Democrat and sentinel. [volume] (Ebensburg, Pa.) 1853-1866, 1857-04-29
Proposed Sale of the Main Line.

bill is now before the House of Representa-
tives for the sale of the Main Line of the Public
Works, which IS drawn unfairly and unjlstly
against the interests of the Commonwealth. ana
the passage of which would infiict SO lasting a
blow at the prosperity of eur State, that we felt
compelled to issue an extra, on Saturday, calling
! attention to it. The matter of the extra will be
found in this number of our paper.
This bill, which we give elsewhere, proposes to
sell the Main Line for 81 800 00O or if the Penn
sylvania Railroad Company becomes the purclla-
ser, the price is to be $4,000, 900, and for this
consideration the State is to relinquish the ton
mage tax, and the tax on corporation stocks, now
pald by the PENNSYLVANIA Central and Harrisburg
and Lancaster railroad companies. Mortgage
bonds are to be given for the amount ut which the
line is sold, bearing FIVE per centum interest: one
tenth Of which is to fall due in 1890 and the re-
malnder IN ten equal annual payments after that
time. al! the rolling stock, land, buildings wa
ter 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 affect the interests Of the
Commonwealth.
In the first place, then, the State derives 10
benefit from the sale of this line for period of
thirty three years, save the interest Of five per
cent on the purchase money. For this she re-
linquishes the profits to be derived from these
works, which, last year, amounted
to 1892, ,596 40
The tonnage tax on the Harrisburg
and Lancaster and Pennsylvania
railroads, amounting, last year. to 249, ,O2l ~
And the tax on the stock of the two
Companies, estimated at 100, 900 90
Making total Of s741.G17 s4
And in return she will receive in
the shape Of interest annually = s450,0 90
Showing yearly loss OF $29I,617 S4
In this calculation, which is made from official
IL,
yearly increase in value of the tonnage tax, which
would undoubtedly make the loss 70 the State
muoh greater This annual loss to the treasury
of S29l,6 ,6l7 81 ofrsvenuc would, in thirty three
years, amount, without calculating tie interest,
to S9, ,b23,3 ,3SS y more than the purchasers are
required to pay fer the Main Line. The State Is
therefore, asked by the friends Of this bill, to
rifice these works to company, and rob her
treasury to enable that company 10 pay for them.
1t would be better for the State TO give the Main
Line away, and retain the tonnage tax, than sell
1t under the provisions of this bill.
Another outrageous feature Of this ILL is con-
tanned in the fourth section which provides that
if other parties than the Pennsylvania railroad
company purchase it, such purchasers shall with
in ten days, deliver to the Governor. for the
use Of the Commonwealth, bonds of the State Of
Pennsylvania. or the city of Philadelphia, to the
amount of S3 900 600, or in lieu thereof, a like
amount of mortgage bonds of the PENNSYLVANIA
pal of such purchase money shall he made in Ger
tificates of loan of the Commonwealth of Penn
sylvania- at par in cash. and of the interest in
cash semi annually" The meaning of this sec
ton, in plain English, is, that no party. the
Pennsylvania Railroad company shall be per
mitted to buy the Main Line under this bill Can
our Legislature consuilmate such an outrage as
this
We have thus hastily referred to some of the
provisions this BILL There are many otLer OBJ
jectionable features in it, which, did our space
permit, we would expose to the public. but we
think we have said enough to convince every
reasonable man that the bill is all VIC have
characterized it, and should Under no contingen-
cy become a law.
We do not look upon this party question
When the interests of our Commonwealth are at
tackled, it is the duty of men of all parties de
fend her, aud there is a patriotism and honor
enough among the sons of Pennsylvania TO reward
her faithful servants and punish her traitorous
emies-Pdtriot s. Uilion.