The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1859-05-10

interest. The beginning, is what we now perceive
who can foresee the end2
'Had you the time at hand to afford you an
opportunity of examining into the various merits
(which have induced the people of Baltimore and
"Carrol counties to undertake the construction of
''the Western Maryland Railroad, we trust the
agreeable duty towards promoting the interests
''of the community at large, by the compilation of
facts in these few pages, would be superfuity
(which your hearty cooperation with US would
'render unnecessary" Such is the opening sentence
of pamphlet addressed ''To Capitalists and Cit.
''zens of Baltimore" on the subject of the Western
Maryland Railroad. The meaning of the sentence
is much better than the English in which it is con-
veyed; but the thrifty farmers of Carroll county,
from whom this appeal emanates, are far better
acquainted with the means of making s'two blades
''of grass grow where but one blade grew before"
than with the rules of syntax. They are "Ready
''Reckoners," but they themselves would be the
first to disavow any claim to be considered as
Complete Letter Writer'S" They read but little,
they work hard, they live well, are shrewd at
bargain, have keen eye for the main chance, and
PAioS VI
not well considered the end The construc-
ton of the Western Maryland Railway has
been carried on chiefly, in fact almost wholly,
by the moneys they have furnished. The
subject was agitated for a long time
before they concluded to put their shoulders to the
wheel. 1t was formally discussed at public meet
ings 1t was made the topic of conversation dur
ing the sessions of the County Court Individual
opinions were eagerly consulted; family councils
were held, and the result finally reached was that
the road ought to be made, and that the sooner it
was commenced the better it would be for the in
dustrial interests of the county Now, we are per-
fectly aware that this is quite an old-fashioned
mode of doing things; that it may be called hum
drum, Slow prudential, cautious; and that it is an
apt illustration of the old proverb-"Look before
''you leap''--a maxim which the pioneers of mod
ern progress too often repudiate But the tortoise
sometimes outstrips the hare Impulsive people
are rarely distinguished for tenacity of purpose.
They dash ahead CALAMITY enough until they grow
short of breath, or brought up all standing by
some obstruction in the way, and there they halt,
having no strength to go further, or to clear for
themselves an opening into ''fresh fields and
more thoughtfully. If an undertaking is proposed
to them they examine it in all its aspects
and when they have made up their minds
to embark in it. there is no longer any reasonable
doubt that the difficulties have been well consider
ed, and that the investment promises to be good
one. This brings us back to the subject matter of
the pamphlet which has been issued by the Pres-
dent and Directors of the Western Maryland Rail-
way. They say, in effect, to the capitalists and
citizens of Baltimore your interest in this matter
is equal to ours; for every additional ton Of hay,
or car load of wheat, -four or lime or iron ore
and every extra pound of cheese or butter that we
are enabled to bring to your market by means of
this improvement, also adds, whilst it
benefits us, to your material prosperity
Previously to soliciting help from you we
have faithfully complied with the injunction of
HERCULES. We have subscribed two hundred and
nifty thousand dollars to the capital stock of the
company, and we have also purchased first mort
gage bonds to the amount of one hundred and fifty
thousand dollars. Of the forty-two miles which
constitute the length of the road, we have about
tWenty-three miles, one-half of the line ''graded
ito such distance as not to retard the more rapid
placing of the track upon it." Of the thirty
three hundred tons of railroad iron which will
be required to complete the road to Union
Bridge, we have already bought and paid
ior three thousand tons-leaving but three hundred
IONS 10 be purchased at some future day. We are
using our stock subscriptions to continue the
graduation and bridging and if we are able to dis
pose OF the rest of our first mortgage bonds,
Of a;o
on the dollar, eve shall, with ease reach West
minister this fall, and, by the succeeding mid
summer, terminate our labors for the present,
Twelve miles west of that place at the village of
Union Bridge" We have thus shown you
what we have accomplished ourselves almost
without any extraneous assistance and now we
appeal to you to help US TO complete what we have
already so well begun. Such, in substance
Is their plain, sensible, straightforward ex-
position. They, moreover, state that the Bonded
issue and First mortgage is limited to six hundred
thousand dollars, of which not more than five
hundred thousand will require to be issued. As
ponds to the amount of one hundred and
nifty thousand dollars have already been disposed
OIL at eighty cents on the dollar principally to the
iarmers OF Carroll county, there yet remain to be
dred
nifty thousand dollars, in order to cover the S,r,
required 10 complete the work. Now, then for
Tue present ana prospective security: At this time
there are twehty-three miles of the road graded and
IN readiness or nearly So for laying the track and
all the iron for the entire track-forty-two miloS
with the exception of three hundred tons hos H.,
bought and paid for. The mortgage to secrro
the bonds is so drawn up ''that it covers not onl
''the road and equipment, as at present under
"taken but extends, as first lien upon whatever
subsequent addition may be made to the road in
'tits contemplated extension TO Hagerstown, or to
ga connection with the Baltimore and Ohio Rail-
"road." The next question discussed is as to
whether a railway forty-two miles in length local
in its character and running for its whole distance
through one of the richest agricultural and mineral
sections ofthe State would be capable of meeting
the annual interest on its bonds-say thirty
six thousand dollars per annum. 1t can
scarcely be necessary to argue this point.
1t is sufficient for us to know that even now, I'M
der all the disadvantages attendant upon the old
mode of conveyance for long distances, fduring
''the buster seasons of hauling produce to market,
''as many as three hundred heavily laden two,
-four six horse teams pass through Westmins-
ter daily to Baltimore" This is altogether ex-
elusive of the lime, iron ore, hay, and dairy pro-
ducts which will not bear the expense or the risk
OF transportation by wagons. We might go on
and present the statistical tables, which we find in
the pamphlet before US, we might cite the re-
corded opinions of the farmers of Carroll themselves
the men who have already constructed with their
own means one half of the road-but we think we
have said enough to direct attention to the reouis
ton made upon our citizens by the President and
Directors of the Western Maryland Railroad. and
to the pamphlet in which their wants are made
known. IL ss