of their passengers, – the premium being found in the economies effected by not adopting improved appliances of recognized value, and the losses being the damages incurred in case of accident. He treats the whole subject at great length and with much knowledge and ability. His report is a most valuable compendium for those who are in favor of a closer government supervision over railroads as a means of securing an increased safety from accident.