The New Orleans Democrat. (New Orleans, La.) 1875-1876, 1876-02-22

OF the people, If it cannot secure fully
their liberties. seE .b4ir
THE NEW ORLEANS PACIFIC RAILWAY.
We print this morning q communica-
ton from the President Of the Property
Holders Union, in relation to the pro-
posed act of the Legislature authorizing
the City Council to lay q tax upon the
property Of the city to aid in the con-
struction of a railroad. The policy OF
subjecting the property interest OF the
community to the mercy OF a popular
vote is certainly erroneous and calcu-
lated to lead to serious evils. In much,
therefore, that our correspondent says,
we can concur. From the views express
ed in the following paragraph OF his
communication, however, we dissent:
The failure Of this company to induce capital
FATS to embark their capital In this road Is
strong presumption. almost amounting to abso
llto proof that il is moi likely to be re,nuneratipe
as an Investment and therefore ,ciA not contribute
10 The prosperity 0f this people. md OF cOnse-
uuence the imposition Of tax to aid I'm its con-
struction will not only be wrong against prop
erty but will be attended with no advantage COM
mens,lrate with the amount exacted from the
people. irI t -
II this be true, then we must conclude
that no enterprise in Louisiana cyn be
made remunerative; for 1t is impossible,
Just now, to induce capitalists to venture
large investments in any Of them. The
difficulty in inducing investments In
Louisiana enterprises Is due to two
causes, and neither Of them Is that the
enterprises ''are not likely to prove re-
munerative." Indeed, we think there Is
no State in the Union in which more
profitable enterprises might be started
than in Louisiana. But the character
of our State government promises no
protection to property, enterprise, or
life It is we'll known that the govern
ment has not the authority Of law; that
Il is a usurpation, antagonizing the best
interests of the State; that its courts
are corrupt and may be bought, and
that It's heavy hand Is only felt In pill
Laying the property and commercial in
terests Of the Commonwealth. Capital
lists outside of the State have no conf
dence In the government Of Louisiana,
and consequently they have none in
Louisiana enterprises, and they would
rather invest their money In other
localities at a very low rate
of interest. than here at a very high rate.
Kelloggism, in short, has utterly de-
stroyed all confidence in Louisiana in
vestments, and thus paralyzed our en-
terprises and industries. In the second
place, our own people are reduced to
poverty, and the largest property hold
ers and most extensive commercial firms
have not the ready means to invest, even
in works which promise much. In this
city, for instance, there are thousands
of people in distress, and there is little
or no work for them to do. Yet, the
voyager down the Mississippi will notice
millions Of acres Of productive lands
lying idle, and will see ample room for
the employment, between this city and
the mouth of Red River, in the profitable
culture Of cane, cotton, corn, rice and
tobacco, of hundreds Of thousands of
men. But where is the capital to sus-
tain the hundreds Of thousands Of toll
ers until their crops are gathered?
It is very true there are, as our able
correspondent suggests, store-houses
and tenements, without number, In this
city, for sale and for rent; and that the
rentals of property hardly pay the
taxes. But what is the cause Of this
fact? st. Louis and other cities have
built long lines Of railroads through rich
regions which once poured their pro-
ducts into the lap of New Orleans, and
| diverted from us millions OF trade.
st. Louis and Galveston have swept
from our grasp nearly all the immense
trade Of Northern Texas, Southern Ar
kansas and Northwest Louisiana. Valu-
| able as this commerce was, when New
Orleans monopolized it, it is vastly
richer now, and it is growing in impor-
lance every year. The construc-
ton Of the New Orleans Pacific Rail-
| way will bring three fourths Of the bust
ness of these regions back to New Or
leans, and thus do much to enhance the
value of property, revive our commerce,
| repeople the deserted tenements and
| raise the rentals. 1t will develop and
quadruple the trade of one Of the rich
est sections Of the State, and thus bene-
fit not only New Orleans but Louisiana
at large. If such road is not likely to
be remunerative, then there is no road
in the South that is likely to pay. Il
this road is not likely to benefit New Or.
leans and the State at large, and the
stockholders, then railroad building
must be fraud
We believe that sound principles OF
government require that no man shall
be forced to dispose Of any portion Of
his property against his will, and that
no burdens should be levied upon pro.
perty other than what are necessary to
provide for the economical and honest
administration of government. But that
this railroad will be of such benefit to
New Orleans, and Western Louisiana in
particular, and to the State at large,
and that it is to the interest of every
property holder and business man in
New Orleans, and the country it is de-
signed to traverse, to subscribe to its
stock to the full extent Of his means, We
entertain not a doubt; and If its able
and interchangeable President, Mr.. Wheel