The New Orleans Democrat., 1876-04-19
THE NEW ORLEANS Pacific RAIL
EOtIb

Editor Democrat The Pacific Rail
road aud its friends are guilty OF the
greatest Inconsistency in argument. and
the friends of the proposed tax seem
utterly blind to most patent facts. and
animated solely by prejudice against
II certain class. | have talked with
some of the favorcls Of this tnx aud tho
whole gist OF their aim Is to force par
ties who own much property. but do not
live hero, to become unwilling stub
serbers to the stock Of this road. Yes,
Us more than one has said TO me. il we
can only mdhG these old hunks who
ne yer subscribe to anything. but have
their property here aud live away in
Europe aud the North, and draw their
rents and dividends, to spend it else
where If we can only make these shell
out to build this road. we shall be glad
of it,. Wonderful recognition. this. Of
the right Of u man to do what he
will with his own. If it is erimo
for u man To live elsewhere
and own property here. how can these
fanatics argue as they do ut other times,
and very eloquently. Of the necessity of
inducing foreign capital to como here
to develop our resources. Would ai,y
sane man bring his capital for invest
lnent Cor send it) into u State where. ut
any tune. it may be eoniseated by y
~
interest Of any specific corporation. the
creation Of the ring. Given that u
legislature has the power to give to
II majority Of voters the right To i'm
noso n tax of half per cent tor any frac-
tion Of u per cent? upon the property.
real and personal, Of the citizen and you
give the power to the majority TO inn
pose n tax of any per cont up to the full
value of the property upon that prop
a ht h.sf I,.e
right to dgpoBsess the real owner and
transfer it to any corporation II ring
may dictate to receive II. There Is no
escape from this conclusion. monstrous
as it is. And do these ralroaders for
ono inainnt imagine that capital will
ever seek Investment when IL Is subject
to such conditions
If the mere say so or the railroad in
eorporators nnd friends of this Illegal
| tax, that the building Of railroad from
/ Alexandria to Shreveport Is n public
work Of vital import TO this city. why
cannot iifty corporations. or one cor
poration. with u plant majority in the
! Legislature. u willing Governor. ready
| courts. and u purchasable majority of
voters. start fifty roads from different
points on the river where there il deep
water navigation to any fifty interior
! towns. and pHss tax OF one lpllf of one
| per cent per HHhuil. SHhlecL 10 lile mp
proval Of the purehasable majority Of
voters. and put it through all its stages
in fine atylo for the riug2 Can any Of
the friends of this tax give good rea-
son why this cannot be done? This is
the principle involved. Tho argument
that tho railroad will bring 300.0 900 bales
of cotton more to this port annually
may be u very good argument to induce
voluntary subscriptions to the stock.
but has nothing whatever TO do with the
I principle involved in this case. Though,
for my own part. with tho experience Of
this year, when we have already re-
ceiyed over 30O. 900 bales of cotton more
than last year. and our financial condi-
ton SO much worse, do not think it II
very strong one.
Still | favor the road and believe IL
should be built. that if built as origi-
nally proposed. II would become u great
source Of prosperity; that our people
are greatly lacking in foresight If they
fail to build II Still it must be built
voluntarily, If they won't do 1t, there
Is no righ'ful power that can make
them do it. The proposed tax is illegal,
vicious In principle. and an outrage
that will not be permitted by tho Su-
preme Court of the United States. y.