The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-03-16

hAI4hOAD IEolSl-AIlON fOh HE SAlI~
WHAT Is It's Position The Assembly have
rejected the George Law City Railroad bill
which the Senate passed with so much
alacrity, but there are still Eve other rail-
road bills to be disposed Of which do
not vary very much in character from the
"Gridiron bill," only that they give the fran
chises of these roads to different individuals.
George Laws scheme has been defeated, 1t is
true, but now Thurlow Weed and his friends
are to be attended to in these other Eve bills
As far as the city Is concerned, 1t makes no
difference whether the rights and privileges
which belong to it are made over to one set Of
spectators or another. The loss to the people
is Just the same, and the niquity of the Legisla-
ture in so disposing of them is just as great in
one case as in the other.
What right has the Legislature at Albany to
dispose of these railroad franchises at ALI
They are the property Of the city, not Of the
State; they belong to the Corporation and peo-
pie of New York, and if they are worth any
thing their value should be appropriated to
pay off the city debt and lessen the taxation,
and not be handed over to band of specala.
tors to build an insufferable monopoly upon.
Now, what is the value of these railroad fran
chises? We have four railroads at present in
operation, and the earnings of each are not less
than forty per cent per annum upon the cost of
construction; though by neat piece of leger
demain on the part of the managers, by repre-
senting fictitious outlay for construction,
they are made apparently to pay only ten per
cent dividends The railroads now running
and those sought to be established by the new
bills will be worth not much less than twenty
millions Of dollars. And this vast sum is to be
taken from the taxpayers and put into the pock-
cts Of few spectators. The Legislature
might as we'll seize the property of our citizens
at once, or impose a heavy tax upon it and
hand ii over to Law or Weed.
That we require more railroads in the metro
polls is unquestionably true; but we are en-.
titled to establish them for our own benefit and
profit. The Legislature, if it takes any action
in the matter, should appoint three Commits
sioners-say, the Mayor, Comptroller and Cor
poration Counsel, or some other efficient and
respectable parties, and let them advertise for
proposals for any railroads required, and cell
the franchises to the highest bidder as the ferry
franchises are disposed of; or they might lay
down the tracks by contract and license GER
tain companies to run cars upon them, as is
now done with the omnibus lines. They should
stipulate that sufficient number of cars, and
of such construction as would insure comfort
and accommodation, should be run upon these
roads, and that q fare of not more than two or
three cents should be charged for each pas.
senger to all parts of the city. This is the kind
Of railroad legislation we want, and no other.
In addition to the railroad bills we have
also an omnibus bill, asking for compensation to
the omnibus companies What right have they
to any compensation They have enjoyed the
profits Of their several lines for many years
and handsome profits they have been, too-and
they are certainly not entitled to compensation
from the taxpayers because more convenient
mode Of conveyance should happen to super
sede them. he idea is monstrous one; but
this, as well os the infamous city railroad
schemes, only shows what Albany legislation
has come to be. We hope-though almost
against hope--that every one OF these railroad
bills will meet the fate Of Laws impudent
"Gr;diron" speculation.