The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1874-03-26
or INNS no RAILRoADs

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Although the financial storm Of last year
has spent its fury, thewrecks are too numer-
Gus and the disasters too recent for any
Texas railroad company TO hope TO obtain
money this year at the great financial cen
tres-LOndon and New York-upon their
bonds, or upon any security in their power
TO give. So completely has the busting Of
Jay Cookies bubbIe-the North Pacific
destroyed the confidence Of capitalists, in
the sOundness of all Pacific railway enter
prises, that even the Texasand Pacific, with
nearly four hundred miles Of completed
road, and amagni6cent land grant, end il
impossible to obtain money for the prosecu-
ton Of work. What possible chance then, I
has any other Texas railway company 70 60
on with its work this year For the Leg
islature to require it, would be unfair % The
companies and unjust to the localities fnler
ested in the construction Of the roads.
No doubt, before the year is over, con-
fidenee viii be so far restored, that capital
lists win begin to appreciate the difference
between the prospects of trans-continental
railway three thousand six hundred miles
long, and for distance Of two thousand
miles traversing country scarcely superior
to the desert of Sahara in productiveness
or Siberia in climate, and the Texas and
Pacific, eighteen hundred miles between
the two oceans, with the soil of Belgium
and sthe climate of Italy. But this is
matter of time. Meanwhile the time is
running on, in which portions Of the Texas
roads are required, by their charters, h. be
completed; and the question, presenting
itself, is, viii the Legislature give reason
able extension to these companies or win it
blot out their charters, by refusing ita
The effect in all probability of such refusal,
would be toput the Texas and Pacific Com
pany into the hands of a receiver for iqui-
dation, and to snuff out almost every rail-
road charter in the State, except those of
three or four completed roads, which
would thus be erected into monopolies of
the first class. We can see no possible in
jury to the State in granting the relief asked
for, but we do see clearly that to deny it,
will destroy for years to acome, the
hopes of the whole Southern seountry
for a railway outlet to the Pacific ocean,
and of Eastern and Northwestern Texas for
a share in the benefits of the railroad sys-
TEN of the State. hiisl phaeu "A
There has long been settled conviction
in Easfern and Western Texas that fboseI
localities have not been dealt by fairly in
the distribution of lands for the eonstrue-
ton of railways. They find, by reference
to the reports of the Comptroller, that, be-
tween the years 1869 and 1872 the taxable
value of property in the counties along the
Texas Central, International and Great
Northern railroads, increased, on an aver
age, more than 65 per cent, while
that of the same number of the best
counties in Eastern and Western Texas,
increased but 90 40 per cent, or a differ
ence in three years of nearly 40 per cent. in
favor of the railroad counties. Such an ex-
hibit is not calculated to allay this discon-
tent, and should this Legislature deny these
localities the only present hope of getting
railroads by refusing to extend the time
as asked for by their representatives, the
people of Southern, Central and Northern
Texas, before many years, will find that
their selfshness has united the people Of
Eastern and Western Texas, as one man, in
favor of division of the Stateo dsiz2 ID