Columbia Democrat and Bloomsburg general advertiser. [volume] (Bloomsburg, Pa.) 1850-1866, 1861-03-30

y
were to pay the State, for certain public
three millions five hundred
thousand dollars; the property was worth
twice that sum, and to such an amount the
State was cheated in the sale originally
now the small pittance that was to have
been paid, is in effect given by the lcgisla-
ture to the Sunbury & Erie Rail Road
Company.
In the first instance, and before any
legislation on the subject, the State was an
equal owner Of mortgage for seven mill
ions of dollars. Then if the Road had
sold for t,co millions, the State would have
got one, and so for any sum realized. Last
winter an act was passed, authorizing the
Company to issue scrip, to the amount of
six hundred thousand dollars, which was
to "be preferred to the mortgage held by
the Commonwealth"
The Honorable Member, in his defense
says it was "sixtcen hundred thousand
dollars''-a false statement whether will
ful or not we cagnot say-but if not wilful
he is the only man in the legislature so
ignorant as not to know the sum allowed (;
and if wilful, done for the purpose of show.
ing the State already so far behind as to
render any claim hopelessly bad so that
his vote could not, at the very worst, less
en- her chances. But let it pass, there it
stands.
To that sum, Of sixteen hundred thou.
sand dollars, the present legislature, aided
by the Honorable Member, have added
PIvE MILLIONS, to take precedence of the
State claim-and yet the gentleman has
the impudence to tell us we are better off
now, than when the State had lien against
fifty cents of every dollar the Road was
worth. Now, if the Road were to be sold,
before the State could "realize one cent
from her lien,' it must bring five millions
six hundred thousand dollars, costs of sale,
and the constantly accruing interest on
that sum. Is it not prepostorous to tell
honest tax payers that, although about
$4,000 900 debt and interest, have been
given away, that they are richer than
when owning that amount? Does the gen
tleman wish to play upon our crodulity or
our ignorance! Perhaps he had better fol-
/ low the example of Bilenberger of North
ampton, who got Ball of Erie to 90 over
there and explain the matter to his con-
stituents.
Much stress is laid upon possible fore
closure of the mortgage. 1t is hardly
necessary to say that so long as the State
held the first mortgage, a sale would not
be had under the mortgage, if thereby the
money should be lost; but now, when by
the vote of the Honorable Member, the
State is put nearly S6,000,0 900 behind
those persons who hold the first mortgage
can make money by foreclosure, thus
cheating the State out of every cent of hel
claim, and putting into their own pocket.
over s4 100000 of the peoples money. A
sale under the mortgage would not have
been profitable before, now immense for
tunes can be realized out of it.
But again. Col. Kline says that if tn,
Road had been sold, Hthe purchaser woult
have to expend three millions of dollars
before he could realize any thing out o
the investment" BE it so. But then i
three millions of dollars would be enough
why did Mr.. Kline help to give the Com
panv fve ? 1t needs explanation.
As an argument, however, that shall
cap the climax, it is asserted that the licl
of the State was already worthless, an
therefore no harm was done. That is no
true. In their report to the Legislature
the Company admit that the State might
in the first instance, by sale have seoure
one million of dollars. After the six hun
dred thousand dollars was preferred, tn
State might still have realized 500 ,00C
But having now preferred FIVE MILLION
MORE, wet think it beyond Mr.. Kline's math
ematical genius, to cypher up what coul,
now be realized.
The Honorable Member arraigns tn
people of the North Branch because the
cry out against such wholesale plundcr.-
He should remember that the people ar
honest, and that all he is the people of tn
North Branch have made him. And b
insults their good sense, when he call
giving away to the Sunbury & Erie Com
ppny $4,000, 900 of their money, ga littl
} indirect assistance How use doth brec
5 habit in man-would Col. Kline ha,