Columbia Democrat and Bloomsburg general advertiser. [volume] (Bloomsburg, Pa.) 1850-1866, 1857-05-02
Proposed Sale of the Main Line

of the Public Works, which Is drawn 50
unfairly and unjustly against the Interest,"
OF the Commonwealth, and the passage o
which would inHict so lasting a blow q
the prosperity of our State, that we fel
compelled to issue an extra, on Saturday
says the Patriot and Union, calling publ,
attention to it, e.a. ta e..
This bill proposes to sell the Main Linz
for s7,50O,000, or, if the Pennsylvania
Railroad Company becomes the purchaser
the price is TO be s9,OoO,00o, and for this
consideration the State is to relinquish the
tonnage tax, and the tax on corporation
stocks, now paid by the Pennsylvania
Central and Harrisburg and Lancaster
Railroad Companies. Mortgage bonds
are to be given for the amount at which
the line is sold, bearing five per centum
interest; enc tenth Of which is to fall due
in 1890, and the remainder in ten equal
annual payments after that time. All the
rolling stock, land, buildings, water power,
etc., now owned by the State, are to be
transferred to the company purchasing. -
Such are the prominent provisions of this
bill. Let us now consider how it will af-
feet the interests of the Commonwealth.
In the first place, then, the State derives
no benefit from the sale Of this line for q
period of thirty. three years, save the inte-
rest Of five per cent. on the purchase money.
For this she relinquishes the profits to be
derived from these works, which, last year,
amounted to-. ......... $780,, ,596 AZ
The tonnage tax on the Har.
risburg and Lancaster and
Pennsylvania Central Rail
roads, amounting, last year,
Observation-Disclosures, 249, ,O2l 40
And the tax on the stock Of
the two Companies, estima.
ted at............... 100000 90
Making a total of. .s7Al,6l7 81
And in return she will receive
in the shape of interest an
nually,. $3.50 900 90
Showing yearly loss Of. :. 1921 ,6l7 81
In this calculation, which is made from
official records, we do not take into consi.
deration the yearly increase in value of
the tonnage tax, which would undoubtedly
make the loss to the State much greater
This annual loss to the treasury of S29l,-
6l7 81 OF revenue would, in thirty-three
years, amount, without calculating the in
terest, to S9,623,3Ss 70; more than the
purchasers are required to pay for the
Main Line. The State is, therefore, ask
ed, by the friends of this bill, 10 sacrifice
these works to company, and rob her
treasury to enable that company to pay
for them. It would be better for the State
to give the Main Line away, and retain
the tonnage tax, than sell it under the
provisions of this bill.
Another outrageous feature of this bill
is contained in the fourth section, which
provides that, if other parties than the
Pennsylvania Railroad Company purchase
it, such purchasers shall within ten DAYS
deliver to the Governor, for the use Of
The Commonwealth, bonds of the State of
Pennsylvania, or the city of Philadelphia,
20 the amount of s3,OcO,OOO, or in lieu
hereof, like amount of mortgage bonds
If the Pennsylvania Railroad Company;
md payment of the principle OF such pur-
'hase money shall be made in certificates
'f loan of the Commonwealth of Pennsyl. |
'ania at par or in cash, and of the interest
n cash semi-annually." The meaning of
his section, in plain English, is that no
'arty, save the Pennsylvania Railroad
company, shall be permitted to buy the
Main Line under this bill. Can our Lie.
'islature consummate such an outrage as
his
We have thus hastily referred to some
i the provisions of this bill. There are
many other Objectionable features in it
'hich, did our space permit, we would ex-
ose to the public, but we think we have
aid enough to convince every reasonable
nan that the bill is all we have character.
zed 1t, and should, under no contingency,
ecome law.
We do not look upon thi, as a party
question. When the interests Of our Com
aonwealth are attacked, it is the duty of
aen of all parties to defend her, and there
patriotism and honor enough among the
ons Of Pennsylvania to reward her faith
ul servants and punish her traitorous enc.
nies.