The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-04-20


dollars, and we have already shown in the
HERALD, from statistics compiled by the most
experienced railroad men and engineers in the
city, that the receipts, calculated at low
figure, would pay interest of seven per cent ON
that amount of city bonds, meet all the run
ming expenses and ordinary repairs of the road.
and leave surplus of over one million dollars
year to form sinking fund for the redemp-
ton Of the debt The same result can be
established by figures in regard to the North
River viaduct; hence these two great arteries
of travel could be constructed by the CITY
without the cost of single dollar to the tax
payer. At the same time they would improve
the whole river line property through which
they would pass, and would speedily double
the assessable value of the real estate of the
city and lower the rate of taxation on all
property These are plain, undeniable facts,
and they should be of themselves sufficient to
insure the building of the roads, without the
additional consideration Of the advantages to
be derived by the whole people in
health, morality, comfort and economy. But
when we reflect further on the wonderful
future in store for the city of New York;
when we remember that the removal of the
distractions at He'll Gate will soon open the
East River to commerce, which will spread all
along it's shore, from Harlem bridge to the
Battery, working revolution in the business
face of the whole city that the comprehen-
sive plans of the present Dock Commissioners,
if faithfully carried out under the new regime,
will speedily give us magnificent broad streets
along both the rivers, with piers and docks
such as can be found in no other city in the
world, we are astounded at the narrow-minded
stupidity or the reckless venality that can with
hold this great public blessing from the people
of the metropolis.
In another column will be found report of
yesterdays Legislative proceedings in Albany.
Touching the subject before us, we call atten-
ton to the bill proposed by Mr.. Moulton, ad-
vocating what has all along been advocated by
the HERALD-the appointment by the Gov.
ernor and the Mayor of commission with
full powers to construct and operate such rail-
ways as will meet the requirements of rapid
transit, at the expense and for the common
casion the discussion of the details of Mr..
Moulton's bill For the present we only make
an appeal to the Legislature to take it into Sc
rious consideration, and to pass law before
the final adjournment authorizing the appoint
ment of such o commission for the sole pur-
pose Of devising and carrying out generous
scheme of rapid transit. Mr.. Moulton's pro-
posed measure meets also the objection as to
the expediency Of allowing the city to become
the builder and manager Of railways by provid-
ing that clause should be inserted in the law
requiring the consent of majority of the
voters of New York city to be cast in its favor
before it becomes operative. No honest objec-
ton can be made to q bill so framed The
roads are to be built for the benefit Of the
people, and if built by themselves they will
have the advantage of the profits in cheap
fares instead of being compelled to pay heavy
rates to put money into the pockets of stock
holders. AT oil events we call upon the Legis-
lature to let the people decide for themselves
whether they are willing to loan the city's
credit to construct the viaduct roads. We are
aware that there is no money for the members
in the law we call upon them to pass but they
will at least derive the advantage of finding
one honest, disinterested act recorded in their
favor when the history of the session is told.
They have rushed forward enthusiastically to
the aid of Commodore Vanderbilt now will
they show at least some portion of this energy
in the cause of the people?