The national Republican., 1867-07-25

btAoUk'-h mcoting ot tnh oiBnnhasvn was
held at tho rooms Of tho Board Of Trade last
evening, John r. Elvans, ESQ, president, In the
chair, and L. Edwin Dudley, secretary.
The secretary reported that the plan Of o rail.
road, TO run,throuRh Virginia TO the West, had
been under consideration by the Business Com.
mittee, and psked leave TO report at an adjourned
meeting which was granted.
Judge Aionso Sherwood, Of Texas, was then
oduced, and addressed the meeting at great
length. He said the object Of the League was
TO show how cheaply railroads could be con.
structed on the cash principle, and also 10 show
that only thirty per cent Of the present rail-
ways wero developed. By double tracks, he
said the present high freight tariff would be 70.
duced ons-haif and that railways could be con.
structed at less cost than now. No one could
dispute the propositions Of the League, and indi.
viduals and the press already see their feasibil-
ity.
Senator Pomcroy had told him that he favored
tho general plan, and should the bills now before
Congress be acted upon the construction Of
cheap freight railways would be fixed fact
II economy was used In building railroads for
cash, fifty seven per cent. would be gained, as
forty three per cent. Of present railroad stock
was fictitious The railway system Of Texas
was alluded to by Judge Sherwood, showing that
the charters OF roads In that State were based on
the cash principle, and the tics, iron and every.
thing to equip road there was paid for In cash
When he went to New York to purchase iron for
the roads the iron men threw of I've per cent 4,
and the locomotive builders made o deduction
Of fifteen por cent. for cash, and many took
stock In the enterprise. Even the grading was
done for ono third less, because the work was
paid for rs soon as finished.
Those, he said, were business principles, and
the only ones to succeed. On fiction, SO, 900
per mile was paid, md he declared that any
legislator not seeing that dividends were paid on
a ha 81 .ant D. La
itentiary, or kept at homo by their constituents.
Every individual engaged now in railway man.
agement considers II a virtue to rob the COM
pany, thus crippling the enterprise. The speaker
believed In making money out Of railways, by
creating property along the line, and said that
the Erie canal created $40 for every dollar ex
pended.
Judge Sherwood said he could build railroad
from Washington to Lake Erie by creating q
stock on proper cash principles. Such a road
would create business, make Washington com
mercial centre, and in 20 years It would boast Of
q population Of 800 900 souls. The District Of
Columbia has natural resources greater than
Philadelphia, and commercially Is equally as we'll
situated.
The bills now pending before Congress, II
passed, would establish seven great cheap freight
railways, which would cost 5000, 900, 900, and
give 4, 900 miles Of double track, and when com.
pieted would be beneficial to the people at large.
The speaker pledged bis word, and guaranteed
to the citizens Of Washington, that If they make
up their minds aud push the matter, Congress
would do all In Its power to make the District q
railway centre. II Is only necessary for the peo-
pie to ask and make known their wants, and n
charter will be granted them. Fifty members,
he said, were desirous that Washington should
become place Of commercial Importance. Pc.
cuniarily, he was not interested In Washington,
but, pecuniarly, hc was Interested In the ceaeral
principle and advocated the creation of property,
which results from Improvements, but not plum.
der the improvement itself.
lie condemned monopolies, and said the inter.
est Of the people could not be protected unless
they arose In their might and put them down.
Tho proposition Of the National Railroad League
was becoming popular because the people, the
press, and Congress endorsed II. Mr. Henry
0'Riley, Of telegraph fame, Is the Secretary Of
the League, and in q short time tho people Of
the country will be surprised at tho great array
Of names which he will present friendly to the es.
tabishment Of Cheap Freight Railways The sub
ject was also awakening the people Of the South,
from whom he had received several letters, urg-
ing him to push the matter to completion as
they believe the construction Of such roads will
20 farther toward healing the wounds Of The
sections than all the military bills that could be
enacted. All that was now needed 10 to act In
concert and harmony with Congress, but II we
get any ything We must work for 1t.
A committee was appointed to collect funds to
defray the amount OF expenses Of the League,
as follows: Messrs John X. Elvans, William Ii.
Claggctt. and J. H. McNamara
. The following committee was appointed to
prepare addresses for publication, setting forth
the full purpose and object ofthe League: Messrs.
George L. Walker, Judge Edmunds, and J. II.
McNamara.
Capt. Millar suggested the propriety Of ap.
pointing q committee to wait upon the editor Of
the Chronicle, and apprise him of the fact that
there existed such a place as Washington, that
journal ignoring such q city in an editorial ar.
ticle in yesterdays issue, wherein Norfolk was
lauded at the expense Of Washington city.