The Bedford gazette. [volume] (Bedford, Pa.) 1805-current, 1857-07-31
Protest against tIle EsiEs for the
Sale Of the 1EaEps LTsse.

sale OF the IEaEss E4Fsse.
The undersigned place on the Journal OF the
Senate the reasons for voting against the pas
sage Of the House bill No $50, reprint on
Senate file No. 1922 entitled ',An Act for the
sale Of the Main Line Of the Public Works"
lst. Because, although protesting to offer the
Main Line 10 the highest bidder, the bill dis
eliminates so largely in the conditions Of sale,
terms OF payment, and toe exemption from tax
alton, in favor OF the Pennsylvania Railroad
company, as almost 10 exclude bona tide comPe-
titon. And yet il empowers irresponsible IN
dividuas to bid for the purpose OF speculation,
by authorizing them, if they should become the
purchasers, $40 assign and transitr their right 10
the said Main Line, ondrr said purchase, 10 a
ny Railroad or Canal company created by the
laws Of the Commonwealth" The privilege OF
transfer, under such circumstances, without IN
creasing competition, gives color 10 the assertion
that the bill has been 50 framed as TO enable pr-
vate parties-now engaged 10 procuring tins
iegisiation--to purchase merely for the ParPose
of splliag at an advance, as al Indemnity for
their services.
%. Because, although the bill porPorts to Be
a sale Of the Main Line, it, ia reality, more
resembles gift to the Pennsylvania Railroad
Company, If that company should obtain it on
the terms proposed. The extraordinary extern
sion Of credit, the !ow rate Of interest, the r.
lease Of the tonnage tax, ard the exemption,
forever, from all other taxation or dufirS for
State purposes, will enable that company to IL
auidata every dollar Of the purchase money be-
fore the last payment shall BE- mature, 5y mere
" approprialiag, for that purpose, the taxes
from which they are thus released,
3D. Because the release Of the tonnage tax Is
not accompanied uigh such limitation upon
the future rate ot dividends 81 SAID company:
IS will cause SAID release TO enura 70 the benefit
81 the trade and commerce Of tae State. Such
a limitation would lie in accordance with the o.
riginaI design Of the eulerprlSjng citizens Of
Philadelphia aud Piitsbure, aad Of the various
rnunIcipalties Who subscribed SO literally 10
the PENNSYLVANIA Railroad COMPANY, not ex-
prcting or desiring large dividends upon their
investments, but TO promote the great public OBJ
ipcts above referred 10.
ttb. BECAUSE the bill provides that in the q
vent of the Pennsylvania Railroad company be-
couiR0 the purchaser. said comuauv shall not
only BE- exemDt from the TONNAGE tax. now A.
r9ountinr 10 1926 GOO per ai,fuu. Int that in
addition # t.shalI A.. released fran, the Dayornt
Of all other faxes or dntips TO the Common
wealth on lis capital stock. bonds. dividends or
proDer,v." Thr latter amount from which the
Pennsylvania Railroad comrany would he thus
relieved NAV b4 moderately estimated at one
hundred fbonsand dollars q wear.
Such an exemption from taxation IS not only
without precedent, bot should be deprecated as
establishing an exceedingly dangerous one and
IS in violation of that principle of equality Ct
taxation 50 fundamental IN our torm Of govern-
nent.
9Th. Because the bin does not contain suf
ficicnt guarantee that the Western division of
the Main Line ssslal be kept in good repair
and operating condition. thus establishing an
invidions distinction brtween the Eastern and
Western portions Of the State. although both
have contributed proportionally to the burden
Of constructing ard maintaining the entire line
9th. Because the bill does not require that
the President and Directors q The company
purchasing said line, should be citizens and res
denis Of the State. The Importance OF such
requirement IS manifest from the fact, that un-
DER our general laW' only majority OF lnF IL
rCCtOTS OF Canal and Railroad companies need