The true Democrat., 1857-01-13
Railroads.

AS 6iSoeaN CACiCiscu duout tue ldCt, as StaleN m our last issue, that time had demonstrated the wisdom of our position, and the folly of his, in relation to the Memphis railroad. The palpa- ble evidence furnished of his want of foresight seems to sting him to the quick Disguised with the name of Know Nothing, which he wears, 1t gals him 10 be reminded that he is Know Nothing in fact.
 We opposed the restrictions put upon the Memphis railroad, and predicted their disas- srous consequences. Every thing we predicted has followed as matter of course, and now that the peculiar friends Gin fact, the real ene- mies) of the Memphis road ledge their erros and cali for relief, we think it not unrea- sonable that We should remind them of their folly and laugh at them little. We know it k serious subject to joke upon; but we can- not resist the pleasure, now and then, of dig Sng our neighbor under the fifth rib, and re- minding himhat he is in truth "Know Noth- ing"
 Commenting on our article of last week, he says:
 "A fling is made at the vote, or the failure to vote, in the city of Memphis, in regard to the Little Rock road, without the truth being told, that the failure was not the fault of the mass oi the voters of that city, but because the election officers did not open the polls.'
 Here the truth" is professed to be given. The voters are excused at the expense of the Selection officers" Now what is the fact? The Memphis Appeal, which is supposed to know more about the matter than our Kno,o Nothing neighbor. says
 ELECTION YEsTERDAY-Owing to the city marshal being unable to get judges, no election was had yesterday. We state this in justice to Mr. Mynatt, who informs us, he did all in his power to induce citizens to act in that capacity"
 Now who has told the truth? None of the citizens would act as judges! Who then were to blame? Our Know Nothing eighbor seems to be incorrgble. We almost despair of re- claiming him from his evil ways. Our article of last week was not intended to injure or affect the Memphis railroad one way or the other, but simply as a justification of our own past course. We sincerely hope the road may be built but we are not prepared to indorse 'h0 NohiP"Hy HUN, olllco lue ClCZenS or M8lu- phis, portion of the Memphis press, and the city council, who ought to be acquainted with It's merits, seem to withhold ueir con fidence from it.
 We give below the resolutions of the Mem phls city council offering aid to the enterprise We shall await with interest the result of the offer The resolutions, by their onerous con- ditions, betray to our minds, the greatest dis trust of the company If the company accepts them, will itInot be powerless, except so far as the S5OOOOO will go? Having mortgaged every thing, the road and all it's lands, will it be able to raise any more means to complete the work to Little Rock? Here are the resolutions of the council, read them:
 WHEREAS The city of Memphis has already invested about two hundred thousand dollars in the Memphis and Little Rock Railroad Com pany; and whereas We deem it of the utmost importance to this city and State to complete said railroad to Little Rock and Fulton at the earliest practicable reriod-be it therefore 1 ResotUed, That the board of mayor and al. dermen hereby agree to aid the construction of said road on terms and conditions as follows:
 lst. That two hundred and fifty thousand dollars be subscribed by solvent aud bona fde Stockholders, satisfactory as such to the board of mayor and aldermen
 2i. That sail railroad company be reouest- ed to issue their bonds payable with semi. an nual interest in the city of New York for one half million dollars.
 3d. That said railroad company. to protect this city against all losses, Is to mortgage it's road and all lands which they have received or may hereafter receive, from the State of Arkansas, or from the United States Govern ment or from any other source whatever.
 4th. Anf De t furtlsr resolvel, That when the foregoing terms and conditions, as above set forth, are compiled with, the Mayor is here oy instructed to mortgage the property known as the Navy Ya!d with its fixtures privileges ana appurtenances, to secure the ultimate re- demption of said bonds
 5th That the said Navy Yard pronertv ba leased by the city at the earliest practicable period, for term of years not exceedlu, the time within which sad Bonds may nature. that the proceeds of such leases be applied to the payment of the interest accruing on said Bonds; that the mortgage provided to be taken rom sad Railroad Company provide also for the security of the city against the payment of such Interest as well as to secure the final pay- ment ot said bonds; and in case the lease of said
  property should amount to sum greater than the annual interest on said bonds, said surplus Is to be paii into the City Treasury to be used as sinking fund to pay the outstanding debts of the city.
 The following is the vote OH the passage of the resolutions:
 Ayes-Messrs. Hughes. Elder, Barry, Fin. nie, Fackler, Dupree, Douglass and SafIar- . rans-9.
 Noes-None
 Absent-Messrs Copeland, Bogart, Curtis and Shawl
 The chairman appointed the following con- mlttee under the resolution adopted on motion ot Mr. Hughes, Messrs. Duprse, Barry and l Douglass.
 On motion, the chairman was authorized to appoint committee of citizens to visit Little Rock and me'norialize the Legislature in person. iheschairman will appoint that committee to- day, and notify them personally.