The weekly clarion. [volume] (Jackson, Miss.) 1863-1882, 1876-01-05


ton OF our youth, have contemplated such
an Investment!
The first mortgage bonds, proposed as
collateral security, cannot De deenieu "a
much value: for other first mortgage bonus
70 the amount OF some ten millions ($lO,OUO,-
o00l may be issued. In fact, the law places
no restriction upon the amount OF such
bonds.
The experience of the State, in aiding
railroads with its trust funds, has not been
OF such A character as TO cause It's tax pay
ers TO contemplate the enects OF THIS Ia"
with any very lively satisfaction
In our reasoning as to the safety of this
investment, we should not neglect 10 con-
sider. should the law remain unrepealed,
the possible action OF some future Leg lsl'-
ture, when this company, IN Gays OF HuNcI-
sity. appears before it and pleads poverty
or misfortune.
The success of this road can in no wise
aeDend on the sum of $4,000 eXpecteI
from tue State, which, though iuslBnlncanI
as compared TO the cost of the ROAD, IS hlghly
important TO the state. To wlthhoiu IT,
cannot embarrass the ROAD or impede us
progress. However. if it should, then the
astocks' OF the Vickshurg and Nashville
Railroad cannot be regarded as SUe ana
the sooner the fact is known by the people
who are paying taxes in the interest OF The
road, the Deter.
We should be. il possible. more cautious
funds of the State, than with our own. Are
w. prepared, as individuals, TO invest our
own funds in this enterprise!
By the original charter, ana by the Acl
of January "a, 1872, heretofore referred 10,
the road is authorized to buy, without re-
striction or limitation, and all ITS property
and acquisitions, OF whatever character,
| shall be exempt from taxation for thirty
years, or till the road shall pay dividend
| of eight per cent. to its stockholders.
| Under such provisions, all the roads IN
the State can be consolidated, and their en-
| tire wealth, amounting TO tenth or hitb
| of the property of the STATE. would De eA
| EN- DIT from taxation. And this, too though
| only small section, of the road, in whose
| interest the law was passed. should be built.
| Who cannot foresCe that such "A corporation
would delay for many year the announce
ment that the stockholders were to be paid
| a dividend of eight per cent, ana with such
announcement expose their millions To lax
| alton.
Railroads, when friendly to the people,
| are of inestimabe advantage, but when used
| 10 Cypress them, are quite the reverse. Let
| this law stand, and there will spring from IL
corporation, which, il ruled by the spirit of
| the Legislation, which gave il birth, Will
! sooner or later, blight, if not destroy every
other interest In the State.
| The State should protect itself now, when
the task is SO easy, and not leave it To the
| people, at soma future day, when outraged
| and indignant, to rise in their wrath aud
show that what they create shall not be SUI
| perior to themselves-the creators.
The la v, which eXempts the property OF
this road from taxation, is, in my opinion,
unconstitutional. The Constitution reads
AS follows: "The property of all corpora
tions, for pecuniary profits, shall be subject
| 60 taxation, the same as that OF an mdtVid-
ual." 1t seeks to accomplish by indirec-
ton or evasion, what is so plainly forbidden.
The people who adopted the Constitution
and bear the Burdens of supporting the
government, will never consent TO such a
| fragrant violation OF il. lfany are 20 be re-
leved from taxation, let it be the poor rath
er than the rich and powerful.
All doubtless are in favor of Internal I'M
prOvements, but no true friend of the state,
or OF progress, can ask that unwise and un-
constitutional laws shall find place IN our
statute books for that or any other purpose.
A commercial necessity must breathe lie
into all enterprises for pecuniary profits,
and that road which depends solely on State
| and county subscriptions, and is undertaken
with money borrowed thereon. euticing no
other capital, must be of predetermined sue
cess.
There is an attempt to make it appear
that this investment is contract; that the
company receives it as a grant! Is it
grant? Are we giving this sacred fund
away?
On the contrary, the State accepted it
with the understanding that it would not
do SO She is honor bound not TO do 80.
w e can DuL lllNGSb II. anu the invest
ment in this road should not put the State
under obligations t. it, more than she would
be to the United States, or other States, were
the funds invested ia their ~tock-.
The road can regard IL bIt rs loan. IL
is required {" civ" ~rUuri iu- and additional
securities ln4y he d,maud' Il It amy time.
And were The laV relative 1 q this railroad
deteclivr in % oth pIrieuiar. iC would be
incumb ut on the state. ~ is lea-t duty, To
demahd tuli AMI sufficient securities.
II i 81 r-ttt ht IN fitfz ln
the rrl utttion of ihe s ATE. noe now too
good, Will ~ -till further Injured. The re-
peal 81 nav and uucous ti.utiplHl Laws, iu
the isttrr"-t OF the whole people. and in
harmony wiki the previously p!ighte faith
of the Stnt" must be fir more 10 nrr credit
than il would be 10 lci such laws stand.
pregnant as they are, with 50 many evil
consequences.
also cali your attention 70 the case of the
Vicksburg aud ship Island railroad. This
road r. ceived. over two years ago, upon the
construction OF eleven miles, a State subsidy
OF $4,000. The road neglected TO pay the
interest due on this sum rs required by the
law. Little, if any, progress has been
made on the road since the completion OF the
first eleven miles, Because OF or deviation
from its charter the payment OF additional
Su bSidits has been suspended, and the ques-
non prac lcally, as to such payment is be-
fore the courts. a compromise has been re
duested by the road. but as a large amount
of money is involved, have deferred ac-
ion. prefcrring to submit the case to the !
Legislature, which alone may be able, by
legislation. to save the people from the ad- !
ditional taxation the further payment OF the |
subsidy may impose, or TO obtain security |
beyond question.
EDUCATION.
Neither arguments nor statistics are nee !
essary TO make known the great extent Of |
iliteracv which exists i'm tie State. IL Is as |
much the duty OF the State, as it would b, /
II tn of l.4fn ,raI...
this particular. Much has been done al |
ready, but the State is more capable at this |
time, since the amendmen: of the Constitu-
Llon. TO extend its aid and fostering care
BY that amendment, moneys which would !
have been locked up as perpet-
ual fund, can now be applied to educational
purposes, year by year, as they are received
This will permit of the building OF addi-
i"IaI school-houses, the employment of
The best class of teachers, and the extension
Of the periods of instruction.
Inc prosperous condition Of the finances
)t the State is such that, with the slightest
Effort school facilities can be extended 60
very child. But, unfortunately, ipnornncp
with its lack of appreciation. too often re-
uses TO take advantage OF the educational
which are presented 10 |
this obstacle, laws should be en-
Icted and enforced requiring The attend
nee OF every child for limited period Of
ime each year. Money and labor eau never
'e more beneftcially expended in the inter-
st of education than now.
PENITENTIARY.
The total number of oonvicts In the Pen
tentiary, as shown by the register, s.....5I3 !
he average number within the walls during
:,
he number leased out...................,,37 3
he number received in 1874. 236
he number received in 1875. .373
)eaths In IS75...............l. 90
he number of serviceable cells........,...I75 =
While it is admitted that the only proper
lace for cOnYicts is within the nrisnn u,nil