The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-03-28


tho City s-Let the People Decide.
The Senate Railroad Committee yesterday
made an adverse report on the numerous rail-
road schemes which have accumulated
for the consideration of the legislators
in Albany. Among the rapid transit
bills thus tabled, for the present season at
least. are the New York City Depressed Rail-
road bill, the bill to incorporate the Manhat-
tan Underground Railroad Company the bill
to incorporate the Bartlett Railroad Company,
the proposition Of the Committee of
Ninety to appoint commissioners to build
Q railroad In New York, and ad-
verse to the incorporation of the Under
ground Railroad Company. The committee
could scarcely have adopted wiser course,
and their action In this matter will doubtless
receive the fullest appreciation of the people.
No sooner was the subject of rapid transit
publicly discussed than dozen ill-conceived,
wildly speculative plans were thrust into the
Legislature, and the lobby filed with their
orignators. who were willing to ''put them
through" at q certain cost to themselves but
much greater expense to the public. Rapid
transit is absolutely necessary to the city of
New York for the accommodation of
its million citizens and to afford ia
cilities to the constantly increasing
trade centred here. but we could not afford to
adopt the mushroom schemes of party specu-
lators. Merchants and tradesmen living at
one end of the island and doing business at
the other must soon have the means
of reaching either their homes or Offices
within a reasonable time, facilities that are
granted to every city Of any pretension in the
Old World; but they ought not to be asked to
pay the millions stipulated in these bills for
the accommodation.
The closest calculations of experts have
established beyond question the fact that
two viaduct railways, running through the
length of Manhattan Island along the lines Of
the two rivers, could be constructed without
difficulty or delay at cost that would insure
the payment of seven per cent interest on the
city bonds issued for that purpose and their
redemption in less than twenty-five years,
without calling upon the taxpayers for the
outlay Of single dollar. These calculations
are based upon estimates literally made as to
the required expenditure, and far within the
probable limits as to the income to be derived
from the roads. The cost Of the East River
road to Harlem br idge is set down as within
thirty million dollars, which sum would pay
for all real estate required for the right of
way and for other purposes, fully equip the
four-track road and place it in running order
for public use to capacity for the transporta-
ton of one hundred and twenty thousand per-
sons daily. The income Of this road for the
first year is cautiously estimated, on
basis of ten cents average fare,- at
four million three hundred and twenty
thousand dollars, which sum, with only
four hundred thousand dollars added for
rental of super1uous property, would pay
seven per cent on the total cost of construc-
ton and equipment, all the running expenses
and maintenance of the road, and leave a
balance of over million dollars annually to
form sinking fund for the redemption of the
debt.
As we have before shown, the estimate Of
rental received for unused property, stabling,
storage room, cellarage, &C., would certainly
reach eight hundred thousand dollars on
line of seven miles running through populous
neighborhood. The express and freight bust
ness would, we believe, reach at once one
million dollars, and in this estimate we are
below the calculations of experienced men in
the business. Besides all this, the estimates
made are based on the first years business,
and this it is well known would be increased
steadily and rapidly year after year as the
people became accustomed to the use of the
road, and as the now fugitive population was
brought back into the city and settled
in the upper parts of the island
In the hands of the city the railroads would
be run in the interests Of the people, and
hence these increased receipts, instead of
going into the pockets of shareholders, as
would be the case if the roads were the prop
erty of private corporations, would occasion
a corresponding decrease in the rates of pas
senger fare. SO there is good prospect that
eventually the people could travel on their own
roads short distances for three cents and long
distances for FIVE or six cents, and still realize
sufficient income to pay the interest on the
bonds and to cancel the principal within a
reasonable time.
But there is another and powerful argu-
ment in favor of the construction of these
Of eat four-track viaduct railways by the city.
With these roads in working order and
owned by the city it would be easy to
compel the railroad corporations running
to New York to remove all their
tracks from the city limits, to construct