The daily crescent. [volume] ([New Orleans, La.]) 1848-1851, 1851-03-03
The Railroad Spirit.

Gov. Jones, in his speech of Saturday night, was
much more practical than in his first speech. He
entered more minutey into calculations to prove the
advantage New Orleans is to derive or rather RETAIN
by the construction of the Memphis Road His ar
gument is simply this: Northern Alabama and Mis-
sissippi raise 250 900 bales of cotton. The compile
ton of the railroad from Memphis to Charleston,
gives them the choice of markets. They will pre-
fer New Orleans, as the better market, and the
cheaper conveyance. This we believe is true
But the ssestion wish discussed is, which is
the better investment for the half million of New
Orleans-the completion OF the Memphis or Jack
son Road? Such is the want of active capital
here, that every dollar Withdrawn is felt; and our
citizens should act with great prudence in the
premises. Have money to invest in both
Our own impression is, that New Orleans will be
more directly benefited, in roads which lead di-
rectly from the cotton fields and sugar houses to her
own door. Suppose the road completed to Mobile
and New Orleans, which route would the planter
prefer--the road which leads to Memphis, and
there transfer to steamboats,, then another hand
ling and drayage at New Orleans or the route
which would deliver his cotton at once at the cot
ton press The neater condition of the cotton
would pay the difference; then the item OF insurance
would be much less. railroad from New Or
leans to the Ohio, will be of much more advan.
tage to this city, than railroad from Memphis to
Charleston.
But we say aid both, il possible II the city
will take stock, then no money will be diverted
from its present employment. 1t may be answered,
that former experience will deter our citizens from
| any such investments. We think not because
| schemes projected on fictitious banking capital,
failed years ago, when the most reckless extrava-
gance reigned, it does not follow they should fail
now. Ten years have diminished greatly the cost
of roads, and increased the capabilities of the
country to sustain the roads, when built.
The cily of Memphis, with population of IL, 600,
has subscribed $500 900 The city of Charleston
has taken similar amount in the Nashville Road
Is it said that the credit of New Orleans il at
low ebb! One reason for this is 10 be found in the
opinion, that the commerce Of the city is on a de-
cline. But when the resources of the roads are
known, and it is generally understood that the city
is to increase lis business, there will be no difficulty
in selling the bonds. The interest on the debl
would be met from the revenue of the roads, and
the principal paid off as the bonds matured We
fear that unless the city undertakes it, there will
not be decided action.
In April, there is to be Railroad Convention
held here, when these subjects will be canvassed,
The wise men, who framed the Constitution
prohibit the State from aiding in any work of
the kind. Virginia and Missouri have, during the
present winter, subscribed millions to their roads
But our Convention much more democratic
Than those States.
The Constitution of 1915 is the most notifying
evidence of want of confidence in the capacity and
virtue of the people. Every clause in Cons,il,l.