security, ridiculed the
proposed railway as a chimera. It had been spoken about years before,
and nothing had come of it then: it would be the same now.

In order to form a better opinion as to the practicability of the
railroad, a deputation of gentlemen interested in the project proceeded
to Killingworth, to inspect the engines which had been so long in use
there. They first went to Darlington, where they found the works of the
Stockton line in progress, though still unfinished. Proceeding next to
Killingworth with Mr. Stephenson, they there witnessed the performances
of his locomotive engines. The result of their visit was, on the whole,
so satisfactory, that on their report being delivered to the committee at
Liverpool, it was finally determined to form a company of proprietors for
the construction of a double line of railway between Liverpool and
Manchester.

The first prospectus of the scheme was dated the 29th October, 1824, and
had attached to it the names of the leading merchants of Liverpool and
Manchester. It was a modest document, very unlike the inflated balloons
which were sent up by railway speculators in succeeding years. It set
forth as its main object the establishment of a safe and cheap mode of
transit for merchandise, by which the conveyance of goods between the two
towns would be effected in 5 or 6 hours (instead of 36 hours by the
canal), whilst the charges would be reduced one-third. On looking at the
prospectus now, it is curious to note that, while the advantages
anticipated from the carriage of merchandise were strongly insisted upon,
the conveyance of passengers--which proved to be the chief source of
profit--was only very cautiously referred to. "As a cheap and
expeditious means of conveyance for travellers," says the prospectus in
conclusion, "the railway holds out the fair prospect of a public
accommodation, the magnitude and importance of which cannot be
immediately ascertained." The estimated expense of forming the line was
set down at 400,000 pounds,--a sum which was eventually found quite
inadequate. The subscription list when opened was filled up without
difficulty.

While the project was still under discussion, its promoters, desirous of
removing the doubts which existed as to the employment of steam power on
the proposed railway, sent a second deputation to Killingworth for the
purpose of again observing the action of Stephenson's engines. The
cautious projectors of th