The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1876-03-22
A Road FOB THE SOUTHWEST.

A ROAD FOB THE SOUTHWEST.
On the 10th March Mr.. Atkins, who repre-
sents the Eighth District of Tennessee, made
in the House an exhaustive and powerful
speech in behalf Of the grant of an Interest
loan or subsidy in behalf of the thirty second
parallel railway, and in support of the bill
presented by himself to secure q connection
by rail between the Pacific and the Missis.
sippi River. The substance of his bill is q
guarantee of interest on the construction OF
first mortgage bonds of the road to the ex.
tent of $3.50 per mile, or at the rate of five
per cent, the government to be secured by
mortgages on the whole road, its equipments
and net earnings, as we'll as on the proceeds
of sales of lands heretofore granted. 1t
amounts to loan of the credit of the govern
ment, and an advance of interest money at
the rate of five per cent, the security being
ample.
The total amount Of bonds to be issued
would not reach $4,000 900, nor would the
interest reach $4,250,O ZOO. The government
would regain control of $4,000, 900 acres of
public lands, many of which are now idle, but
which the progress of the road would bring
into demand. The road will cost less than
$4,000 per mile to put it in running order,
and with cheap subsistence and the improve.
ments which are introduced in the construc-
ton Of railways, the cost will probably he
much less. Its location "below the snow
line and above the malarial belt, and its short
distance from ocean to ocean commends the
road and its vicinity to the favorable consid-
GRAFTON of capitalists, immigrants, travellers
and those engaged in the transportation of
the vast and growing commerce from the
islands and coasts of the Pacific.
From June 80, 1865. to June SO, 1873, the
United States Government expended for pub
lie works sos, 1894, SOL, Of which only s11,
6l2, O86 was expended in the sixteen Southern
and border States.
From 1889 to 1873. period of 81 years, Che
Federal Government has expended on rail-
roads, canals and wagon roads $104 ,705, 1853,
of which only s6,9S1, 1872 went to the same
sixteen Southern States. Of the entire $2O7,
999, 664 expended as above, the Southern and
border States have received only SIS, 594, O69,
while the District Of Columbia alone has re-
ceived s15. 52O.224.
This simple official statement from the re-.
port of the Secretary of the Treasury ought
to satisfy the representatives from those North
ern States and Territories which have had the
lions share of bounty from the general treas
nre, especially when they consider how large
part of the funds thus used in the North were
The proceeds Of the indirect tax upon South
srn productions. The sixteen Southern and
border States pay, perhaps, two-ffths IF the
Internal revenue taxes, and they furnish the
exports which pay for nearly half of all the
IMPORTS to this country from year to year,
hereby virtually paying half the import duties
which are perpetually poured into the strong
boxes Of the Treasury. Hence it seems pal
,ably unjust for Northern Representatives to
aise the hue and cry Of subsidy" when
he South asks nothing more than the tenn
'orary use Of the credit of the government to
he extent of few millions.
If six years be allowed for the construction
II the road and ten years be added, the
Utmost aggregate outlay by the government
or interest on bonds for the entire sixteen |
ears will be less than $25. 600, 600, and the |
'reater part Of this will be actually refunded
ut the saving to the government in the sup
'osed ten years after the completion of the
DAD could not be less than $4,000 900 per
mum.