RAILWAYS IN MALAYA
There is the prospect of an early and large development of railway construction in the Malay Peninsula. Mr. F. A. Swettenham, the Resident-General of the Federated States, is convinced that what is most wanted to open up the Malay Peninsula is an active policy of railway construction. Mr. Swettenham is right. Nothing else will open up the Peninsula so quickly as railway building; and the Peninsula is worth opening up. It is a territory which, for its size, is one of the richest in the world; and, when we find other territories less wealthy and less rich opening up railways, and by the hundreds of miles, the present unambitious policy stands self-condemned. In some respects the Peninsula - it should be noted - is being developed much more quickly than was hoped, even by such fervent believers as the Resident-General. The most encouraging thing, of course, is the remarkable advance that has been made, during the last eighteen months, in planting enterprise. Not merely in Selangor, but in other directions, advancement has been phenomenal. In Sungie Ujong, for instance, progress has been comparatively greater than in Selangor, and it is in Sungei Ujong that the progress of the planting interest is most to be desired, because of the comparatively weaker condition of mineral development there. Obviously then, the more land that is opened up by railways, the more encouragement planting enterprise will receive. We are glad to learn, therefore, that the Executive of the Federated States, guided by the wisdom and counsel of Mr. Swettenham, is seeking to arrange to begin a system of railway building on a much more important scale than has hitherto been attempted. To carry out the more ambitious policy, of course, money will be required. we have the assurance that there will be no difficulty in obtaining that. When in London, on his recent visit, Mr. Swettenham had an interview with Mr. Chamberlain on the question. They are both able and practical men; and they came to a wise conclusion. The country is being rapidly developed, railways must of necessity soon spread their iron network over the States, and for that purpose money will be forthcoming. Mr. Swettenham may feel so optimistic regarding the wealth and resources of the land under his care as to think the immediate outlay of a million sterling on this railway scheme to be only a moderate amount. We are informed that the loan of such a sum could be easily floated, bearing interest at only 3 or 3½ per cent. Yet it is a big amount to commence with. Perhaps, as a compromise, and to effect a satisfactory start, a loan of half a million sterling would meet with the cordial sanction of Mr. Chamberlain and the ready subscriptions of investors. The credit of the Federated States is, of course, more than good for such an amount. There is, to begin with, a revenue of nearly a million sterling; and the Protected Malay States is, perhaps, the only country in the world which can show no debts and a series of most valuable assets, all created out of revenue. But, whether it be a million or half a million, the question is - the only question of interest to the public - will Mr. Swettenham get leave to borrow that money and to spend it in railway building? We make no doubt on that point. Mr. Chamberlain will be in sympathy with the scheme, Mr. Swettenham is its enthusiastic and energetic advocate, and the English market will be a willing investor in the loan that must be raised for railway construction in the Peninsula. Mr. Swettenham will carry out his project, and the prosperity of Malaya cannot fail to be enormously increased.
(The Straits Times, 23 October 1896)
Headquarters of the F.M.S. Railways in Kuala Lumpur (1918/1919)
£1 million in 1896 currently equivalent to approx RM579 million.
There is the prospect of an early and large development of railway construction in the Malay Peninsula. Mr. F. A. Swettenham, the Resident-General of the Federated States, is convinced that what is most wanted to open up the Malay Peninsula is an active policy of railway construction. Mr. Swettenham is right. Nothing else will open up the Peninsula so quickly as railway building; and the Peninsula is worth opening up. It is a territory which, for its size, is one of the richest in the world; and, when we find other territories less wealthy and less rich opening up railways, and by the hundreds of miles, the present unambitious policy stands self-condemned. In some respects the Peninsula - it should be noted - is being developed much more quickly than was hoped, even by such fervent believers as the Resident-General. The most encouraging thing, of course, is the remarkable advance that has been made, during the last eighteen months, in planting enterprise. Not merely in Selangor, but in other directions, advancement has been phenomenal. In Sungie Ujong, for instance, progress has been comparatively greater than in Selangor, and it is in Sungei Ujong that the progress of the planting interest is most to be desired, because of the comparatively weaker condition of mineral development there. Obviously then, the more land that is opened up by railways, the more encouragement planting enterprise will receive. We are glad to learn, therefore, that the Executive of the Federated States, guided by the wisdom and counsel of Mr. Swettenham, is seeking to arrange to begin a system of railway building on a much more important scale than has hitherto been attempted. To carry out the more ambitious policy, of course, money will be required. we have the assurance that there will be no difficulty in obtaining that. When in London, on his recent visit, Mr. Swettenham had an interview with Mr. Chamberlain on the question. They are both able and practical men; and they came to a wise conclusion. The country is being rapidly developed, railways must of necessity soon spread their iron network over the States, and for that purpose money will be forthcoming. Mr. Swettenham may feel so optimistic regarding the wealth and resources of the land under his care as to think the immediate outlay of a million sterling on this railway scheme to be only a moderate amount. We are informed that the loan of such a sum could be easily floated, bearing interest at only 3 or 3½ per cent. Yet it is a big amount to commence with. Perhaps, as a compromise, and to effect a satisfactory start, a loan of half a million sterling would meet with the cordial sanction of Mr. Chamberlain and the ready subscriptions of investors. The credit of the Federated States is, of course, more than good for such an amount. There is, to begin with, a revenue of nearly a million sterling; and the Protected Malay States is, perhaps, the only country in the world which can show no debts and a series of most valuable assets, all created out of revenue. But, whether it be a million or half a million, the question is - the only question of interest to the public - will Mr. Swettenham get leave to borrow that money and to spend it in railway building? We make no doubt on that point. Mr. Chamberlain will be in sympathy with the scheme, Mr. Swettenham is its enthusiastic and energetic advocate, and the English market will be a willing investor in the loan that must be raised for railway construction in the Peninsula. Mr. Swettenham will carry out his project, and the prosperity of Malaya cannot fail to be enormously increased.
(The Straits Times, 23 October 1896)
Headquarters of the F.M.S. Railways in Kuala Lumpur (1918/1919)
£1 million in 1896 currently equivalent to approx RM579 million.
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