Delaware State journal and statesman., 1866-01-05
70 mmuaicAted.
our RAILROADS.


If am right In the position assumed In a
former letter, that the productive power of
the country traversed by the proposed Will
mington & Reading Railroad, and its capac-
ity to furnish a remunerative business to the
road, very much exceeds that lying on the
line of the Delaware Railroad, and that it's
chances of doing paying business arc there
fore greater than were those of the latter i'm
provement, the inference resulting thence in
its favor is so strong that venture to allude
again to it, and TO call attention to some OBJ
Jeetions which l anticipate to the argument
have been endeavoring to build up / say
anticipate these objections, for while must
hope that the Importance Of the subject, and
our joint interest as a community of business
men, will cause a fair examination of the
subject, have no wish that any legitimate
objection should be stihed, but rather desire
that every point, both for and against this
Improvement should be thoroughly weighed,
before any effort is made to embark in an
undertaking Of such magnitude. Two prin-
cipal objections to the argument from the
success of the Delaware Road, may be
made; The first is, that its cost per mile was
much less than that of road running through
broken country, and built with the prices
OF material and labor at the present high
standard. The second is, that the Delaware
Railroad was leased by another corporation
as soon as constructed, at per cent. rem
ial yet that its operations resulted in an an
nual loss 10 them, and that it could not have
been operated by the company itself without
greater loss.
The first of these arguments, so far as it
relates to increased cost of material and la.
Dor at the present time, is one that applies
equally to investments Of any kind for the
purpose of business, it would forbid as well
the construction of houses, ships, and ma,
chinery, or any other improvements, as o.
Railroads, and may be answered in few
words by saying that the income from
freights is increased in like proportion tc
the advance in other things; that if the cap
ital to build the road is in existence ant
ready to be invested, 1t must be invested il
somcthtng and if that thing is OF a solid ma
ture, it will be difficult to find any articl,
that does not sympathize to greater or les
extent, with the advance in labor, &c TIL
cost of the road per mile must, indeed, ex
ceed materially that of the Delaware Rail
road, which, passed through level country
has light grades and easy curves. But thi
difference is no greater than would be smpl,
! tod fnF hNrt he -, Il,
ducing qualities of the two sections of coun
try 1t may be fairly assumed as true tina
the Delaware Railroad would not have beef
built to this day, if the line were OF such
nature as to cost heavily in building, an,
this for the reason that It's projectors wer
aware of the generally poor character of tn
soil, and the want of manufactures an
mines. An additional advantage in favor G
our proposed road, as compared with tn
Delaware Railroad, is, that its direction is q
right angles to tide water while the latte
lies in the center of peninsula between tw
parallel bays, with numerous indentations b
navigable streams, making the whole cour
try accessible to great degree. These di
terences are, I suppose, sufficient to ovel
balance in the mind of any one who COZ
siders them, the disadvantage arising frol
greater cost.
, There is yet remaining the fact which
have mentioned, that although by the term
of the lease, the lessees (the p, W. & B. /
R. Co.. have uniformly paid per cent. IL
terest on the capital involved, yet that IL
| operation Of it was for several years carrie
{ on at an apparent loss. This is, believ
5 the fact, and at first sight would appear
g initiate against the use Of this instance
!, success, as an argument in favor OF an e
!, pertinent in new direction. In answer
: this, however, it may be said, that thoug
8 the reports of the lessees did undoubted
= for several years show a considerable annu
!. loss from the operations of the Delawa
1t Railroad, the actual business derived to the
l. own road from it, probably compensate
y y them in full from near the beginning of Il
e lease, for this apparent loss: and again, til
d the tide has now turned, and that the nj
Is earnings Of the Delaware Railroad are co
i siderably more than enough to pay the rel
le But more sufficient answer still remain
Y The same course which was pursued in t
I. case of the Delaware Railroad, would be op
N tousin this. II it should be the policy of t
v, Wilmingtonsnd Reading Railroad Compan
10 to follow the example Of many other roat