The Newberry herald. [volume] (Newberry, S.C.) 1865-1884, 1871-03-08
The G. &C Railroad Bill.

hnOWn, or rated as the big SWludle,
failed to pass the Senate. In lieu there.
Of, o substitute quite as obnoxious to
many Of the State press has been offered.
We offer this week no comments of our
own upon this important matter, not
havieg yet seen either bill. The measure
IS not ye, law, as the Governor has not
acted upon it. Should he see fit TO veto
the bill, it will require a two-third's vote
to pass.
We should be. most happy indeed to
record a piece Of virtuous legislation
fostering so great an enterprise. # the
consolidation Of t.. roads look to gene
e,as internal improvement By making
Charleston the grand outlet for the
treasures % the West, sni Columbia a
great radiating centre, from which the
State at large must be benefited, the
two millions will be wisely spent States
that are liberal 10 railroads have prosper
ed. But is the Legislature honest in this
lnatterG Is it or pot, fraud upon the
tax payers, this heavy grant Of the State?
A bill has been passed which repeais the
act giving aid to the Blue Ridge Road;
this defeats that enterprise. So that if
the G. & C. R. +. is extended to Ashc.
Vile great public work will have been
accomplished.
We hope this bill is not iniquitous."
Although it is damaging to know that
Joseph has finger 10 the pie, to say
nothing Of the little" scene in the judi
ciary committee room. Below we give
a few of the opinions Of the press. ThrRe-
publican says the substitute consolidatcs
the Greenville and Blue Ridge roads, and
provides that the State shall waive its
first lien in favor Of the mortgage, free
the guaranteed bonds Of the Blue Ridge
r. r, and accept second lien; and
that the substitute Is like unto the first
bill-iniqui,ous.
Tie Charleston News says, failing to
pass the two million swindle, the ring ex
pect to accomplish their object in anoth-
er way, and that this appears to be a
bigger job than the ether.
The consolidation Of the roads, cou-
pied with a REIMBURSEMENT Of the State
lien, would give the consolidated compa-
ny four million Of guaranteed bonds. free
of all restrictions AS to time ard price Of
sale, and would deprive the State of that
mortgage which is its sole security for
the bonds guaranteed for the Blue Ridge
Company. This is our understanding Of
the new bill. Its last state is worse than
the first"
The Phoenix has seen the substitute
pass the S.nate with satisfaction, and
says 'it is bill to PROMOTE the conso!ida
ton Of the roads. 1t places both compa
nieS in a position to unite their interests
jud ciouSly, to effect what every man in
The State desires, the repair Of the Green
vile Road, so as to make it first rate
ro,d. and the completion Of the Blue
Ridge, so as to make the whole q great
t urk road.
The REIMBURSEMENT Of the State lien
is rather nominal thnn real. for the best
security Of the State is the mortgage
which extends to the whole property of
/! road.
/ he removal Of the Limitation upon
tie sac Of the bonds is only common
scn>:- or NOBODY ever heard Of bond
to bui d railroad selling at par.
We Confess VIC have been very anxious
concerning the recently proposed rail
road legislation, for i, seemed tn us wild,
and vel! calculated to arouse the just in
dignation of every tax payer in the State
This relieves our apprehension"