The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-05-25
THE CINCINNATI RAILROAD.

The Cincinnatians, 1t seems, have
slightly overcropped themselves In the
railroad line. They have sunk sixteen
millions In their famous Southern ROAD
without completing or making 1t OF any
value to their city; and company Is
now organizing to run the completed
| section for what they can make out OF
1t. The grandest results were antici-
| pated from the building OF this road.
The Legislature and the tax payers con-
spired together to violate the constitu-
tion Of the State to raise u fund through
illegal taxation for it, and crusade was
preached against every man who ven
tured to doubt that 1t would accomplish
all that was predicted OF it. Referring
to the press dispatches announcing the
collapse OF the enterprise, the Chicago
Times says:
Having built about hundred and fifty miles
OF rail DAD southwark into Kentucky At cost Of
about twenty million dollars, raised by mortgag
ing their whole city, the Cincinnatians are now
orr q niz ng company 10 operate the line. Most
Of the stock has been taken by leading business
men, and tho road viii be put in operation az
soon as possible. The cumpany get the use OF J.
without guaranteeing dollar Of rent, and will
probably have ell they can do to make both ends
4 their finances meet even on those terms. Ex-
ceedlugiy foolish things have been done in the
wss .ncurrng debts for the bent fis OF railroad
bu ldefs by many American cities; hnt there
is nothing on record, it 10 believed, thai
will fully match the sublime knavery and inc fable
folly OF this Cincinnati job The city is paying
milli1 dollars Of annual ak, more or less, upon
the cost of detached section Of abroad that BE-
gins and ends nowhere, and IL OF abou. as much
value as q feeder to the trade OF the town as Fix
| able bodied huckster carts would DO. When the
idio,ic enterprise Was undertaken, the State con-
| stitution was Dotorlously violated with the con-
sent OF the taxpayers and through the collision Of
the Legislature At the same time Responsible rail-
road off red to construct the entire line from
Cincinnati 10 Chattanooga Tor bonus equa, to
about two years int. rest on the cost OF the frBg
ment now 10 operation. This proposition didu'
| suit the pubic spirited citizens who had IT, Job
| In hand, however, and for the fret time III Ills
tory municipal cOrporsii III undertook the cou-
| Jour hundred miles beyond Its limitr. Tn,
| people fa,tered themselves that they. weuld a.
/ least own one railr DAD which would be run ex-
clu lively in the Interest Vt the city. In fact ss
the thing turns ont, it will be found that the
railroad owrs Cincinnati, and THAT the city will
| be run for the interest Of the b0ndhols ers.
The advocates OF the Pacific Railway
tax have referred to the action Of the
people of Cincinnati in voting this
Southern railroad sixteen millions OF
dollars as an example meet for those Of
New Orleans to follow. But on the very
eve of the election news reaches us
which destroys the force Of the argu-
ment or illustration, and indicates that
the Cincinnati people did very unwise
thing. It would, however, be unjust to
cite the failure Of the Southern railroad
as an argument to prove that the New
Orleans Pacific will not, II built, be
OF great benefit to New Orleans.
The failure proves nothing more than
that every railroad is not necessarily
public blessing and that the major
ity of a whole community, even OF
staid business men and taxpayers, may
be mistaken In their predictions Of what
o railroad will effect. One road may
| prove disastrous failure and another
q splendid success. Each enterprise
must stand on its own bottom, and
thinking men will judge each by its re-
lations to agricultural regions and trade
centres.