The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1878-02-06

lar less than $4,000, and could, there,
lplel Pay running expenses and interest
on lls bonds with rates not halfas high
10 Nose now charged on the upper line
calculating from the amount paid BIZ
me government 90 tho Union aud Cun,
lIAl Fapllle Tor transportation 0f troops,
stores indian supplies aud Geographic
service, ll Naa shown that this Item
alone would more than equal tho
amount ul Interest ou construction
bonds which Ihe government Is asked
10 guarantee, Additional security Tor
the guarantee, and tho creation uf a
sinking fund 70 pay the eompanys
bonds, ID given la a frat lien on ita
property aud franchises, the proceeds
! nom the fRle Of los lands the net earn,
lnga OF the complete road, aud tho do,
post OF five thousand dollars per mile
IN bonds with the aeoremry Of the treas
ury, 70 be sold 10 meet any delay or do,
lleieucy IN paying Interest, Under these
circumstances the government would BIO
all the time In debt 20 the road, aud ils
guarantee of Interest would be simply !
an expression Of confidence, aud no |
subsidy AZ tho same tine this guar
anteo would secure tho sale Of the com,
panya bonds Ut par and give them tho
ability 10 build the road ~ the lowest
caah rates, TO he followed by CORES,
pondlngly low tariffs of charges, Under
these croumsAnoet ID ls not strange on
inconsistent that some Of the wurmeat
friends Of the Texas aud Pacific voted
for an auIi subsidy resolution in tho
house,
In Colonel SCOTS argument II was
shown that the completed road would
alyo the government ~ lenSt three mil,
lion dollars year uyyl aud above the
guaranteed Interest on the companys
bonds
The people would also save eight or
ten millions u year by the reduction Of
lmusgIn,inoutul rates, TIA, mtter being
It forced subsidy drawn from the indus.
tries Of the whole country by the exist
ing monopoly lle pointed significant
ly to the lact that the Texas and Pacl,
10 railway company had already ex,
pended ten million dollars Of private
capital in constructing this road nearly |
five hundred miles Ia Texas and but
Tor tho financial reyultion Of 1875, would
have had the road completed TO the Plt
cilic by this time, He also gave Ossur,
ance that with the moral aid asked from
the government the road could he
to San Diego in lSS2, II
was also shown in arguments that the
and vigorous prosecution
Of this work would relieve the financial
md labor famine OF the country, 10y
putting many millions Of idle capital
into active circulation and giving /
homes to the homeless, employment to
the idle, and bread to the hungry The +
work Of construction on the line Of the
road, and in rolling mills and machine
shops, ~ well as in opening mines and
farms through the southeast, would rcs
vitali2e the industries Of the country
md people vast region now doomed [
10 condition of scmibalharsm,
Mr.. Scott closed with u strong appeal
% the committee TO look at the guess
ion, not in the light of technicalics,
mt on the broad ground OF the interest !
If ,he whole country, and expressed
lis conviction that every member OF
congress who aided in securing this
great highway on hnsis lust to the
people and in the interest of the gov
'rnment, as II competing line between
he oceans would, in after years, regard
t as ono of the proudest acts of his pos
itical life. J.L.r.