Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1859-11-05

By TREWHlTT, 223, to equalizs the tax list.
By RUSSELL, 224. to change the county lines
between White and Putnam counties.
By GILLESPIE, 225, for the relief of Rachel F.
berry.
BY FARRELLY, 226, toincorporste the Southern
Insurance Company of Memphis. -
KEsrUoKY AND TExNEssEE LINE.
On motion by Mr.. JOHNSON, Senator stOvalrs
bill Is Al. to refund to Gev. Harris money $4,000
advanced to Commissioners who marked the line
between Tennessee and Kentucky, was taken from
the files, passed the second reading snd referred to
the Committee on Claims
NASHVILLE AND CHATTANOOGA RAILROAD.
Mr.. SHE'D moved that the motion to reconsider
The vote by which Senator Payne's bill to trans
fer certain stock Nashville and Chattanooga Rail-
road Company, be taken up.
The motion was agreed to, and the question be-
ing shall the vote be reconsideredg
Mr.. HURT believed that q sense of obligation
which he owed 20 himself and to the people of Ten
nessee which he represented, would not allow this
opportunity to escape without entering a solemn
protest against extending the credit Of the State of
Tennessee. He knew that for years past severe
looses have been sustained in consequence of this
continual drain Of the credit of the State. While
the law provides that the bonds of the State shall
not be sold for less than par, we have seen them
run down as low as 20 per cent. and yet the State
q
has been in existence for years. Look at the con-
tract between the Memphis and Charleston and the
Nashville and Chattanooga Railroads and you will
see that the Nashville and Chattanooga Company
have agreed, independent of aid from the State, TO
carry the produce aud passengers of the Memphis
and Chsrestonroad Sc. He looked upon this bill as
q proposition to aid the Nashville and Chattanooga
road to the amount OF $3.50 600; and VAS not for
that kind of legislation. He refused to contrast or
take issue as the responsibility Of the two roads,
and went upon the ground that it vas q new loan
"a proposition to obtain from the State $3.50 600
TO distribute among the shareholders of the Nash
Vile and Chattanooga read.
Mr. SHE'D The Nashville and Chattanooga Rail-
road was the first completed in the State; in one
sense Of the word it was pioneer road. It was
thought that President Stevenson could not have
carried 1t through, and he thought that gentleman
was the only mao in the State who could have done
it. The Internal improvements of Tennessee
are worth more than all the other protects OF the
Legislature. The Nashville aud Chattanooga Rail-
road is making more money per mile and on bet
ter footing than any other Railroad In the State
The gentleman froIu Madison Mr.. Hart, says this
proposition is simply to take from the State $780,
900 end distribute it among the shareholders of the
Nashville and Chattanooga Railroad. He did not
know how that gentleman could get this idea Th0
Nashville and Chattanooga Railroad Company made
a contract with the Memphis and Charleston Gem
pany-went on and did the work, and they now ask
to be reimbursed for money expended in doing it for
the Memphis aud Chattanooga Railroad Company.
Can any gentleman doubt the liability of Thu Cam
psuy which osly owes Sl.074, 900 upon work cost
ing 81 769 $50? He thought not
Mr. WILLIAMS, of Hickman, had never seen so
much eagerness manifested in getting measure
through the Legislature in all his lite, as Wts evil
idenced by the friends of this bill He could not
discern what public necessity it is to any body to
hurry on this project. We were told the other day,
by gentleman (Mr, Harris) that this would be
saving 10 the State, of $685. 900, for if We did not
pass this measure the Memphis and Charleston
Railroad could call upon the State for $4,000.
He suspected In this project the heneht was to be
conferred upon these companies aud not upon the
State. He believed with the gentleman from Mad
isou Mr. HGrt) that it was only an extension of
the State aid 10 a road which already had lien
upon It of $4,000 per mile. If the Nashville and
Chatsnoogs Railroad had done the work upon their
own responsibility, the State cannot be made to pay
for It,
Mr.. SHE'D, Gnterrupting) they hare done this
work under contract with the Memphis and
Charleston Railroad.
Mr.. WILLIAMS. The State is no party to the
contract If he understood the Act of Assembly
two years ago, it authorized sort Of consolidation
between the two roads, and this bill was to do
aWay with that. five pass this bill we destroy the
responsibility of the Memphis and Charleston road
to the State. Why not make both companies res
ponsi6le to the State? 1t seems that the Memphis
aud Charleston Company distrusts the Nashville and
Oh Itauooga Company.
Are you willing to swap the security you have on
both roads for the security of the N. &. G., road
alone Why, any one would prefer them both, it
seemed to him; aud the State should not release
one road while she has securities on both, With
this view he voted against the bill the other morn
ing
H hare pladp IN
the further extension of State aid and he intended
to carry out that pledge. The NJ, & c. road do not
Sant to increase their liability, aud instead of their
asking S295 900 the N. c. road asks for Sl50,000
to DO the same work that the larger was appro-
priated for.
Mr.. HURT, tinterruptipg) would not vote to aid
any road on top of the eartn.
Mr.. HARRIS cared not what may be said of the
future prospects of road he took it at its present
condition, aud believed the n & G. road was fnan-
oiaIly in better condition any other in the State
de was willing to reconsider and if he found out
he in the wrong be Should vote against the bill
II there is 8 cat in the meal, let it be brought
out.
Mr.. MARTIN when the bill passed was not in
formed as TO its merits but since then he had taken
pains to look into the subject He read the last
passed by the Legislature this subject, and also
the contract between the two Railroad companies.)
Now il the Legislature under any obligation to ex-
Vile and Chattanooga road have gone on to do the
work under contract with the Memphis and Charles
ton road the moral obligation of the State is Just as
Though it had been done by the other company: and
the Mtmphis and Charleston road have the right |
10 call ou the State for the 295, 900 to do that work
The next question is whether the Legislature is will
ling to release the Memphis and Charleston road |
and take the Nashville and Chattanooga road for |
$3.50 000l There seems 10 be no question as to the
liability of these roads Some gentlemen object to
taking the Mas lville and G. road alone security;
but We are told By other gentlemen upon this floor
that the Nashville and Chattanooga road is amply
lble to indemnify the State. lie was nov satisfied |
hat the bill should pasR. shoald vote for the
alteration, and for the final passage.
Mr. GAY. la order to entitle the Memphis and I
Chattanooga road 10 the S295, 600 State aid, they
must comply with the requirements Of the law. He
COX it for granted that tse two companies had not
net the requistion Of the law (which he read The
contract between the two companies was not for all
ime but for only 30 years. as he understood it, The
Memphis ID Charleston company not having Gem
,lIed vita the Law in the case it WAS not entitled to
he State aid proposed, and therefore he regarded
he bill as extending gratuity of State aid 70 the
Nashville and Chattanooga road of $l5O,000 He
ad no doubt the security would be sufficient; but
re knew the disastrous effect Of extending State aid,
nd he for one, should vote against the bill on its
nal passage. t+..s--.. 4. y -s
Mr.. beatty was unwilling to take the Nashville
nd Chattanooga rosd as security for the $4,000.
Is had an amendment providing TO hold The Mem
his and Charleston road as collateral security to
he State which be desired TO offer, and if the vote
n the passage of The bill Was recoRsdered heh hoped
be amendment would be adopted $50
Mr. CAN'T did not understand why these COM
anes would give up 1926, 900 for $3.50, 900 nor
ny the Memphis and Charleston railway in their
ontract required of the Nashville and Chattanooga
lad security in addition to the simple ability Of
he company to pay; nor why, if this arrangement {
ow proposed is entered into. the guarantee is net