The Jeffersonian. [volume] (Stroudsburg, Pa.) 1853-1911, 1853-08-04
Why not Sell the Public WorLs I!

our public works shall not be sold, our
debts paid, and our burthcn of taxation
removed Here is an argument for the
other side, from the Philadelphia PuJyic
Ledgcr.
No proposition has as yet been made
which viii SC demonstrably alleviate US
Of a portion of cur burdens, as the sale
Of the Main Line of Public Works. cx-
tending from Philadelphia to Pittsburr.
a bill fer their sale for the sum Of fifteen
millions of dollars, was introduced into
the last Legislature by Mr. Strong, Of
Phlladelphis; but owning to tie late hour
at which it was brought forward, and the
opposition from quarters from which it
was 10 have been expected, it was not
acted upon. 1t is proposed to show, in
this communication, the past and present
unproftableness Of the Main Line of
Public Works, and the great gain of the
State in the event of their sale.
The Main Line was finished between
the years 1880 and 1888; thus having
been in operation already over twenty
years, The cost Of construction, accord
ing to the Canal Commissioner Reports.
was Sl5,o5G,077 The money borrowed
for constructing them was obtained at 5
and per cent.-avcrage about 81
Therefore, in order to pay the interest Of
the money thus expended upon it, the
line should have made net yearly divi-
dend Of about 2S25,0OO. But what has
been thc fact? Has the line paid an a.
mount anything like this? Far from it
The total nor revenue received from the
line, up TO the beginning of the present
year, amounts to S., ,524 500. Supposine
the line to have been in operation for
twcnty-onc years, this would give a year
y average income Of &263, ,072; or about
! per cent. on the cost of construction
Had the works paid per cent. in twenty
years the income would have cQualIed the
cost, fifteen millions Of dollars, instead OF
being ten millions less. 50 that while the
works have paid only near six millions.
the people Of the State have been Obliged
TO pay ten millions, rs interest on the mo-
ney tor constructing the line. Whilst
the works have paid but + 4 per cent. the
people have paid from their own pockets
over , per cent. Instead of receiving an
average net income of bu: 8263.0OO, We
should have received about2S00, eco year
", in order to meet the interest on the cost
Of construction. And thus have we been
obliged TO pay nearly $3.50, 600 yearly, |
to keep up these improbable works. How
have the glittcriug prospects, that were
at FIRST held out, Of a line of improvements /
paying their own cost in a few years, and +
eventually relieving the people of the
burden Of taxation, been dashed to the
earth. and how have not the people been
made to suffer the weight Of heavy. op-
prcssivo taxation
But It may be said, that now when tie
public works are Just beginning TO pay,
it would be folly to dispose of them. Let
Us see what there IS in the assertion. IT.
is true that the receipts upon the Main
Line are greater now than they have ever
been before; but We viii find that at this
day they arc far from paying The interest
OF the cost IN 1850 the net rcceirfs
we're sos. .000-2300. 500 less than what
hey should have been. In 1871. the net
-eccipts 2531, ,60I-lcaviar nearly hall.
. million 70 be made up from other
ouTces. And IN 1852, the receipts were +,
sls5, ,56l-or more than e3O0,000 less
han what they should have been. Thus
he State sus:ains yearly loss Of from :
hree 10 FIVE hundred thousand dollars.
which she would not sustain if she were !
0 sell the nain line at cost. Nor can
&c hope that the line will ever be 4 pay
~ one while It is in The hands Of the
tate. Gov Bigler, in bis last annual
Message, says" In view Of these things"
uon-lnterruPtioD from frc and food, and
he general prosperity Of the state) land
he energetic competition which has grown
p around Us, it would be unsafe to an
.cipate any increase in this net income
or any year hereafter. until the North !
iranch Canal and the Portage Railroad c
hall have been completed" And this.
90, in face of the fact, that the Main
ire lacks more than 9300,0OO of making {
per cent. on its capital. Even then in t
rcase ofroCciPts on the Main Line would !
robably not more than pay the interest. I
n the money expended on the Portage e
nd the Columbia Railroad q
1t must then appear TO every candid a
lind that the State would be a great !
amer If she were TO dispose Of the Main 5
.ine AZ cost-a gamer, even if she were .
. sell them at FIVE or six millions below I
ost, A gamer still, according TO the 5
verage receipts, if she were to sell them t
ten mT]lions below cost. Why then
hall she not sell them2 Can any one. c
esides q Canal Commissioner, give q v
ngle reason Why they should not be G
DID! I aPPrehend not If any one thinks t
e can, let him try. P
But these are not the only reasons why i:
le State should sell her public works. il
lough they must be strong enough to d
7nylnce almost any one. There can h
,arcely be doubt, that if the public 0
orkS were orec in the hands of private d
'mpany, fbey would pay handsome Sc