The independent press. (Abbeville C.H., S.C.) 1853-1860, 1860-06-08
Yours, respectfully,

1ours, respectfully,
G. a. T.
CnARLEsroN, April 4.-Dear Sir: You
slate that an impression has gone abroad
that if the Blue Ridge Road is continued,
the State tax on negroes will soon be in
creased to five dollars per- capita. and that
this belief has been adopted on the author.
lily. Of Mr. Gregg.
The opinions Of this gentleman on MI
practical subjects are always listened to
with attention by the public, nor am l
disposed, on the present occasion, to treat
them with levity; at tie same time, we
should all have a suitable respect for our
own understanding, and not 20 willing to
yield our convictions implicitly to the con-
troll Of mere authority, or shut our eyes
against the perception Of plain absurdities,
through blind respect for their imputed
autLors:
What was really said by Mr.. Gregg in
his speech at EIgefild Court House, in
November, (if that is the occasion referred
to) that if the road should cost Sl2,-
100000, the tax on negroes would be raised
10 s2.50-not'ss, believe. Before pro-
ceeding to examine the correctness of
this opinion, we will briefly review one or
two other statements made by the speak
er, in order to show how little safety there
issln accepting, without examination, the
information or reasoning even of the mos,
practical and experienced. .z,s. n,
Speaking Of the Erie Railroad, of New
York, lie alleged that it had cost forty
millions of dollars. and the shares being
now at$o each for sloopaid in, it followed
that this great work was worth, in the esti
nation Of the public, only per cent. OIL
S40,OO0,0o0, or no more than $4,000, ,oOes
What are the real facts Of the case They
are as follow: That the road cost $4,000.
600; that being built with $4,000, 900 of
subscribed capital, and $4,000, 900 Of bor
rowed money, it follows, when the shares.
will still sell at IS. that, in the opinions oifl
the public, the road is worth the entire sum
Of S24,ooo,ooo Of mortgage debt, and
s5oo,ooo of the subscribed capital in ad-
d'tion. In this there is nothing conjectu-
raI' for there came from England, in Sep
tember last, Commissioners, clothed bv the
English stockholders with power to ad-
vance more money if necessary to extr:-
cate the company fromsssxisting embar-
rassments. sHere, is a, mistake, then, on
the Part Of Mr. Gregg, of $4,000. poo, in
stating the cost'of work, wHsssss history
is to be found in, every nswspaper- in the
country. and an erfofsSf a$52, 900 900 in
estimating its sptesehiS allds, efssot through
adeducnon; Of which ttee faliacy is CON
spichous enough to arrest'tne attention of
the mefest tyro in,fsures.ss I, is true that
the stockholders have lost nearly tbeiren-
tire Capital bu1lhissis lhssgesult of errors
and vicesHhat do moi, attach TO the admin,
istration of single lailread a. the South
Tlis is bad enouslG bntsh lie who undertakes
to onligh.ea the pubic mind on this topic,
should atleast Psosseas Che faculty of dis
crimina.iag le,yesssa1oss of 8 or $io.-
ooo, ,ooe and,oue Of S Sss 900 GOO.
There cannot:be 4 more. ,,,ik;,, sx
bibitiop Of inaeeusssa. aiia;s,;cs. q III t.,1a
eous reasoning ,I,xds h zssnissss. i s isssho",,
be the fol1owiae !: Ssss IS ail lS 3 sama uIs
speech sf1scla,e,l wiyI 80, .ais., ,n;,r
ana aathe dsos s,iopsBe said. on h.
iespoSsFfIEy, thas.wiien Bangs & Co. were
dismissed, from; tie s3t,ae Ridge Road
one nsiAidp Of dolldss iad lssadv been
teSToxasaway, and utte;iS. lost :by
: tie. po66pa through misIocstion Of tlIa
roaa, work Hpsssetiy done, and losse.
attendant ilpeg silare Of Bangs IL Co,
Now the dassihps 70 sts sskedSss, 6ow