Portage sentinel. [volume] (Ravenna, Ohio) 1845-1854, 1849-03-28

by the county, IS misunderstood by
some Of tbe voter shhe scoanty !, and mis-.
understood bssasI presented By some e Il
who ought Is ka6 better. Instance, the
communicaaion raaklinsin the senti-
mel TIVE weeks si1 End saseirsing to. convey
the idsa slaat ths eIie IL afss1o be taxed to
pay the subscrip II III Fate Of s45 900
q 8 year q sad
! together with the gIaring falsehood, false.
statement, that Cleveland refuses to coun-
tenance the work, in the face of.the fact that
the voters of Cleveland VOTED year age
TO SUBSCRIBE 100000 DOLLARS to
this Rail Road-these misstatements and
Misrepresentation say, come nodoubt from
the man and his family who of all others in
this county have fattened most on the trade
Of the people Of this county, and of Rayenna
in particular. They have literally swaxed
fat and kicked at those who have mos,
contributed to their abundance. Yes, when
we were blocked in here by mud roads,
with no canals or other facilities to carry
off our produce, but little competition in
trade, they bought our produce almost at
their own prices, and fixed their own prices
for their goods, constantly refusing to sub
scribe to aid any work of public Importance,
until they now imagine their wealth will
have controlling influence to prevent furth-
er Improvements for our benefit.
I hope the people will be no longer de-
ceived in this matter. The communication
of the Board of Directors of the Rail Road
Company, published in thesentinel two weeks
ago, sets this matter right before the people.
BY that it is seen that all that is wanted is
loan OF the credit-the bonds of the coun-
ty, with which the road will be built They
distinctly say "For the stock which the
county is requested to subscribe, the Rail
road Company will receive the bonds of the
county redeemable in ten or more years, Gas
the Commissioners may determine,) which
viii be regarded as payment in full for said
stock; and the Company will guarantee the
payment of annual interest thereon, at six
per cent. for ten years, or until sixty five
continuous miles of the Road is completed
and ready for use. Hence, under no pos
sible contingency can the county be taxed
an less than ten gears, and there is the
strongest probability that the stock can be
sold in any money market prior to that
time, (should the county desire IT'D at more
than its par value" What can be palmer?
They don want our money-nothing but
our bonds payable some ten or fifteen years
hence, when the road shall have been COM
pleted, the profits received and the value of
the stock ascertained.
The question then, after some ten or more
years, recurs on the value of the stock of the
road. If it proves as valuable as others
have, on apparently much less promising
routes, the stock will be source of profit to
the county without our ever paying out a
cent for the stock except county bonds, pay
able some ten or perhaps fifteen years hence.
Provided it is as profitable as the Madison
and Indianapolis road, it will, besides pay
ing the per cent interest, clear to the
county per cent yearly. NINE PER CENT.
on say seventy-fve thousand dollars, will be
$3.50 dollars, to pay our county taxes each
year. But we will do better than that. The
Madison and Indianapolis road does not
connect two great thoroughfares like the
Ohio river and the chain of great lakes. 1t
but extends into the country from the Ohio,
stopping short at Indianapolis, where but
few years since it was but an unbroken
wilderness. 1t connects there with no I'M
portant thoroughfares. Ours will not only
connect two great thoroughfares, but is des-
tined to take the travel to and from the
seaboard of the southern and Middle States
and the great north west chain of lakes
It also connects the greatest coal region
perhaps in the world with the great NORTH
west, where there is little or no coal, ane
also makes Southern outlet for respecta
Bile portion of Cheesedom,
Finally, there can be scarce doubt, tn
road will yield some eighteen per cent sool
after it is completed to Wellsville, leaving
besides interest, some IL per cent. to tn
county, to redeem the principal ere the coun
ty has it to pay, and twelve per cent. pai
on the principal, will sink it all in a ittl
more than s years.
But the best of the, whole matter remain
to be noticed yet, which is the profit to tn
) people in the enhanced value Of land and {
produce in all the region through which
passes. 1t literally brings US to the nea
vicinity of the seaboard market. Hereto
v fore, since our canals have been finished
our farmers have found good markets ;
I every port along the canals; but along IL
Rail road will be far better, for it will