, 1874-12-08

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end Of tho timo he tho wool, cotton, iron,
wood, elny, md leather, all increased in valuo
by tho cont Of Tho labor expended Oh thon'.
Tho country would havo TINT much atldetl to
ita wealth. In addition to tho support Of tho
ton thousand families, thero would 10 tho
product Of their lnbor atldod 10 tho previous
valuo Of tho raw mnterin1. Any expenditure
for any purpose snyo productive labor is a
waste, MI iluprovidont destruction Of the
peoples accumulation, as much so ~ to ray
lnon for rolling stones mp a llill that they
might bo rolled down nga'n. Nor is
tho caao c1tanged bcca7,so tho proposed
expenditure is speculative. A protty safo
test Of the probablo protluctivoncss Of my
enterprise is the willingness Of private capital
TO become invested III it. railroads havo
heen built on speculation; but i'll every case
the nominal cost Of tho snmo has boon 'noatly
1natlo MP Of money wnsted, md which ever
must remain lost and tnproltab1o. 1t Is no
loss wasto Of money to expond it in bt1i1d-
ing railroads whore they aro not wanted, or
through tho sandy desert or frozon wilder
ncss, than to oxpond it digging holes and I'LL
ing them up ngain. Fifty millions of dol
1nrs may bo expended in paying for 1a-
bor for tho ono work. rs for tho
other, anl with equal results. Tho United
statcs expended $0i, 100000 on the Pacifo
railroads tho Companies expended m cqual
a1nount Of tlloir own bonds; mud there is in
addition perhaps n capital stock Of $3.50, ,00o,-
17.,:ko 4,11 IL i
out moro than SEC, 900, 600 for interest on its
bonds, md by tho timo the bonds mature will
havo pnid $64. coo, 900, making M aggregate
coat Of tho roads at that timo Of $3.50, 1000,
not including tho 1and donated. All Of this
immense sum, contributed mud to be contrib
uted by tho Government, was MI wasted; is
not aud nover will DO productive, and, SO far
no It WIS MI addition to tho national wealth,
might lnye been cast into tho sea. AL that
remains to show for it is notmo than equal
10 thomouey expended outside Of tho Govern
ment subsidy. Itgavo employment form time
to labor, and supported n number Of
families; but this e12s, 900, 900 advanced and
to DO advanced by tho Government would
have dono tho aa,no had it been expended for
Had that $3l2s ,0oo, 600 beon loft with the poo
pie, to bo BY them used IN paying for labor
that produced something, the fanlilies would
have boon supported just tho salno, md the
product Of TINT labor would hayo been added
TO the national wealth.
Tile applications boforo Congross for sub
sides to carry on private enterprises, SO un-
productive tllnt private capital will
not toucl, thcm, include tho building
Of railroad through tho sandy deserts
Of Texas, Now Mexico, aud Southern
California, nnd another though tho unin-
habited wilderness Of tho North. Spccula-
tiyo-perhaps ishonost-contruction COM
panies, which have sunk and buried all tho
private capital they could inveislo into their
iobs, now appeal to Congress for subsidies
Of fifty to Il hundred millions Of dollars eaeh
to enable them to give employment to labor !;
and Congress is asked to take that sum from
the hands Of those who aro using it produc-
lively to sink aud destroy it irretriovab1y,
They are asked to tntto from the man who ia
using his money for labor in oultiyating tho
land, or in manufacturing, tho means
necessary to Ills business, to bury it in
Now Mexico or olong the boundary
Of British Columbia. This money left
with the people will employ moro 1abor
aud support more families tllan if given
to theso construction companies, and at the
same tinio will produce dollar for dollar i'll
rapid succession, TO the benefit Of tho whole
people aud to the increase Of tho general
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