The southern press., 1852-01-06
(sy axeUEsr.)
From 6ls .asseyiess Tsiefysph.
CareulaP.
WAsHINGros Cry. DEE IO I

" WASHINGTON CITY, Dec. 10, 1901.
SIR; BY the enclosed proceedings Of u meet
ing held in this city on the Sd instant, it was
II. ade the duty Of the Undersigned, as a commit
tee, 10 correspond with the several r.ilroad cou,
panies in the United States, and to report 10 sn
adjourned meeting. to be held in this city on the
fret Tuesday in March next, to consider pro-
position to petition Congress for change 10 tho
law regulating mail contracts, so as TO enable
the Post Office Department to deliver to ruilrond
companies United States five per cent. coupon
bonds, upon permanent contracts for carving
the mails, to an amount the interest upon which,
at five per cent would be equal to the payments
10 be made under existing laws; and thew
therefore ressect ctfuy call the attention Of your
company to the subject, and invite. nlr eo-opc-
rition They greatly prefer that you should
send delegates TO the adjourned meeting; for
the opinions expressed by convention OF prac
teal men, representing much wealth, enter
prise, aud intelligence, will command, rs they
will deserve, the confidence and respect Of Con-
gress, and thus promote the adoption of such
details as may be agreed upon in convention
but it it should not be convenient to send dele.
gates, we would ask your company TO submit
through us, your wishes and opinions upon the
main proposition, and upon the details connected
ted Herewith
II Is well known that many persons are op
posed to internal improvements by the general
governm cnt-some denying the power Of Con.
gress to make appropriations for that object
others fearing that the exercise of such power
would lead TO combinations resulting in partial
and unjust Legislation. 1t will b. seen that the
proposition under consideration is free from
these objections. II asks no appropriation of
money in aid of the construction Of railroads.
The contracts will be restricted to the service
which the several railroad companies are in con-
d.tlon to execute when the payments e made.
lis true that the proposed modification of the
laws regulating mail contracts will give similar
payments pro rata, as new roads are made and
as cid ones are extended, and will so far increase
the credit and resources OF railrord companies
The same effect, although to less extent. re-
suits from existing laws, and surely i, cannot
be urged as valid objection to the proposed
change that it will aid in the extension of the
railroad system. We claim as merit, thut the
proposed modification will aid in extending the
system, by giving greater value to railroad in
vestmentS. Under existing laws contracts are
made for four years, and the payments are con-
unaed, II not Increased ad dinfnii,in. Under the
proposed modification the contracts will be-
made, giving the United States the perpetual
use Of railroads and the rate of >ompengatiop
is so reduced that, at the end of lhirty.,hree
years, the payments will cease, and the depart.
ment will forever thereafter have the use of such
railroad free Of all charge.
II is objected that old routes may be super
seeded by new ones, and the present service so
diminished as to render it nexpedient TO mike
permanent contracts ut the rates proposed It
has also been objected that railroads now in use
may be discontinued, and that such railroad
companies cannot protect the department from
loss. We answer these objections by assuming
that the contracts will be made by board ap.
pointed for that purpose, and that no contracts
will be given unless that board be fully satisfied
that mail service adequate TO the payments will
be amply secured to the United States
We desire TO obtain the views of your COM
pnny upon these and all other matters of detail,
and respectfully ask OF you to furnish us such
statistics as will enable to submit to the con-
venlion and to Congress statement showing
the comparative Increase or diminution, as the
case may be, of the mail service performed by
your company--the past, and probable future
increase of the weight of mails carried over the
route of your road And in this connexion we
wish to learn what. in your opinion, will be the
probable increased weight of the mails, if news
papers and periodicals are sent free Of postage
We wish you also to state what is the pres
ent current price of your shares, what rate of
dividend does your company now pay, and what
dividend could you ay under contract snch
az we propose
The committee venture TO invite the cooper.
alton of the railroad convention to be held in
New Orleans on the first Nc crday of January.
and that the newspapers in the South and West
will urge upon all those who are interested in
railroads or in the extension of the system
favorable consideration Of the measure proposed,
and the necessity of prompt and efficient co.
operation. In behalf of the committee.
DUFF GREEN, Chairman.