The Columbia herald. [volume] (Columbia, Tenn.) 1850-1873, 1872-09-27
D. n. ". RAILROAD.
Letter from Mai. FaIconnet.

A call issued by one of the most res
pec.ed members of the board of commits
sioners for meeting of the persons who
have subscribed stock in the. future rail-
road company, to be held on the 18th OF
September next, induces the under>
signed to publish the following state
rent, which may be of some interest TO
The friends of the enterprise:
Since the undersigned first originated
the Duck River Valley Railroad, after
having advocated narrow gauge rail
roads in Tennessee since 1868, many
changes have taken place inl the public
mind. What then appeared to he
almost a hopeless task, the raising OF
means to build the road seems now to
be q comparatively easier one, on ac-
count of the change in public sentiment.
The advantages of the narrow gauge
system, so often repeated in public prints
and by able public speakers, are at last
now only accepted as positive facts, but
even advocated by the. majority OF the
people, and seems to be now almost an
unanimous opinion entertained, that II
ne need any more rallroadS-ahu thls
necessity is doubted but by very lew
that such future railroads must be mar
rOT gauge ones.
The interest felt i'm this enterprise
seems to be growing daily along the
whole line of this projected railroad,
thanks to the efforts of public speakers,
who present the established advantages
of lailroads.and of this particular sys-
tenn TO the people in q most forcible
manner.
The enterprise was started in accor-
dance with law, by the appointment OF
commissioners by, the proper authority,
which commissioners organized them
selves into permanent board, and app
pointed an executive committee, with
full powers, to take charge OF their
business, because 1t was impossible TO
get a quorum of the whole board to-
gether as often as necessary. Inc COM
mittee is composed of one member from
each county, and the undersigned was
added as chairman.
The original plan was, as published
in a phamplet q year ago, to build
narrow gauge road from Johnsonville,
via Columbia, to Tullahoma, with the
expectation of final extension to the
coal of the Cumberland Mountain. The
leading idea then was the dev elopment
ofthe central basin of Tennessee by
railroad running through the main val
lev of the same, and the development OF
manufacturing interests, by connecting
the coal aud the iron ore. This original
plan modified and improved by the
course of events, by the increasing heid
of operations, by the hopes OF through
business from st. Louis to Atlanta and
connection between Memphis and
Cincinnati, and by the increasing,
spreading interest felt in the enterprise
in different parts of the country. has
now reached the proportions OF a
thorough, comprehensive system OF mar
uo,p 1dH1e yo0dS,
A net. work of internal channels of
communication all over the land, with
a trunk and many branches, concentrat-
inc ALI the several local interests into
oge o~and scheme for the development
of Tennessee, and insuring thereby In
crease of operations, and a certainty OF
mod financial resutts, which cannot be
obtained, if the enterprise is to be locked
mn and restricted into small, narrow
local bounds. Assuming, that the re-
onired sum of one thousand dollars per
mile is subscribed tor only portion OF
the road. and impatience demands
chsrter and GETS q charter, how is the
road to be built?
Is it to be built by an increase OF local
subscriptions? II so, how long VIII IL
take to collect che same?
Experience teaches that but few, very
few, railroads are built by private SUD
scription of stock. County stock cam
not be obtained now, and railroads In
our times are built upon one hall mort
gage securities.
Capital to be obtained ABROAD for the
! realization of any railroad scheme Win
! us, in these times, by the sale of securi-
| ties, will hardly be invested in the bonds
OF a company, operating only short,
/ unimportant road, but will be invested
ia all cases, when the road will conn