The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1878-05-10
'l senafor .Toh,.nston,s scheme.

Senator johnston y Sc16Hss
4 we present below Senator d aNyToS's ex-
PLANTATION la regard 20 histrans-co Continental
railroad line. he Is q Virginia SENATOR;
and is peculiarly entitled TO a hearing in
Virginia upon so important matter We
give what is received through our Washing
ton correspondent, and which is therefore
entitled to respect as being authorized:
The prospects Of the bill brought for
ward by tie Texas-Paci6c Company were
not hopeful for the following reasons: 1t
did not appear to make IL obligatory on the
company to make any connection with the
Mississippi river-that il, for the road
from jefferson to Memphis or Vicksbnrg,
whichever should be selected as the terml-
nus: for. be it observed, the bill brought
forward in the House contained clause
forfeiting the company's rights under the
law unless they complied with all its proVi-
sion: but the Senate bill omitted this for.
fejture, and il was understood that the Sen.
ate bill was the one to be pushed. This did
not strike a looker-on very fayorably, Tor 1t
might suggest an apprehension that it was
opening way to dodge making that part
OF the road running to the Mississippi river,
for which no subsidy was allowed. Unless
that part OF the road was made and fairly
run the whole enterprise would be worth
less to the South.
The primary object Of southern men
should be to get the road built and TO ma a
bill that could pass. And in looking over
the ground it must be manifest that the
only object the Government could have IN
extending Its aid would be TO open up COM
munication and make road where none
now existed. That the Government would
lend its credit to make one road II another
was already in operation was not to be eX-
pected. Now, then, the Southern Pacific
is being pushed eastward with great
yipor. and about seven hundred miles
are in actual operation. 1t must pass
through El Paso, and the TeXas-Paclhc
goes, or is to 60, through the same place.
For some distance both east and west OF
that point the line OF the two roads would
be almost identical. II the Government
granted aid by way Of subsidy or loan OF
credit to the Texas Pacific aceSt OF Ell Faso
it would grant aid to build that road right
by the side OF another, and such PROPOSE
ton as that would receive few il any votes.
Therefore the ouly thing that seemed prac.
ticahle was to divide the distance, ana let
the Southern Pacific come to I'll PaSo, Win
nothing but the land-grant, which 1t is VIII.
ing to do, and let the Texas-Pacitic go from
the west to the same point. When the
Southern Pacific was Offering to build TO
Ell Paso without any subsidy OF Gov
eminent credit the public would hard
" justify the Congress which rejected
that offer aud gave another company
good subsidy for this same work. One
complaint against the Johnston bill is
that the $4,000 per mile allowed by it will
not be sufficient to build the road. But it
must be recolected that the company has
a valuable land-grant, and that the prices
of labor and materials have fallen so much
that $4,000 now is as good rs 0,000 hve
wears ago. The sum proposed is in the lii
terest Of economy and honesty. There IS
no margin for plumber il anybody should
want to practice it. Carefully, judciousIy,
and economically managed, the Immigrant
and the loan will build the road, and while
contractors and spectators may complain
at the low sum the people will not.
The feature OF the Johnston bill deselv-
ing OF special commentator is the manner
of the loan. The Government lent bonds to
the Central and Union Pacific roads, and
the consequence is that the people pay every
year about S3,400,000 interest on them,
only small portion Of which is re-
turned. But the Johnston bill pro-
poses that the Government advance green
backs to complete the road, upon Which 1t
is to pay no interest. This money would
60 into circulation and tend greatly to
loosen the pressure now upon the country.
By the terms OF the bill the company is to
pay the Government four per cent. upon the
loan in transportation of mails and sup
plies. &c. Now, compare the Scott bill and
the Johnston bill in this respect. The Scott
bill calls for S3S, 100000, bearing five per
cent. and running for fifty years, and the
Government to guarantee the interest,
which is $1,937 800 year-maklng for the
fifty years nearly S100,000,000. These bonds
would probably be sold in Europe, in whole
or in part and the interest would go out OF
the country and would have to be paid by
taxing the people in some form. The john
ston bill would take-say $20,000,00O, the in
terest on which, at four per cent, would be
about $500, 900, which would be paid into
the treasury instead of out OF it. Thus
under the Scott bill the people would pay
nearly S2,O00,O00 each year. Under the
Johnston bill they would receioe nearly
$500, 900 each year. Surely the people could
not object to this; and if the Johnston bill
will build the road, why should anybody
oppose it, unless, indeed, it was some one
who hoped to make something out OF the
peoples money?
But it is urged that it is necessary to eX-
clude the parties who now control the Cen
trail and Union Pacific from the Southern
route because if allowed to have anything
to do with it they will make it monopoly
and Cypress the people with high fares and
freights; that competing line is necessary.
I But the answer to this is obvious. 1t
would be hard to make competing lines
Of two roads four hundred or more
miles apart throughout their whole distance
as the Southern route would be from the
other. Competing lines are those that
struggle for the same trade and traverse
contiguous territory. But when TWO lines
are far apart, with portion Of the inter-
vening country desert, they can't be com.
petitors, and the rates on one can't be used
to reduce those on the other. And, be-
sides, Congress can easily reserve the right
to control and regulate frcights. Colonel
Scott would have control OF the road from
Marshall to I'll Paso, and would thus be en-
abled to regulate freights and fares. No
extortion or oppression could be practiced
upon the people without his consent; and
as he has declared himself unalterably OPP
posed to anything but moderate and rea-
sonable charges, it may be claimed that I'M
der the Johnston bill nobody can be OPP
pressed.
We want southern line to the Pacific,
and we want it quick 20 get it we must
not embarrass ourselves with preferences
for or hostility to particular men. We must
not be welded to any scheme, but must
take the most practicable, and we must In
sist all the time, and vigorously. that 1t
shall be southern road. t.g.-
The Johnston bill does not create ma
tional monopoly, but aids separately State