Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1871-12-07
State Aid.

The PASSPORT >eHfiaeI has fair article
GA state ALL Ia Railroads" 1t opposes
II hccausc it will be a new departure for
the STATE It says:
II viii be urged IN favor OF State aid OF
the Kind proposed that the State will as
sumo W. ii-k that fte principal and inter-
80 will ultimately be paid from the earn
iu.- III the roads. anl even if the roads
,boull fsil Ia do this. the State could fore
close H., claim. and thai the proceeds OF
~tlr would mlly meet all Che obligations
the state had assumed. Bat this is far
frpm certain Road, may be built by State
ALL that " ~ not earn enough to pay their
uuuiAG expenses. ani such road IL sold
~ iuyttoa would realize but a SMALL sum Of
money.
rh- question 10 be considered j. NOT
whether amy proposed railroad Is needed
ana Nil' pas. but !, It cNpedient that the
STATE shah enter upon the policy of loan
iur if- crrdi, ami taking the risks Of such
enterprises Once begun. will it not BE-
W"'l n' an impossible 70 change The policy:
Mas uuf th- Interests ui proposed railroads
unite lui form combinations 81 powerful
4. 'p control the lcgi-laturet WIN not
-.trh 4 policy tend - weaken the crcdt of
,ut state. We HnH know precisely "a"
t.uoits the state owes II tn" policy Of
..lu.H. tnr credit af ;Ar state h. adopted
A, -hAU III mturr D" only able ~ know
thr amount 81 if> liabilities II actual
indebtedness ~ could newer SNOW.
D NoIll nos De = ,crou, responsibility
inr .hm State to guarantee the bond> ~ one
railroad 20 the amour; Il our ar two hun
irrl thousand dollars. but can Il stop with
44IIu.. nut road hen it, liabilities. one
Att,.y tAo p'her, inr railroads should amount
", millions " ipllar, might there not Ply"
,lH-" tor alarm.
IG- 4. Putting 'ht issue ia 4 form ,hat
au, ".,e ctu understand It. w have npt
committed nur--lf. fnr % against The
scheme and shall mot until some further
,I,,.I.turut. are made. There may BE-
d"y i-ri some way that Will obviate all the
IilIeul,sv- suggr.tri ~ the S~atiHsl; and
II -n. th-u wr certainly shall favor y, but
a. 10" Question presents itself o-day, all
mAt N4It patiently tu sce Ia what manner
tn, ~ rtordinary attack J. Ia be made on
TIT Legislature 81 Maine. We also claim
tha, individuals aud journals should have
thc privilege Of entertaining opinions, for
or against the policy, aud should not bc
Obliged IL make them known. because
Should BE- classified at once and labelled -
We r,r-" SHAT ~ have ~ say to-day hy
Publishing an extract from the last nr~-
-t,,.ut nuro ~ Maiu"'- ahleSt and most far
-"tlu. ,'hirt INA -i.tratr, I'm
The Railroad enterprises Ia the State are
uoN pushing on with yi-,or, but still under
I ii-ais sntag~ have before vcnturcd the
4 opinion that the burdens which the towns
were taAin.. upon themselves % secure thu
Y building Of railroads ight BE- found too
4 much Tor them. Consider too that while
I these loan. drain sn heavily upon home
/ capt. H. the bonI> are then sold II 4 ruin
| ous sacrifice. When town pledge NIL IT.
| available means. and then j. discounted BY
| 10 per cent, II seems to me not an advan-
I tageouS way 10 carry on public enter
T prise Pardon me II weary YOU with re-
lycating that Il would seem better that the
( state should give her endorsement Ia such
{ enterprises a. she deems vital to her al
I yauccncnt, providing BY ample restrictions
+ against the abuse of the concession aud
securing hrrscly by lien or mortg age
against the actual pay m.nt Of dollar on
. either interest or principal. There i no
& railroad In TIL. State which would not pay
we'll upon $4,000 mile suppose the
~tat.. should endorse the bonds OF a road
~ that rxicnt. taking proper security Tor
tAr payment of both interest and principal
from lhv earnings 81 the road. The result
would b.. | think thai the bonds would BE-
. negotiated At par or nearly 80, and outside
'hv state. which j. the same thing AZ bring
la. capital ia. Home capital would be len
( ipC Investment Ill active enterprises. In
stead IL adding burden 10 the people Il
q. ouli actually relieve them. In my upn-
Ion this would be safer less expensive, and