The policy of speculation - an introduction to the British and French investments in tje Portuguese railway

Abstract

The re-establishment and consolidation of peace during the first government of Saldanha, in 1851, and the adoption of a railway freight policy cleared the way for foreign enterprisers and speculators to require railway concessions in Portugal. The British and the French led this movement and the rythm of the national railway development during the second half of the 19^th century. The Anglo-French «financial alliance» following from both the nature of their investments and the mobility of their financial resources is the object of this article.