Legitimising programmes of government by means of accounting. Promoting a railway system in the Grand Duchy of Tuscany: the Leghorn-Florence Railway (1838–1841)

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ABSTRACT Combining private initiatives with public interest was a defining feature of nineteenth-century European economic policy, particularly in the development of railway systems. In the Grand Duchy of Tuscany, Robert Stephenson – renowned as the ‘king of the railways’ – played a pivotal role in advancing a railway network linking Leghorn, Pisa, and Florence. His report, emphasising financial feasibility, strongly influenced the government’s decision to prioritise private capital and management for this transformative project. Governmentality and research into legitimisation strategies further our understanding of the interaction of political discourse, banks and investors interests, local communities’ aspirations, cultural élites and bourgeoisie consent for the project of such a railway system across Tuscany. Based on governmentality and legitimisation theory, this study demonstrates how accounting practices, represented by Stephenson’s report, legitimised and drove the railway initiative in the Grand Duchy of Tuscany, aligning political objectives, investor confidence, and community aspirations. By revealing the strategic use of financial data to shape consensus, the research provides new insights into the political impact of accounting and its critical role in fostering infrastructure development in Tuscany.