The Cincinnati daily star. [volume] ([Cincinnati, Ohio]) 1875-1880, 1875-10-29
NE W SUBSIDIES.

OOAhpAOtAOh Va ChbSA PitoSS ~ SJSS'SoN w. "
scale even more vast than any hereto
fore undertaken. We have noticed OF
late calls for public meetings in different
parts Of the country, to take into con-
sideration the petitioning OF Congress
for grants in aid of a variety Of schemes
as to each of which 1t may be said, with
the enthusiastic Col. Sellers, "There's
millions in it,"
3 The Northern Pacific railroad, once
under the Jay Cooke tinanciering, is to
demand subsidy of $60,000,0OO. The
Southern Pacific road, under Tom Scott's
patronage, is to require SOC, 1000, 900. The
Mississippi improvements will need
$2O,0O0,e00. The James river and Kama
wha canal will absorb $75,oO0,00O The
enlargement of the New York and Erie
canal will be content with $4,000, 600.
The levees of the lower Mississippi will
ask for SIS, 100000. The Atlantic and
Western canal Through Georgia and
Tennessee) will require $50 ,oOo,0oO. The
Ohio river slackwater improvement will
call tor $40, 100000. The Chesapeake and
Ohio canal will want $20,v00,000. The
Tennessee river Improvement will put
in for $40, ,000,0 900. The total amounts of
the improvements" above enumerated
will require $4oO, O,0oO, 600. And no man
can tell how many other similar projects
these now named may give birth to by
the time they can be presented before
Congress.
II is not yet developed as to what. par
ticular forms these requirements for
Government aid shall eventually as
sumo, whether by lands, by bonds, or by
guarantees of interest. But, no matter
what questionable shape they may come
in, we trust that the people will not
sanction their acceptance by Congress
in any form whatever. The country 10
burdened with an immense debt, thrust
upon us by the exigencies of gigantic
civil war. Its promises to pay are at a
material discount by reason ofprolonged
default in payment. There is no con-
ceivable mode or process by which the
country can redeem its promises and ul-
timately cancel its debt, but by retrepch-
Ing its expenditures, outstanding its re-
sources, and Withholding it's hand from
any such enormous additions to present
liabilities. TO gain this end, the wisdom
of man can devise no other procedure.
Granting, if you please, that each and
every one Of the before mentioned i'm
provements be of nationll Importance;
granting, further, that they would all
and seyerally contribute to public good,
by developing commercial facilities now
imperfect or still slumbering, and by
opening up new regions of our territory
to settlement and improvement and
thereby adding to the country's wealth
and ability to pay-granting all this,
still the objections to the incurring OF
such vast liabilities in addition to pres
ent burdens are not met, and are OF
nature SO serious as to bid US pause.
We know that tits affirmed that the
Government has these companies, with
all their opulence OF capital, between it
and it's contingent liabilities. But Ger.
tainly the people Of this country can not
need any new lessons touching the utter
unreliability of these corporate grantees
Of Government subsidies and credit
The millions of uniiquidated interest
now In default, and which the Govern
ment guaranteed to pay, should be con-
elusive of the impolicy Of granting any
more such subsidies, while the Govern
ment itself is struggling under a noun
tain Of debt Such enterprises, then,
granting them all to be meritorious,
must be postponed to the time when
the country's resources are no longer
mortgaged for its debts, and when our
currency shall have assumed a con-
dition OF certainty and solidity, so
that no disturbance in business
shall attend the prosecution OF
enterprises involving an outlay SO vast.
For, it is obvious that were such el.-
terprises now entered upon, the only
possible hope of prosecuting them with
energy would be founded upon the issue
of AN immense amount OF government
currency, to be added to the presentvol-
ume of irredeemable paper money. This
is a necessary concomitant Of such vast
undertakings, in case Congress should
commit the country to the support
and Endorsement of those schemes
of improvement. Such jobs, found
ed upon currency Of credit,
can not fail to work still further
deterioration of the financial health of
the country,a and lead to even greater de-
m0Falization of its business affairs.
Consequently, we hope that the people
will say to Congress ''hands of; give no
more subsidies to jobbers and specula.
tors until we get out of debt, ana then
set them atdefiance."
o es-a----
THE RESULTS OF the elections that are
to take place in the States of New York
and Pennsylvania next week, are sci
down, even by the keenest politicians,
among those doubtful things that are
all