Abstract

By 1900, local authorities had succeeded companies and voluntary organisations as the major providers of utilities, schools and hospitals. This article examines why the role of companies and voluntary organisations diminished. It does this by comparing the financial results of companies, voluntary organisations and local authorities to identify the differing objectives they pursued. The results show that the priority for companies was short term dividend payments, while voluntary organisations put their charitable objectives first. In contrast, local authorities invested heavily to promote long term growth. Councils also pursued this objective by taking over a significant number of utility companies and voluntary schools.

摘要

到 1900 年，地方当局已经取代公司和志愿组织，成为公用事业、学校和医院的主要提供者。本文探讨了公司和志愿组织的作用为何减弱的原因。它通过比较公司、志愿组织和地方当局的财务业绩来确定他们追求的不同目标来实现这一目标。结果显示，公司优先考虑的是短期股息支付，而志愿组织则将慈善目标放在首位。相比之下，地方当局大力投资以促进长期增长。议会还通过接管大量公用事业公司和志愿学校来实现这一目标。