The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-02-02
rnE rfx.s PACIFIC RAILROAD.
synopsis Of tho Hspsrt Of the HoHse Csm'
miftee I'm Favor Of the Bill.

/ miitec In favor Of the Bill
| The following la synopsis Of the msjori = re-
port on the Texas Pacf6c Railroad prepared ~
Col. Lamar III chaitmsn:
The b II relieves the company from the conse-
quences Of their failure to compl to tho sslpu
lated portion Of the road, and furnishes hem
with certain aid iu the shape OF q > tiirantes 81
the interest on their bonds The report states
that ths failure 10 complete the r. qu red portion
Of the road was due entir' ly TO the universal
fuancisl panic OF 1s73 snd not at all TO an mis-.
management the part OF the Company, and
Uught not to deprive them Il any aid whtc
under other circumstances, tho government
might properly give. The questions properly be-
| tore tne commi tee were.
| Fist--Whe her Congress has the coustlto-
| tonnt power to grant such aid.
| Second-Whsther 1t Is The interest II the whole
| country that this aid sbonli be granted.
The COMMITTEES arc OF the opinion thst the
constitutional question may be considered ne
ssttled, both by the action OF tho government 10
afordiug aid to oher Pacific roads. thus estabr
| lish ng q system of Pacific connections, of which
The Texas Pacfo !, . neoessars and component
part, and by the fnll declaration OF ths public
ointment OF both tho great political par res as
declared In their respective platforms as far back
as the Presidential election OF 1860
1 he committee arc al 0 Of opinion thstas the
Northern Pacific connection hns been completed
| and supp rted by government aid, justice both
TO the south aud the whole country, requires
that tho sy tenn shall be- completed on the same
Dr1DcAU5 until 1bs penenbB I6alIY e&b6Nu6u 10
all SECTIONS Of the country.
The com mittes do not entertain any doubt OF
ths right and power Of Congress TO afford ts aid
TO O road which In an absolute military snd postal
necessity. and which Simply enables ~, by the
loan Of it's credit, to accomplish work which II
would otherwise have TO finisn at it's own expense
and by tho drec exercise ot It's powers.
The committee think that the great G nnmsree |
between the Atlantic and Pacific coasts s scare ly
TO be considered as an utter State commerce |
merely. bus rather assimlates to that vast ocean
commerce, in the care and protection OF whsh |
Congress has never hestated TO aid ocean ssaan- |
ers, 70 make ocean surveys and TO establish |
lighthouses, and they agree with the opinion t1~ |
pressed by Mr.. Hunter, Of Virginia, tha IL would
weaken the great principles OF Sttte rights 10 /
attempt TO stretch to Cases which they DO not /
cover ~ right reason, aud where the obtrusion I
I 1Rch considerations only seem 10 lack the |
cornmon sense OF mankind But tbs committee |
fully agree that the conditions Of this aid /
must guarantee the government against
sacrifice and the people against the sell |
fish exercise OF the privileges which this |
aid confefes. They think the provisions of |
the bill secure these ends. The guarantee given |
is ~ the guarantee Of The interest OF the bonds
which are issued only as ths road is completed, |
and the Dittee sstim 4te ihss from pr per and
reliable data tley can assume that as net earn
log OF $500 per mile will meet that Interest," fhs
profits OF The road will be largely more than su-
Gent to meet the interest and prevent any actual
necessity for the advance OF dollar from the
Of the roads, the sale Of lands and the res rye Of
5000 per mile of bonds in the hands Of the goy-l
ernmsnt are further and ample security. ~
The provisions wing equal rights OF freight
and passage to all the branch rJads, and Inc
power reserved carefully to the goverOment TO
revisw and modfs all charges, are, the commit 60
th X, full security against the conversion OF the
privileges OF the road into a selfish and mss-
chievous monopoly.
] he report then proceeds in detail 10 state the
line Of route. the length OF the road, trunk and
branches, Whist has been bnils. what remsas 10
be built, a calculation Of probable c. st. of probse
bic gross and net earnings, and conclu les BY
forcbs and tlJquent statement Of he general
advantages and vast n.tional importance Of tbs
enterprise and it's benafcent Influence 10 devsl-
oping ION hern resources; in the stimulus, by
he exclu i've use of American irJD, 10 our mau
uf ctures; IL the supply of work az wages 70
thousands Of skilled and homes lsborers who are
in d. situtiou; 10 it's general relief from the
painful contition Of iudu trial stagnation and in
the r. s'oration Of confidence and hope to the
national spirit Of oar whole people.