Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1875-11-25

Q
Zers Of our country by the exchange o
cur manufactured goods for products 0
her soil and mines.
Eighth-Because it is the duty Of tn
governmental protect the citizens who's
guardianshipit assumes under the treat.
OF obligations in the accumulation o
Mexican territory in which they wer
resident, and also ell other citizens whit
have been induced by grants made by
the government to aid the building O
railroads, to settle in the Territories
which those roads were intended 10 de
velOp.
Ninth-As prudential and proper act
to encourage the people Of the south
who may very justly and with great
force urge tbat while one hundred and
seventy-five million dollars Of the pub
lie moneys have been appropriated il
the northern States and Territories since
the organization of the government,
there have been but nineteen million
dollars expended in the southern States
and Territories. Because not only will
the road as a means of national defense
strengthen the military arm of the gov
ernment, and at all times perfect the Be-
cuTity OF our Pacific coast against at
tack by foreign powers and reduce the
expenses of its local administration,
bind our country more closely together,
facilitate communication with the Pa
cific and with old Mexico, develop new
traffic and the agricultural products and
great mineral wealth of Texas, New
Mexico and Arizona, but it will also, by
the demand for manufactures and pro-
auctions of every description, including
iron, steel, cotton, wool, timber and
other materials needed in the construc-
ton ofengines, cars, bridges, machinery,
buildings, etc., for the use of the road,
and by the laborers employed in build
ing and maintaining the same, give en-
ployment TO the furnaces, mills and ma
chine shops of the country, and at once
revive and stimulate the depressed in.
dustry of all sections; and
WHEREAS, To secure the government
and the people these several advantages,
and in addition thereto secure the re-
turn to the people Of the thirty million
acres of land heretofore granted to build
the thirtieth parallel line, and save the
building of fifteen hundred miles of
road, it is the Judgment of this conven.
ton, not only the right, but the duty of
the national government to render such
guarded, as will secure the prompt COM
pletion Of the line referred to, and such
extensions resulting therefrom; now
be it
Resolved, That the southern line to
the Pacific ocean should be built on or
near the thirty-secOnd parallel, from
Shreveport, ViG Ell Paso to San Diego,
where 1t will make connections with
ha 90 tho Daai&a 80, -
excellent harbor, and connect also with
the railway lines now building from San
Francisco to the southern part of Cali
fornia, thus securing a continuous line
to that great city and port.
Resolved, That there should also be
constructed extensions from the most
eligible points of the Texas and Pacific
to New Orleans, Memphis ard
Vicksburg, and from point near the
one hundred and third meridian to Vi
nita, in order to reach the Mississippi
river and to connect with every road
and harbor of the Atlantic coast, and
with every hallway east of the Rocky
mountain slope.
Resolved, That to insure to the nation
the greatest benefits from this line of
read, aud to preventits being controlled
in the interest of any one party and SEC
tons OF country, there should be estab-
lished such regulations as will maintain
the road from Shreveport to the Pacific
as an open highway and as competing
line to all Sranscontineatal railroads 10
be used on equal terms bysil connecting
roads which are now or may hereafter be
built, similar regulations to be applied to
the branches receiving similar aid to tho
Texas and Pacific trunk line.
RESOLVED, That 1t should be built at
the lowest possible cash cost, in order
that the people shall be protected
against undue or oppressive charges,
and shall be secured in its use at the
lowest possible rates required to protect
the comparatively small capital actually
on its constructions result
which can be greatly aided by its con-
which can be secured at
prices much below those that have pre-
vailed for many years past, and Chat
shall at all times reserve the
power to protect the people against
speculation or oppression in the use of
this national highway.
Resolved, That the building of the
main line should proceed under such
as will insure the cOnstruc-
ton Of the road continuously from the
point Of its present completion in Texas
to San Diego, in California, or until it
meets the extension of the same line
from San Diego.
RESOLVED, That the construction of
such main line and branches can be
best secured by the extension of govern
neut aid to the line and branches here
tofore mentioned in these resolutions, in
the form OF guarantee Of interest, not
principal, on a limited amount OF five
per cent. construction bonds, payable in
fifty years, so that the entire liability as
sumed shall not in any event exceed
two thousand dollars per mile, per al
mum, nor interest on actual cost of the
line and said branches; such liability to
be secured by a first mortgage on all the
railway property and franchises of the
and upon the lands granted
by the United States, and any deficien-
cy in the earnings of the line and
branches to meet the interest maturing
Oh these bonds while the road is in
course of construction, to be met by a
deposit in the United States treasury OF
one eighth of the whole authorized issue
and the sale of the same il it becomes
necessary, after applying all
the net earnings and pro-
ceeds of the lands, and the sums due for
government transportation, mail and
telegraph service, to meet the interest so
as aforesaid; so that there
shall be no outlay by the government,
these bonds to be issued only to the &C
tual amount of cash expended on the
road and branches, and upon the GER
tificates of sworn commissioners ap-
pointed by the government to supervise
the building of the road aud branches,
and their redemption at maturity to be
assured to the purchasers and holders
by providing sinking fund out of the
revenues of the road and branches to be
paid by the companies into the treasury
Of the United States of such amount as
may be sufficient to pay off ard dis
charge the enthe bonded obligation ofthe
companies on which the government
has guaranteed the interest.
ResolUed, That the president OF the
convention be requested to prepare an
address to the people of the United
States, em6OdyiDg the views set forth in
the preamble and resolutions adopted by
this convention, and that he be author
lied to appoint committee OF thirteen,
who, with tine president OF this conYen-
ton, shall present an engrC ased copy of
the proceedings Of this convention, to-
gether with the address, to the President
Of the United States, the presiding Off
Ger Of the senate and the speaker OF the
house of representatives, and to take
such further action as in their Judgment