The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-03-26

dollars expense to the taxpay ers, anu Woulu
pay for itself 10 few years.
Annual income as previously estimated. 81, 72o 900
Interest on thirty million dollars
city bonds at seven per cent. 81 100, 600
Operating expenses. 100000
Leaving for sinking fund per annum. 81, $50 900
The calculation is made upon seven per cent
bonds, but at six per cent the securities would
sell little above par. The road would thus
be paid for in less than twenty five years. The
estimated results are, however, predicated on
traffic equal to less than one-half the capa-
city of the proposed east side road, because
ct least twelve thousand persons per hour
would DO safely carried in each direction, for
the entire length Of the road, or twenty -four
thousand fares per hour; and, as many would
travel but part of the distance, the fares taken
would be increased over the capacity for
through travel.
We invite criticism of these estimates,
which, We know, are literally made and are
none too favorable to the viaduct roads. The
cost Of road on the west side of the city,
along the line of the North River to Spuyten
Duyvil Greek, would be mainly the same as
on the east side, and the calculations for one
would be found to apply to both projects. But
the main expense is, of course, the purchase
Of the right of way, and, If deemed desirable
to delay the construction of the roads until
the completion Of the new streets designed by
the Dock Commission along the two rivers
they could be built on the line Of those streets
by the city without this heavy outlay. As
the work would, however, pay for itself, with
out any burden on the taxpayers; as the
two roads could be completed, say in three
years, and as the progress Of the city and the
comfort, convenience health and morals Of
the people demand that rapid transit shall be
given to them as speedily as possible, there
Is no reason why the city should not be
authorized to construct both viaduct railways
at once. and to pay for them by the issue of
city railroad bonds, at six or seven per cent
interest. There is no reason, that is to say,
apart from the corrupt and selfish
intriguss Of the Albany lobby and the
greed Of Senators and Assembynen,
wSo are striving to make few dollars for
themselves out Of the city's franchises. No
man Of intelligence and honesty can advocate
. Broadway underground scheme as prefer
able to such roads as we propose. It is i'm
possible to calculate the cost of tunnel.
After sinking thirty million dollars in such a
work engineering difficulties may be dis
covered requiring more than double that
amount to remove. No sensible capitalist
would risk his money In such blind and dan
gerous project A Broadway tunnel road
could not be constructed at all without
upheaving the main channel of the business
of the city for years, and dsarranging all the
network of sewers, gas and water pipes, &C.,
to the serious suffering and injury of the peo-
pie. The work would necessarily be slow
even without calculating on those distractions
certain to be encountered. The most compe-
tent engineers in the city agree that the exca-
walton of Broadway, particularly In some por-
tions of the street where the soil is loose and
sandy, would utterly destroy a number
Of buildings and would render hundreds
Of others insecure. In the crowded
part of London the Metropolitan
Underground road passes along the New road,
an avenue for the most part probably three
uuuUT0u L0cL lCOm Uuiuuk W Uuiuihk, suO
houses mainly standing back from the side
walk, with gardens before them; and yet,
even in that locality, great damage was done
to the buildings and heavy costs were incur
red in consequence by the company. These
facts would suffice to convince any body OF
intelligent and honest legislators Of the folly
of sanctioning a tunnel under Broadway, and
of the propriety of passing a law authorizing
the construction Of the East River and North
River viaduct railways by the city Of New
York. But the reform legislators Of 1872
seem more bent upon pocketing few cor
rupt dollars than upon legislating for the pub
lie good, and hence they will probably pass
the most remunerative jobs they can find In
the shape Of New York city railroads, unless,
indeed, they should quarrel over the division
Of the spoils, in which event the people of the
metropolis will be saved from plumber,
although they may be deprived for another
year of the rapid transit they SO much desire.
Personal Intelligence.
$1,000 --~~~>~~~-~-~-