New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1854-05-11
THE BaT1LE OF THE RAILROADS..


1 THE BaTTLE OF THE RAILROADS.
TO those who have viewed with pride and de-
| light the revival of spirit of enterprise and
Improvement among the citizens of New Or
| leans; who have equally rejoieed in the success
Of party strongly pledged to the reform Of the
lathargic and stationary habit in which our city
had lapsed-and which was so rapidly throw.
ing it in the rear of other cities of the Union
to all who have no selfish views to oppose to the
dictates Of public spirit and duty, it must and
ought to appear course Of more than doubtful
propriety and consistency, to seek to oonfne the
the enterprise and energies Of our people 70 par
tcular undertakings, and within such limits as
individual and corporate interests may prescribe.
We have viewed their growing feeling with NOR
tifeation and regret Candor and duty COM
pels us to protest against any attempt to impose
such unworthy restrictions upon the liberaIty
and enterprise Of our citizens.
The sacred word of reform is not thus to be
prostituted 0 course we do not deny the
| right of any citizen to oppose any enterprise
which he may not think a wise and proper one.
But when an enterprise Of palpabe public bene-
fit, desired by the people, eminently productive
in its character is assaulted by gross misrepre-
sentation, by hollow sophistries, and by the
demagogical appeals and special exactons
of those personally interested in rival enter
prise, such opposition does not present itself in
q form or character emitting it to much com
mendation or respect.
Such seems to us to be the character of the
hostility to the exceedingly fair, just and mod
crate application made under the authority of
the Legislature by the Pontchartrain Railroad
Company, to our city, for the loan of the city
bonds for ST. 100000, by and with the consent
the voters of the city of New Orleans. M
we have looked in vain for any reasonable
argument against that proposition. Certainly,
no such argument could with any propriety or
consistency be urged by the other Railroad
Companies for which the city has SO literally
subscribed. And yet those are the only parties
who oppose the subscription to the Pontohar-
train road. And why2 They have obtained
their grant; they have secured all that they
desire. Certainly it cannot be apprehended
that their gigantic enterprises can suffer by the
extension of the Pontchartrain road to our large
and growing suburbs on the sea shore, and to
one neighbor of Mobiles And, if they appre-
hended such injury to their enterprises, it could
only be produced by the superior advantages of
the road to Mobile, which should be the very
reason why the people of New Orleans should
have that road.
Now, all this narrow-minded jealousy will
not and ought not to be permitted to extend to
our people, beyond the narrow limits of an in
terested clique. And yet, unfortunately, that
Clique possesses certain influences, which, if the
people are not duly warned, will misead them
on this subject, to q degree that may prove
highly Injurious to the interests of the city.
Warmly devoted to the other two great enter
prises of our city, and supporting very cordially
the heavy burdens imposed upon the people for
their completion, we freely confess that the ap-
plication of the Pontchartrain road possesses
peculiar merits, and presents decided advan-
tsges over the other enterprises
First, it is a company already in successful
operation, yielding a revenue of $55 900 per
AMMAN. 1t possesses property in the shape
of land, charters, rights of great present
md incalculable future value, all of which it
offers to place against or combine with $500 900
Of the bonds Of the city. Having obtained this
solid basis on which to prosecute the work, this
company will next obtain 100000 Of private
and then it will ask the city for
IN additional issue of bonds of 100000. When
sixty miles of the work are completed, the city
Will be asked to complete its subscription as
authorized by the Legislature. Long ere this
Or even before the second installment of city
bonds is asked for, the road having reached
'he hourishing settlements on our sea coast,
will be paying a handsome dividend Sc that
hese bonds, being represented by stock, will
constitute valuable investment. To show still
more strongly the good faith and fidelity of this
ompany, they bind themselves to relinqu ish to
he enterprise the large yearly revenue of the
resent fourishing company
Nay more, declining to avail themselves of a
ust and equitable provision of the act of Legis-
allure, reserging the profits of the road now
n operation to the present stockholders, they
fer, in the ordinance now before our CITY
'ouneil, to surrender those profits 10 the sub
enber, including the city, to the extension of
he road to Mobile. And yet even this literal
oncession is sought to be made an objection to
he cty's subscription, as unjust to the st oek-
oldersof the Ponchartrain Railroad Comp any,
or. whose interests these gentlemen feel su ch a
ively concern, Fortunately, however, the
pinion of the City Attorney places the leg, Atty
this concession beyond doubt We ca mot
elieye that our citizens can be SO easily g, illed
y certain sophistical and demagogical,, as
'ell as by selfish appeals, as not to oom-
rehend the full character of the hole
pposltien to the just claims of an enterprise
'hieh promises the most certain and speedy
dyantages of any of the railroad projects VIII ieh
ave obtained their aid and sanction. Certa in
7 1t behoovea the Press to be on the alert Ind
ateh those movements which aim to render the
lterests of our city subordinate to the ambition
nd interests Of individuals
MORE avon.
In the card published under the above signs
Ire in the Bulletin of the 9th inst, against the