Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1870-09-27

estimated distances are as follows; e
North and SOuth-.~---........ 200 miles.
Alabama and Chattanooga. 800
Memphis and Selma.........~. 100 I"
Montgomery and Eufaula-..-.. 90 /"
Selma and 90 I"
Memphis and Savannah. $50
Vicksburg and Brunswick. $50 I"
Cincinnati and East Alabama. $50 "
Total ...........-....... -........ 1850 miles.
Each of these roads having already
been commenced, will probably en-
title itself to the Endorsement of
its bonds by the State to the
extent of S18,O 900 per mile, which will
mount in the aggregate to $40, 200, 600.
In addition to this amount, there has
been extended special aid as follows:
North and 81 zoo 900
Alabama and ChattanoOga-........ 1000. 600
Montgomery and E~ufaula--...... 300, 900
Montgomery and Mobile .......... 2,5OO,O 900
ST, coo, 600
This, together with the SIG, 200 per mile,
will make S36, 200, 900, if all the roads
above mentioned should comply with the
conditions required by the general law
now in force, and with the several acts
granting special aid. It may and proba-
bly, will be many years before alt these
bonds will be issued, because it will take
many years TO complete ali these roads.
PROJECTED ROADS
There are also many other projected
roads upon which work has not vet been
commenced, some of which may get the
benefit of State aid, among which are the
Grand $50 miles.
Elyton and Aberdeen .-........l2 "
Decatur and Aberdeen....--.....I2O "
Selma and New Orleans........IOO q
Tennessee Il Marion rivers. $50 4"
LOtai. 140 miles,
On two of these roads, the Grand Trunk
and the Selma and New Orleans. work
may have been commenced. There NAV
be some other projected roads which will
increase the number Of miles to 1000.
which, $4,000 per mile, would make SIG
900 600 if they should all receive State aid,
which Is not very probable. The whole
on liabilities for railroads
would in that event be $40, 200. 900. but it
is quite certain that all the projected roads
will not comply with the terms imposed.
and the probability is that the amount OF
state aid granted will not exceed
s2O,O00,0o0, and If the laws should be
faithfully executed, the State will be
secure from the possibility of loss. There
IS not one OF the projected roads which
Will not be worth, when completed, more
Sl6,OOO per mile. At present the
rallroads in b State, although matsri-
ally injured by the war, their rolling
and Locomotives destroyed, their
rails nearly worn out, their road beds
seriously damaged, have been estimated |
more than $l2, 900 per mile. II takes
all of the net earnings of thass
to repair losses sustained in eonse-
luenee OF the war, and to replace the
'alhs u rolling stock. Considering their
condition. 1t is astonishing that thew are
worth as much as they are valued
II. If roads in their condition are
worth sl2,Wo per mile new roads we'll
quit ana Well-eauipped should be worth
y tasss twenty-five or thirty thousand
lqliars per mile. There is not a road in
that has twenty miles eomnla |
ed and equipped that viii not sell for |
much more b the mount for which |
state Is liable on itS account. /
II DANGER |
Inc great danger is that the bonds NAV !
lot be applied in the building OF the
oaqs or may be improperly and fraudu-
entity issued. Every dollar should he
pplled n extending She road and there |
mould be some provision in the
securing this. You shouldl
against an unfaithful application
II q fraudulent issue of bonds by strin-
,ent legislation and the election O honest
@K@SA aAGA ~ ANlNLANINEI6E LUH HLAL n
government. /
Az ILLUSTRATION. i
To show you that the State Is in no
/ will take as an example one of
be roads of which you have heard much
nd which has been fiercely assailed. /
llude to the Alabama and Chattanooga
Stanton's) road. There is not the slight
st danger that the State will ever have
o pay one cent either of the principal or
he interest of the bonds loaned to or
ndorsed for this Company. The liabiIi-
les Of the State for this Company will
mount to about S., 800, 900 when the road
5 completed, and there will be a fret
mortgage on property belonging to this
company, worth at least ten millions
dollars TO secure the State. |
have been thu particular in mention
ng this road, because some OF yon may be
lnder the impression that the State has
made a gift to this road Of $1,000, 600, /
which the people will be taxed to paw.
is an entire mistake. The State has
lever paid and never will have to pay one
lent for this company, whilst it has ex-
millions among the people Of
Alabama, aud viii bring q food of wealth
the State by erecting magnificent
olling mills and workshops along the
inc Of their road.
LESSONS OF d
Another Danger to which your State Is
liable is that by hostile legislation or q
decrying of the credit of your
tate some Of your roads may be
eft in an unfinished condition, and have
0 be sold to pay the bonds Endorsed by
he State, whilst even in that event
our State would be saved, harmless
he failure TO finish the roads, would DELAY
he Improvement of the State and throw
Ter back many years.
FUTURE OF ALABAMA.
The history of railroads in other States
hoWs what Will be the result here when
system is completed, Railroads
ring. population, and poLlation brings
The wealth of Indiana Increased
SlS7, OOO,O y in 1850 10 S3I7. 600 600 in
S57. Ohio had $499, OOO, 900 in $50. ana in
$50 $S49, 900, 900 of taxable pronaav
Georgia had $24S, 600, 900 in 1850 and sos.
O9,0OOi in 1857. Tennessee had xI59.OOO.-
90 in 1850, S3dl ,000, 600 in 1861.
1t is true the war destroyed a large DOR
Of the property of Georgia and Zen
Iessee as 1t did their railroads, but the
OF taxable property In Tennessee in
S69 was S22S, 0O0, 900, and this does not in
Jude slave property which is included In
be estimate oflS50. Most of the railroads
n Tennessee, Notwithstanding the heavy
1sses sustained during the war and their
ccumulated interest in that time, have