The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1844-06-07
For the Spirit Of Democracy.
6 NO, Nv.

For yhe Spirit Of Democracy.
No. Nv.
MR. EDIToR:
/ The making of railroads, canals,
turnpikes &c is commercial specua-
ton which should be left to the enter
prize, industry, sagacity and avidity OF
individuals and companies. A Gov
ternment dealing with individuals is
always cheated. The experience Of
this truth has been so universal that it
has passed into maxim. Even the
monarchies of Europe form no excep-
ton to this rule. The reason of this
lis to be found in the fact that the
individual manages his business un-
der the full influence of the spur Of
private interest, while the public is
represented by agents frequently care
less, ignorant and incompetent, and al
ways destitute of the stimulous of pri-
vate interest. What then must be
thought of the policy Of that system
which, not only engages the State in
purchasing lands, impliments and ma
chinery together with the services of a
host Of Superintendents, engineers.
contractors, laborers and other agents.
but even makes it partner in numer-
Gus instances, in the widest and most
absurd speculations.
The doings Of the Ohio railroad
company viii afford an example Of
the working of this system. The line
of this road was laid out from Manhat-
tan in Lucas county along tine borders
of lake Erie, to Conneaut in Ashtabu-
la county, distance Of 1T miles, a
great portion ofthe way through woods
and swamps.
This company availed itself of the
terms of the Act commonly called the
Iplunder law, and the way Ii succeecea
IN fleeing the State is and was cuRI-
Gus to consider, and ought to be eau
ton to the People, in all time to come.
BY the terms of the law in question.
the company was entitled to a subscrip-
ton by the State equal to one half the
amount subscribed and actually paid
in by the individual members. To pay
over money honestly and fairly does
not comport with the views of Specu-
lators. The directors therefore open
ed their books, took subscriptions, and
received a small amount of money,
say twelve or thirteen thousand dollars,
from the ignorant gudgeons, who were
not aware of the grand game that was
going to be played. But the gentle
men acknowledge paid their subscrip-
tions in LAND. At what price do you
suppose gentle reader? Why at the
moderate price of from one hundred to
fifteen hundred dollars per acre!!!-
One tract at the rate Of $l,s38,O8 per
acre. Having paid their subscriptions
in this manner, the directors reported
the amount to the State-lreasury, as
so much subscribed and actually paid
in, and drew therefrom, at different in
stalments, the sum of 2hundred & for
ty nine thousand dollars. Then they
reconveyed their lands to the know
ing ones. taking in payment the stock
Of the company, so as to make the
swindle on the State and the rest of
the stockholders complete.
Then being rich, they betook them
selves to the business of banking and
forced an immense amount of their
worthless trash into circulation, it soon
deprecated, Of course, was bought in
at discount and at the last accounts
more than THIRTY FOUR THOU
SAND dollars remained altogether un-
redeemed and SO were likely to remain.
About this time the bubble burst. A
bill was introduced into the assembly
last winter to secure lien on the en-
gines, machinery and fixtures of the
company, for the advances of the
State (amounting by means Of interest
to more than $3O0,o0oD but it was dis
covered that they were all mortgaged
to preferred Creditors.
In short no man would walk across
the street for the interest of the State
in the Ohio rail road, it was believ-
ed not to be worth one copper.
Fellow-citizens, is it for such pur-
poses as this, that you pay your taxes?
viii you any longer give countenance
or support to such a systemf Do you
not agree with me, that as ancient ty-
rants prevailed by force, so modern
spectators prevail by fraud.
q OSCAR.