New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1872-01-12
lack SHEPPARD ON RAILRO1 DS.

The Erie Railroad was projected, located,
constructed, with primary regard to tho con-
yenience and advantage Of the section of our
State which it traverses. That section had
previously been secluded difficult Of access,
thinly settled, and only able to market its
produce at heavy cost. 1t had suffered
rather than proGted by the Erie Canal, which
had attracted population, business, enterprise,
to the central counties of our State. To re-
dress the inequality and develop the "South-
"ern Tier" it was deemed essential to con-
struct great trunk railroad from our City to
Dunkirk; and this was, through heavy sacri-
fees, effected. The State at first loaned, but
afterward gave, S30OO,0OO in aid of the pro-
ject; while our City was traversed by COM
mittee after committee, cxtorting stock sub
scriptions from reluctant merchants and capt.
talists Finally, Europe was appealed to, and
large sums drawn thence, through the sale of
stock and bonds, mainly in London, to push
the great work to completion.
The people of the Southern Tier were more
than welcome to all the stock and bonds
had they chosen to take them but they took pre-
ciOus little of either. Though they are this day
at least S10O,0C0,000 richer because of the Erie
Road, they never contributed $10,000000 to-
ward its construction. Had they given half
their lands TO this end, the residue would have
been worth more than the whole without 1T.
They chose, instead of giving their lands, to
double and often treble their price. Middle
town, Port Jervis Waverly, Corning, Hornells-
vile, Dunkirk, and many more such, are results
of the Erie Road; Binghamton and Elmira,
which it found meager villages, it has made
stately cities. And their growth has evidently
but fairly begun.
Meantime, the unfortunate stockholders have
lost most of what the vicinage has made.
After going without dividends for much the
larger part of twenty years. their stock Is
worth thirty TO forty cents on the dollar. Ii
all the foreign stockholders could get back
one-thrd of what Including interesD their in
vestment has cost them, they would doubtless
deem themselves remarkably fortunate. Most
certainly, ace should. Would it be believed, is
it conceivable, that persons living along the
line of the Eric Road sharing the benefits but
declining the burdens resulting from its con-
structiOn, are petiioning the Legislature not
to allow the owners of that great property to
control it7 And whyf Because they are Git
is aleged) foreigners!
What law did they violate, except the law
of self-preservation, in becoming Erie stock
holders What law now forbids them con-
trolling their own property Nay, we need
not ask, since they say there is none by ask
ing the Legislature to enact one. Surely, the
wreckers of Barnegat, of Abaco, of the Florida
Keys are too modest. Detesting lighthouses
MS interfering with their business and profits,
they have never yet formally demonstrated
against their construction.
1t is possible that some honest man has
signed one of These infamous
petitions. If so, we entreat him to withdraw
his name at once Even though knave enough,
ho should not be fool enough thus to blazon
his viilainy.