The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-03-09

eept.on sftweAn>hs IN pzics. Now, let ne - what
n the result Of this. The gentlemen on the other
town, and persons working down town. II is true
that property has become 80 valuable In New York,
that person receiving small salary cannot live
with any degree Of dccency at all IN the lower part
OF the city The consequence is, that they have to
60 up town to reside and come down town to work.
And when these persons ride on this raroad-at
which these two gentlemen are at the head who are
worth more meney than would be able to buy Messrs.
Stewart. Haight 4 Co:-they have to pay two cents
fare each way more than they wsuld have had to
pay bad the grant been given to those who offered
70 make the fare three cents. Well, this extra
charge of two cents each way is not much for persons
in the country, who only ride occasionally, nor is it
much for a man in good circumstances, but 1t is
consideration to poor persons in the CITY, when q
man has to pay two cents down and two cents up 1t
robs him Of the four fths of loaf Of bread for his
family. That is . tax paid 10 these very rich toll
gatherers of fourths Of loaf Of bread daily, from
every workingman residing up town. And II we
should so further in our calculation, and that this
man had to continue his riding all the year, what
would be the RESULT He would have to pay during
the year to these very rich $l2 IS more than he
should have paid. This tax would come Oh every
poor man who comes down town, and works for dol
TO- frequently in the sewers aud digging In the cellars,
and tearing down the palaces Of these very rich men,
and being often killed in tie operation and they get
xass' tS sum e u.s. this
pays in the year to the toll CATERERS on Broadway.
would Just pay his quarter rent. Now, every work
ingman who rides this road, Is compelled by this
very discriminating Common Council to pay to this
railroad company quarters rent, and foity-eight
cents over and if you carry the calculation further
you will find that these men have got to work in
their sewers and cellars through all kinds OF weather.
twenty four minutes every day through the 3l2 days
for this company headed by this very rich man or,
in other words, that he has got to pay about four
times as much tax as they generally have to pay in
entire earnings of laboring man are required to
support these gentlemen running that road on Broad
| way. Now, this grant may be valuable, or 1t may
not be but it is the general opinion in the city Of
| New York that il is worth two millions Of dollars
under the hammer. 1t may be that 1t is not 80.
know gentlemen who would give that FOR il |
would not; but still that is the prevailing opinion in
the city of New York. There il is looked upon as
the most stupendous grant yet given IN this
country. No grant given by the general
government which approaches the magnitude Of the
grant which has been made Of the Broadway Railroad.
| At this stage Of Mr. French's address, the com
mittee adjourned till 10 o'clock next morning.
Albany, March 3, 1853.
MORNING SESSION or THE COMMITTEE.
Mr.. French resumed his argument. 1t may be as
well, gentlemen, he said while recoiect il. 10 state
that in my remarks last evening in respect to the
| Common Council, did not intend to be understood
as charging every member OF that body with mai
| practice. There are men among them for whom |
have the highest regard, whose characters are not
only above Teproach but above suspicion bnt Of the
rest suppose entertain about the same opinion as
the other citizens OF city. Their acts speak
as to their general character than anything say,
| have kind Of interest whatever in this railroad.
am not Of those who have received this railroad
grant Oh the other side; neither am associated with
those gentlemen who have applied for it. ! do not
desire to get into the railroad business, for the sim
pie reason that do not understand it. | am satis
| fed with the business in which am now engaged;
and if grants for railroads should be given out
fair and proper principles, persons would not be de-
siIous Of leaving those walks OF lie to which they
| have been accustomed to 90 into the business OF
! railroads 1t is only such valuable monopolies as
! this which would induce persons to leave the pro-
LESSONS in which they have made fortunes, for one
with which they are totally unacquaintcd. have
not come here TO advocate the cause OF the opposing
applicants for the grant, for am as much opposed
to the idea Of Mr. Stewart and Company having the
monopoly as am to Mr.. Sharp aud Company having
it. If railroad is to be built III Broadway let the
grant be given to the company who will pay the most
for it into the city treasury and run the line at the
lowest fare. There has been great deal said in re-
spect 10 the want OF faith in the offers made by
Ncssrs. Stewart and others in their application for
this railroad grant Now, sir, appears to me that
the very value of this contract alone is sufficient to
prove that their proposal made in good faith.
stated last night that this contract was worth two
millions Of dollars under the hammer and instead OF
overrating its value, have since understood that
moderated it, 1 will venture to say that can bring
here parties who viii give two millions of dollars or
this contract the very moment it Is granted IL trans
| iered to the parties may name The value OF that
DAD has been calculated and will read the results
1t was found, on calculation taking the Sixth Ave
nue. road, ION which they allowed to charge five
| cents fare, and which runs IL or IA cars az the
basis, that the 100 cars which these grantees OF the
railroad ray are required to convey the passengers IN
Broadway, would yield as follows: (the SIKH avenue
cars exceeded tn iy dollars per day at the time this
calculation was made-when they had just com.
menced operations: it therefore may be considered
safe for Broadway, which rs far more populous)