Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1875-11-18
gEMPHIS APPEAL
THURSDAY. NOVEMBER IS, 1875.
soUTHERN- PACIFIC RAILROAD.

TIL RSDAl. NOt EMDEh lSS Iofvs
SOUTHERN PACIFIC RAILROAD
This road is the great want Of the south.
A convention will be held 10 this city
tomorrow for the purpose OF DELHI
Grating as TO the best means Of prOmot-
ing this great enterprise. The meeting
which will be organized in this city to-
morrow will have an important bearing
on the convention which convenes at
st. LOUIS, on Monday next, which will
be largely attended by representative
men Of all the States interested. Other
cities will be ably represented, ana
Mayor League has selected as delegates
for Memphis our best citizens. Inc
north as well ss the south is in want OF
the Southern Pacific railroad. The pres
ent Pacific line is OF little value to the
south, as II requires near a thousand
miles Of transportation from half OF the
States to reach its terminal point at
Omaha. The demand for the road on
the thirty-second parallel sprung up in
stinctively with the acquisition of Cali
fornia, Arizona and New Mexico by the
results Of the Mexican war. The enter |
prise, first fostered into being by Texas
and the late Jeptha FoWlkes, |
Of this city, would have received
government aid fourteen years ago had |
it not been for our unfortunate civil |
strife. The northern States and people |
awaited themselves Of the opportunity |
which presented itself, and secured the /
present road to the Pacific coast. Now
the southern States must not despair or
halt in their stern resolve TO secure that
great highway, the Southern Pacific
road. 1t is Of more practical value to
the people interested just now than any
mere abstract question Of theory or pol
itics. The grange organizations, State
and national, have spoken out in favor
Of this competing line to the Pacific,
and against the monopoly. The legis-
lstures OF more than half the southern
states have passed resolutions recon-
mendiag and praying congress to give
the needed aid; while the boards OF
trade and chambers Of commerce in al
most every city Of the southern,
western and middle States have
done the same. The experiment
has been made, and it is DEM
onstrated that the aid Of the
government in some moderate and we'll
guarded form, is necessary to build q
road across the continent. Private capt.
tai and enterprise might have accom-
plished the work before the panic, but
the prestige and credit Of railroads, as
well as of every other business enter
prise, is too severely impaired and
shocked to command the needed capital.
If ii were an original question and no
precedent set, it might be well to dis
CUES the policy Of government aid to
any public enterprise Of the kind, but
the government has given by the hum
dIeds Of millions to one section until
great preponderance exists in its favor.
We must have some comparative aid
for the other section, or Justice and
equality can never be secured. The
south is not only crushed and depressed,
but it is so with the industries in all sec
tons. Let congress aid this road and
the starting point will be gained for the
revival of trade and profits all over the
land. Put forty or fifty million dollars
s6oat in building this road, and it win
be greater relief to the people than all
the initiation proposed. What is asked,
Of congress for the Southern Pacific
railway is very simple and concise. 1t
is that the company shall issue its own
bonds, and that the government shall
give an assurance to the purchaser OF
the bonds that he will get his interest ]
every six months-the company in turn
first, that every dollar for gov
eminent transportation, postal, mill
tsry and interior, and Geographic cor
over its line, shall be re-
tanned by the government for the pur-
pose of meeting this interest; and Sc
cond, that all the proceeds of the public q
lands granted to the line shall be paid
into the treasury OF the United States
and be held in like manner; and not
only that, but that the earnings Of the
line shall be appropriated and paid on
the first mortgages Of the government
into the national treasury, and that ten
days before the expiration OF every six
months the secretary OF the r
treasury shall be provided with n
The money, at the expense of
he company, to pay the interest, =,
.he government never TO be called upon :
% appropriate dollar. And, in sddi-
ion to this, the company is to leave
With the government five thousand dol
aTs per mile Of its bonds, which the Sec
etaly of the treasury msy at any time Z
should the company in any possible
contingency fail to have the money
with him) sell at current rates, and ap-
1ly the proceeds to the payment of the
interest; so that the government can in
30 case be called upon to pay one cent
rom the treasury. 1t is no doubt true
hat there is deep laid scheme, on the
part Of pretended friends of the south,
Jut friends only to themselves, tOEeduce
nen into the support Of their plan for
he construction Of road to the Pacific
.oast, northern in every thing but the .
lille, which is used TO delude and gull the
outh. All such pseudo Southern Pacific
Dads should be exposed, for they are n
iothing bat frauds, cheats and swindles.
DEATH OF CAPT. Z. W. KENNEDY,
We publish in another column the
oil particulars of the death Of Captain
2. w. Kennedy, which sad event was
'riefy announced in yesterdays AP- 6
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