Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1853-08-04

OBTAIN return IN dividends. They have hiph.
or and nobler end to bring together in one bond
OF brotherhood this whole American people and
unite them as one family. These lines Of road
tend to bind this Union together in bonds which
can never be snndered. and will make this nation
such as never before trod the earth. This pat.
rotc view of the matter has led many men TO
encourage these projects. Vermont has true
patriots who encourage the creation fostering
and promotion OF these lines Of internal commu
nication with her sister States at the same time
that they are promoting the interests of their own
State and people.
What has been the experience in n. York
There Is the New York and Mohawk Railroad
built IN 1929, which was the commencement Of
a line that in 1853 has capital Of S35.OO0.OOO
capita which was put into it by the enhanced
value of the products taken out Of the bowels of
the EARTH This corporation was formerly cut
INTO several corporations, each seeking its own
interest, under its own management. At one
time the stock Of the New York and Mohawk
road, which was II miles long and cost from
81 lOOOUO, to Sl,2O0,00O, was at 90 per cent
advance 1t afterwards went down to $50 per
share, and was considered wothess at that. As
part OF the consolidated line, into which it was
put at S5J or 500 a share, 1t is now good div
dend stock, and sells at % per cent. advance.
Many have doubled their capital during the
last three years. At the same time the fare from
Albany to Buffalo has decreased from - 10 50
and from Albany to Schenectady to from 30
cents TO 81. There had also been similar re-
ducton in the rates or freight. The saving Of
expenses IN working the road under one head
has been nearly 331 per cent. Similar results
had been obtained IN Europe. Let us try the
experiment put this line together under one
Management, and there will be a saving of two
hours time between Boston and Montpelier
lower rates OF fare, and an increased business
Look at the West. | say that we cannot
make the business from the West pay under our
present system without increased rates for
freight. Remain as we are, and our present
rites viii not pay because We are eating up
what we get IN expenses
Within one year Of the passage Of the act
contemplated m the resolution. we shall see this
line Of road earning at least an increase of 30
per cent, and bringing up these almost dead
corporations to handsome premium an every
share. lie spoke advlsedly on this subect--in
the iight OF y years experience and study ofihe
operations of railroads lie hoped the resolu-
ten would be adoped with a unanimous AYE.
Mr. Campbell OF Lebanon, while he would not
oppose the project Of Mr.. Crane, wished 10 call
the attention Of the meeting TO some Of the diff
culties attending it lie thought il to be a big
operation, not to be entered upon rashly lie
thought there would be a difficulty in carrying
ont the object under the laws OF the different
States IN which these roads are located. lie be-
heyed the time would come when there would
be a general law to obcrate this line under. but
1t ha- not come yet Fhe thing now TO be done
is for the roads TO show that they can unite har-
mOnlousy with each other Until that is done.
the Legislature would not sanction q union of
the corporations. lie believed the business Of
the line could be better accumulated by local
boards controlling the whole line.
Mr.. Crane replied that nothing hod been adj
vanced 70 change bis views as formerly express
sod. When the people will that this measure
shall be CARED QUIZ then the legislature will grant
the power 90 do SO Another view of the case
he wished 20 present was this. Where is the
man leaving the country fora term Of wears. and
having money 10 invest, viii pat il into one of
these roads while they remain independent cor
poratonss
They don't do 1t, because Of the emergencies
which may arise. Spectators may come in to
advance heir interests, aud may iurn everything
upside down. lie wished TO place il in such a
position that the man of wealth would feel safe
IN investigating his property in it for his chill
dren--and this can only be done by giving it
stability Stability will ensure confidence and
confidence Is the nain-spriug Of success. Place
It so that It VIII not De ia the power Of any dar-
z man to pick II 10 pieces and to break up this
union, and then you will have confidence. Our
own capitalists and European capitalists viii
seek The sioock Cor Investment
Mr.. Lee took the Il or to replv 10 some Of the
objections Of Mr.. Campbell. lie argued the ne
cessiiy of harmony OF acton: and OF the neces-
sIty Of ESTABLISHING the union of the interests of
the stoc kholders with that Of the public pener.
ally. Ii we should succeed in convincing the
Legislature that the general interests of these
roads would be promoted by this union. 1t would
De fairly inferred thal ths local interests would
/ also be promoted for experience has laugh, us
/ that where road is generally prosperoa, It's To-
cal wan are well cared Tor These local re
sources exist andspreseut themselves for accep.
lance all we have 10 DO Is to afford them fac IA
ties FIR deye opement
II the local resources are limited and the gen
/ eral resources limited also, there viii be nc
: means to deyclope the local resources. ANY
T means used 10 deyelope the general prosperity
of the road, would develono tie local prosnerlt,
T also As Illustrating the benefits of union and
harmony in action he alluded To the coniedern-
ton of the States. This pronssed union woult
enable this road TO Pot on its rails great pro
duce traffic of vast importance 10 II. But rhIci
the lower roads, with great local traffic. might
as independent corporations be Indifferent TO.
lie thought harmony was best secured b,
bringing persons together: SO when they should
sit together as one Board of Directors. with a
common interest in all these roads person al feel