The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1872-03-02
The City and tho Road.

ton that the c0nLr0l OF tne ooutu Ooioiin"
Railroad should not pass away from thepeo-
ple of the State. We have shown that the
danger of losing that control can only De
ayerted by causing a majority OF the STOCK
to be 80 held that it cannot be bought up IN
large amounts, by aty Railroad Ring or
speculative clique. And we have submitted
the reasons which lead us to the conclusion
that the corporation Of Charleston can give
the city the needful safeguard and security,
more surely and expeditiously than it can be
/ given by individual citizens.
The City Government is the representative
of the citizens in matters which affect them
as community. There would be no seeur-
ity in Charleston if it were left to groups OF
citizens to organize their own police. Would
the streets be kept clean il every citizen
we're required to act as his own scavenger,
and no penalty nearer than possible epi-
demic punished his neglect? The income OF
the city is spent for the benefit OF all the
citizens, but what would the revenue OF the
city be II every citizen were allowed to decide
for himself how much he should pay into
the treasury? We do not assert that the
regulation OF railroad and the regulation
OF Board of Health, and Fire Department
stand upon precisely the same footing; but
it is clear to us that, in any question which
concerns the whole city and every person IN
It, corporate action, which Is united action,
must be preferred. Assuming that it be ex-
pedient to expend a sum of money for the
advantage OF all the citizens, the city can
cause the burden to be divided amongst the
citizens according to their means, while II
the procuring OF the money be left to indl-
viduals, it will, il obtained In sufficient
amount, press with unequal weight upon dif-
ferent persons. The city can assess tax to
meet the interest upon money which 1t may
borrow, but where the funds for public
object are collected from individuals, many
must contribute more than their share to
compensate for the calculating delinquency
Of those who furnish little or nothing. We
feel, therefore, that, if it be necessary that
| several thousaud auQlCl0naI shares OF South
Carolina Railroad stock shall be held irremo-
yably in Charleston, those shares can better,
and more justly, be obtained by the city In
its corporate capacity than by isolated sub
scription.
That it is held to be within the province OF
the CITY Government to subscribe to the
capital stock OF railroad companies is shown
by the investments OF Charleston In the
Memphis and Charleston, Nashville and
Chattanooga, and Blue Ridge Railroads
The subscription to the last named road may
be wholly lost unless the Railroad Committee
and the City Attorney take proceedings at
once, under the resolution adopted by Coun-
Gil, for the protection OF the municipal in
terests. From the other investments Of The
city, no return, in the shape Of additional
business with the West, has been obtained.
But the fault lies with the nature OF the in
vestment, not with the principle which dicta'
ted it. There Is all the difference In the
world between putting money into concern
at Nashville, or Memphis, or even at Ander-
son, and putting money into road which
has it's terminus 10 the city, and upon which
We depend for our commercial health and
vlgor. The practical business sense which
would condemn the one investment would
unhesitatingly approve OF the other.
Charleston, We know, is poor, and has
q heavy debt An increase of debt is equiv
alent to an increase OF taxation, and We are
taxed already heavily enough. 1t may,
however, be wise for the city to ponder
whether it Is not better to enlarge taxation
IN order to avoid far heavier losses in
another form. Take away from Charleston
her main railroad, and the most valuable
real estate in the city will soon become
worthless. AS the aggregate value OF the
real and personal property decreases, the
rate Of taxation must be advanced. This
| is what we have to look forward to, II we
allow the South Carolina Railroad to slip
through our fingers for fear OF encountering
an additional charge OF forty or fifty thou
sand dollars year. We hope, however,
that an increase Of debt and taxation may
be avoided; although we are emphatically Of
opinion that it would be cheaper to add a
million to the city debt than to hazard the
loss OF many millions by permitting the
South Carolina Railroad to be worked ad-
versely to the city. Charleston has valuable
assets which might be made use Of in the
present emergency. A transfer OF security
would not ipjure persons who may have
claims upon the railroad stocks owned by
the city. And it cannot be denied
that five or ten thousand shares OF South
Carolina Railroad stock would be infinitely
more advantageous to Charleston than a
like number OF shares in railroad company
in the West. The South Carolina Railroad
stock would offer equal prospects Of benefit
as bare Investment, and it would, in ad-
ditior, make the commercial position OF
Charleston absolutely impregnable.
These subjects demand the serious consid-
Grafton Of the City Council. In that body
we have representatives Of every class and
interest. We say to them that this matter
Of the South Carolina Railroad is as