The Gonzales inquirer. [volume] (Gonzales, Tex.) 1853-current, 1854-02-25
saoNzAIEs TEXAS SATURDAY, FEBRUARY s5, 1854

price, from its great abundance and It's dis.
tsnce from market. Introduce railroads into
the State, and both personal and landed pro.
perty would be doubled, and quadruplcd, as IL
by magic. This increase Of value is the mar.
gin for profit for the active and cntcrprising,
who will identify, their own interests with
those of the country, and develop its resources
but i is not expected that capitalists will be
found whO will undertake railroads in Texas
merely for the Incidental advantages that arc
to flow from their construction. To secure
these works, tho people Of Texas must of them
selves contribute sufficient amount TO their
projects to render entirely secure, any foreign
hid they may need, to secure their construc-
ton Texas ninst furnish the security, and then
no difficulty will bu found in getting the meney
upon II for il In only then that tho incidental
advantages Nc hayo referred to, can be made
instrumental in influencing capitalists to lend
their aid.
The State has disclaimcd the policy OF lend.
ing her credit direct to rail.ronds- This would
bc well, were there no blcmish upon this cred.
1t. States should never connect themselves
with railroads hut such aid M tho State in
her sovereign capacity could give, such as
grants OF lnnds, has been freely extended. TO
her most important roads, Texas has granted
eight sections Of land per mile. These lands
may bc taken ut choice, wherever they can DO
found. This provision is one OF great value,
but will not be regarded as sufficient, but only
as cumulative security for n loan. In most
cases the lands cannot bc found on the line Of
the proposed roads; 40 that their value cannot
be 30 much affected by their construction, as
they would be were they within their immcdi-
atc vicinity. The attempt TO bring out Texas
roads with no other security than these lands
is premature, and is great error. The
schemes will not be taken up upon this, and
NIL attempts to bring them upon the market
without other basis, is TO prejudice public opin-
ion, and defeat the very object intended
The Texas people must put portion of
their oon money into their roads. There are
many reasons for this, besides the necessity
for doing SO. They should retain the control
OF them In their own hands. II should be
leading Object with them to create domestic
interest in these works, as q means OF cduca.
ting their people up to proper idea Of their
Importance, and to qualify themselves for their
proper superintendent and management. No
railroad can prosper that is not sustained by
tho sympathics aud good wishes of the COM
mulity in which II is situated. A road frc-
Giacntly wants something beside business, oin-
sure success. Where community invests a
considerable portion Of their own means In
road, their good will Ia secured as matter of
course, and purchaser of It's securities finds
that he has not only an actual basis for their
cannot he miSmanaged without sacrificing the
interests of parties most TO hc benefited by
It's success, will be mel managed.
To entitlc companies to borrow for nee
works, an amount of domestic stock subgcrip,
tions, equal to the sum sought to be borrowed
has been regarded as necessary This il now
an established rule. 1t has value for mum.
rrous reasons, which will soon apply with as
much force TO Teas, m to any other portion
OF tho country. When reasonable amount
Of domcstic means cannot bc raised, the pre-
sumption is, that thcrc Is not sufficient busi-
ness on tho limo of tho proposed road to sun,
port i, when built. Could railroads DO built
entirely upon credits 1t IL easy 10 see That no
check whatever could be placed upon theirin-
discriminate and unwisc construction. The
rule that We have given imposes this check,
at the same time regulates their healthy con-
struction and management, and renders secure
beyond pcradyenturc, all It's creditors. The
lar.sse granted by the State, however, may be
rcgaa6cd as equivalent to stock subscriptions
equal to one quarter of tho cost Of the roads.
leaving only an equal amount 10 be provided
for by domestic means, to furnish d sufficient
basis for 4 loan
Many portions OF the weste,a States have
secured the construction OF railroads, when
sufficient amount of iadipiladJ stock could
not be obtained, by the use Of the credits of
snunicipas corporations, such as cities and
counties. There Is Of course some objections
70 resorting to such, as by doing so, they en-
bark in enterprises that are entirely foreign to
tho objects of their original organization
Their use, however, has not been attended
with any injurious consequences either to the
corporations or 10 the public, but on the other
hand II has been productive OF vast amount
of good Numerous railroads, among which
may be numbered some OF our most valuable
lines could have been built IN no other way
The use Of county credits has been carried Ia
such an extent IN Ohio, that there h hardly q
county In the State that has not leaned its
credit To one or moro roads, and they have
been so useful IN this particular, that the
magnificent railway system OF that State saay
be said 10 be based upon tic ercfits Of hss
counties. These credits, though regarded with
some hesitation in the outset, are now eonsid.
cred as tho best securities offered In this mark
ot, aud with The good opinion that exists IN
reference 90 ihesu, they ate not rated above
their true value. La fact 10 better security
ean be made thar that based upon the agsre.
sste property OF county, which i yearly IL.
crsasiug In salue. anil ussnu the whole of which
iisc tivsAt ssssss,. Is : direct Han
If ll,e people of Texsa eaa make up one half
of The cost of their reads bs Hsaeks taken from
individuals end counties, tlty ps Ilna no ,ils.
tirulsy ia building their sessis. The other
mclcty they can borrow upon tlse sseuFlsy 81
tie .aTss, II they eaenes, they will "a a gsn.
efaI thing hays 10 pesspoae shxst sShemes siil
they aeqnirs gscaisr strength Other possIeas
of The cpanlFy sse compelled 10 do the same.
stA trxaa c4nil4st ext,s,fSs Il. IA kSksse<
With rNgasa 60 foales, slsc pesple of Chs
ssete sre she leet jnssgsa uss0n this sah,oss.
fot tseizhts, which tps sons sinsa a. <ss.se wsl
la The stsdtsx saslaess 81 tisese ns3sis. sls,
i.'sst senssnissst rnniss y lil ~ sisn that ssasa