The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1878-08-17
commanded the peace. That was often
referred to as the Battle Of the door"
THrRAo.R.A

which permitted them 10 pass through |
that State at the SandpAtch, down where |
the ConnelIsyille road now Is, and thence |
10 Wheeling and Pittsburgh. The only
condition attached was that Philadelphia
should have the right to tap the road
anywhere east OF the mountAins. The
rejection was the worst blow Baltimore
ever had or Wheeling either. but both
have pretty well recovered, the road
would have been completed five years
sooner than II was, at a cost OF eight or
ten million less, on much shorter dis
lance, with no grade Of over fifty feet TO
the mile and her own rent, expense Of
transportation would be twenty per
cent iess. Had this been done the Penn
sylvania Central would not have been.
built where it ia, but through the Sand
patch, which Is the shorter route from
Philadelphia to Pittsburgh when grade
ia allowed for. This rejection was
brought about by the belief in Baltimore
that Philadelphia could not build a road
to the west, and that Authorization con.
tinued among the most intelligent men
there, as late as 1S49, Notwithstanding
the Pennsylvania road was being pushed
TO completion. The acceptance OF this
charter would have made vast differ
ence in your region, West Virginia,
however, would have lost mostly BY 1t
in the development Of her resources. The
B, so. should connect the Hempfeld
and Connellsville. 1t would make her a
successful competitor for much Of the
Pennsylvania Centrals freight, which abe
cannot carry over her present hills. 4
RAILROADS GENERALLY.
By the bye, speaking Of railroads I
have 3 mind to express some thoughts
that may or may not have occurred to
others, and l may be called heterodox,
as all unsuccessful men are who dare
talk OF finance; but good once came out
Of Nazareth, and may often come. The
Eastern people throw stones at the West
on every possible occasion, by saying,
ave furnished the means 10 build your
railroads and now you want cheap
freight, and some Of you grudge the In:
terest you pay and want to repudiate:" l
do not believe in Reputation, unless
persons are in the fix Bishop & Co. are
and are compelled to; but it strikes me
there IL some reason in our grumbling.
The Western people wanted To- get out OF
The mud, and they proposed 10 build roads
TO connect them with the Eastern mar
kets. They furnished hall the cost In /
stock--we will say, in ALL 1.-TWO billions;
then they issued bonds to an equal
amount st 8, z and 8 per cent interest
averaging 7 per cent. These, Eastern or
European capitalists boughtat 80 to 80
cents on the dollar, giving them 10 per
cent interest on the outlay; but inter.
eat must be paid in full. The
roads did not pay and nearly all have
been sold. The west lost her two bill.
lions Of stock while the east owns the
roads and gets the interest on her part OF
the investment. The west got out Of the
mud ia time, but the east would have
starved II she could have got western
produce only by horse and wagon, and
her manufactures must have died out or
never lived but for the railroads to carry
them to markets. II strikes me, then,
that the advantages derived from the
roads by the east are as great as those By
the west, and yet the east 10 getting cash
direct from them right along, while the
west has lost; her investment and has
never received aldollar, but the adyant.
age Of the road to their product. It Is
true, they have us by the hair; but they
ought 10 be satisfied with pounding with.
out calling us hard names II we are not
able to pay up every dollar that is due at
the day named. . 'i .-t' aN
Let us look at this matter In another
light. Some persons say that money Ia
worth all the interest 1t will bring. II
that ia true, Shy lock was an honest man
and Antonio arepudiator. No, the pub.
lie hold, and Justly, Insurers in contempt,
but they only apply the term TO thope
who demand high price where those
who need apply for II. A case OF this
kind is found in the inception OF our ma.
tional bonded debt. In the monied cen
ter-New York, Tammany, Tilden, Bel
mont, &c., were as much rebels Us jeff.
Davis. They decried the greenbacks as
unconstitutional, and would never be paid
until they we're worth forty cents on the
dollar. The Government in Tia need and
to get rid OF fire In the rear, called them
to Washington, and asked them what they
would take the bonds for. They put on
terms that made them yield 80 per cent
on the actual Investment. Necessity COM
PEELED the acceptance Of the terms, and
having accepted the terms they should be
paid; but those who fixed the terms de-
serve only hatred and contempt in this
world and torture IN the next. Govern
ment Is getting rid OF the evil as fast as
possible BY bringing gold to par and the
bonds 10 four per cent. Doing itin the
honest way, and lowering Of the current
rate Of interest will follow fast. Keep
our present rate Of duties and with our
energy, product and return to common
sense, money will steadily dow into this
country instead Of out oil II, and We
shall reach the rate Of interest We never
ought to have cxceeded-three per cent
the amount Of the annual increase OF our
national wealth.
Have the railroad, the city or govern.
ment creditors any right to complain
when we have been paying them double
the honest rate OF interest for seventeen
years2 But It was so nominated in the
bond, and must be paid. Yet, let US clote
up the bonds "a fast as possible, honestly,
even II we do have to wear ragged shirts
In the meantime. They are more whole.
some than ragged reputations.i l'5 r.