Iowa capitol reporter. [volume] (Iowa City, Iowa) 1841-1855, 1855-03-07

Next Monday, our citixers will be called
upon to adopt or reject the proposition set
forth in the Railroad Ordina nee. and We live
in expectation Of its adoption by large ma
jority We have kept the matter before the
public as far as our facilities would permit,
and advocated the measure with deep sense
Of its vital Importance to our welfare. and as
this is the last opportunity in our power, We
would ask the forbearance of our readers,
again. although we feel confident that enough
has already been said, and the policy Of the
subscription sufficiently sgitated. by the
friends osthe proposition, to secure its signal
triumph.
We append below the greater portion Of a
letter lately received BY rs, from gentleman
in Cincinnati the character and sound sense
Of which, will be gathered from ITS perusal.
CIycrNNArr Feb. eth. 1855.
Dear Sirs: your Reporter Of the 18th inst,
has Just come To hand and notice IN its col.
umns, reference made TO a meeting of the Cit
liens of Iowa City. called to take into consid.
Grafton the propriety Of appropriating $50 600
more in addition to $5O, 900 already expended
III inc DaVehPOTt NdlIoau, anu 10 my utter
| astonishment, 1.-THE writer evidently refers here
10 the Senate Chamber gathering) the citizens
did not pass the resolution
"Why, sirs. hope you are not going to
stop and lose all that has been invested. That
will nersy do. What would you think of q
man, who, upon nearly completing house
owing balance on settlement, TO the differeh,
mechanics, his money sll spent and little in
debt; would SAY ~ Aimsed \ will le. ih'
"oniy 5000 being requisite to finish The
house, so as to bring in rent Of $500 per an
nun, he would be considered a TOOL, not "a
doyyo,D the $500. by which he could obtain
$500 in one year: then pay the debt with in.
.sfest and have balance 10 pay his other
creditors. BY this course he would soon be
out Of debt, and deriving handsome yearly
revenue"
Gust 80 with Iowa City: taxes are some
what higher than they have been, owing to the
money invested in the above Road Ii you
let the Road rest here and not fni sh it the tax
es will remain SO. but il you borrow $50'000
more, and expend it on the Road, it will then
be in running order, and my word for it, every
man who owns property in Iowa City or even
in Johnson Co., will be far more benefited
by It. than injured by the tax
"Why, sirs, there is a number OF people in
Ohio, talking of coming to Iowa City after that
work, they will 60 where other roads are in
operation. As a property holder in Iowa City
l say. 90 ahead and finish the Road have
some $1,000 or $4,000 worth of property in and
about your City. and not near the Railroad
either: am very wiling topay higher tax
on it: even double what pay at present, it is
is requested in order hat the railroad may
be finished-and why ?--because it could make
me three fold richer; by paying out 500 with
one hand an6 with the other receiving $780,
The above letter. as will be seen, is from
non resident propert, holder IN this city. who
writes under the impression that the PROPOSE
ton in question is SINH ar to the former one
providing for an issue Of Bonds, and he speaks
sens,bly and to the point. How much more
applicable his observations become, seeing
that the proposition is nothing more Or less
than to make the City a corporate subscriber
10 the Capital Stock Of the Road, and at liber
ty to apply her dividends in liquidation oil the
interest upon her bonds