Prescott journal. [volume] (Prescott, Wis.) 1861-1871, 1867-05-11
From the Hudson Star and Times.
Aid 40 Railroads.

Senator Fulton, Of this city, at the late
session Of the legislature, introduced a
bin which was passed, to amend the con-
s,itution so as to allow the State TO loan
ia credit to railroads. The proposition
i. simply, that the State shall donate its
bonds. at the rate of IS 900 per mile, OF
shall give 100000 for every conseeu
tive twenty miles of railroad built. The
constitution cannot be amended until the
resolution has passed another legislature
snd been raIifed by an affirmative vote
Of the people.
The proposition is an important. as
we'll rs a novel one. and will no doubt
attract general attention. We Intend TO
vote, If We have the opportunity. in ia
vor Of this proposition. Our reasons for
80 doing, as far as We at present can see
them, viii lie OF local, and so Of a par
italy selfish nature. In this section Of
the State We rlsed railroads. We must
have them. We will do all in our power
to hasten their coming. If the compan
les who have control Of the roads prniec
ted here, could get bonus OF 100000
for every 20. miles Of road. they would
be more than likely to increase their ac-
tiyity in building them. For this reason,
and perhaps hereafter for better ones, we
vote for railroad aid.
But rs TO the benefits to accrue to the
State at large, from the adoption of this
proposition, we entertain serious doubts.
TO be sure. it is a new thing, and we in
common with Others, have given it little
thought AT first sight, the proposition
IL alarm Ing. IL carried. It will create an
enormous debt. and debts, whether of
individuals or corporations, are all y avs
20 be dreaded. Debts are burden, and
prudent men hesitate about assuming
them. Debts imply interest, interest
taxes, and taxes hsrdships. 1t is urged
that the added income to the State by
the building of new railroads, would paw
al the interest on the debt created. 1t
might aud it might not Il is an exper-
imeut at best, and sometimes il is not
wise to try experiments, no matter bow
fruitful they promise. Another ihiDg.-
When State becomes heavily in debt,
its credit is apt 10 get weak, and needs To
lie carefully and honestly watched Ii
sutfrs by commissions, and is often bias
fed BY the changes of a tickle money
market. A public debt, too, hike a pub
JIG fund, is prolific Of corruption. Office
seekers swarm around Il. LOOseness
creeps into its manag ement. 1t is al
lnost impossible to- see the end from
the beginning" Debts, public or pri
vate, should be as n rule Rvoi dcd. They
have ruined hundred individuals or
corporations where they have saved one.
These arguments are against debts in
general, aud spply with some degree Of
force, against creating n debt IN this State
90 aid railroads. 1t might be urged with
force too. that this proposal will retard
The building Of railroads for two years,
until It's fate is decided. This is uu-
dOubtedly true. The offering too, of SO
large bonus. would stimulate all sorts
Of foolish railroad enterprises. Roads
would be projected and partially built
where they would never lay. aud would
become bankrupt, be !orecloSed and sold
out before their completion, the peoples
money gone and nu road secured
Enough foolish railroad projects are al
ready coneOcted, and enough money
thrown away on them. without offering
bounty for their increase. The lapse
Of time between the commencement and
the completion of lines of road, would
dIaw immense sums from the State with
little return in tax on the roads. Final
", If the railroads are ca led upon to pay
a heavy tax. they will charge il back IN
high tar ifs, and the people viii pay it af
ter all.
These arc some of the most apparent
eli euOns to this proposition Others
suggest themselves, but we have not
space to mention them now. There may
be MANY arguments in its favor, which
We shall allude to hereafter. We advise
the penPle to study the question in all its
bearings.