New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-06-05

main, adding the provisions found in the
latter part of this bill, providing how, and
In what manner, counties may subscribe
stock in aid of contemplated lines of road,
In many counties Of some Western States.
there had been something of bond war.
Counties. after having in good faith sub
scribed aid, in large amounts, by perhaps q
small majority, were afterward so manipu-
lated by politicians Is to endeavor to repu-
diate the same thus causing long, expen-
sive and bitter legislation, and tending no
little to bring the entire State into disrepute
in mOneyed circles, as also, to most seriously
| retard the progress Of the road.
To obviate all this, Iowa made it first q
condition of county aid that an actual and
sworn survey, with estimates, be filed in
each county, with q petition of one hundred
voters. praying an election to decide upon
the matter OF giving or rot giving such aid
as might be asked.
Instead of bare majority of voters being
required to grant the issuance OF bonds, 1t
was made requisite that two-thirds OF the
voters should 80 decide.
Once issued, by two-third vote, the
bonds were so guarded as to forever set at
| rest all doubt upon the matter OF the prlncl-
pal and interest being promptly met when
due.
The State, in fact. while not made of itself
| responsible, was yet made the custodian of
| the honor and credit OF the county.
1t was provided that any bond, the
| interest of which might be protested for
non-payment by the county, should be filed
| with the State Auditor, whose duty it be-
| came in the premises to see that the amount
| due, with all coats, be extended in the tax
lists of that county, to De collected in the
| same manner as other taxes, and returneU
to the Auditor, who in turn satisfied the
| holder OF the bond. BY this means all the
trouble experienced in the issuance of
| county bonds in other States was Obviated.
In the first place, being issued by author
| ity of two-thlrds of the votes there was no
chance tor tie local politicians to make the
| subject OF their reputation matter OF ma.
nipuiation at all. In the second place, be-.
| ing thus guarded, they were readily dis.
posed of at very nearly their par value.
This portion Of the general railroad incor.
poratiOn law, thus Introduced, has been
found to work most successfully, and to the
satisfaction of all interested.
By its aid counties have been able to Sc.
cure more local roads for their own accom-
mediation than could have been built by any
other plNcess in 10 az course of years.
Some 10 years since the main features of
the law, as here presented, were introduced
into Arkansas. As an almost immediate eff
feet we see some six hundred miles OF rail-
road in process of construction in that State,
and it is said that as much more will be IN.
der way during the coming summer.
1t may be said that this is due to the aid
granted by the State. To be sure, this has
been great inducement, but it is claimed
tn at far more is due to the provisions of the
general railroad Incorporation law, 4 proof
of which is seen in the fact that some of the
most expensive roads in the State, which
are now being constructed, have no allOt.
ment of State aid at all. but rely on county
aid and donations OF lands as provided for in
this bill.
The States of Ohio, Illinois, Iowa and Mis-.
souri,, too, grant no State aid, but tender
instead the chief provisions of this bill.
l have thus briefly sketched the rise,
progress, and effect Of the general railroad
incorporation laws of the West.
l will add that the late Constitutional Con.
ventiOn of Tennessee, provides for the en-
actment of such law as necessity Of the
age and State.
The law here presented contains within
Itself all the important features contained
in the laws of all the States / have men,
tioneds framed in aid of railroad construc-
ton. 1t also contains al of the law which
has been found necessary In the governing
and restraining of railroad companies.
The features in the main, as taken from
the laws of other States, are word for word
as there found and have heretofore proved
themselves by many years of severe trial.
most perfect railroad law to be found in the
United States.
Since its original presentation but one
alteration or amendment has been made.
This is in the shape of a proviso inserted in
the latter part of section twenty-five, which
reads as follows: s'And provided further,
That no distinction or discrimination in &C.
cOmmOdation shall be made among passen-
gers paying the same rate of fare"
ha hnr will f,yl1S
understand the import of this.
The bill, we claim, meet all the require
ments of those desiring special railroad
charters. They can not ask anything more
liberal than is contained in its provisions.
1t meets, rs we'll, all the requirements of
the State. 1t will Immediately rid the Leg.
islature of all railroad lobbyists, and leave
its members free and untrammeled. 1t will
also relieve them of all imputations of hay
ing been bought for this or that scheme.
More than all this, know that this bill,
as here presented, has been submitted to
and approved by some of our largest rail.
road CAPITALISTS, in Philadelphia and New
York. They say, if the field be open, they
are ready to invest their capital in our rail-
roads, but without such law there is no
inducement in Mississippi.
In addition to all this, it is claimed that
no possible objection can be urged against
the bill. 1t has been thoroughly tested and
tried in every respect.
1t is therefore no experiment, but Ger.
tain reality. It relieves Us at once of all
future trouble in relation to railroad char.
tiers; relieves US of lobbyists, and of ALI cor.
rupting influences, and places our railroad
laws in unison with those of the most en-.
terprising of the Northern and Western
Bates.
With the development of the vast re-
sources OF Mississippi, no man can fully |
estimate what her future may be. The |
progress OF railroads in this country during |
the last twenty years has surpassed the |
widest dreams of the railroad fanatic. In
1850 there were only eight thousand five |
hundred and fifty-eight miles of railroad in |
the United States, costing two hundred and |
nlnety-six million, two hundred and sixty |
thousand, one hundred and twenty. eight |
dollars.
In 1860 we had thirty thousand five hun
dred and ninety.eight miles of railroad,
costing one billion one hundred and thirty. |
four million four hundred and fifty-two |
thousand nine hundred and nine dollars /
Isl, l34 452 ,909). Before the close of the |
year 1870 estimating from well known facts
and established rules), there will be in the
nlted States forty.two thousand miles of
railroad, costing the vast sum of two bill |
lions of dollars $4,000, GOO 00O).
Railroad capitalists all around us have an
eye upon Mississippi. The Central and
of Georgia. and the Bruins
Wick and Albany, now in progress, will be
The most direct between the Vicksburg and
the Atlantic.
When the Southern Pacific Railroad shall |
nave been completed (as we hope and be
lleve 1t will, be, on the thirty secopd.par.
ailel), then, If not before, we will fully ap-