The Lincoln County herald., 1872-01-25
THE HER AID.
TROY, MO-, JANUARY a5, 1872.
The Proposed Railroad Bin.

'"6N'osNo cu''u6s su"s VIII uou oSe"
for the consideration Of that
body authorizing the issuing Of twenty
millions worth Of bonds to aid 10 the con
struction Of all railrosds nov projected
or that may hereafter be constructed.
When these roads will have surveyed,
located, graded, irousd aud put the roll
ing stock upon the same, for every ten
miles 20 completed the state 10 to pay
them $500 per mile, and in cons,dsra-
tion thereof is to receive two per cent. Of
the annual gross earnings Of the roads.
The state to hold 6rst lien on the roads
for the prompt payment Of the two per
cent, and in case Of their failure to pay,
the Governor to ssizs the roads aud their
rolling stock and soil them publicly at
Jefferson City the state to have the
right TO- regulate the rates Of passage and
freight, sad to tax them as may BE- regu
lated BY law. II also proposes to pro
hibit courts from subscribing to any road,
in, any county 10 the state. that except
this aid, unless authorized so to do by
two.tbirds majority Of the voters Of such
county. The bonds may be paid of any
time before maturity when there is sufh.
oisnt funds in the treasury to do so.
Twenty millions Of dollars is an enor.
nous sum to add to our already heavy
state debt, to be met by the hardworkipg
tax. payers. tssides the Sl,200,000 that
would be required annually to pay up the
interest. It is claimed by writer in the
Jefferson City Tribune, that the construc
tioo of the roads this measure is Intended
to aid, creates s75, 900, 900 worth Of actual
value in roads aud stock we otherwise
would not have, or at least for many gears
to come. This creation Of $4,000 ,00U
of property, subject to taxation by the
state, would be just s55, 100000 more
than the amount appropriated BY the
state as oid The increase annually Of
the wealth of the state, is now S per cent
which her development BY the aid Of
these roads being constructed, would for
sfteen years, increase at the rate Of 10
per cent. per aunum this in ten years
would make our assessed wealth 81, 500,
100000 instead Of $500, 900, the
present value. This, it will be readily
seen, would require considerably less than
one mill on the dollars valuation to pay
the interest. Let US take the increase d
wealth, being the snug little sum Of
5000, 100000 and levying the same tai
that We now do for interest and revenue
aud We would have 81, 500, 900, which
would be realized by the present basis o.
one per cent. This sum in five year.
would much more than pay the debt, auc
in ten, debt, interest and q large surplu'
would be realized"
The specuIations Of this writer may b.
corrective are not prepared to den!
them but at best they are but specula
tions, and like all others may or may no
result favorabiy to the state. The ques
tions to be considered are, Would it b
Of material advantage to the state to hole
such possession of the roads ? and "Ar
We, in our present tax-burdened coudi
ton, and with large state debt alread..
hanging over us, able to enter into sue
huge speculation ? We are almos
sure a majority Of the tax payers Of tn
state would say. Nay. Besides, when
ever the state has heretofore taken stoc
in or granted aid to railroads, it has b
some means been swindled, aud W. fsa
tho proposed bill would only insure
repetition.
A. these matters are moro fully under
stood by the representatives Of the poopl
than by US, We feel safe 10 leaving tb
matter with them, confident that the
will consider the measure we'll in all i,
bearings, and act for the good of tn
people at large, and not for and at th
dictation of any influential organized me
nopoly. As to the Representative of th
county, Col. T. q. HUT, we are sure b
will weigh the subject we'll and study il
parts thoroughly before he decides for {
against it, and whatever his action ma
be 10 the premises, we know it will |
governed.by 90 honest conviction that
is to the interest Of his constituents.
One of the retrencbmeut committ'
now in New York, in a letter to sen.
tor in Washington, says that the time
adjournment has not been determine