Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1859-01-15

she should fnally be called 1iUn to give
that enforcement. This will be Che worst
Chat c6tf occur, under extraordinary circum-
Stances. The road would then be finished,
as first class road, ready to yield profits
for interest or dividends The State would
occupy the nositint of being stockhOIder
to the amountofS2,000,00O. Thismouut
she would have ventured in common with
other stockholders in the enterprise, and
would have opay in instalments. She
would further be cndorser on SO 900 600
of the compa1y's bonds, having as sccttrftY
therefor FIRST Ten on the road, worth ST.
600, 900, exclusive of the lien of Tonnes.
see to the amount of S640, 900 on the por-
ton in chat State. Admitting the great
valac of the road, would slIis Be a bad p1,
siSfon fof her .to. occupy? She alone ofall
the stockholders and bCndhodors would
have the preference in the ownership of the
property. Every dollar subscribed by
Charleston and by citizens of South Caro-
lima, Georgia, North Carolina aud Tenncs-
see, and by the contractors who received
it in Paymentd,r work done, must be hope
lcssly lost before the property of the State
can be affected We have already discuss
cd the great value of the enterprise, and
the argumcntin its favor is thus complete,
if the State can safely raise the means
But ic Is urged tha1 The State has alrea-
dy as much debt as she can safely shoulder
She has on hand the building of new
State-housc at q cost of $4,000, 000-a
piece of downright extravaganza. If to
this be added S2,000,000 Of Subscription
to the Blue Ridge Rail Road, and tho
ondorscmt tNes--probably of 81 100000,
but possibly of $3,000,009 will she not
thus incur obligations to cripple her inan-
ces ana opprc5 her people with taxation
for years TO come? We answer no, The
STATE can undertake both ehese projects and
carry them through safely without cmbar-
rassmcnt or any material increase Of taxes.
BY an insignificant increase of the taxes,
Che interest. on the stock will be provided
for; and if the paymcnt o. her bonds are
distributed during period of say thirty
years, the surplus profits of the Bank of
the State are amply sufficient to meet the
installmcnts of principal at the rate of say
$200000 year The State-house and
Blue Ridge Railroad need not interfere and
can both be built.
In taking this part in the enterprise,
South Carolina would not embark, to an
unusual extent, her means. Such enter
prises on the part of State are neither rare
nor strange. As the General Government
has no right, it is the business of the Sta
tcs, according to our views, to undertake
internal improvements. North Carolina
has contributed S3,000,0 900 for the Cen
trail Railroad to Salisbury, and contributes
to the extension of road to Murphy
Georgia, out of her treasury, has builS the
road from Atlanta TO Chattanooga, at a
cost Of SIS 100000. Virginia has cxpend-
cd S3O00,G0U on che Virginia Central
Railroad across the Blue Bidge, and is I'M
dcrtaking as puplic work. the. Covng-
ton and Ohio Railroad, estimated to cost
12,000,000 South Carolina, therefore,
is not called upon to do what other States
are unwilling to do. 1t has already been
shown that she is amply competent. She
is one of the wcalthicst States in the Union
Her financial condition and resources will
compare Syorably with either Of her neigh
bors Shall she now sink wli9s Is invested,
and turn her back on this grand project,
promising such mighty advantages within
i,ol i power 10 realize? 7ed';ss.c Shal enc not then
remove the conditioA imposed upon the
guarantee already granted, With the pros
pect of being called upon to take stock to
the amount of another million, and with
the possibility of having to endorse the we'll
secured bonds, 6f Shc company to the ex-
tent of$ 100000 more We say itbe-
comes her to make the tentJFc: We see
no where else an enterprise on so great a
scale or promising the same beneficial re-
suits. We, therefore, trust that having
matOrcly considered tie subject, tie 'men-
bers of the Legislature will return prep;t-
ed, ct their next session, to grant what is
asked foF ghe continuance Of this magnif-
cont work. ,1 -
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