The Camden weekly journal. [volume] (Camden, South-Carolina) 1853-1861, 1860-09-18

dent and Directors to the Stockholders in July,
1854, and lastly, the report Of Mr.. Middleton,
from the Committee of Ways and Means, all
make it manifest, beyond doubt or contradic-
ton, that the Legislature was fully informed
with the funds that could be obtained in South
Carolina, and contributions which could be
obtained in the other States through which
the road was located, to construct the entire
road from Anderson to Knoxville, and that
this purpose vas as well known and understood
by the Legislature AZ it was by the officers of
tile Company. The cost of the entire road
was exhibited to the Legislature, and the de-
fclcncy Of the means olthc Company compared
with the estimated cost of the whole road was
presented to show the necessity of State aid,
and the measure of necessary assistance. Aid
was granted to the measure of the Company S
wants to complete the entire road, and it is an
imputation of consunmatc stupidity and folly
in the Legislature to affirm that they restricted
the cxpcn ditu.e of the aid which was granted
to the construction of the road in South Caro-
lima The completion of the road in South
Carolina would be worthless towards the ac-
complisllment OF those great advantages of a
free and quick commerce between South Cao
lima and the regions West of the mountains,
which are strongly set forth in MIR. MiddIctou's
report. 1t was cXpre$sI to secure those all
vanta.es 10y the completion of the road to
Knoxville, that the Legislature granted aid to
the Blue Ridge Rail Road Company in South
Carolina.
But to pr! in a still stronger light, if that is
possible, the absur,lily of the suppositon that
the Legislature intended to restrict the expcn-
diurc Of the aid granted, within the limits of
South Carolina, it is only necessary to advert
to the facts presented III the memorial, that
the estimated cost OF the road in South Caro-
lima was S2,5OO,OC0; tfat under the contract
with Bangs l. Co., oncilalr the cost would be
paid in the Stock and Bonds of the Company
secured only by mortgage of. the road, so
that the Company required only Sl,25G,000 to
meet the cash payments and that they actually
exhibited to the Legislature c;sh resources to
meet these payments in the amount OF the
City subscription. Sl,049, 900, and Of individual
subscriptions for SIS 600 more, Of which two
thirds was made in South Carolina 1t is pre-
postcrons 10 suppose that with tic exhibit of
cost and resources, which the Company made
to the Legislature, they should ask aid to COLI
struct tue road in South Carolina; and it is
inconceivable that they should petition for two
millions more, and that the Legislature should
| have given Il moments heed to such peti-
ton.
If anything more were needed 10 establish
the authority of the Company to cxpelld the
aid granted by the State beyond the limits of
South Carolina, it will be found in the clause
providing for the guaranty by the State OF the
Bonds of the Blue Ridge Rail Road Company
in South Carolina. 1t was made a condition
Of that guaranty that the Companies in all the
States should first cxecutea mortgage "of the
whole estate, property and funds which they
fI-e--aosscs:cd, or mi Git afterwards acquire"
ire the payment of these Bonds. it CALI
credited that the State would have
i such dcinaud,'or tliat the Companies
Other States wa.;;,,,ss. Al, ssened to it,
was to he applied exc cfllsivcIy to the construc-
ton of the road in So!Ith Carolina.
1t was also provf fdcd that the mortgages
which have been mentioned may also sccuc
without any priority or preference, other Bonds
of the Blue Ridge Rail Road Company i'll
South Carolina, to An amount not exceeding
sl,5OO,O00. PrOvide3, that nothing herein
contained shall be construed to prevent arg
& the spi:l Companies from applying any Of
the proceeds of the loan so made by them, and
the ustalmcnts which may be paid in on the
stock of the said Companies for the purpose of
constructing, cquippng and working their
respective roads. and for no other purpose what
eyer" except to pay the interest and principal
OH tic Bouds. Any Of the said Companlea"
can only mean those in Georgia, and North
Carolina, and Tennessee, for when the Lcgisla
ture gave aid to the Blue Ridge Rail Road
Company in South Carolina. to complete the
road from Anderson to Knoxville, they could
not have intended to frustratc the express pur-
pose Of the aid by forhl,,liug that it should be
expended out of the limits of South Caro-
lima.
| have thus shown that before the aid WAS
granted by the Act Of Ssh which sci the ell
lcrprisc on firm ground the memorial of the
Company, in 1853, had fully and COM 'ctcly
informed the Legislature Of the lcSign aud
purpose Of the Company 10 build the Blue
Ridge Rail Road from Anderson to Knoxville
with such means It's could be ohta:nrd Iii SoHth
Carolina and tho other States. The memorial
sets out the surveys by the Engineers of the
Companv, the cost Of the road in South Caro-
lima. aud the entire cost OF the road to hnoX-
vile. the amount Of subscription III the several
States, the contract of the Blue Rid re Rail
Road in South Carolina with Anson Bangs u
Co.. for the construction of the entire road, we
also exhibited the suiiiciclrv Of mcalrs to finish
the road in South Carolina, but a deficiency of
81, 100000 Sor the construction OF the entire
road, and asks aid to the amount Of that de-
Gcicncv. The Committee Of the SENATE made
nm inunistion into the facts stated in the memo
rial, and reported tie result to that body; the
Committee Of WAYS and Means in the House
recommended that the prayer Of the memorial
should be granted, and reported the Bill to
.a,,thorizc aid to the BIuc Ridge Rail Road
COMPANY in South Carolina" and strongly
nrrcd upon the consideration of the House :hc
Importance of the connection between Charles
ton and Knoxville, to complete which aid WAS
prayed for by the memorial.
after this summary how utterly gronndIcsS
must your charges against the officers OF the
Company appear t" hc TO every Reader.
And your own letter to Mr.. Gary manltcstS
how rroundlcss your charges are TO your own
consciousness.
In recommending the StatcsviiIc connection,
-ou contrast it with the Blue Ridge Road and
urrc the adoption Of the former route, 'as pass
iu% through Il much richer. and penetrating to
the very region of country where the blue
rrlrc is attempted to hc built at an enormous