The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1878-01-05

XI. IL would build another CONNER
sial mart on the Pacific coast, to in
crease trade in peace and give shelter
and strength in war.
XII 1t would build great highway
70 the Pacific, open to traffic, and free
from distractions the year round. and
equally free from any power to com
biue, discriminate or levy extortionate
charges
Niil. ltslo costs OF construction aud
regulated tariff would make il power
ful competitor Tor transcontinentsl
traffic.
XIV. 1t would furnish the only
means Of traffic and transportation be-
tween the lower Mississippi and the
Pacific coast 1.-THE rates were ever SO
cheap on The present line it could not
be used by the millions of people living
below the thirty.seventh parallel
XIV. It would revive industry and
yitalize the railway system of the south,
by pouring tide of the worlds com
metce through that country to her At
lantic ports
XVI 1t would relieve the financial
pressure by putting large amounts of
idle capital into active circulation. The
country suffers, not so much for the
lack Of money, as from the fac. that
d thia fDn,a,- IL ip,,I.aI. e x..;Fr:...- :.
not IN circulation.
XVII II would increase the aggre,
gate wealth Of the country by the de-
velopment OF rich mines, and the ex-
tension OF our trade relations with the
states Of Mexico.
XVIII Il would save the country
not less than ten millions year in
transportation and border protection.
NIX. II would save the people eight
to ten millions year in transportation
between the Mississippi and the Pacific.
A& 1t would save the country from
the perpetual curse Of great monopoly
which seeks now by government aid to
double its power, and increase its Dor.
ders by extending ita railroad from
tho Yuma to the Mississippi, thus de.
stroying all hope of relief by compet-
Ing line.
How can the road be buiit2 By a
governments guarantee Of FIVE per cent.
interest on the company's construction
bonds, the guarantee to be secured as
follows.
First-By the proceeds of the sale of
their lands.
Secondly first lien on all their
property and franchise.
Thirdly the netearnings ofthe com
pleted road.
Fourth-By the transportation OF
troops. mails, stores, etc.
Fifth--By deposit of Eve thousand
dollars per mile OF bonds to be sold to
NET any default in paying interest
The conditions of the charter are
shst the company's bonds, amounting
10 s5l 750eoo, the hiyhes, SUM believed
to be necessary to complete the road,
about twelve hundred miles from Fort
Worth to San Diego. shall be printed
un'ler tho supervision of tbs governs
aent and deposited in the United
States treasury. Whenever section
cf ten miles Is completed. and approved
BY q government commission bonds 10
the amount of the actual cost OF con-
atrocfion. not exceeding the aipsunt
specified in the charter, are to be do
lissred to the company. While the
aTnoant above named is all that the
government will guarantees interest
upon. IL IS believed that even this sum
viii bs reduced one or two millions In
the work OF construction The annual
Interest on this sum would be 81, $751;.
500. sum not half 20 great as Il now
pad 10 the Union and Central Pacific
for the single item of government trans |
pcrtasion and teIegraphic service.
Il . unfair and unjust 70 call this
government guarantee of interest, four
or five times secured. subsidy. But
even II Il we're . simple tlonation Of the |
iaterest. u would BE- no more subsidy
THAI the millions which are paid ans
nusIIy 70 furnish mail servicA 70 thinly |
populated States and territories, wh;fs
the completes Of the road would b |
FUN II the most bene6cent results 70 |