The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1871-01-23
vENIN0 PHILADELPHIA MONDAY 23 1871

of success. But combined they represent so
many sinister interests that there is no tell |
ing what power they may not acquire before
the session ends. The promoters of subsidy
schemes involving money and not land
will, however, make the first attack. They
are organized and not over scrupulous, and
all the virtue of Congress will be needed to
protect the National Treasury from their
assaults.
OF steamship enterprises there is formid-
able list and the opening trial of strength
in their behalf will come off this week.
They are eight in number, and take in nearly
all parts of the world. The Sandwich
Islands service is the most modest of the
group, contenting itself with request for
$75,O annually; the American and Euro
pesn and the American Nail and Ocean
Steam Transportation Company are the most
rapacious, the money they ask for amount
ing yearly to $1,2OO,Oo0 for each. The
aggregate of the subsidies covered by
the eight projects exceed four and
half millions yearly-a heavy
demand in prosperous times, and a very seri-
Gus one in times like these. The utmost
that can be said in support of the principle
! is, that it is debatable as a method of foster
| ing steam marine. But there are two sides
to the question, and one of them is strength
ened by the popular demand for reduction of
taxation, to which every fresh subsidy is
| be apprehended is the formation of q ring,
with popular lobby to help 1.-THE asso-
ciated influences boding no good to the Trea-
sury or the taxpayers
The gigantic scheme of the day is that of
! which the economical Mr.. Hamlin has made
himself the sponsor. For the purpose of
| cheapening the cost of transportation from
the West to the sea. board, a railroad is pro-
! jected from Portland to Chicago; and to faci-
itc ha tor0 for
Government loan of fifty thousand dollars per
! mile for the whole extent of the road. AS
! the distance cannot be less than thousand
miles, we have here drain upon the national
credit amounting to fifty millions of dollars.
Mr.. Hamlin is not addicted to practical jokes
in the Senate Chamber, and we must there
fore conclude that he introduces this monster
scheme in sober earnestness. We adduce it
as illustrative of the tendency to press extra
VACANT demands upon the Government, with
| an ineXcusable Indifference to the effect upon
it's credit and the business interests of the
country.
Compared with an undertaking of this
magnitude, the never ending Sutro Tunnel
seems a model of disinterestedness. 1t
comes, this time, neatly wrapped in a bill
''to create fund to be known as the mine
raj land fund, and for other purposes"
and Mr.. Nye exerts his ingenuity in finding
| pretexts for its passage. We think he will
not succeed. A loan of three millions to the
Sutro Tunnel Company is a bagatelle by the
side of Mr.. Hamlin's fifty millions; but it is
three millions too much for the furtherance
of private interests, which should be quite
capable of caring for themselves. Expatate as
Mr.. Nye may upon the scientific value of the
tunnel, the fact remains that the Sutro Com
pany is no more entitled to public aid than
scores of other corporations, and that its
legitimate reliance should be upon the Ne
vada mining companies, whose hidden riches,
we are told, surpass description. Properties
which, according to Mr.. Nye, have yielded
more silver than all Mexico, and are yet but
at the gateway of their treasures should
surely not be afraid of three million ex-
penditure, which is alleged to be essential to
their development. At any rate the country
is under nc, obligation to redeem from loss
mismanaged ventures on the Comstock Lode,
or to swell the dividends of those that have
been more fortunate.
If we are ever to bring back the days of
hard money and light taxation, it is plain that
Congress must resist attempts to fasten upon
the Treasury plans involving the expenditure
of its money, or an application of its credit;
for the furtherance of corporate enterprises.
We advise Senators and members to remem-
Der that the strain upon the nations credit is
severe enough already, and that there can be
no restoration of confidence until the subsi-
dizing system is firmly and consistently dis
couraged.
WATCHES, JEWELRV. ETC.