The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-11-25
roorrrruxp FROM Y1as7 pAaE.l

snnronriated in the Northern States and TIE
yitories since the organization of the Cover
ment there have been but S19 900, 900 e,
pended in the Southern States and Terrific
ries. Because not only will the road be
means of national defense, strengthen th
military arm of government, and at all time
perfect the security of our Pacific coas
duce the expenses of its local admir-
istration, bind our country more closet
together, facilitate communication with tn
Pacific and with Old Mexico, develop ne'
traffic, and the agricultural products AM
great mineral wealth of Texas, New Mexic
and Arizona, but it will also, by the deman'
for manufactures and productions OF all de
scriptions, including iron, steel, cotton
wool, timber and other Material needed IN tn
construction of engines, cars, bridges, ma
chinery, buildings, ETC., for the use OF tn
road, and by the Iaborers employed in build
ing and maintaining the same. give employ
ment to furnaces mills and machine shops o
the country, and once more revive and stlmu
late the depressed industries OF all sections
and
Whereas, to secure to the government and
people these several advantages and in addi-
ton thereto, to secure return to the people Of
10000, 900 of acres OF land heretofore granted
TO build the thirtieth parallel line, and save
the building of 1900 miles of road, 1t is the
Judgment Of this convention that it would be
not only right but the duty of the National
Government to render such aid properly Sc
cured, restricted and guarded, as will secure
the prompt completion of the line referred to,
and such extensions as will give to all sec
tons the advantages resulting therefrom;
therefore, be it
RESOLVED. l. That a Southern line to the
Pacific Ocean should be built on or near the
thirty.second parallel, from Shreveport via
Ell Paso to San Diego, where it will make
connections with the waters OF the Pacific In
safe and excellent harbor, and connect also
with the railway lines now building from San
Francisco to the Southern part of California,
thus securing continuous line to that great
city and port.
8. That there should also be constructed
extensions from most eligible points of the
Texas and Pacific Road to New Orleans, Men,
phis, Vicksburg, and from point near the
lO3d meridian to Venita, in order to reach
the Mississippi River 10 connect with every
road and harbor of the Atlantic coast and
with every railroad east of the Rocky Noun
tain slope
3. That to insure to the nation the great
est benefits from this line of road and to pre-
vent its being controlled in the interest of any
part or section of country, there should be
established such regulations as will maintain
open highway and as a competing line to all
trans-con,inental railways, to be Used on
equal terms by all connecting roads which are
now or may hereafter be built, similar regu-
lations to be applied to branches receiving
similar aid to the Texas and Pacific Trunk
Line.
4. That it should be built at the lowest
possible cash cost in order that the people
shall be protected against undue or oppres-
zl~1ll H. nd rfrv
at the lowest possible rates required to pro-
tect the comparatively small capital actually
expended on lis construction, result which
can be greatly aided by its construction at
this time when material and labor can be Sc
cured at prices much below those that have
prevailed for many years past, and that Con-
gress shall at all times reserve the power to
protect the people against speculation ando
preston in the use of this national highway.
S. That the building of the main line should
proceed under such regulations as will insure
the construction of good road continuously
from the point of its present completion in
Texas to San Diego in California, until 1t
meets an extension of the same line from San
Diego.
G. That the construction of such line and
branches can he best secured by the extension
of government aid to the line and branches |
heretofore mentioned in these resolutions, in |
the form of a guarantee of interest, not prin- |
cipal, on limited amount of five per cent
construction bonds, payable in fifty years, SO
that the entire liability assumed shall not in
any event exceed $4,000 per mile per annum,
nor the interest on the actual cost Of
the line and said branches. Such liability to |
be secured by q first mortgage upon all the
railway property and franchises of the COM
pany, and upon the lands granted by the
United States; and any deficiency in the
earnings of the line and branches to meet the
interest maturing on these while the read is
in course of construction to be met by the de-
post in the United States Treasury of one
eighth of the whole authorized ISSUE and the
sale of the same, if it becomes necessary after
applying all net earnings and proceeds of
lands and the sums due for Government
transportation, mail and telegraph service, to
meet the interest so maturing as aforesaid, so
that there shall be no outlay by the
government-these bonds to be issued only to
the actual amount Of cash expended upon1
the road and branches, and upon the certif-
cate of sworn commissioners appointed by
the government to supervise the building OF
the line and branches, and their redemption
at maturity to be assured to purchasers and
holders by providing sinking fund out of
revenues of the road and branches, to be paid
by the company into the treasury of the
United States, of such amount as may be suf-
fcient to pay off and discharge the entire
bonded obligations of the company on which
the government has guaranteed the interest.
z. That the President of the Convention be {
requested to prepare an address to the people
of the United States, embodying the views set F,
forth in the preamble and resolutions adopted /,
by this Convention, and that he be author
lied to appoint committee of thirteen who,
with the President Of this Convention, shall !
present an engrossed copy of the proceedings 6
of this Convention, together with the address
to the President of the United States the pre- |
siding officer of the Senate, and the Speaker |
of the House of Representatives, and to take
such further action as in their judgment may |
be deemed best to further the objects and pur- |
poses of this Convention. Ia
Other resolutions, providing that copies Of
these resolutions be furnished to the Govern
ors of States, the Mayors of cities, and the
commercial and other bodies represented in
the Convention and that the secretary have
the proceedings published in pamphlet form,