The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1875-01-28
{ (From the Courier JournaI.)
The Case in a Nnt.sh all.

AAe Ease IN a NUTSHELL
Reca'tse we have asked of Congress an act of
simple Justice to the South, in the in,lorsontent
OF the Texas Pacific railroad to the anount Of
soo,ovo "a NUE. we are charged by tlfe oro:tlls
OF those nrenopolies which, having yorpnd thnn-
selves at the expense Of the Governnfent- want
to s1ut down on al governmental aid. AZ the
advocates OF q ruinous scheme of outlay which
the country is unable to afford at this time
One OF these organs accuses us OF proposing n
subsidy OF over hundred millions of dollars
whilst another, of an overlooking Imagination,
puts the figures as high as two hundred and fif-
ty Millions. fEhe truth is there is no proposal
for any subsidy at all. There is no proposal
for any outlay of money. There is proposal
for a loan of credit on ample security, and a
very casual inquiry will show tint no possible
loss can accrue to the Government. AS a full
and. complete answer to our critics We will
again run over the case. But we shall put their
wild assertions to rout and Illustrate at once
their iliberality and their unfairness.
Tbs sum for which the Government will be
responsible, if it shall guarantee the interest on
the bonds Of the Texas Pacific, will be
about So, 500, 900, when the entire amount of
bonds contemplated shall have been Issued
We presume that no intelligent man, who has
examined the subject, doubts that the mort
gage given the government upon the road, its
earning and assets of every description, will
enable it to ultimately recover any money it
may be required to pay in this behalf. But let
us consider Tire probability of the road earning
enough from the start to meet this guaranteed
interest. 1t must be remembered that the
bonds will not be issued all at once-nor, there
FORE will the interest account reach the sum
above given for several years-bnt that, for ev-
cry twenty miles of road constructed and equip
ped, bonds to the amount of $35, 900 per mile
may be sold. New. the earnings of the Texas
Pacific mot including the Atlantic Pacific from
st. Louis to Vinit:) upon the 26l.7 miles which
it has in operation, to wit 2217 from Texar-
kama to Dallas, and 40 miles from Shreveport
to Marshall, for the first sixteen Gays of last
month were $6f, SAB or a little more than
$4,000 per diem. Upon this basis the estimated
earnings OF this portion of the line would be
81, 400, 900 per annum, large sum will be nee
essary to meet the interest &C five per cent. on
the amount OF bonds which the company could
call for within, perhaps, the next Two years.
The earnings OF the road, however, have shown
a steady increase since its opening Of a percent
age sufficiently large to warrant the assumption
that it will nearly, il not quite, keep pace
with the increasing interest to be paid as the
construction progresses. 1t will penetrate a
tier OF counties III Texas into which an .excep-
tionally large immigration is already flowing,
and which embraces some of the best farming
lands in the State. 1t is safe to say that two
years hence the country for two hundred miles
beyond Dallas will give more patronage to the
road than the country between Dallas and Mar
shall could have given two years ago. When
it reaches Ell Paso it will tap a reservoir of trade
already organized and awaiting railroad facili-
ties, and it's business will be at once immensely
increased. The New Mexico and Arizona di-
vision extends from Ell Paso to Fort Yuma,
397 $40 miles. 1t not only passes through the
rich and populous valley of the Rio Grand,
where immense crops of cereals, fruits and
grapes are cultivated, and vast hearas of cattle
raised, but it skirts all the celebrated mining
districts OF New Mexico. These mines arc so
well known that no description of them is nee
essary They will, Immediately that the road
touches them attract a large population
At Fort Yuma it will cross the Colorado
Steamers already ply to this point from all the
cities Of the Gulf of California. This division
also skirts the northern border of Mexico. and
will receive the trade travel and mineral pro-
ducts of the northern States of that republic,
with their present population of about two mil
lions, and an exporting trade, the transporta-
ton OF which is estimated by competent judges
at not less than 81, 100000 annually. Touching
El Paso, the road will control the trade of Chi
hlahra, which has a population of $3.50, 900 and
abounds in mineral wealth. Touching Tucson |
it will control the trade of Sonora The saving
effected to the Government in the cost of trans
pOrtatlon OF military munitions and supplies Oh
AS miles OF the Kansas Pacific amounted in
gear to more than 81 ,090 900, or over 81, 900
per mile, 1t has been satisfactorily shown that
a proportional savn. quite as great will be eff |
fscted by the completion OF a road to the Rio |
Grande and thence to the Pacific. General |
Sherman estimates hat the construction of the |
Texas Pacific would enable the country through |
which it passes to be protected with half the |
number OF troops now necessary, and would
save the Government SIS, 900, 900 annually. As
the road is pushed forward the Government will
use it for military transportation and postal |
ha will ba
placed to its credit ON the interest ACCOUNT
Taking into consideration all the sources |
whence it Will derive revenue it can not be |
doubted that its earnings will pay the interests
Of the bonds and relieve the Government of |
any expenditure OH that score.
This is the whole case i'll a nutshell. It is T
presented to Congress by the united CONNER
cial interest OF the South. 1t is urged by reso-
lntions of the Legislatures OF Texas, Mississip-
pi and Missouri by memorials OF the Cotton
Exchange of New Orleans, andtle Chambers
Of Commerce OF st. Louis, Memphis, Richmond 7
and Nashville; by petitions from the Boards of
Trade OF Louisville, Atlanta, Macon and ALT
gusta; and by the unanimous action of the
State Oranges of Texas Kentucky and Mssou- |
Ii. Every Southern interest requires it. 1t |
will build up or entire railroad system. 1t |
will pour through our veins a new and enlarged |
current of commerce. 1t will put lis on a level |
with the North-west and help to eqllalize the |
eIoitilolS uiSpIcportlol ol OoVeTilineut assist !
ance. There is every reason for it and not ole |
against it, and the South looks to it as her |
surest road out of the financial enlbarrassmcnts |
i'll which she is involved. In representing the |
sentiment and interest around lls-a
weighty and practical influence which watches
the issue closely-we have spared no pains to
inform ourselves accurately as to the bearing of |
the measure, and have given them in the fore
going statement, which may be relied on in
every particular.
Another Tribune Lie Nailed
WORCESTER, MASS, Jan. 22.-The Spy to-