Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1875-11-20


OF tobacco, while many of The northern States
are not, and this product for this reason has
been Disseminated against. Under the pres
ent system Virginia alone, in her impOveT-
Ished con dition, accordi ng 10 the report of the
commissioner of internal reN enue, paid 3d.,
670,S2 more internal revenue tax last year
than all six Of the New England States | do
rot state these facts for the purpose Of arOus-
ing any sectional feeling or prejudice, but To
awaken the south TO the fact that sh3 is not
likely to obtain anything unless she at least
asks for IL.
THE COUNTRY IS IN DEBT.
The friends and supporters OF the Unioa
AMI Central Pacific monopoly cry: 1.-The
country is In debt" and cannot even for a
laudable and necessary public imp Ovement
afford TO as 'ume, even the remote OOntingen-
gency, Of paying the interest on the bonds TO
be used in the construction OF the Texas Pa
ciGcs The truth OF the matter is, that this is a
great country, and few people know how fast
IL Is growing. From the year 1870 to the year
1870, the increase of population in the United
States has been very uniform, averaging dur
ing the period stated over thirty-three per
cent from one decade TO another. In the year
1900, the date at which an amount equal to
two per centum of the bonds then outstand-
ing iFto be first collected, at the rate of in.
creage for tbs past eighty years, will give us a
poESilftis1 Of 108 Dos $50. When England began
to s8sn her s4redit to aid in the construction OF
railroads, her debt was So 9l5, ,000,0 ,000 making a
per capita debt OF Sl30 40 to every man, woman
and crild in the kingdom, and the expenses
of the government amounted to S469 900 900 per
annum. Notwithstanding this, she guaran-
teed S440,OOOOOO 10 build cotton railways in
India, and S6O,0O0,c00 to build railways in
Canada. When France began to stimulate
railroad enterprises, her public debt was
g. 206 0C0 900, making per capita debt of S59 IS
to every man, woman and Child, and the an
nual expenses OF the government were S5l5,-
100000. Toe liquIdated and uhliquidatf debt
of the United states is about 5000 900, 600, and
tEe per capita Is not far from $50 per head.
with our proposition. We do not propose to
increase the national debt or repIete the
treasury of the United States. We are not
advance bonds,
money. We simply ask that the gov
ernment indorse the bonds OF the road
tect it from loss for so doing We simply want
public recognition, and the msntle OF the
nations credit 10 bsck us. We want to borrow
its credit, because 10 is good abroad, and we
ask the loan thereof, because congress ought
to and does know more about the possible and
future earnings of the roads than any combi-
is that the country has gone crazy over the
payment of the national debt. There is such
and we are suffering from an idiosyncrasy of
that kind now. At the close of the war the
liquldstei and ~ unliquid@ated Zig G6 ate debt of the
far from 81 200,0O0 1t has been reduced within
ten years over s. ,OOO0 100000; England was forty
oSse oSe6o A England % reduced he 6er Tg0' Sie debt
at the rate of s. 100000 per annum,
and we of the United States at the
due and the payment was necessary to save
the national credit, some excuse might be
offered, hutit is not. In the accomplishment
of this feat a nations industries have been
paralyzed, and its laborers driven to the
brink of beggary. Trade is prOstrate, conf
dence unsettled, and the manufacturing in.
terests Of the country at standstiIl. General
Grant said, "Let us have peace" but what we
want is some one to ''give us a rest" and let
the country recupeIat ate. France succeeded in
paying the indemnity assessed upon her by
Germany, within very short space of time,
just as we have been paying our national
debt, but have yet 10 hear OF the man that
thinks 1t made France any the richer. The
public debt has nothing to do with this enter
prise, only in this, that the rate at which the
payment is being made is onerouS and OPP
presstve, and the people will be 10th to 40
anything or favor enterprises which
may by any possible chance add 10
their burdens. have no doubt the friends of
the Union and Central Pacific would vigOr-
ously recommend postponement of the
building of the Texas Pacific until our green
backs, bonds and national currency are all
paid in specie. The press OF the country-I
mean the Independent press-of c. urse will
be subsidized by the bondhoiders, st ockhold-
ers and managers of the Union and Central
Pacific roads, and you may look out for more
good, solid lying and Misrepresentation Tor |
The protection OF q monopoly than is of en-
seen by the average man. You will be told |
that the Southern Pacific road is a scheme of
Tom Scotts to rob depleted treasury and
tax ridden people of one hundred million
dollars and not build one foot OF road. This |
they will do in the face of the fact that no
bonds are or can be issued until the road
is built and fully equipprd. This
they will do Notwithstanding the
single dollar. They will assert that un-
der the bill the government is asked for a SUBJ
sidy of thirty-dve thousand dollars per mile
for three thousand miles of railway, under the
pretense of building a southern railway to the
Pacific, and that the principal and interest is
to be taken out of the treasury of the United
States, handed over to Tom Scott and divided
among the members of congress who vote for
the bill, and before the thing is over will un-
dertake to prove that there are no southern
States, and if there is one the people residing
there are opposed to having the road built.
THE GREATEST ENEMY.
The greatest enemy the friends of this meas
ure will have to encounter will be the intiu-
ence of The Union and Central Pacific roads.
These are both large, influential and powerful
corporations, managed by as shrewd men as
can be found in this any other country.
But the matter of opposition will not be
found in these organizations alone. The con-
Meeting lines of these roads east of the Miss1s-
named. Nor does it stop here. The bonded
debt of these companies is over $780,
SSE a0d is s n6 to day b a6oT9 PaF f.
equals its bonded debt The stock is quoted at
about sixty. five cents on the dollar. The
bonds and stock of these two companies prob
ably aggregate three hundred and twenty
million dollars. This is an immense sum of
money. The moment you attempt to make
these bonds and stocks less valuable, by the
construction of a conn mpet1ng line, that mo-
ment you array the holders Of these securities
against you, no matter what the merits OF
your enterprise may be, and no matter how
much the public may desire and demand
| cheaper freight and facilities of travel. Mo
nopolies never yield up any thing until forced
| 10, The owners OF the bonds and stock of
| these roads know just as Wei as you and do
| that a road with but thirty five thousand dol
| lars per mile mortgage can carry FIRE ght at a
| loss rate than those carrying debt of seventy
Que thousand five hundred dollars per mile.
twill not do to under estimate the influence OF
| the Union and Central Pacific roads. A corpo-
ration whose friends were strong enough In
1872 to have a plank incorporated in The plat
forms of both political parties of this country
| whereby candidates
| pledged against any further AID or grants to
| railroads Is not an enemy which can be lg-
| nored. These gentlemen took the subsidy and
| built their roads; but no sooner was this done
| than they undertook the task of manufacture
| ing public opinion against further extension
| of government aid. No sooner were the roads
| completed Gnan they commenced hedging TO
| protect their monopoly. The public prints OF
| the country, after the road was built, all at
| once discovered that congress did a very
| questionable thing when it aided in the con-
| struction of railroad at all Suleuyy DMuI M
| with apparent earnestneSs, the organs OF the
| Union and Central Pacific railways COM
| Inenced the work of prejudicing the pub
| lie mind against the system of government
| Subsidies The projectors, directors and man.
| ayers were ali denounced as thieves of the
| first class. Under the guise and pretense of
attempting to provide against the repetition
| of wrong, but The real object of which was
TO make monopoly stronger, journals In the
interest and pay OF tne Union 9 and cent GenIIal
able number of people into the belief that a
very great wrong was perpetrated when con.
| gr6SS COES SoQVeQ W Tue OulOu anu O0uL- dl
| Pacific roads, and that another is about TO be
| perpetrated. The extent aud power of these
| corporations is beyond the scope of the un-
| SOPHISTICATED mind. Washburn, OF WiscOn-
| sin member of the fOrtieth congress, in
| speaking of the power of these corporations,
| said: "EVery intelligent member of congress
| knows that any company representing SlOJ,-
| OOOOOO can defeat any legislation that may
| ever be sought here, in the interest of the pub
lic." Whether Mr.. Washburn spoke OF those
things whereof he had personal knowledge
| / do not know. Be that as 1t may 1t is evil
dent he had some idea Of the influence OF the
corporationS he was speaking OF. Those OF
YOU whose duty 1t will be to urge the atten-
lion OF congress to the matter now In hand,
long before success crowns your efforts, Will,
| by experience, learn that Mr.W aShburn spoke
| truthfully, il not prophetically, when he said
| these mpanies could defeat any legislation
| a southern Pacific road is a thing "ln the In
| terest of the public" but of late years the
northern mind, in the conduct of public al.
| fairs, has made outlaws of both the late rebel
| and the present carpetbagger. When lney
| speak of the public good or the public welfare
| our wants aud condition are not thought OF
We think we are somebody, and a power In
the land, but to convince others OF II we will
have to make ourselves felt.
HOW IT IS TO BE DONE.
, How is 1t to be done? is the question which
: naturally follows the announcement of this
proposition. 1t is easy enough, If the south
will only be true to itself. The policy Of the
! national government toward this section d
) the country has not been OF q character 10 re
! suscitate It's industrial or material resources
| for the'past teu years nor has 1t been OF sucf
3 | a character as to leave this section OF the
2 | Union in a condition to compete with th'