I agree with Jereboam - once it's gone it's gone...theres no point making a new copy of an old arch, make something for future generations to admire, show them what we can do in the 21st century 
I can understand both Jereboam's and your point of view BJ, but it has not gone. That is the point, at least 60% is estimated to exist, and it could be rebuilt as part of a new 21st century terminus.
Yes always build new, like high speed railway lines, and landmarks like the Angel of the North and the Horse of the South, along with great new buildings to last (hopefully) for two hundred years or more. But always value the key symbols of the past along with the new. The two can go side by side 8-) 8-) 8-)
Just my opinion as an historian though

totally appreciate where you're coming from lizzie - i used to live in Dundee - a once beautiful city on the side of the Law hill (an extinct volcano) overlooking the silvery Tay river, as one of the main ports of the old empire it had many beautiful victorian buildings that were torn down in the 60's to be replaced by ugly concrete boxes - and it has never truly recovered

i think the 60's era of "brutalist" concrete monstrocities was an error that hopefully we won't repeat (although i doubt it) when out with the old and in with the new seemed the best way - if we lose old buildings and structures we must be very careful what we put in their place which is why i agree with prince charles's constant rants about carbuncles
so dont replace it, thats a backward step, - just think carefully before removing it in the first place, in the future

but if they raise the money privately, then fine (just hope it doesnt end up sponsored by mcdonalds and painted gold

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