The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1875-11-11
The St. Louis Railroad Convention.

uiVOiy vi loo Plopooeo oS0Aon' ~ -
called for the professed purpose of me-
morializing Congress to lend aid in some
available form, by actual appropriation
OF by the endorsement of the company's
bonds, for building grand through
freight and passenger line from the East
to the West, passing through the South.
ern States; but, in reality, the compost
ton of the convention will be such as to
ensure the adoption of the Texas Pacific
Road, which is controlled by the great
Railroad King of Pennsylvania, Tom
Scott, with Pacific and Atlantic con-
nection by wsy of St. Louis, which is
professedly Southern Road, but in re-
atty only skirts along the Southern
border, and, as has been remarked by
some of our exchanges, will divert trade
from the South to the advantage of cities
along the border line and in the West
National aid has been so literally extern
ded to Northern roads of late years that
it is conceded fact that if any further
assistance is rendered to railroads by
Congress, it shall be to Southern roads
and, hence, one so well versed in the arts
Of diplomacy as Tom Scott, appreciates
the necessity of apparently urging a
Southern enterprise, and of having the
attendance of such number of Southern
delegates as to confer upon this measure
the coloring of genuineness. Speaking
Of this meeting, the New York Daily
Bsletin says:
The proposition, as we understand it,
does not ask for direct issue of Govern
ment bonds-as that would run counter
to the public sense of propriety and to
an act of Congress expressly prohibiting
an increase of the public debt-but calls
for the government guaranty or endorse
ment of the Company bonds to an amount
averaging $4,000 per mile for the !,45O
miles between Fort Worth and San Diego,
and for 500 to 1900 miles more for
branches leading to Saint Louis, Cairo,
Memphis, Vicksburg, New Orleans, Gal
weston and Indianola. In other wordssit
seeks to commit the public to an annual
interest liability, as endorser, for railroad
construction purposes on something like
ST., ,OOO,O of paper obligations for Sc
ries of years-probably until the roads
are able to earn the amount, viz, s., $780,
900 per annum, in gold. 1t is true that,
as drawn, the bill does not call for an ab-
strnction of this amount seHi-annually
out of the Treasury, but the amount of
bonds per mile is made enough at the
outset to permit portion 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
guarantee, while the road is building, suf-
fcient, in addition to its cost, TO pay the
the interest on its cost for series of years,
longer or shorter as the case may be.
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 futherance of
private ends. That it does, nevertheless,
tai from the Government something of
grtlt value must be the fact, or such
tremendous exertions would not be made
to secure its adoption. There is, no
doubt, very general desire, especially in
certain political quarters, to do something
in the way of helping the struggling in
dustries of the South on their feet again |;
and as the building of the Union Central
lies across the continent gave consider
able stimulus to the railroad system ly-
ing north of Ohio, it is supposed that a
road along one of the lower parallels of
latitude would do much for the system of
roads south of the Ohio. We allude to
the existence of this feeling not as a JUS
tifcation of any designs on the public
treasury, but as indicating one of the
strongest reason why it finds 80 much
support. Colonel Scott and his allies
shrewdly seek to take advantage of this
idea by presenting themselves as the
proper recipients Of this paternal mag
nanimity. 1t was undoubtedly from a
desire to avoid all appearance of undue
sectionalism that q munifcent land grant
was awarded to the 32d parrellel route as
we'll as to the 35th and 49th parrellel
routes.
Many of our Southern States, cities
anG towns are sending delegates to this
convention, whose action will very prob
ably be adverse to their interests. If
any road is built by government aid, it
should be one running through the
Southern States near the Gulf, and not
one running along the border line. The
programme of government endorsement
is very adroit one but will not probably
decisive the members of Congress, who
are familiar with such lodges. The
present Congress, however, is not in the
remotest degree likely to engage in the
railroad business after the hue and cry of
the entire country against former legisla-
ton in this respect. The Democratic
House and the Republican Senate will
naturally each fear to engage in the
granting of any further subsidies, and
even if one should vote it the other
would reject in order to give an assur-
ance to the country that it was the party
of retrenchment and reform. There is,
therefore, according to our views, no
practical good to be derived by the South
from the action of the proposed conven-
ton, and no probability that its action
will be adopted by Congress. 1t must,
therefore, prove failure, unless private
subscriptions are resorted to, and that is
no part of the programme at present.
We have no objection to the building of
any road, but we do not wish the South
to commit itself to a scheme from which
no advantage is to be derived. If we
ask for government aid, let it be to a
truly Southern road in its location and