The Davenport gazette. [volume] (Davenport, Scott Co., Iowa) 1841-185?, 1850-03-28
nEn1r rn1r cI.AIRE HANDDILL.

We have seen nat'ooW ssk"eu " NAsse
sommer,. Smith and Beleher, who say, they have
been appointed committee to reply to such ar
euments as might be offered in favor Of Scott
county taking 900 stock in the Rock Island
and Lasalle Railroad Company.
The committee start out by saying that they
have ssseen or heard no good reason,'' why TINS
should be done and immediately Afterwards they
say, that the friends Of the measure say that be-
cause this Road can be built so rery cheap, and do
90 much more business than any other Road IN
the United States it will declare dividend Of 50
per cent. Now The friends Of this Road nerer said
80; they have said, (and nobody doubts ~ that
the Road could be built gerry cheap, that nature
had done much towards the grading Of It, and
that when completed It would be source Of IN
calculable advantage to our county, and that WIN
the same amount Of business which enabled
Road costing $4,000 per mile 10 declare ad'v''
dend of 8 per cent, this Road costing only SlO,-
900 per mile, (and its enemies admit that It will
not cost morel must declare annual dividends o.
80 per cent, and yet The authors Of the handb,i
call this visionary. They say again that caplfa''
lists on the line Of the road refuse 10 subscribe
but urge the county to take the stock. We can
no, speak for other countless but do most emphat-
icaly say that il is not true in relation to Scott
county; the largest taxpayers in this county are
the men who have subscribed the greatest amount
of stock, and are anxious to be taxed in addition
to secure The construction oflhis road. So much
then for that assertion.
They next ask why do not capitalists take this
stock at once! and answer it BY saying that they
are afaid that IT will not pay. Now the fact
that our own capitalists have subscribed, many
OF them literally and that eastern capital has not
vet been solicited lays this last objection on the
shelf with the first. But say they, capitalists
know, yes kaor, (mark that that the Mississip-
pi River must alrays be the outlet for the pro-
ducts Of this country and in the very next SEN
tence tell Us that the Chicago and Galena Railroad
will do all the business for Northern Illinois and
Iowa as far south as Camanche, and that Rail-
road is to be built from Oqnawka to Peoria and
all the business from Muscatinc to keohuk will
be done upon Aa, Road. Well, but Giend hand
bill what becomes Of the "Grsat Ontei' for The
products Of the country that capitalists "know''
about, and the knowledge Of which prevented
them from taking stock in this Road. Why say
you, that is to take what is left between Canaan
che and Muscatine. Oh. that's The whole coun-
try is it. or at least it is that portion Of it whose
productions will not bean transportation on Rail-
roads, but are particularly destined for the pat
ronage OF this s;sseGt out,ci.'' The document be-
fore US, quotes from The Hon. Thomas Aliens ST.
Louis speech, to sustain the position which they
have assumed. To Allen they have appealed, to
Allen they shall go; he says that the Madison
nualIy, that it accommodates the farmers with
good and sure market and has moe Maa doubled
The talue Of their farms, and increased the taxable
property OF the State SIS 100000 Now the
handbill processes TO quote from Aliens speech,
the above is in the speech and yet it as not IN tie
handful. Allen in his speech and all other sour
ces of Information, say, that the profits Of the
Madison Railroad is fifteen per cent per annum.
The committee without quoting any authority,
and contrary TO all other and better information
reduce it 10 nine per cent.
The handful is addressed s:To the Voters Of
Scott county, We say, let the voters look at
that speech, and then al the handbill and they
will be very certain to vote s.Subscripfion.''
The next effort is to prove thai when the $780,
900 have been expended and the snper>tructure,
bridging, &c., is completed we will be unable TO
procure the rail and consequently must lose what
has been done. Now every person must at once
see that this is bare conjecture unsupported by
facts or probabilities.
Then comes abored calculation 10 prove that
at The end Of years, Scott county by subscribing
1000 stock viii be S3l 1886 30 in debt, and
there stand the innocent figures, (who would not
if left to themselves do anything wrong) endea-
vorins to make the ''worse appear The better rea-
son" The facts in reference 10 this matter are
about as follows:
ist yr. nstalment. Of pr. ct. each is $4,000
I'd "'8 do 4" 10000, 90
81 I" 9 do 700
Making the whole amount Of stock So. 0oO, 90
And this is about the way and the proportion
which will be asked for each year. No Ponds
will be issued or used until needed, and OF course
bear no interest until issued and used Then a.
gain the rate oil interest will be but per cents the
law of Illinois in reference to this matter and the
condition upon which we vote for the subscrip-
ton Of stock, both fix the interest at per cent
The payments of interest will be as follows:
LIST yr. Int. on $3.50 at per cent is S225, 100
"a :" 1880 =" $500
30 2',ooo 100000
Whole amount Of Interest, S2.55OOO
Which interest has to be paid in one, two, and
three years. Ifit is thought advisable to levy an
additional tax TO pay this interest, the increase
will be as follows: IA cents on valuation of
500 worth Of taxable property for the first year.
ga cents on the same amount ofprope,ty for the
second year, and 42 cents for the third year.
which is an average Of about 6 cents each year on
Sloo valuation, very large majority OF the tax
PAYERS would not be required to pay over 30 cents