The Portland daily press., 1875-11-30
Tom ScOtt's Subsidy Mill.

Last week while the consprators of the
st. Louis whiskey ring were realizing that
they had passed beyond the state of ''fearfu
looking for Of judgment and fiery indigna-
tion" to its realization, another set of con-
spirators in the same city were holding
meeting to devise measures by which sue
cessful assault can be made upon the nation
al treasury for the ostensible purpose of
building the Southern Pacific Railway. 1t
may be supposed that that class of specula-
tors who are looking for an opportunity to
turn an honest penny were attracted to the
hall of Col. Tom Scott's Convention. 1t is
quite possible that Messrs. Mcdonald, Joyce,
and associates would have taken an active
part in the running of the Subsidy Mill had
not pressing engagements kept them else
where. There are great many vultures of
various kinds in this country. Mr.. Tom
Scott's Pacific Railway scheme is prospec-
tive one hundred million dollar carcass. 1t is
not a surprise, then, that the scent of this pos
sible feast of corruption should so potently
touch the eager senses of the vuture class as
to attract to st. Louis eight hundred and
sixty-nine of it hailing from thirfy-one states
and territories to Mr.. Scott's affair.
The column Of resolutions adopted by the
Convention undoubtedly epitomizes the
speeches, discussions and professions of those
who are anxious to get the nation into the
hopper of Mr.. Scott's Subsidy Mill. These
resolutions are preceded by series of state
ments or axioms, all of which set forth that
the enterprise which Mr.. Scott has failed to
carry through is one of great interest to the
nation at large and of no possible benefit to
the gentlemen who have travelled weary
miles from thirty-one states aud territories to
be present at st. Louis. These gentlemen
are entirely disinterested and good deal pat
riotic. For railroad enterprise there is a
suspicious excess of the Fourth -of-July and
clasping-hands and cementing the Union by
new and inseparable bonds and that sort of
thing in the preamble aud resolutions. There
is not the least doubt but that the fellows
have an eye to the bonds of Uncle Sam,
which they ask in liberal quantities to finish
the road. There is every reason, too, to be-
leve that the bonds if granted will be of an
separable haracter-inseparable from cor
ruption and heavy taxation. When men ap-
peal to the country for aid to build railway
through their own states in order that the
Union may be perfected, we cannot but
suspect their motives; and the fact that
many of them did their utmost to rend that
Union for four years does not tend to in
spire confidence in these anxious Union
savers in particular. When subsidy conven-
tions talk virtuously about Credit Mobiliers
and urge that economy demands that the over
taxed people of this country shall be saddled
with six millions of annual interest just 10
enable Col. Scott to complete his Pacific
Railroad, and after forty years pay the hun.
dred and ten or twenty millions of principal,
one concludes that Pecksniffs are not so
| rare production as an early reading of
Dickens might lead him to suspect.
Now what is the history of the scheme
which the st. Louis Subsidy Convention met
to bring before the public and adjourned to
meet in the lobby at Washington? 1t is brie
but bad. In those days when Pacific rail
ways were being chartered and subsidies were
being granted without stint, two railroads
were projected to connect the lower Missis
sppi river with the Pacific and were voted
| large land grants. These companies never
| put dollar of honest money into their en-
terprises. They depended on faith alone In
the course of time both corporations fell into
l tho de IF ri
| and following the illustrious example of Oakes
| Ames, he organized Credit Mobilier called
| the California Construction Company. Al
| manager of the two roads, Mr.. Scott con
tracted with himself to build the roads anG
| the branches. For a time the work went OIL
| Detached pieces of the road were built, but
as these companies did not pay their coupons
the sale of bonds stopped and the work ceased
Since that time, November 1873, Mr.. Scott AMI
his skilled talent have been busy about Con
gress with the hope of securing subsidy, but
| his efforts have been fruitless. Mr.. Scott and
his associates have given up the project O
| building two roads and now propose to unite
| to build one road near the 103d meridian tC
San Diego, CAL, and complete all the branch
roads partially built to common junction
| and ask the government TO furnish the money
to complete the lines at the rate of 10000
per mile, or what amounts to the same-s
| guarantee of the interest of the bonds at the
rate of $4,000 per mile at per cent. per an
mum in gold. The length of this railroad ant
branches is as follows:
Lines. Miles
Main line, Shreveport to San Diego. .".......1 67t
Branch Marshal to Texarkana. ................ Il
Branch, Texarkana to Fort Worth. ............ 1S
Feeders A. & p r. R., Vinita to 1C3d meridian 60
New Orleans to Shreveport. ........,........ 40(
Total railway miles. ............ ......2,9 ,93'
Col. Scott and his Subsidy Mill demand
that Congress shall direct the Secretary o
the Treasury to indorse upon the bonds o
the Texas & Pacific Railway Company thai
the United States guarantee the interest or
| such bonds at the rate of five per cent. pei
annum in gold for forty years, at the rate O
$4,000 of bonds for each mile of road, 46:
miles of which is already built.
A few figures will serve to illustrate the