The Portland daily press., 1868-03-28

in New Hampshire, Vermont I
and Maine, advocate the former ana Oppose
the latter Why? III -.
Fjrsf. because the former if built Will not /
helm Portland or hurt Boston in respect TO |
81 estern trade: and secondly, because she be- I
lieycs the Rutland road viii noO De punt. one |
has no anxiety on that score-pue she tinnks |
il is"a good enough Norgsn 70 o,Vius the peope |
of Portland and defeat the OgdensbuTg road |
the vast Importance OF "hici ~ Eertlahd she
sees and understands.
4. Jtis alleged in the interest of Boston
and Boston roads that the country la Vermont
Ehrouah which the Ogdensburg road passes,
is sparseiy settled having but little wealth,
and cannot do much either TO build or sup
port railroad.
Fact. Towns aud individuals along the line
of this road in Vermont lin line more than
100 miles IN extent) have already raised by
subscription, or will raise, as there is the high
est authority for saying, at least 10 per cent.
OF tue cost OF the road. The country is album
dainty able TO do it, There is no finer region
OF country in New England. THERE'S no ag-
rcuilural community on earth more wealthy
and it is not purely agricultural county.
1t has large manufactures. One manufacture
ing firm on the line loads freight cars daily
with manufactures or raw materials. Does
not Portland care whether the traffic of this
firm comes to and goes from her or not? Has
she no interest in the immense coal and iron
supply OF this establishment all of which
would be carried from her own wharves and
warehouses? One third OF the State of Yer
nont is nearer Portland by this line than it is
to Boston, by an average distance of rs miles.
Is it nothing TO secure the entire trade of this
section? AS it will have contributed to build
this road its interest is to increase the bust
ness over it and to do its own trade upon it.
1t is under bond to the extent of its stock in
the road TO ,trade with Portland A single
town in Vermont will in its corporate capaci-
ty and by its individual subscriptions, contrib
ute from 100000 to S800,000 in order TO open
a way to do business with Port
land. Does it become to stand at the gates
Of the city with pike poles and spears to press
these people back? Cannot this. city with
35,050 people do as much to bring this large
territory to her doors, as st. Johnsbury with
with less tban5, 900 will do that she may come
to them? Where st. Johnsbury will gain five
dollars by the road Portland will gain hum
dred.
8. 1t is said that this thing of cities and
towns subscribing for stock is something en-
tirely new-something that has never-been
tried elsewhere. fla s rn
Fact. This is a. mistake. Bath and Belfast
have each subscribed largely for stock in the
Shore and Moosehead railroads, more largely
in proportion to their valuation and interest
than Portland will be asked to subscribe in
the stock of this road. Bangor has subscribed
$780, 900 to the stock of the Piscataquis road
beside loaning her credit to 1t for half a mill
lion. Portland would derive ten times the adj
vantage from the Ogdensburg road that Ban
gor possibly can from the Piscataquis road,
even without reference to the through bust
ness. At least twenty other cities and towns
in Maine have subscribed g. 10, or Is per cent.
of their valuations to roads which it is suppos-
ed would benefit them. In Vermont, the
towns have subscribed to that portion OF this
line which runs through them 5, TO-, or even a
larger per cent, OF their respective valuations
In New Hampshire, this sort of aid may be
granted under general law. et Z
O.. The city will lose the money she puts in
to the road. lF ,11j
Answer. There is believed to be no road of
| any extent in New England which does not
| pay per cent. on a cost equal to what lit has
been SEEM this can be built for. II it was safe
| and justitiable to loan credit to road costing
! $4,000, per mile, of which only from So, 900 to
| $4,000 per mile was stock subscription, leav-
| ing from $4,000 to $35 600 to be raised by
bonds, why is not stock in a road which
costs but $4,000 to $4,000 per mile, just as
| good and secure as bonds to a like amount?
| Ii a road will pay coupons on $50 900 per mile,
may it not pay interest on stock to that
amount? Ii rot, why not? Is there any doubt
that if this road is built on subscription, that
it can be done for about $4,000 per mile, in
| Guiding everything? Certainly none. Many
OF the shrewdest men and closest calculators
in Portland believe that this stock will be an
| actual source of profit to the city within five
years after the road is opened, and that it will
| sell at q handsome premium. The dark day
| for railroads has passed. With better methods
| and wiser management, they are everywhere
| around us becoming remunerative. 1t is pre-
| dicted by some of our enterprising merchants
that this road would double the wholesale
| trade of the city within three years, and that
| the city's stock in it could be sold for hand
| some advance at the expiration of that period.
| Especially may this result be reasonably look
| ed for when it is considered that roads on this
| line west of Rouse's Point, have given pledges
| of aid which it is thought may be equivalent
| to the interest on sum equal to the original
| stock subscriptions on the majority Of the
| roads in Maine. I!s i.ia
| z. 1t is insisted that the rendering of this
| aid will occasion more onerous taxation Of
| the people and will on that account deter men
| from coming here and doing business.
| Answer. 1t is confidently believed that the
wealth Of tho city, SO that the taxes will be
lower than they are now or would be if the
road should not be built twill furnish ten
ants for our vacant shops and stores, and Gus
toners for these tenants. We may if we
| please stand out against this road and defeat
| it, and serve notice upon the world not to
| come here. We may say that we have men
| enough and trade enough already and that
| we will not have an increase OF the people, or
| of business. How will our rents rule if we do?
| Who will pay our taxes then? Not new COM
| ers and new property that may be attracted
| here by our own enterprise and life, but only
| those who shall remain after we shall have
| elected to subside into sleepy and respecta-
| Die UOTOugu. luO rear estate ana capital
the city of Portland, its merchants, manufac-
turers and mechanics, it is respectfully SUBJ
mitted, cannot afford to kill this enterprise
because Boston asks them to do so. There are
railroads in New Hampshire and Vermont,
that would doubtless pay half million of dol
lars if they could permanently defeat the
Portland and 0gdensbnrg road and their in
fluence is felt ih-this city to day.
g. 1t has been asserted that this enter
prise is founded in opposition to the Grand
Trunk Railway, and that the construction of
the Ogdensburg road would operate greatly to
the injury OF the Grand Trunk. =.
Answer 1t is known that the policy of the
latter has been to make Portland not its base
but its way station. 1t carries goods, &c. to
and from New York and Boston, from and to
Western cities uia Portland at the same rates
that it does to and from Portland, and some
times for to1uer. Portland merchants have at
times gone to Boston and contracted to have
goods sent from that place by this road be-
cause they could make better bargains, as
Boston men, than they could as residents of
Portland This policy of doing business for
New York as cheaply as for Portland is I'M
natural and ruinous. 1t does not pay ex-
penses. The road is used up; legitimate busi-
ness is delayed and diminished, and the road
becames bankrupt. Now the Ogdensburg
road must of necessity make Portland its base
Its traffic must all be with reference to Port
land prices and, besides, 1t tcW be under the
control and management Of Portland. So there
will benefit our city.
The Grand Trunk must make its policy CON
form to that of the Ogdensburg road. This is
plain-When it does so, instead of there being
one line to the West, and that discriminating
against as, we shall have two lines competing
for our trade, and acting in our interest,"
Then the Grand Trunk will adopt a policy
which will give it all it can do, and at remun-
erative prices Then will the Grand Trunk
become, under wise and able management.
what 1T ought long ago to have been, splen-
did success. e
9. 1t is charged that this road is to be a ri
val and opposing road to the Portland and
Rochester road !, ~ ~
Answer. Not so-but will be its best friend
Build up Portland and you increase the bust
ness and prospects of the Portland and Roch-
ester company. The latter cannot possibly
open Northern Vermont or Lake Ontario to
our city as the former can. But it can give us
another route to Boston and also a through
line to New York. When the European and
North American Railway is finished, and the
projected lines in Eastern Maine are complet-
ed and the Ogdensburg road is opened, the
amount of travel centering in Portland going
to South Western New Hampshire, Western
Massachusetts, Connecticut, New York, the
Central, Southern and SQuthWesterlyt States,
will be immense and will demand of the Port
land and Rochester road at least two express
trains daily copneeting this city with New
York, for the 6mmodation of the public
and the increase of its own revenIfes
The day and the hour are at hand when
Portland must determine her destiny There
is no other city in the United States that with
such opportunities, would hesitate moment
as to her course. She may become first class
commercial emporium, or she .may permit her
self to fall INTO the category or dulla and drowsy
cities in xyh9fJl trad a.sShaI 1anru;sh a.