New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1862-03-10
OF the firm by the last return amounted 10 sum ap-

lie latter portion Of which branch the Company has
Of late years been glad TO pay lessee as much as
$4,000 Il month, supplying in addition fuel engines,
and everything but officers and workmen, while the
connecting line from Quebec 10 the village Of Rich
mond has been maintained for seven years at I'm AZ
nua sacrifice Of tena Of thousands Of dollars. The
money sunk in Ito first instance in these extensions
which were forced upon the Trunk Company before
Mr. ncks could get for bis project the necessary po.
Htica support, was nearly $40 600, all Of Shich
ca,pe out Of the English stockholders purse excepting
the rnojety Of the Provincial subsidy, which woald
probably amount TO $2,000,C0O. Thus one political
rcec ri er auotl er was linked on 20 tic ontorprfe,
as new claims from the Company were laid before
Parliament. Lines which gave 10 prospect Of paying,
either then at any future time Were forced upon
the vretched English subscribers. To buy up French
Canadian votes, tie $l0,0G0,t00 already spoken Of
was insufficient. Another road OF 30 miles Lad 10
lie built through q wilderness in order 10 give
cuse for putting $3.50 900 into the hands Of Mr. Tur
cote a refractory member Of the House of Assen-
bly,, and in like manner five other branches or con-
uetnq roads were brought 10 harmonic in the gen.
el scheme by advances from tie already fls,-iaing
tro8su., 10 the tune Of over $l,lO0,o00. Lest our
readers suppose that in presenting there figures we
have either qooted random, or made anexeggera,ed
statement for the purpose Of proving case, we shall
quote lie opinion of the sworn auditors of the Com
pany as TO the amount actually thrown away ostenri
DIV 10 subsidze connecting lines, bot really TO pur
chase political support. These auditors, who arc
men Of great wealth and Of unlmpeachable integrity,
tell MS that they find, on careful examination, The
loss to tie Company 10y the purchase Of Mr.. Galt's
ST. Lawrence and Atlantic Road and other branches
10 he
efi1g r. .nd Road in IOpair.............. 160ocoo
Bli ing Riylero d. Loup Line nuoer political nau-
Ihre River. load l o
ton Branch tpolic ')'.....''.....'..''''.. 2ltOV
Total. 3 u el5 900
y, have thus on the report Of tie Auditors who
overlook the Compsny's accounts the solemn state
nent that not only has the enormous amount above
saedied been absolutely thrown away, but they add,
thai hey feel justified expressing their belief thst
. sum equal 10 the cutrc Government subsidy, OF
si55C00O0, hes been similarly eDgulpted. But these
fet- startling they appear, 90 not stow the
in all is positive uglness. To the full measufe
of pnndeF wrung from the ignorant stockholders IN
England, we have 10 tale into account that before
Mr. Hincks AID his illomenca set attempted to touch
the railway businefs, responsible capitalists were
prcpared 10 buld The whole Of tie paying section of
tie road from Montreal 70 the Michigan frontier OF M
AVERAGE Of $Sj 600 mile, and any one WHO knows
the route viii admit tha, this sam would have been
amply sufficient TO cover the expense and leave q fair
margin for profit. This arrangement would have
been saving 70 tie subscribers Of $4,000 mile,
Or in the aggregate, Of s75t000o. So ths' II we
add thereto tie amount which the Auditors have
az SINK, from buying up ard subsidizing
worthless branch lines we have an absolute los IN
the rs instance Of $23 eco COO, with the interest
sccruirg from az least four years default, viz,
s. $40 co., OF grand total Of S2s 500 600, upward
of oue-haf Of the paid up capital OF the Company.
MORE AID.
Il s in this condition Of financial aud moral health
that this precious railway concern Of whore history
we have only given faint outline, cones before the
local Parliament d-maldii postal contract extend
ing over 30 years. with ga ia.me iiate advance Of
Province bonds in It's behalf, equivalent 10 cash, Of
81 500 co., 1t il not our business TO speculate on Tie
reception which this demand ought to meet. That
is clearly beyond tie line Of ourduty The Canadian
people, in large numbers, readers Of this journal
ljtical Guidance. But 20 dsiuteEesei oa-.ookcrs IL
their aaai1s, We may he permitted, in presenting
history Of their railway fnancering, 70 doubt The
yvisdor1 Of attempting 70 bolster up q concern with
seyen.Gnd-G.halcmlon loan, borrowed on a tLiry
wears contract in the face Of an existing deficit al
ready exceeding, as we have shown, Sil 600 coo.
What possible good can ruch an advance do the Com
plnyl and even were this quoftiou lnawercd salts
flcorily, il has not escaped the notice of foreign
capitalists that in four years past the revenue Of the
proyin has fallen below tie expenditure TO lie eX
tent i all Of over l2,0)O,0o0. TIE new loan, how
ever, az we Lave said is not business. bot the
business Of the Taxpayers Of the Colony. WetheTe
fore draw cur story 70
CONCLUSION.
VIA, can sFangers--wlat can tie serously dis.
posed secion Of the COlonsts Themselves ray 10 such
transactions 81 those Of Mr. Hincksm3 Mr.. Jackson?
OF tie agency Of Biz. Calf OF the wholesale
bribery practiced IN the Canadian Parliament And
above al q the part enacted in the drama b. the
Financial Agents Of the Province in London? On
the independent merits Of the Canada Railway
tcAeme NJ Barring pronounced an adverse judgment.
OF this fact there are many living wineries lie
refused to touch j. until bis refusal promised % IL
ierieye with l's aaar.d gains, and While rhe en-
ploymeut Of biz ramo hsgcd mo the entgrrise
,houtands OF innocent and uniuspoctrg Subscribers,
the fact sand1 ont, prominent and telling that tie
maze Itself wae lent nor in accordance with is
ers Judgment, or in obedience 10 The dictates Of his
conseieuce, but under threat Of dimuisled profits
from ga eXiraDeops source; undcc thc ltD. m short,
Of new agency for Canadian finances. But for the
Provincial Mnisers threat, It is certain the GRIND