Ypsilanti sentinel. [volume] (Ypsilanti, Washtenaw Co., Mich.) 1843-1900, 1846-02-25
For the YpsilaDti Sentinel.
AN EXAMINATION OF THE QUESTION OF
A SALE OF THE RAILROADS.

A SALE OF THE RAILROADS.
| Whoever will take view of the condition of our
State, as presented by the Reports of the Commit
tee of internal Improvement, and the Committee of
Ways and Means of the House of Representatives,
and the facts presented in those reports with
candid and dispassionate view of the probabilities
of the uture will, we believe, with in the
opinion, that we have reached most critical juno
ture in progress, and that upon the descision
which our Legislature must now make, will depend
for years. and perhaps for all time to come the pros
perity of our State and her relative consequence
member of the union. 1t is point that must be
conceded, that the state is unable, progress far
ther with her works of improvement, or to meet
her liabilities in any other way than by sale of the
roads, if we halt in the slough where we are, the
mount we have expended must perish and become
useless on our hands, leaving us no other prospect
than nterminabe taxation to pay for the dead horse
while our southern neghbors will profit by our mis-
fortunes, by line of road from the southwestern
termination of lake Erie, to the head of Lake Mich-
gan to connect with the Michigan and Illinois ca
nal, will place far in the back ground, in re-
spect to our roads, to make hopeless and
irretrievable far this source of relief can be
looked to. Let us suppose that reject the prop
osition now before the Legislature, and determine to
retain roads in possession of the State-our
financial condition in that case is thus described in
the report of ways and means, Page to 10.
.With debt of $4,000, resting upon our pub
lie works for iron-wth $4,000 of treasury notes
yet to be absorbed, and $4,000 upwards of back
interest to be paid on old internal improvement war
rants, with about 100000, absolutely required du-
ring the current year over and above the ordinary
running expenses for essential repairs and addition
tional locomotives and cars. With the reconstruc-
ton of portions of the superstructure of the Rail-
roads, and heavy sums for iron in prospect, we
come to the inevitable conclusion, that the income
of internal Improvement resources, will not pay
dollar of interest for years upon the internal i'm
provement debt
The items here enumerated that must be paid for
the purpose of keeping roads in operation amount
to S426,600. The amount required for iron and re-
pairs of superstructure cannot be less than 100000
more, making total of $626,6o0, that must be paid
the current year, enable theSate to keep her roads
in operation without resorting to the dishonest and
dlsgraceful alternative of reputation.
Ii we mad not lnterposed CONSTITUTIONAL odiIiei,
to keep our Legislature from making further loans,
and these by swindling and plundering the State
the bad faith in which the public obligations have
been thus far regarded by affairs would be an eff
fectual bar against our obtaining another oan What
then can be done under our circumstances? Ii we
retain the roads and attempt 10 them under such
embarrassments, we can only proceed by encoun-
terng still greater embarrassments and losses of the
most ruinous character, will augment our state debt,
and compel us in the end to abandon an undertaking
that can only be pursued madness and desperation.
Taking advantage of our embarrassed and disgrace
full condition. southern neghbors, we have al
ready suggested, will find strong inducements to at
tempt the accommodation of the wants and demands
of the public, that must very be met, by road