Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1870-03-30
REMARKS OF
HON. WILLIAM A. WALLACE,
La 4hn cnna4n March i6 iQ7n


In the Senate, March Is, 1870,
On the bill entitled "An act to facilitate
and secure the construction Of an addi-
tional railway connection between the
waters Of the susquehanna and the
great lakes, Canada aud the north
western States, by extending the aid
aud credit Of certain corporations TO the
Jersey shore, Pine Creek and Buffalo
railway, and other companies"
Mn. SPEAKER: | would be glad to
escape the responsibility that is
thrown upon me by the bill that is
under consideration il would have
pleased me much had l been spared
the necessity of meeting the issue
that now confronts us but, sir, as a
representative of the people Of my
native State, nay more, sir, as the
representative OF n section of the
Commonwealth which up TO this hour
lies waste and undevelopcd, | feel it
TO be my sworn duty to come to you,
Senators, and ask you TO survey the
fair field that you have within your
borders for the employment Of your
idle means, and to examine the power
and opportunity you now have to
mako the wilderness to blossom like
the rose and in order that you may
do what you can, under your organic
law, to give wealth and power to the
people, and population and taxable
values TO the Commonwealth. When
| contemplate the magnitude of tho
issue before us, | hesitate to meet the
responsibility, but | cannot evade it,
in view of the fact that | am a repre-
sentative Of people who labor under
difficulties inuumerable for the want
of that which you can give them with
out doing violence to yourselves, and
without taking dollar from tho
Treasury of the Commonwealth, as
firmly and honestly believe.
Let us examine this bill. / shal
endeavor to discuss this question dis
passionately and calmly, and ther
permit the Senate to determine, as I,
them belongs. The bill before u
provides, in the first section, that tn,
six millions Of bonds of the Pennsyl
vania Railroad Company, now in th,
Treasury of the Commonwealth 70
application to the Sinking Fund, shal
be delivered to the Jersey Shore, Pin
Creek and Buffalo Railway Company
to be used in the construction an,
completion of that railroad, when
guarantee for the construction an,
completion thereof shall be furnisbe
10 the commissioners Of the sinkin
fund, and when they file their bonds
to be secured by a first mortgage wit
a like amount of interest, and payabl
in like manner, but il postpones thei
payment for the period Of four year,
in order that the road may be complC
ted. When this shall have been dont
the commissioners of the sinking fun
are directed TO deliver to this railroa
company these bonds Tho secon
section also provides that the thre
millions and a half of the Allcghen
Valley Railroad bonds, also in tn
sinking fund for application to th
, State debt, shall be taken and applied
81 100000 thereof 10 the completio
; and construction Of the PittsburJ
Virginia and Charleston Railway
, the Southern State line; sl,400, 90
to the completion of the Cleartiel
and Buffalo Railway TO tho Norther
State line, or very near TO it; an
: 100000 TO the completion Of a brant
of the Erie and Allegheny Railwa,
in order to,make a wide gauge come
tion between the Atlantic and Grci
Western Railway and the harbor
Erie. These bonds are also to be r
placed by a second mortgage Dor
given by these respective companio
These Allegheny Valley Railrol
:, bonds arc second mortgage bond
/ When these guarantees for the cor
pletion of these roads are all file
and not until then, the commissions
Of the sinking fund are directed
deliver the securities This is,
effect, what tho bill provides. n
securities TO be taken from the sin
ing fund, it is scarcely necessary I
ID me to repeat, come from the procee
of the sale of the public works. 4
three millions and half of tho AL
!, gheny Valley Railroad bonds VIC
Il Transferred TO us last year from I
( Philadelphia and Eric Railway Co
:, pany; we exchanged the security
order that VIC might secure tho co
pletion Of the Allegheny Valley Ra
- way and so as to make n low gra
. railway connection between the c;
and the west; they werc guarante
a. and are now in the Treasury OF I
Commonwealth for application, q
=. are good marketable securities. l.
!. year we initiated tho policy we I
on now attempting 10 continue. 1t
,ie sought now to secure the completl
" of three new lines of railway in un
". vcloped sections by tho use of
in securities of the Commonwealth
mt Let me glance at the country 10
developed by these railways. In
first place, the Jersey Shore, p
rs Creek and Buffalo railway aims q