New-York tribune., 1866-04-26
STATE POLrCY-RATLROADs.
TIE P'0rid says:


allowing Central Railroad to charge higher iaTs to through
passenger This obviously Just that II COM
en 81 s1v force could be used against H. We presume it
will be denied by Gov Fenion himself that the with
holding bis signature account o pubc grounds
bat entirely partisan and personal considerations
1t seems to us that a very moderate allowance of
that logical faculty in which The Uorid often assumes
prominence over its neghbors should have saved it
from the sef.exposure embodied in the above. Here
i, a measure 80 obviously just that it commanded
the assent Of people Of all parties vetoed from par
tsan and personal considerations" alone! Why not
say in so many words that Gov. Fenton opposed and
defeated what every one strongly wished and hoped,
in order to make personal capital and secure his own
reelection That is just what TIE Uords accusation
amounts to.
we are sure that the Governor has been impelled
to the act complained Of by considerations Of public
interest and public duty He believes that the Cen
tra can get on without the relief provided by the
bill, and that the popular judgment demands that it
shall 80 get on until we shall have returned to specie
payments and specie prices for labor iron, fuel &c.
Ift shall then appear that the heavy rates Of taxation
and the enhanced prices caused thereby render the re-
quired relief just aud necessary, he will heartily unite
in according It. But he wishes first 70 be certain that
justice absolutely requires it.
Candor requires us TO add that regarding the matter
more broadly, we think the Governors decision mis-
take Here are some Of our reasons:
The State of New.York is just about half supplied
with railroads. The great main lines are competedi
but many short roads and branches, crossing every
county and reaching every productive section, are
still wanting.
Our existing roads have cost, we will say Two
Hundred to Two Hundred and Twenty-Five Millions
OF Dollars They could not be constructed to-day
for one cent less than Three Hundred Millions. But,
ifthey were all brought under the hammer tomorrow,
they would not bring over One Hundred and Twenty
five Millions. And, of the forty fifty different cor
porations, we believe tho stocks Of barely two are
above per. A majority of them would not bring fifty
cents on tie dollar.
Yet the benefits, the blessings Of Railroads.&c.
every one except their stockhoders-are so manifest
that every neghborhood not already supplied Is eager
to secure them. New roads are projected through
almost every valley companies are organized; and
every means employed 10 get the roads built-some-
how-anyhow The fact that the agricultural pro-
ducton Of our State is being rapidly concentrated
upon few staples-Meat, Mix, Butter, Cheese
Fruts-all Of them requiring rapid rather than cheap
this general eagerness5 for
railroad facilities at hand.
But while every neighborhood wants it, railroad
nobody wants TO build, or help build. new railroad
in our State. While millions Of dollars leave Wall.5t
weekly to be invested for profit, in building new rail-
roads in Iowa. Minnesota, Missouri Nebraska,
Kansas, &c. not one dollar can be got there 70 build
another railroad through rural NewYork, unless as a
virtual charity.
Hence, every new railroad project throws itself yir
tuay upon State bounty. some process akin 70
Mexican forced an'--such as bonding Counties
and townships by popular yote-a process sure to
lead in the end to waseful lawsuits and ieuds If not
to downright reputation. Nothing Is surer than
this: While capitalists and railroad men often lose
money in what promised 20 BE- profitable undehak-
ings States and farmers almos, never embark in the
business without losing all they putin.
But the pressure for State aid or for the dangerous
bonding process, or BOTH is destined 70 become more
and more imperions and unconirolllble. There were
half dozen Of these projects before our late Lega-
ture; there will be dozen before the next; there
will be thirty three years hence aud while the Veto
power may serve 70 protect tlxridden people for
one or two years more. the time is at hand when this
dam will be broken oyer by the swelling, raging
hood--with what results. no one can foresee.
1t seems clear 10 that present restrictions on
Railroad fare-not merely that on the Central
especially, but the general restriction well-will
have to be given up or greatly modifed-and the
capitalists now involved in railroads with many
more as can be drawn in, virtually told" Take hold
Of these projects the best of them; make the
roads, and charge q living price for their use. You
may not be able to make them profitable directly;
but as feeders to your trunk lines, they will pay, if
built and run economically while those who use them
pay fairly for the accommodation they afford"
In other words: There must and will be at least a
thousand miles more of Railroads constructed in our
State within the next ten years; and the practical
question is" Shall they be paid for by those who
them, and by the main lines which will profit by
them or shall half their cost be saddled the whole
people, by of State aid town and county bonds,
&c.i Shall Westchester, Queens, Rensselaer,, ST.
Lawrence, &c, &c, be taxed in order TO provide
Chenango, Sullivan, Ulster Warren, Essex &c, &C.,
with railroad transporton at half its cost Or shall
encourage the capitalists now embarked in railroads
to provide the requisite facilities in such not
to swell our mountain of State debt and taxation 2"
Without reproach to the good and true who disa
gree WIN uS, We anu Ipc thdI pollCy
which promises to keep down our State Debt and put
the cost and risk Of making railroads on those
whom they will more especially benefit.
Such are some Of the grounds which il seemed TO
us best that the Central fare bill should have been
signed and on which shall urge future Legislatures
to modify the general restriction on Railroad
fares, and in every feasible way cherish and encour
age the Railroad interest in our State.
TILE ApPREME NaI0N AR GHAIERA.