Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1851-12-04

GREAT RAILROAD SCHEME. We find
in the Washington Union, where we pener
ally expect the earliest intelligence of any
new device for turning the public funds 10
individual account, project suggested
which makes the Ebony line enterprise and
the scheme for exploring Symme's Hole,
shrink almost into patriotic proportions. IL
is propounded by three of the most immac-
ulate and seIi-sacriicing patriots in the Unit
ed States, who have addressed the following
communication TO suudry railroad compa-
MES IN esse and in posse, in which they are
told how, tor consideration, railroads may
be built and sustained without the expen-
slye and dilatory process of collecting any
money for the purpose beforehand.
WASHINGTON, Aug. | 1851,
Slr-Aiier consulting many persons inter-
ested in the principal railroads in the Unit
ed States, the undersigned propose to estab-
lsh agencies in this city and in New York
for the purpose of collecting full and au.
thentc statistics, and such other inlorma-
ton as will enable them to serve persons de-
slrous OF investing in railroad securities, or
TO procure Information of any matters con-
rested with the construction and admins
haiion OF railroads. The also propose espe-
cially to urge upon Congress modification
/ OF the laws relating to contracts for carrying
the mail, so as Ia authorize the Post Office
Department to contract for the perpetual use
OF railroads, aud instead of paying as NOW,
quarterly ON contracts for four years, to ad
vance ia five per cent bonds of the Uni,ed
States, chargeabe upon the revenues of the
Post Office Department, an amount the in
lerest upon which at six per cent. would e.
quail the payments now made.
The government now pays $500 per mile
for carrying the mail on first class railroads.
This IS SIX per cent on $1,000 The UNDER
signed would urge that instead of paying
SjOO mile per annum, the department
should deliver on contract in perpetuity,
five $1,000 bonds, bearing an interest of five
per centum. Al this rate, the charge upon
the department would be reduced from $500
to $3.50 a mile per annum, and the $50 per
mile saved would create sinking fund
which will in a few years pay off the bonds,
and give the use of such roads forever there
after tree OF all charge thereby eiiectlng
a vast saving in the present annual expendl-
lures of the Post Office Department, and a
consequent reduction of the present rates of
I postage.
/ The effect will BE no less advantageous
to rail road companies than to the govern
ment. For instance, such contract would
/ give 10 the Baltimore and OHIO Railroad
Company more than - 900 900, which
would enable that company to complete the
road at an early day, aud greatly increase
It's business and profits.
Bun to meet objections, and impress the
public with proper sense of the benefits to
result from this measure, will require con-
cert OF action and continued active effort
through the press and otherwise. The un-
derslgned tender their services to your COM
pany, expecting a reasonable compensation,
partly contingent upon the success Of the
measure, aud respectfully suggest the pro-
pretty Of your sending one or more delegates
to this city, on the first Wednesday in De-
cember next, 10 confer with delegates from
other railroad companies, as to the details
of the proposed arrangement, and the best
mode of bringing the subject before Con-
gress.
Should it be your pleasure to accept Of
our services IN tins matter, We Will attend To
all other business which you or your compa-
ny may have with the Post Office Depart
ment, or other branch Of the Government
Hoping To hear from you at your earliest
convenience, We are, respectfully. your ODE
dent servants,
DUFf GREEN,
BEN. T.. GREEN.
RICHARD ii. CLARKE.
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