Boosting Railway Construction in Spain: A Primary Source Law Text

TYPE OF TXT: Primary source

As regards the form, it's a law-legal text/terms for economic text

AUTHOR: Libe progre Governmnt, at the proposal of ministry of development+approved by Cortes+Isa2 (queen)

ADDRESSEE: All the Spaniards, so it is a public text

Introduction

OBJECTIVE: Attract foreign capital to boost the construction of the railway in Spain

LOCA+DATE: Aranju, published in "", located in process of "Vicalvarada" to Progre Biennium 1854-56

Main idea: Boost the construction of the railway in Spain and the need to attract foreign capital

Introduction: The law approved in Cortes is ratified by Isabel II, Queen of Spain

Articles:

Their object is to regulate the general service of the rail network.

4,6: Explains to whom corresponds construction of general railway network (the government, individuals or companies that have been granted)

30: Gauge width, 1'80m

8,19,20: The aids given for construction of the railway network are specified.

8: The state, to ensure that the general works are carried out, offers companies public funds

19: To attract foreign capital, legal protection is established

20: Facilities given to national and foreign railway companies are specified: right of land dispossession, usufruct of lands, power to open quarries in adjacent lands, while works last and next 10 years (abolition of tariffs and import taxes on construction materials for railway construction)

Politically text placed at the time of Isa2's reign (Progre Biennium 1854-56)/that time financial system created (Bank of Spa47) - unified tax system (except EH)/progre bi started with Vicalbarada (small military revolt Madrid) - defeated - provoked more revolts - new elections (progres won)/New progr consti (Non-nata)/main obje: open Spa to new business and modernize country - new corporate laws (Railw lw-best examp)/Previously development of railway in Spa-very limited: orography, backwardness, political instability, wars... Madoz disent accepted 55 - gave impulse to construction of railway network couldn't have been made earlier because: Low capitalization (develop process of disent of Madoz and its conseq-dependence on foreign capital), Spa steel industry damaged (foreign import), Inadequate layout (based on political criteria, the layout-radial, taking as center Madrid-most economically dynamic cities like Bilbao-isolated), bad decision taken about the track width (15cm wider than European) - Spain isolated, Inadequate concession system 56-66 Spa railway network developed Crisis of 66-influenced paralysis of the process (government budget problems - depreciation + collapse of Barcelona banking system)

With disent, this law-1 of main efforts made by progres libes to improve infrastructure of Spain, thus, achieve integration. State shortages clear: lack of capital and need to attract foreign investment, but in an inadequate way. Problem after problem, bases of modernization are put and they will have their direct influence in the promotion of the industrialization of the time of the Restoration. Conclusion