The daily crescent. [volume] ([New Orleans, La.]) 1848-1851, 1851-06-07


Thus, think, that during the first year of the
operation of the line, profit of IL per the
estimated cost of the road would be cleared, with.
out considering the increase Of freight and passen-
gers which might be expected
Two modes of raising funds for the building of
this railroad have been proposed, and in both of
them consider there is merit. The first proposes
that the country parishes shall supply one. half Of
the necessary capital and this city the other half
and the other was to raise the money by taxation.
! think that the money raised by voluntary sub
scrip,ion will not be enough to carry the work,
and prefer the system of taxation. 1t is recon.
mended that each parish subscribe for so much
stock, in bonds, bearng.interest at per cent, to
be made payable by instalments in 20 years, and
that each of the parishes agree to be taxed for the
purpose of taking up these bonds. Suppose that
each parish mentioned as having interest in the
line subscribe for 100000 worth of Stock and that
they levy a tax amounting to $4,000 above that
sum, for cost of collection and other expenses. If
this tax and The dividends arising from the line be
appropriated to the payment of the interest and
principal of the debt the whole would be paid of
in II years Considerable advantage would be
gained by the Stale if this road properly made
and IL will be necessary for to see whether the
public agree to be taxed, before we apply to the
Legislature to obtain the right of way, and to put
corporation in trust and possession of SO great
amount of capital. Any law authorizing the
parishes to subscribe and issue bonds, should con-
tain provisions submitting the subject TO the vote
OF the people interested--as, in Government like
ours the will of the majority must govern right
wrong, and nothing of the kind can be safely car
red into effect without the assent of the majority,
and so may it be to the end Of time.
In regard to the saving which this railroad
would effect it was his opinion that it would be
very great for in the article of sugar and molasses
they would save one dollar per hogshead in the
transmission to market. In the year 1S49, the
sugar and molasses manu- factured in that section of
the country, was 10s,O00 hogsheads and on this
produce alone they would save $lOS,OOO The
sugar. molasses, and cotton, with other produce is
worth 50, 1000, at fair estimate, and the Parish
OF ST. Mary, last year, produced $50, 900 worth of
articles The country people would gain by this
road S5l, 200 on the insurance of the freight and
like sum would be saved in the transmission of
freight back again. Why the profit would be so
great, that the saving in the bringing of veal to
market, would almost justify the making of the
road, tor one person that he knew, had sent 500
head to New Orleans, in season. / estimate
that the whole saving to the parshioners of La
ourche and its neighborhood will be the rate of
$4,000, and it will be made up in saving
insurance on tne same. 81. 600
tUnsnran o. back freigh'. 5i0O
'ane OF other articles which then BE- sent to mar.
............... 5000
Total ...........,....................,. $3.50 900
h"o thus this large sum will be added to the
present produce of the country, exclusive of the
increased value given property and various other
advantages. '
"heh 'he subject is well understood, the plan
sar' a"o o'her Inhabitants of the country will not
refuse to be taxed for they will see that eventually
WIN De saving to them of twenty per cent
ana II this railroad goes on prosoerousv. we
eOuia' by an extension of about fortv miles, meet
'"e 'S'if0aa from Alexandria to Bayou Bauf and