The south-western. [volume] (Shreveport, La.) 1852-1870, 1869-05-19
City Railroad Subscription.

/ The City Council have passed an ordinance subject
the ratification of the persons to be assessed, to sub
scribe $4,000 for stock in the Southern Pacific road
to aid in its extension beyond Marshall In its details
the ordinance provides the amount Of subscription its
reference real estate for ratification Or reec
tion the of this determination by election
and the mode of payment The amount assessed is
A per cent Of the value OF city real estate as ap
praised by last assessment. 1t is estimated this per
ccntage will raise the sum Of $4,000, as before
mentioned. This subscription is payable aud collect
able, onehalf within thirty and the other half Rithin
sixty days after tie ratification Of the ordinance by the
voters TO whom it is submitted. Each subscriber IS to
receive stock to the amount Of the money he pays n
We careful call attention this provision and will
remark in further explanation of it. that by virtue of
it. the city itself is neither subscriber stoekhoder,
but the individual who pays bis money himself receives
the stock For this reason it is misnomer to call
this subscription tax. tax is burthen imposed
by sovereign power. This subscription is purely vol
untary the part of those who will vote for it. and
only involuntary the part of its opponents, as the
law of the majority prevails in this country. Perhaps
to the latter in its true if not technical sense the
subscription may be called tax to the extent of its
being Involuntary only Properly considered however,
it is only mode Of eqnasing contributions from that
species OF property, and that alone which railroad ia
ciities are supposed benefit in like degree to wit
real estate and it is the mode rcsorted generally
throughout the United States for nearly twenty years
Its justification, against the unwilling or opposing
subscriber or taxpayer, you please to call him SUCH
lIesln the fact, that you do him injury all for
the enhancement Of lis property will more than COM
pensae Linn for this forced appropriation of his per-
centage, equal share; and upon the equitable doc
trne that, in matter Of mutual interest and mutual
liotraitS, Tor common purposes, no selfish and
no stngy man, no nonresident of vacant lots
held for speculation, shall be allowed to derive bene-
Its without contributing to them On the other hand
consent on the part of the willing destroys the char
acter o! tax altogether as to them 1t is gelfim-
posed contribution based upon the most equitable and
practicable mode Of cquaisation tn this light We hope
our citizens will view and ratify the ordinance If We
watt in the matter Of city aid to raroads and other
until the consent of every cfotchety
man in tie town is obtained or until abstract theories
about the right to draw money in this mode are either
vndicated reued in the polenics of the streets aud
The Saloons nothing of coGrsc will ever be done We
would perish as city i'll this age Of swift competition
and progress. We would add one word only further
This mode OF subscribing for stock is the proposition
of Shreveport property-ioders, and is not what was
asked for by the railroad company. Tie company
wanted loan. The plan now submitted by the Couu-
ell for these and other good reasons we could give
We hope will be approved and ratified.