Daily national Democrat., 1860-02-17
Pacifc Railroad.

We give place in to-lay's issue, to com
munication addressed to the Legislature of
California, and signed Citizens Of Yubn. "
1t expresses the views of certain eiti-
Gems uron a subject which lie especially open
for discussion at this time. AZ to the argu-
ments and facts advanced in that communi-
cation. they speak for Themselves. and must
have considerable weight upon the public
mind In the selection Of routes for the Pacific
Railroad.
The selection Of the route is matter. we
suppose, to be ultimately determined 10y the
company which may hereaf er be organized
for the purpose Of commencing this Road
from the California terminus The Legisla-
ture. however might recommend to sueh
COMPANY certain route But their business
now seems to be TO consider the proposition
made by the Pacific Railroad Convention,
that the State should lend her aid to such
company to the extent of $l5.000000. The
Legislature is not at liberty TO appropriate,
loan or guarantee this amount at this time.
far beyond the Constitutional limit To OBJ
viate this difficulty it would be necessary, of
course. to amend the Constitution. Aud the
wisdom of such policy is questionable. True.
The Constitution has been already violated
bv the accumulation OF the present debt, but
this affords no excuse for unnulling the pro-
l;l;,.,.,. ol.usa cf Tint instrument rasracti n
State Indebtedness The clause is still in full
force. and in order to legalize the present
debt. the Supreme Court had to exercise n
stretch of authority which has seldom been
paralleled. And even to this day. il we mis-
take not, they have not given the reasons OF
their decision on that question. They seem
only to have been justified by the overwhelm'
ing necessity of the case, the disgrace of re-
! pudiation 10y the State. staring them in the
face. The vigilance of the people will etfec-
tually prevent the recurrence of any such
Necessity in the future. Remove this eonsti
tutionaI limit, aud there will be no bound to
the extravaganza of official expenditure
But, we believe. the main oil jeOt of the
Resolution passed 10y the Railroad Conven
ton is TO change the stitution in another
respect, to-wit: so as TO allow the State to
loan her credit merely to Company of the
character contemplated. Thisis very grave
proposition and one which ought to be ma
turely considered Whether the political
purity of the times is such as to Justify the
removal of such barrier against specializing
depredators upon the public treasury. we
know not There was time when it would
have been dangerous in this State 10 try the
experiment.
Aside from this consideration, it is quite
certain TINT The sum of SIS 0OO. Ou0 Isl heavy
amount with the responsibility of which tC
burden an already hard pressed people. Il
is equal to about one-eighth of the value o
The whole taxable property of the State. TIL.
interest would equal the principal in twenty
years. and, should there lie any fraud or fail
ure on the part Of the Railroad Company.
debt of thirty millions would be entailed up
on the people. If the thing. however. coulC
be 50 guarded as tn prevent the possibility o
any such catastrophe, The encouragement o
the State to such an enterprise as the Pacific
Railroad would he well and worthily be-
slowed.