State borrowing and sinking funds for the redemption of state debts, regarded from an economical point of view -Part 1

Since the year 1842 the six states of Australia have practically entered into partnership with foreign capitalists in this important work of providing railways, roads, bridges, harbours, in advance of further settlement.
The following is a brief statement showing how this large amount of borrowed capital was invested by the states.
The largest amount of money was invested into railways and tramways, the second largest into roads, bridges, lights, harbours,etc. The third largest itno water supply and sewerage and other public works and services were also high on the list.
Has Australia benefited by this Borrowing of £240,149,727, or, what may be more properly termed— Taking into Partnership a Foreign Capitalist in a profitable undertaking?