s light, he even went so far as to call it "a
great humbug." "Nothing will beat the locomotive," said he, "for
efficiency in all weathers, for economy in drawing loads of average
weight, and for power and speed as occasion may require."

The atmospheric system was fairly and fully tried, and it was found
wanting. It was admitted to be an exceedingly elegant mode of applying
power; its devices were very skilful, and its mechanism was most
ingenious. But it was costly, irregular in action, and, in particular
kinds of weather, not to be depended upon. At best, it was but a
modification of the stationary-engine system, and experience proved it to
be so expensive that it was shortly after entirely abandoned in favour of
locomotive power. {288}

One of the remarkable results of the system of railway locomotion which
George Stephenson had by his persevering labours mainly contributed to
establish, was the outbreak of the railway mania towards the close of his
professional career. The success of the first main lines of railway
naturally led to their extension into many new districts; but a strongly
speculative tendency soon began to display itself, which contained in it
the elements of great danger.

The extension of railways had, up to the year 1844, been mainly effected
by men of the commercial classes, and the shareholders in them
principally belonged to the manufacturing districts,--the capitalists of
the metropolis as yet holding aloof, and prophesying disaster to all
concerned in railway projects. But when the lugubrious anticipations of
the City men were found to be so entirely falsified by the results--when,
after the lapse of years, it was ascertained that railway traffic rapidly
increased and dividends steadily improved--a change came over the spirit
of the London capitalists. They then invested largely in railways, the
shares in which became a leading branch of business on the Stock
Exchange, and the prices of some rose to nearly double their original
value.

A stimulus was thus given to the projection of further lines, the shares
in most of which came out at a premium, and became the subject of
immediate traffic. A reckless spirit of gambling set in, which
completely changed the character and objects of railway enterprise. The
public outside the Stock Exchange became also infected, and many persons
utterly ignorant of railways, knowing and caring nothing about their
national uses, but hungering and thir