The herald and mail. [volume] (Columbia, Tenn.) 1873-188?, 1875-09-17

principal object we had in view i
, building the Narrow Gauge-a compet
ing line.
We have no complaints against tn
Louisville Road. 1t has furnished us a
cheap freights and passage as any 9th
er road under the same circumstance
would have done. Nor do we think th
terms illiberal upon which 1t propose
to complete the Narrow Gauge. Oh
the contrary, they are such as mlgn
have been expected. We cauid not rea
sonably ask that Road to injure its owI
line for our own benefit. We W 'uld
however, regret exceedingly to see the
| Narrow Gauge pass into It's hands.
| But Marshall County and the Stock
holders along the line of the Narrow
| Gauge cannot be expected to sacrlnce
The money already expended. If they
| can do no better, they will certainly ac-
| capt the terms OF the l.. e. n. Road.
| This issue can only be avoided, in our
opinion, by prompt and energetic action
| on the part of MaurY County.
What, then, must be done? Shall we
abandon the road and sacrifice the hun
bred thousand dollars already expend-
cd? turn it over to the Louisville Road
and lose the advantage of an independ-
ent line? or shall we, by stirring our
selves, secure the requisite money, and
thus obtain all the adv antages for Maui
ny County of making Columbia COM
peting point?
The roadbed, as above stated, is
already completed, and the company
has sufficient means to purchase the
rolling stock. Nothing remains to be
done, but to iron the road. How this
can be done is the question. In cOnse-
quence of the stringency of the money
market, (resulting from panics, crop
failures, and want of cOnt1dence) the
iron cannot be procured at reasonable
price by the mortgage bouds of the road,
as was expected by it's original project
Ors. The combination of circumstances
" hlch has prevented it, is a contingen-
cy that they could not fOresee, and for
which they are not responsible. How,
then, can the iron be bad? Marshall
County has done her duty. Most OF the
properly holders along the line have
been liberal and have subscribed to the
extent of their ability. The city OF Co.
Iumbja, in its corporate capacity, has
alre Idy voted fifty thousand dollars; but
Maury County, the principal beneficial
ry, has rs yet done nothing. Now, we
propose tor Maury County to issue her
bonds for, say $125, 900. On these money
can be obtained, and the iron purchased
at very low price. TO save Maury
County harmless in the premises, the |
TOld might issue its bonds to Maury |
bounty Tor ike amount, as collateral
ecuriCy. The interest on these bonds, |
at per cont, would amount to $4,000 |
per unnum. The difference in the cost |
OF shipping 10, 900 b iles OF cotton, which |
would be about twO>thirds of an annual |
crop OF Maury County, would pay the |
whole OF this accruinE interest, and |
provide sinking fund sufficient To dis
charge the principal in ten or fifteen /
y ears. Our proposition cOntemplates
the issu Ince OF enough county bonds to
iron tue road from Mt. Pleasant to Lew
isbuIe, Marshall County. We under
) and that the stock mas already been
subscribed tUextend the road from I4ew~
ishurg To Fayetteville, thus giving us
c ,mnunication with the n .,shVille and
Road on the east. It's eX-
tension on the west to the Tennessee
RIVER would Ue Il ques ion OF only
very short time. To secure the IL
me rse resultant advantages, is worth
very determined effort.
the danger of having very large
portion OF our trade d.Verted from us,
lbs improved value O. lands and pro-
luciions, in consequence of competing
ines OF transportation, and he neceSSiN
y of securing tho full benefit of the la
lur, cine and money already expended
upon the rOad, imperatlVely demand |
hat M5ury County be up and doing.