Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1877-01-16
TVr TExAs AND PACIFIC RAILROAD.

Mr.. Atkins htroduce u OH ias' s0
sion providing for the construction Of
the Texas and Pacific railroad from its
preseut terminus at Fort Worth to San
Diego. The bill was only partially per-
fected by the committee to whom 1t was
referred. Meantime new surveys have
been made and a compromise has been
effected between the Scott and Hunting
ton interests, by which it is arranged
that the Texas and Pacific road shall be
built from its Forth Worth terminus to
a point in New Mexico, one hundred
miles west of Rio Grande, at FL Pass.
while the Southern Pacific company is
10 continue its line from its eastern ter
minus. Indian Wells, to Fort Yuma, and
thence eastward TO a point OF Junction
with the Texas aud Pacific. 1t is also
TO- build a branch from San GorgoDia
Pass southwesterly to San Diego. The
Southern Pacific is to construct the nm
finished portion of its line between San
Gorgonia Pass and Fort Yuma without
government aid, but is to receive the
same as the Texas and Pacific for that
NORTON of ITS line between San Gorgonia
Pass and San Diego, and between Fort
Yuma and the point Of junction with
the Texas and Pacific. The house com
mittee has agreed upon g bill known as
the Compromise Texas Pacific Rail-
road Bill" which is very rigid in its pro-
visions for the protection Of the govern
ment and the interests Of the public. 1t
forbids ali combinations between the
Southern Pacific and Central Pacific
companies, aud requires the Texas and
Pacific and toe Southern Pacific to pro-
rate with each other aud with all other
roads mentioned in the bill, including
the branches forming connections With
the lines centering at Galveston, New
Orleans, Vicksburg, Memphis, and points
further north. Every p%reeautlon is
taken to prevent this tran%s-continental
line from becoming a monopoly, or IN
any way discriminating against any in
terest or locality, and it ia to be forever
maintained as q government highway.
The government only guarantees the 1--WE
per cent. interest on bonds to be issued
by the roads. It is to be in no wise re-
sponsible for the principal Of the boads.
To secure the government in making
this guarantee of interest, it is author
izsd and empowered:
First--To reserve the entire amount
OF government transportation, whether
for troops, munitions Of war, sIpplies,
postal facilities, or any other matters
incidental to government transportation,
as we'll as all t~elegraphic communities
tons OF the government.
Secondly - To reserve the amounts
received from all sales Of lands granted
the companies, either by the government
or By the State of Texas, which are 30 be
paid into the Treasury of the I ited
States.
Thirdly-All Of the net revenue Of the
company from its general business with
the public which, in addition to the fore
going revenues, may be required TO place
the Unite1 States Treasury in funds GU
the maturing of each set Of coupons,
shall be put 10 the Treasury OF the Uni
led States for hat purpose.
Work shall be begun at both ends Of
the Gan Diego road at the same time
The bill seems to reconcile all dider.
enees heretofore existing between rival
inlereste, without in the least impairinG
rights heretofore held BY States, com
panies or individuals. There seems tC
be a strong and a growing probability
that it will pass, which would insHre The
opening Of this route to the Pacific il
from four to six years, and thus ereatitl
new and grand possibilities for the noV
impoverished South, as we'll as benefit
ing the whole country, and uniting thl
North sod the South by new bonds 0
eommo, interest and sympathy.