Sentence Examples with the word economic efficiency

The substitution of steel for iron as the material for rails which made possible the axle loads and the speeds of Lto-day, and, by reducing the cost of maintenance, contributed enormously to the economic efficiency of railways, was one of the most important events in the history of railways, and a scarcely less important element of progressive economy has been the continued improvement of the steel rail in stiffness of section and in toughness and hardness of material.