The Daily clarion. [volume] (Jackson, Miss.) 1866-1888, 1878-01-23

We will reproduce those paragraphs
which relate especially to the Sou thern
section of the Union, and our State of
Mississippi particularly:
1t would furnish the only means of
travel and transportation between the
lower Mississippi and the Pacific coast.
If the rates were ever SO cheap on the pres
ent line it could not be used TO any extent
by ten millions of people living below the
! 9th parallel.
| 1t would revive the industries and
vitalze the railway system of the South
by passing tide of the worlds COM
merce through that country to its Atlantic
ports.
It would relieve the financial pres
sure by putting large amounts of idle
capital into active circulation. The country
suffers not so much from the lack Of
money as from the fact that this money,
by hundreds of millions, is not in circula
/ ton.
1t would largely increase not only
the aggregate wealth but the social
happiness and moral power of the ma
ton by transforming a waste wilderness
into the habitations of men possessing all
the comforts and conveniences of civilized
life.
4 1t would save the people Of the United
States eight or ten millions a year in the
cost of transportation between the Missis
sippi and the Pacific.
1t would save the Government not less
than ten millions year in the two items OF
transportation and border protection.
1t would redeem the country from vassal-
age the crushing monopoly of the Central
Pacific, which now seeks for Government
aid to enable it to double and perpetu-
ate this power by building a line east
from Southern California to the Missis-
sppi, thus destroying all chance of COM
petative line, and increasing a burden
already too grievous to be borne.
The friends of the Texas Pacific seem
to have combined in favor of the bill in
J. troduced by Hon. A. FL. Stephens, which
though agreeing in the main, differs
: somewhat from that brought forward by
! Mr.. Lamar in the House near the close of
f the last Congress. The main differences
+ are the cutting off of all branches, and
. providing for trunk line only, from the
present western terminus of the Texas
o and Pacific railroad, at Fort Worth,
: Texas, to San Diego, on the Pacific
Ocean, and reducing the maximum
amount of bonds, the interest Of which
: is to be guaranteed by the General Gov
: eminent, from seventy millions to thirty
: eight millions, and the cost per mile
from thirty-fve thousand to twenty thous-
and dollars, or less, if the actual cost of
construction should be less.
: The bill further provides that the
. Texas & Pacific Railway shall be ex-
tended from Shreveport, Louisiana, Gts
present eastern terminus) to the Missis-
, sissppi river, at such point as shall be
decided upon by five commissioners, tc
be appointed by the President, two Of
{ whom shall be United States engineers,
Il and none OF whom shall have any in
terest, local or personal, which would
bias their judgments for or against any
. particular point, and that the depot o.
said terminus shall be maintained on the
: eastern bank Of the Mississippi river.
The securities to be furnished by the
company for the guarantee of interest OF
}, the bonds of the latter, are considered
lie ample to secure the Government against
Or loss. They are as follows:
e. First.-A first mortgage lien on al
,. the property of the company, of ever,
OF description.
er Second.-The retention by the Gov
e. eminent of all dues for the transporta
E. ton Of mails, and of troops and thei
r supplies, and for telegraph service.
u, Third.-The proceeds of the sales 0
OF the company's lands, granted by tn
ne United States, and the State of Texa
after deducting the cost of such sales, t
be turned into the United States Treas
ury.
: Fourth. Government to retail
Il in its possession the bonds of the compa
= ny to the amount of $4,000 per mile, t
IS be sold to meet any possible default o
of the company to meet the interest on it
10 bonds.
o The bill also contains stringent pro-
70 visions against combinations and give
N every connecting road equal advantage
J. as to through business. In other words
N requires the trunk road to pro-rate witt
all connecting roads for such business.
1t cannot be said that this scheme is il
T. the interest of st. Louis and its East
10 ern railroad connections, as it cuts OF
g. ~.