Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1877-11-15
1uuuh uuthNtd Ny tub huN ~ -
linois Central railroad, 1855 ,053 acres.
For publio buildings in Chicago, for
Equal 70 a total Of more than. $1,000 90 Z

Equal to a total Of more han~.sle.0t0.OO 90
After all this the two senators and
ninetsen representatives from Illinois in
congress will be ready to cry out no sub
sidy and fight the Texas and Pacific rsil-
road bill as though it we're a corrupt
scheme which they could not share. Il
is late in the Day ior the North to OPP
pose government appropriations 10 aid
public improvements. The only trsus
continental road we have vas built at the
expense Of the nation, and the men who
y and run that are building another
one, aided By the government, to reach
the Calf Of Mexico from San Francisco,
and thus gir3le the continent and be able
to dictate 10 toe merchants on the Allan
nc and on the Pacific. They will then vir-
iuslly hold the commerce Of the country
il their grasp. and make all the indus
tries, tie labor and The enterprise Of the
county mbserTient 10 their svsricious
and ~tyrsnnical will. This will be white
slavery, compared TO which It's colored
predecessor will shrink into insignih-
canoe in the eyes Of the world. The
present extension Of Huntington's road,
which refuses TO pay interest, il done at
government expense. For every mile
built an enormous subsidy is received in
the shape Of land grants. The position
taken by Northern congressman and pa
psr5 ~ extremely selfish and sectional
The North has had the lions share and
the great power Of the financial ci;ies
will be brought to bear to prevent any
legislation that would benefit and deyel
op this impoverished section. The Cou-
rier-JournsI Of yesterday, in a welleon.
sidered article, comedies with the views
expressed in the LEDGER yesterday and
heretofore. 1t says:
The railroad monopolists who control
the only trans-coDtineutal route, and are
trying to build another to make their no.
nopoly eternal, are loud 10 their cries o.
mo subsidy for another liue." Having
been subsidized to the extent Of an hun.
dred millions themselves, they dread Z
competing line which will destroy tbei
monopoly and break their power TO dis
tress shippers. That competing liut
which the monopolists feaF is the Texa.
Pacific railroad. g
One would think from the apparently ey
treme horror o. certain Northern journal
over "aubsidies, that the thing was
perfect novelty 10 this country, yet It ma
be observed that these very journal
have in the past fully indorsed the vas
subsidies to the Union Pacific and othe
Northern roads, and to.day favor th
appropriation of millions for local in
provements. The Texas Pacific Railroa
Company makes no such request q
that granted so readily to the Union an
Central Pacific railroads. The deman
made Of the government in the bill
that it shall guarantee the payment
interest on five per cent, gold ~ibtereg
bearing bonds, issued up 10 the rate
S35. 600 per mile, but not exceedir
$4,000, 600 between San Diego and Fo
Worth. 1t is provided that the bon,
shall be deposited with the treasurer
the United States, Endorsed with Il
guarantee, and delivered by him at 1
average Of SIC, 900 per mile, not excee
ing g, 500, 900 per annum, as the SC
tjoos are completed, on sworn statemen
Of cost. The security for payment is
fret mortgage on the whole road and
its possessions, and on the Is, 1000. 0
acres granted the road by congress, lyiI
in Arizona, New Mexico and Caliiorni
mortgages on lands gained by the roi
from Texas grants aud the retention
$1,000, 900 until the road is iinishe
There is no subsidy asked. The proT
sal is a guarantee Of the payment of
terest upon a limited sum, in return I
un~qoestionable securities. The gusra
tee will enable the bonds to be sold q
the road to be built at once. The cal
ings 0. the complete portion Of the 70
last year amounted to $4,000 per mi.
and when constructed through the ri
mineral, metal, pastoral aud agricultui
country named, with tho northern q