The eastern clarion. [volume] (Paulding, Miss.) 1837-1863, 1858-11-13
VOLUME XXI. NO. V.

the road. Thus if the road costs 20 or 80
per cent more than it ought to have cost,
the transportation upon such road must
forever be, from 20 to 80 per cent. dearer
than it otherwise might have been. There
by ultimately throwing the entire loss
upon those whose necessities may require
their use.
1t is true that in the first instance the loss
falls upon the stock holders. But in the
end it is almost certain to be thrown upon
the labor of the country. From this view of
the question it is apparent, that the only
way for the people to have cheap transpor-
tation, is to pay the money necessary to
make cheap Foads-we are all--eyery citi-
zen of the State interested in this result.
a case IN illustration of this view of the
subject may be found IN the instance Of D
merchant, who purchases stock Of goods,
but who from thewant ofcash, or sufficient
credit, iscompelled to pay 25percent more
for his goods than their real cash Ealue--if
he makes upon these goods his usual profit
the loss of the 25 per cent. falls on the
consumer, and not the merchant. Thus
it is with railroads; if they cost 25 per cent.
more than their cash value, transportation
must forever, Ito be remuneratiye to stock
holders be 25 per cent. dearer than it
ought otherwise to have been. None ofour
roads, except the Charleston and Memphis
are yet completed, but they have all made
very heavy outlays of money, and are in
a condition of great advancement, and con-
siderable usefulness. But though so near
their completion, they are brought almost
to astand-still-and can see no means for
their early completion and equipment
with rolling stock, &c &c, but from the
LII I. 4 - Il A.
panies consent to heavy discounts on the
sale of their bonds-which we ought not to
permit, ifit can be avoided, as the loss must
in the end fall on the labor of the people
of the State.
! am aware that many objections may be
made to taxation for the purpose of
internal improvements. But such obiec-
| tions in the main, apply to cases to be un-
dertaken and managed entirely by the
| State-and not to those where the State
merely lends assistance to pre-existing un-
dertakings. Our roads have already cost
over S20,O00,000 in stocks, loans and in
come expended in construction by indivi-
duals and corporations. This is an earnest
and pledge for fidelity in management. /
| think that there is no State in the Union
which has not rendered assistance such as
is now asked, in favor of their roads. All
| ourroads bya small assistance could be rem
| dered promptly useful to the community,
and remunerative to stockholders. There
by diffusing a widespread prosperity
| thoughout the State.
] would therefore in aid of these great
and benefcent works, recommend that a
tax of of one per cent. be levied upon all
the taxable property of the State, out side
of that heretofore proposed to be taxed
for Levee purposes-and that on the pay
ment of this tax, the tax payer should be
entitled to receipt from the Tax Collector
| showing that the money was paid for and
on account ofthe railroad tax-and which
tax receipt may be convertible, at the will
| of the holder, into the stock of any of the
railroads of the State, so far as such road
may have been recipient from the State,
on account of the proposed tax. This
would be but a small burthen npon any
one, while it would be great good TO the
whole State; adding not less than S50,0OO,-
600 of value to her aggregate wealth.
thereby scattering broad cast throughout
her borders, all the bounties and blessings
of an untramelled agriculture and com
merce-accompanied by general moral
and social improvement of the people
This tax thus benefcent in its effects
would be but nominal mot real, burthen
as theoWner of an estate ofSl00, 600, would