New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-06-05
4eip Oxleaus 8epnbltea,1.
OFFICIAL JOURNAL OF THE UNITED STATES.
aff,t,sL JOURNAL OF the STATE OF LOUISIANA.
RAILROAD INTER EATS IN MIS-.
Il. 0IS0IPPl.

fffjCiAl JOURNAL VI Inc StAie VI luulS'AHA
RAILRoAD INTEREsTs IN MIS-
sIS0IPPI.
s,esch Of Hon. CAss,us ID. Landon. O.
Warren Ooanty. ON tho Proposes
General Railroad Bill, Delivered II
abe House Of Representatives o.
MississipDl. May IL. 1870.
Mr. SPEAKER: The hour has now arrived
for the consideration of the general railroad
bill, which was introduced into this House
by the gentleman from Adams Mr.. French)
and which entities him, in our judgment, e
the credit of having introduced bill which
promises more in the way of developing the
resources of Mississippi than any other thai
can at present be offered.
am glad that occasionally during the
progress Of this session, questions arise, the
consideration Of which is not Influenced by
party preference, and is not controlled BY
partisan feeling.
am sure that, in considering the bill now
before the House, We can all lay aside oul
political character, and discuss this grea,
question upon its naked merits.
In my judgment, there is nothing, Gun
less, indeed, it be the subject OF education
which is of more vital Importance to the
material interests of the coiored man and
the white-the Northern and the Southern
man, and all the people than is the subject
of railroads.
The present demands of our State-her
vast undeveloped resources; her genial Gil
mate, and fertile soil, all assure US that en-
terprise, and activity and labor will make
for her bright aud glorious future.
The question of railroads is no new ques'
ton. We have but to glance our eye over
the map Of most parts of our country, and
we find the different sections knit together
by grand lines of railroads, binding the
different States, sections and interests to.
gether as the body is interlaced and bound
with cords and veins.
Within our day We have seen States, SUM.
bering in inactivity, becoming rich and
commanding by the development OF their
heretofore dormant resources. and railroads
have done it.
Wherever, IS general rule, the ''iron
horse" makes his way the value of land is at
once greatly increased, enterprise fostered,
activity quickened, civilization advanced,
and wealth flows in to the individual, the
State and the nation.
Mississippi, as is we'll known, has neither
money nor credit to aid in the construction
of railroads, as has been extensively done in
other States, nor, we're it otherwise, could
she do so, as constitutional provision,
which, in her unfortunate condition. is un-
doubtedly q wise one, prohibits the loan of
State credit to any private enterprises.
1t becomes. therefore, a necessity at once
apparent to all that she offers every other
possible inducement to the introduction Of
railroad capital.
The bill here introduced, is believed to at
once fill the measure OF all that Mississippi
can do in the premises. 1t is believed, too,
that it will accomplish more for the future
of the State than even its most ardent friends
dare to hope.
1t at once and for the future removes all
of the various obstacles hitherto in the way
of the introduction of railroad capital, such
as difficulties attendant upon expensive and
oft times impossible legislation local OBJ
stacles, such rs obtaining the right Of way,
with necessary lands, etc.
1t says to the capitalist, we throw open
the ield-here is at once rendered as the
law of Mississippi, all the various statutory
provisions which the wisdom of years of
railroad legislation in the older and more
progressive States has shown to be most eff
fective in aid of the construction of rail-
roads. If We can not help with material
aid, we will at least offer all the facilities az
forded BY those pattern States of progress
sion-Ohio, Illinois, Iowa. Missouri-and
under the late regime. of Arkansas as we'll.
1t wipes out at one blow all special rail-
road legislation, and substitutes instead
law which is q complete railroad law of
itself, in fact, complete digest of the laws
Of our most progressive Western States,
passed to meet the various requirements in
aid of railroad construction, as also in
guarding the interests of the State. Let us
see what q saving in expense alone this law
viii be to our State simply in the way OF
legislation. There are now in various
stages of manipulation an almost innumer-
able number of railroad charters. OF how
much value, or how many, are and must
ever remain mere paper schemes, is of little
consequence here. All will take good
deal OF our time. 1t is, perhaps, not saying
too much that in the whole we would con-
sumo thirty days in legislating upon rail-
road charters.
1t is estimated that the expense of this
Legislature to the people of the State is two
dollars per day. Here, then, is
sixty thousand dollars worth of time cor
sumed in railroad legislation. Now here is
q bill that at once answers every possible de-
mand of the whole. Not one of these
schemes, If the proposed cOrpOrators have
confidence enough In the success of their
enterprise, or are able to subscribe among
an amount of stock equal to the
sum of one thousand dollars per mile on
the line they propose to build, but can in
corporate under this law.
If they can not comply with this simple
provision, they most certainly have little
business to talk of building railroad.
The proposed corporatOrs have but to
write out their articles of incorporation, in
with the simple provisions of
this law, subscribe their names thereto,
with an amount Of stock, as said before. of
one thousand dollars per mile, file the arti-
C es with the Secretary of State, and the
work is plished-their charter is
effected.
1t within two years preliminary survey
be made, five per cent of stock subscribed
be paid into the directors, and the work of
construction be commenced, the charter
holds for ninety-nine years.
II at the expiration of two years the five
per cent be not paid in, the preliminary sur.
vey made and the work begun, or if after
begun it be not finished in ten years, the
charter lapses to the State.
The State Is thus, while extending the |
most liberal offers to all who desire to build
3 road, secured at the same time from
placing IN the hands of mere spectators
who DO not propose to ever build, but to |
merely hold Tor a future buyer, or to pre- |
vent others from buildings perpetual |
charter.
Nor are we called upon to pass upon law
that is mere experiment. On the con-
trary, this law, as here presented, ia a com.
plete digest or compendium of the various
laws existing in the States of Ohio, Illinois.
Iowa, Missouri and Arkansas.
The incorporating clauses were, we be-
lieve, originally drawn by no less distin-
guished parsonage than Senator Trum-
bull, OF Illinois. At that time the Illinois |
Central Company arrogated to itself the |
right to control the railroad legislation of |
hat State.
By those various processes of fraud, |
and bribery which have dis
yraced most railroad legislation, and which |
his bill effectually wiped out, the Central
Company were understood to defeat all char.