The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-05-24
NEW ORLEANS PACIFIC RAILROAD


Edao, Denoocrat-Permit me once more to oc- |
cupy your columns upon tbs subj ct OF the above |
tax. 1t is admitted by every candid man I'll
this tax, any tax tor other than strictly govern
mental purp res, is an outrage upon the rights |
of property, vic ative Of principle and fraught |
with evil. 1t is also admitted by all intelligent,
honest and unpreiudiced minds, that suffrage, |
either universal or limited, has no light to con-
troll the disp stiou OF private property; and
hence, any tax imposed for other than strictly
governmental purposes 10 wrong, and the impo-
sition Of it by vote is dangerous outrage. But
this assault upnn property Ia persistentiy de-
Tended by the tyrants plea--the plea Of neces-
nty--under which more evils have been inflicted,
more wrongs perpatrated, more expressions con-
sammatt d, aud liberty more frequently stri ken
down. than by Ill he other devices and pretexts
to which designing men resort to accomplish
their ends.
entirely reject the plea of necessity; no bust
ness prostration however distressing, can jus ify
moral wrong or departure from the plain
obligations, duties and functions OF government.
It is beyond question the duty OF the advocates
# this road to establish bayond all reasonable
doubt that this road is an absolute necessity. I
maintain that not single argument, not single
reasOn, has yet been adduced to establish that
this road, If built by tax Imposed upon the city
| OF New Ofieaas, will be o. any advantage what
ever, still less necessity that would justify a
measure that re1ders ali property insecure.
The advocates OF the tax have failed to estab-
iish the necessity OF the road or that IL COM
pleted by tAxstion that it will ever be an adyan-
tage to this community. Now / msintain. and
vlsh to put 1t ON record that this road II b1lt by
taxes wIung from this city, instead Of being
| . advantage or c1ntrioutng 10 tn3 nro perlty OF
New Orleans will have tae ,ntrary effsct.
| The whole subject lies within tho purview
of political economy; that rcience which considers
| all question. that have a bearing upon the pros
petity or wealth of communi,les. That science
which in practical imp rance, and in its relation
to the ordinary affairs of life, as Backie justly
observes. exceeds in valne all other sciene and
studies to which men have applied their lntellec g.
| The advocates of the tax, with few exceptions,
| admis that tbs inveatme will not be remunera-
| tive to the stockholders or owners. Could the
stock be sold at par there wonld be no necessity
for the tax. There fore, deduce that, II this
road 10 built in the manner proposed, that 1t viii,
in stead OF beiag advantage, be detrimental to
the interests OF the people Of New Orleans. al
though certain professions and certain individu.
ais no sy be benefited. This conc nsiou is arrived
at from the we'll established, nay, fundamental
principle Of economical science, which is:
So That no industrial enterprise can be
profitable to community that Is not
profitable to the owners, who draw their
capital from that communlty; or, in other word :,
when capital is embarked IN an enterprise tnat
ylsl1s less iute est than il otherwise invested,
it is not only loss to the individual owners, but
it is to the amount OF he difference loss to the
wnCle community-and no remote, indirect or co
aefai advantages can Compensate for bh loss.
UpOn this principle take my stand before the
world ard assert that If this road Is built from
axes ex orted from shis city, instead of bling a
necessity th4t would justify the viflation Ct the
rights of properly, il will be detrimental ra her
tran otherwl. to the interests of New Orleans.
But not opposed 70 this road-or any
other road that may be built by the sp q aneoss
action Of capitalists using their own funds as an
lnvestment-,s suca enter prises will in all pr fb
ability ii Id an interest on the investment, and
thus con.r1bu Q to the public wealth.
nay lection TO buil1ieg this road nv taxation
ia in the wIthdr3 wal of capital from more Urost-
, less remunefatIve-
e. me give you an ;ns'snce. Suppose q mar
sold his b, rse and dray. by which he made sJ
per month, and inve- tad he pr ceels in 3 sew
14g actine which ony yielded $40. In oppo
81 q this transaction I would not be opposed te
sewing ms chimes, but would ,ndemn the trans
action in business point Of view, as unremuner
atiys TO the owner aud to the whole community