Los Angeles daily herald., 1875-11-11

rieDce HIS OpeHtu tuciA SSSo w wy .
that are dark and tricks that are vain" "
Effort will be made to use Democratic
sympathy for the people of the South
to draw to the support of the scheme
those Democratic members who are
not tsufilciently informed TO understand
the intricate working of wheels
within wheels. The promoters OF
the proposition very well know
that they cannot obtain direct
subsidy, and they do net propose
to ask for it. The plan will most
likely assume the shape of asking
the Government to guarantee or ell
dorse the bonds of the company to the
amount of about $4,000 per mile. The
length of road on which bonds will be
issued is l,45O miles-the distance be-
tween Fort Worth and San Diego.
The proposed branches to connect st.
Louis, Memphis, Vicksburg, New Or
leans and other points with the main
trunk will aggregate about 1000
miles. The mathematician will not
be long in discovering that If the plan
succeeds the public will become the
epdorsar of the roads bonds to the
amount of from S65, 100000 to $4,000,
600 for no one knows how many years.
Certainly the surety will hold until
the road itself earns the interest, which
will foot up S3,5O0,OOO per annum.
Congress, and especially the Demo-
cratic memb thereof, will do we'll
to look out for this bill, for should it
become law it is the Democratic party
that will be held responsible for tie
many millions of dollars it will force
from the peoples pockets. 1t Is true
that, as drawn, the bill does not call
for the abstraction of this amount
semi-annually out of the Treasury. but
the amount of bonds per mile is made
enough at the outset 10 permit q por-
ton of them being withheld,and from
the sales of the same, as the interest
on the remainder accrues, it is to be
paid. In plain language, , it Is designed
to borrow under this public guaran-
tee, while the road is building, suffi-
cient, in addition to its cost, to pay
the interest on its cost for series OF
years, longer or shorter as the case
may be. The New York Daily Bulle-
tin has the following very lucid expla-
nation of what appears to be scheme
that should be knocked on the head
as soon as it comes to the surface:
| This bill is ingeniously drawn to
avoid the numerous objections which
will rise up all over the country to
any policy of using public money for
the turtherance of private ends. That
it does, nevertheless, take something
from the Government of great value
must besthe fact, or otherwise such
! tremendous eXertions would not be
made to secure its adoption. There is,
| no doubt, o very general desire, espe-
cially in certain political circles, to do
something in the way of helping the
struggling industries of the South on
their feet again; and as the building
of the Union Central line across the
continent gave considerable stimu-
lus to the railroad system lying North
of the Ohio, it is supposed that road
along one of the lower parallels OF lat
itude would do much for the system
of roads South of the Ohio. We al
Iude to the existence of this feeling
not as justification of any designs on
the public treasury, but as indicating
one of the strongest reasons why it
finds go much support. Colonel Scott
and his allies shrewdly seek TO take
advantage of this idea by presenting
as the proper recipients of this pater-
nal magnanimity. 1t was undoubt-
edly from desire to avoid all appear
ance of undue sectionalism that mu-
nificent land grant was awarded to
the 32d parallel route, as well as to
the 35th and 10th parallel routes.
Besides the general objection to aid
ing private enterprises with public
money, there is special objection,
which may weigh with greater force
in the convention now called than the
one we have indicated; for we doubt
not particular regard has been paid in
the selection of delegates to their
views on this subject. 1t is this: That
the Texas and Pacific is not in any fit
ting sense Southern Pacific road ut
all, but rather q Southwest extension
of the Pennsylvania and connecting
lines, which are distinctly Northern
roads, with Northern officers and Nor
thern termini. This is not what the
Southern people want, nor what their
Northern sympathiZers want for them;
and it will be strange if this misap-
preparation Of names and sympathies
does not make nself heard in the con-
vention.
If it is the irrevocable purpose of the
majority of Congress to extend Gov
ernment aid to second railroad to
the Pacific, we may rest assured it will
not be the last, and therefore there Is
great danger in this proposal; but
what is peculiarly odious is the fact
that it is done under pretense of it.
being a magnanimous boon to the
South, while 1t is really nothing more
/ than pepversi0n of public feeling anC
credit for the benefit of gigantic
Northern corporation which is moi
satisfied with its share of the advan
tages offered by the present Pacific
Railroad.
1t may be very laudable ambition
in Col. Scott to want the control of al
entire line between New York and tn,
4 Pacific Ocean. and so to get ahead o
his great rivals who now divide will
him the through business East o
Omaha; and we should applaud hi
efforts if he relied solely on privat
capital to provide such road; bu
when he seeks to get it by means o
Government aid, and that by taking
| ADVANTAGE of the Southern tiers O