Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1873-09-27
OLYMPIA. SATURDAY MORNING. SLIT. q. 1873
The OLYMPIA AND TETISo RAIL.
ROAD,

We publish III this issue Of the STAND
ARD the address of the Citizens Com
hittee to thereorle OF Thurston county,
on the question Of subsidy in favor of
railroad to connect Budd's Inlet with
the Northern Pacific al or near Tenino.
We ask for it careful perusal as it
embraces several considerations and
suggestions that have no: before been
presented to the public.
The amount of the proposed subsidy
is not large. nor is it probable that the
maximum amount will he required to
inaugurate the enterprise and carry it
to speedy completion. The question
is, will it pay? A shrewd business man
requires but reasonable prospect of
fair return for lis capital, as n pre-
requisite. He assumes all ordinary
risks as matter of course, and does
not hesitate to pay interest on borrowed
capital, if figures show that it will be a
paving investment Now is there any
reason why the community should ex-
hibit greater caution than an individual
under like circumstances The whole
amount required is less than one-eighth
the present assessed valuation of per-
sonal and real property, and stands in
the same relation to the public, as an
investment by an individual of that
proportion of his capital, with pros
pect of immediate and adequate returns
from it. But it is not proposed that
the present business or population shall
pay the principal, or indeed the inter
est on the subsidy, until substantial re-
turns have been made i'll the way of
increased business, and q division Of
the responsibility with the company
itself, and the thousands of persons
and hundreds of thousands of capital
it will attract to us. The homely axi.
oms used by Mr.. Lincoln in one of his
messages are to the point. He said
cit is easier to pay debt when you
have money than when you have none
and it is easier to pay large debt with
a large amount of money than it is q
small one without any money" This
applies fully to our present situation
If we allow portion of the trade thai
has sustained us, to be diverted to Ia
coma, we will in few years have NJ
money to pay debts of any description
but if we are wise in time, and make
the most of our present opportunities
the debt can be extinguished withou
our feeling any additional burdens from
taxation, but rather a relief as a conse
quence of the renewed impetus tina
will be given to all branches of trade
As a result of the " terminus feve
scores of houses in this place are nov
tenantless, and rents have fallen from
20 to to 25 per cent. Soon as wor
commences on the railroad these tene
ments will be filled and others will b
erected, giving employment to hund
reds of mechanics and artisans, an
creating brisk and steady demand fo
all the products of the farm. The tow
and the country must stand or fall to
gether. Their interests are identica
and inseparable. When Olympia an
Tumwater begin to feel the stimulatin
effect which this enterprise will create
the farmers in every part of the count
and country adjoining will share in til
benefits.
The vote, it is believed will be ovel
whelminely in favor of the enterprise
The few opponents of the measure sig
nifty their intention to stay from th
polls, and if they do the vote will i
quite unanimous. 1t is hoped, how
ever, that every voter will discharge
duty that is no less imperative becaus
it is not sanctioned by the formalitie
of law. We want full and fair vol
upon the question, and by the will {
the majority we are willing that til
question shall be determined.