Always enjoy reading how these complex systems “emerge”. I found this part interesting:<p>> The railways included in the RCH system had increased by 1845 to sixteen, with 656 route-miles of track. The difficulties of obtaining cash settlement between the railway companies and the clearing house, led in 1850 to the passing of an Act of Parliament conferring on the RCH the right to sue in the courts. This ended the trouble and the companies subsequently settled all payments promptly.<p>It seems like just the right amount of regulatory power to get everyone on the same page and ensure the system works.