London's tube system is a marvel to behold. It is the world's oldest – the Metropolitan Railway first opened in 1863, while the first deep line, the City and South London Railway (now part of the Northern Line) opened in 1890. But by the end of the 1940s, the tube was getting congested. A new line was proposed that could relieve congestion in the centre of London, and would run between Victoria and Walthamstow.
A trial tunnel was built in 1959, and construction began in earnest in 1962. The 21-foot diameter tunnels were dug into the buttery clay beneath London by hand. Progress was slow – they managed just over three metres a day. By contrast, the latest tunnel boring machines used in London's newest underground line – Crossrail – managed 38 metres a day.
But by 1 September 1968, the first section between Walthamstow Central and Highbury & Islington was ready to open. There was no ceremony, no pomp; the first train just trundled out of the station at 6:30 in the morning. On 1 December 1968, operations were extended to Warren Street. But by 7 March 1969, the new line had reached Victoria Station. It was time for an official opening.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
So the Queen made the short journey from her house in town to Green Park station, where, surrounded by palace flunkeys and the world's press, she “bought” a ticket, rode the escalator down to the platform, and stepped into the cab of a waiting train, which whisked her the two stops to Oxford Circus. It was only the second time she had ever been on the tube. At Oxford Circus, she got out of the cab and returned to Victoria in the train's carriage. At Victoria, she unveiled a plaque. The Victoria Line was officially open. It reached its final destination, Brixton, in 1971.
-
The fastest and slowest places to sell a home – where does your area rank?Average time on the property market before selling a home can vary from 19 days to 62 days, depending on location.
-
Who won the £1 million jackpot in the May Premium Bonds prize draw?NS&I has announced the winners of May’s Premium Bonds prize draw. Who won the £1 million jackpot and how can you find out if you scooped a prize this month?
-
31 August 1957: the Federation of Malaya declares independence from the UKFeatures On this day in 1957, after ten years of preparation, the Federation of Malaya became an independent nation.
-
13 April 1960: the first satellite navigation system is launchedFeatures On this day in 1960, Nasa sent the Transit 1B satellite into orbit to provide positioning for the US Navy’s fleet of Polaris ballistic missile submarines.
-
9 April 1838: National Gallery opens in Trafalgar SquareFeatures On this day in 1838, William Wilkins’ new National Gallery building in Trafalgar Square opened to the public.
-
3 March 1962: British Antarctic Territory is createdFeatures On this day in 1962, Britain formed the British Antarctic Territory administered from the Falkland Islands.
-
10 March 2000: the dotcom bubble peaks
Features Tech mania fanned by the dawning of the internet age inflated the dotcom bubble to maximum extent, on this day in 2000.
-
9 March 1776: Adam Smith publishes 'The Wealth of Nations'
Features On this day in 1776, Adam Smith, the “father of modern economics”, published his hugely influential book The Wealth of Nations.
-
8 March 1817: the New York Stock Exchange is formedFeatures On this day in 1817, a group of brokers moved out of a New York coffee house to form what would become the biggest stock exchange in the world.
-
4 March 1519: Hernan Cortes arrives in Mexico
Features On this day in 1519, Hernan Cortes landed in Mexico before marching on the Aztec capital, Tenochtitlan.
