The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-05-25
THE FOREIGN PROPERTY HOLDERS.

Editor Denocrat-While the friends Of the
New Orleans Pacific Railway are attempting to
create furore Of enthusiasm among that class
Of voters numerically the strongest In the COM
muDity, would it not be well for the more sober
minded to stop and coolly consider the 1sti co Of
the step to be taken on tbs Is Ia inst.
No one doubts the necessity OF railroad to
Texqs but IL is simplya question as to Hhether
'the ends justify the means"
The pr position 10 to impose an annual tax OF
FIVE mills on the dollar upn al taxable
property within the corporate limits OF Ne. o.
leaus for period Of four years to help build
To insnre this end vote is tn bo had, not OF
all interested, but OF all ci izeus; in other
| words, a part only OF those directly interested
will be allowed TO vote, aud toe rest "ehut ou%
because. although they have invested their cap
ital 10 New Orleans and contributed largely 70.
wards increasing her taxable res ources essential
to the maintenance Of good & verpment, they
have net thought fit TO become ci izens.
| We are told that the real estate OF New Or
leans. to the enormous amount of for y millions
OF dollars, belongs to people who live abroad.
and that every dollar OF their incomes is ex-
pended away from us; therefore these people
ought to be taxed heavily. for all such improve
mens as the one proposed. That all such pso-
pie not only do not benefit New Orleans, but are
an actual drawback to the po ce."
This is one OF The telling (7) arguments used to
influence the less in eigent OF voters.
| Al argument that is as false as il is unjust.
Suppose these foreign property holders, in.
stead OF investing their money among us, had
taken it 10 ST. Louis Chicago or New York, end
there used 1t in building houses and otherwise
improving the vacant lands in an about those
cities, would not New OIL ans have suffered to
the extent Of such with 4rswals Undoubtedly
i The class OF buildings wou'd be poorer, the
city less attractive, aud he burden Of defrayng
the expenses OF government fail upon fs~er tax
ttafy hnur nnnn n 1
way of taxes, licenses, etc, to defray them.
Every dollar ibvts ed from abroad in perma-
nent improvements in New OIleans is equlva'en'
to just that much permanently loaned TO the
city. II stays here, h4viug been largely dIstrlb-
I uted among the mechanics and wo king people
OF the CITY, who are employed to tH5ct the 1m-
provements in which it IL invested.
!, II the income ttisrefrom is used by the invest
ors to live upon eleewhere, it amounts to no
more than d moderste interest up m their capi.
tai, probably scrapsd togeth by hard and p,-
tient labor, and they are justified in expendinR
1t when and whore they choos they g. I'LL bear
their share in the support OF the government BY
the payment Of taxes, agd still supply work,
from year to year, to the aboring classes in keep
ipg up their numerous improvements. Why
then, should not the people have q say in SO
important q matter2 Whv not let 'hsm vote
upon this project, and say whether thev are will
' ing to con,ribu o their money towards 1t? These
4 people are neither fool. nor idiots. Experience
has shown them to be reasonable thinking be.
) ing, but OF that class who are not Wiling TO
D spend their m ney without reasonable gnaran
ee OF some return therefor.
q q mine this vote to taxpayers exclusively. or
ii not, lot eUe,y v5te who can pro5uee either
a tax receipt or certificate of cizsnshp: sDt
let the projectors OF the railroad give some guar
antee more than m re words that, IL the ~ ne,
0 ia snbscriDed or assessed, the road ecau b
4 bull, and that at reasonable cost.
v The is no doubt OF the honesty OF the gentle
: men who hsve the work in charge, but thev are
4 ha,,
o some safeguard against suffering the city and
i state have suffered through former rsilroad en-
: terprises.
i Tho projectors OF the Southern Railroad
thought they could ,mpee their work upol
:. subscrp,on Of SIG one, 900 from Cincinnati, We
" we arc just informed by an associated press di
e patch "that the money is ali expended and still
a considerable part OF the work remains unfn
a ished."
= We need railroad to Texas There is nr
l. doubt that it will benefit New Orleans. though
TO the xtent claimed IN the high sounding an
d fourishing address of the New Orleans Pa III
10 Railway COMPANY; and II we build thst rea
V without forced loan for which no other seturit
r is offered than stock certificates, which may i
y the end not be wor h the paper they are write
j. upon, let us have the rod.
> But let us begin the right way about 1t. D,n'
!. begin by incres ing taxe,, and thus pave the wa
9 for he prevention Of further investments OF for
o egn capitaI.
q Rather let us work tie other way, now that W
. have emerged from our political troubles, an
q when sufficient time has elapsed to show tn
r world that our own ltgovernment is all that W
}, claim for it, no difficulty will be found In secul
v ing Ell the needed capital from abroad twhio
,f The projectors Of the New Orleans Pacific Ralwa
affects to despi 81 to build us railway to Texas
o Convince foreign capitalists OF the real factl
@ and instll into them confidence that they will
n properly protected 10 their rights as propert
9 holders and taxpayers, and we shall then obtai
,t part of that assistance from them that ba
10 built up Chicago and the other great railroa
centres Of the country. TAXPAYER.
!.