Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1854-01-20

result of cerian policy, AID adopt t. This Is 30
longer time OF speculation and Hesitation, our
best policy is Settled beyond controversy, the way
is clear we have but to initiate 10 follow IN tie loot
steps of those States endowed with more wisdom
and foresight than our OWE heretofore -IheIe IS
bat one way open to us--it has no by-Palhs OF
cross roadside sign boards are uls ana TIE muck
points unerrn,ly our direction III Is our cuty
to act promptly through The Legislature now III
session in carry ing ont the epect and intention OF
the system of n err al imp o7cments, established by
the last session of the General Assembly Of the
State and to give reasonable extension to the
same; which 10 furnish the necessary means to
the companies designated in said act, BY loan of
the bonus OF the State to an amount sufficient to
purchase railing, lay it down. and TO furnish every
necessary equlpage after said roads were graded,
and as the price of railroad iron has gone up the OBJ
Ject of said law should be carried by increasing
the amount of Stale aid from $4,000 per mile to
said roads, to $4,000, amount equal to the
object OF said iaterna improvement act The roads
which merit equal If not superior claims from the
hands of the present General Assembly, which were
not heretofore provided for those great lines OF
projected railroad, that will extend from the south
ern sea-board through the three grand divisions of
the State TO the OHIO valley and there connect with
continuous line OF railroads extending TO the north
ern Lakes, through the States of Illinois Indiana
and Ohio which will be the best paying roads in
Tennessee by passing through different ATTITUDES,
where the staple productions different there
by causing a free interchange Of commodities
and greater amount of travel than upon
roads trayerslng the same parallel of latl-
tude, and will of course be more calculated to
promote manufactures OF ion and cotton, in conse-
quence Of their giving US an immediate connection
with the coal fields on the northern border of the
State, and the cotton growing States OF the South.
Among the contemplated Railroads, are the Mis-
sasippi, New Orleans and jackson, which will ex
tend from the city of New Orleans through the
State OF Mississippi, to jackson, in Tennessee
where 1t will become part Of the Mobile and Ohio
Railroad; the Southern Central Railroad and the
Nashville and Cincinnati Railroad which will con-
meet Pencacola, in Florida via Athens and Decatur
10 Alabama, and Columbia and Nashville in Ten
nessee, with Cincinnati the Ohio river The
Tennessee, Western and Charleston Railroad and
the Knoxville and Rabun Gap road--the former of
which will be continuation of the Nashville and
Chattanooga road from Chattanooa to Rabun Gan
and thence to the city of Charleston, in the State
OF South Carollna-the latter branch of the same
road, which will extend from Uabun Gan through
Blount county, to Knoxville The Cincinnati, Cum
berland Gap and Charleston Railroad. which will
extend from the city of Cincinnati on the Ohio riy-
er, and run via Lexington and Richmond Ky, to
Cumberland Gap, the northern boundary line of the
State, and thence southwark along the valley of the
French Broad river to Ashve, North Carolina, and
thence to Charleston, in South Carolina and to Beau
fort in North Carolina which will pass through at
and north of Cumberland Gap one of the richest
and most extensive coal fields in the known world
and will make it of the greatest importance and in
dlspenslbly necessary to the development of the
mineral resources of East Tennessee and to furnish
direct channel to the South for her agricultural
products, in which consist her chief elements of
wealth and prosperity-and lastly, the Edgeiield
and Kentucky Railroad, which will connect the
city of Nashville with the Ohio Railroad at Evans
vile in the State of Indiana and through the rail
roads of said State, with the northern Lakes This
road will be very important medium for cheap
supplies OF stonecoal for fuel and manufactures
only the city of Nashville but other parts of
Middle Tennessee. All of said railroads viii be
great thoroughfares of trade and travel that will
pay large dividends, and essentially necessary
TO the full Development of the mineral manulac
turing and agricultural resources of the State and
to make her one of the most wealthy and prospe-
rors in the Union; which roaGs VIII aot require !
exceeding four millions dollars of additional State
Bands, neither of which can by any possibility ev-
er become State habllity--and ii such thing |
were possible, the State would certainly realize not
less than fifteen or twenty per cent her invest
menL But the alarm cry Is given either from sell |
fish motives, or narrow views of State policy and /
they are holding up TO public gaze the raw head |
and bloody bones monster of State Indebtedness |
and State liability, real and prospective to frpbten
peratve duty--is there any for this alarm OF
evil, orr 1t but an igHis tat&Us imaginary dan
ger-to my mind u Is nothing else. | would ask
gentlemen to pause and look to the facts and ex-
anime the reports Of the Bank and ComptrolIer-
there 1t will be seen that the whole sum of out
standing bonds, and other evidences of debt against
the State do not amount to quite four million dol
lars, and that the assets or means of the State to
meet these liabilities IN the capital stock of the
State Bank, the state stocks in the Union and Plan
ters Bank, the McAdanlized roads and in the East
Tennessee and Georgia railroad, reduced to their
cash value in market will amount of at least
two millions FIVE hundred thousand dollars which
will leave actual indebtedness of the State of
less than one million five hundred thousand dollars
Then IN regard to the prospective liability of the
State by her acts OF internal Improvements |
would ask what Rail Road company that is provid-
ed for by said acts, may be provided for by an
act OF the present Legislature that will be able TO
avail itself Of the benefit of such acts VIII fail to
meet the demands of the law, after the stockhod-
ers have invested their own money to an amount
sufficient 10 prepare section Of thirty miles for
he Iron and have raised besides stock sufficient |
o grade the whole road will forfeit the whole of
aid investment, and stock to the State-wilI the
and Chattanooga Rail Raid Company:
he East Tennessee and Georgia Rail Road Com
AMY: the East Tennessee and Virginia Rail Road
company; the Cincinnati Cumberland Gan and
IAodd COiApa IluSSltu anu .
kentucky Rail Road Company; the Mississippi
Jew Orleans and Jackson Rail Road COMPANY
he Memphis GAINESVILLE and Louisville Rail Road
Company; the Memphis and Charleston Rail Road !
company; the Mobile and Ohio Rail X Jad Company; 7
ne Tennessee Western and Char 5tou Rail Road
ompany, or the Southern Central Rairoad Com !
any? No. Then what Railroad Company will {
ndanger the credit of the State? Or cause her to =
lcur real liability Indebtedness under the srin- q
ent provisions Of the Internal Improvement acts? :.
ot one. Then why withhold State aid from Il
,stem OF Railroad improvements. that viii mutu- >;
ly serve as feeders to each other and increase u
elr dividends that viii increase the value of real
tate from S97 ,S5l,2l2 to $500 900 900, or from :.
ll6 per acre TO $4,000 per acre? And that 9,
Ill establish system of manufactures of iron, &c
oolen and cotton goods equal to the State of Penn
wanna or Massachusetts, that will cause demand -
r and equalze labor and rapid increase of pop "
alton IN her sparsely settled territory and that !.
III make her as renowned in the arts and sciences t'
she is upon the tented held2 ] would ask gen. ~
men OF the present General Assembly Of the -.
ate, II they are not willing to step boldly -
ward in the discharge of duty to their State and It
lstltuents dlend their agency in the consumma
n Of system Of Internal Improvements thar gu
secure to Tennessee high and glorious future >,
to their own memory the most grateful recol- -,
fions7 cu