New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1875-04-23

| ~ lave 1elI Tree tDelH political Toes
i deny the compromise, and yet profit b
d the opportunities which it has afforded t
/. strengthen their position and prospects
+ CAN 1T HAVE BEEN STRAW BID ?
t The people of New Orleans have lon
: : been the victims Of those capitalists t
whom money is no object" and who vii
e undertake the most stupendous work
$ "without asking dollar" We coul,
g specify among these the applicants for q,
8 act incorporating a company to build
: railroad from Mobile to Texas. The &C
) incorporating company to rebuild ant
! maintain the levees was solicited by :
select set OF gentlemen in the lobby. Tha
| money was no object to them was plai1
from the style IN which they lived at the
notels and restaurants, the liberality will
f which they loaned pocket money arc
bestowed shares in this profitable and
public spirited enterprise These wealthy
corporators, however, no sooner obtained
the act OF incorporation than they turned
up On Wall street hawking about this
valuable franchise il the hope that some
person who had money might take it of
their hands at a margin sufficient to make
small fortunes for those who had obtained
It. They failed, and their successors;
now levy three mills to pay them for
maintaining the levees in perfect condi-
hon' which they do, General JEFF Thomp.
son being witness Of their faithful COM
pAance. We have thus found that the
lne2haustlble Golfers Of these capitalists
have not yielded altogether as much
or as rapidly as their enterprises re-
| CURED, and they have come at the last to
solicit State Endorsements or guarantees.
or acts converting stock into State bonds
or some one OF the many devices by
"hich the Lobby first procure legislative
recognition and then realize money upon
some hypothecation of their contract.
This is, indeed, the Credit Mobilier prin-
clpie It frs. procured an act of incorpor-
ation' then persuaded the government
INTO loan OR donation; then made divi-
dends and profits by dividends of such
loan or donation; but sorrow a cent of
their own money did these cunning cor
poTators ever cont ribute. We do them
injustice. They did advance money from
their own pockets for printing, hotel
bills and such Incl dental expenses as were
necessary to put their bill through. The
compensation to legislators and others
was an assignment of full paid stock.
which became valuable when the Joint
efforts OF al the party ha legalized their
enterprise. SO soon as this was effected
the capitalists who had started the charter
reimbursed themselves for their advances
IRON the frs sale Of first mortgage bonds
or the nrst fruits Of legislative appropri-
ation. It IS now many years since the
subscribers and corporators of a work mn
up their own money for that purpose
We begin to have apprehensions that
me mUnlticent offer of Mr.. Eads to iettv
the river outlet, without an outside dollar.
may fall somewhat into the sere and
credit Aobilier Leaf. We hear of a. Joint
stock company to be created with a. capital
OF seven hundred and fifty thousand dol
lars, upon which only three hundred
thousand dollars will be required at pres
ent, and It begins to look somewhat like
that magnificent indifference to money
which merely wishes an act of incorpora-
ton that it may sell out if purchaser
can be found, and abandoned to those
1reduloas underwriters, the people. II no
purchaser can be found
We were perfectly sincere in cur hone
hat Mr.. Eads did represent something
more SOLID than the Credit MobiEer of
lis own sanguine expectations. It's now
probable that Congress has
Incorporated Captain Eads or his ex-
9ectatlons, and the public is expected to
axe stock IN him to carry OF. his ex-
'ectatlons. We still hope that he NAV {
aise capital somehow or somewhere. t
because until his experiment shall have (
'een decided, j. would seen, we will =.
ever be allowed the improved use Of the t
iver outlet. =
Among the mos. on1inous intimations Of L
be financial letting down of the grand
extractor, to whom. money was no object. !
one winch is apparently evident only to
ne eye OF the experienced Journalist. 4 s
Magazine with the title Engineer:nc, is t.
ubEshed il Manchester, England, and c
lso published in Vienna, Germany. Ii S
work Of high scientific authority, and K
universal circulation. In the April j.
amber Of this work appears an article On b
The Mouths of the Mississippi" This 81
'tlcle -auds Captain James 3. lads as a
the successful engineer Of the great "
ched bridge over the Mississippi" who b
III continue to occupy the foremost W
ace in carrying ont the largest engineer t
8 works IN the United States, if not in p
e world. Among other engineering II
unphs OF this gentleman is mentioned tt
e defeat of "a canal ring, embracing Is
thin IT'S control an influential press, a OF
weriul section of the commercial COM ht
unity, engineers and politicians. As &C
additional and superfous stab IN the al
reass OF deceased opponent, the on
tier CT the article goes on to defame still
tther the project OF the canal. It saws 10
n