National Republican. (Washington City (D.C.)) 1872-1888, 1878-03-20
Railroad Subsidies.

We have steadily opposed any more sub
sides for constructing railroads through our
own country at present, for the reason that
| we think this Government has done enough
up to this time to foster enterprise in this
direction There may be just need, how
ever, of fostering our ocean marine interests
and this at the proper time may be dealt
with as an independent proposition. The
railroad contest for subsidies is waxing warm
and interesting and whatever Congress may
be induced to do IL should be done where IL
will do the most good. The struggle now
existing between the Texas Pacific and the
southern Pacific enterprises seems to en-
gage the largest degree Of public attention
and interest. In discussing these questions
the New York Times holds the following
view of the case
There is no ground for tho pTetense that tho
vested interests Of the Texas Pacific give it
precedence over the Southern Pacific. Test
| the question "a we may. the equitable rights
| Of the southern Pacific are the stronger. II
| has substantially COMPLIED with the terms of
| its charter while by strict Interpretation
of the law the Texas Pacific has forfeited its
chartered privileges. II has already built seven
huHuTcu anu twenty mics OF ROAD through n
region Offering great natural obstacles at cost
of SdO.OOOooO; while tho Texas Pacific has
| only four hundred and forty-three miles al
| told, Of which but one hundred and eighty
| three miles are part of the trunk line. Ac-
| cording to its CHAPTER, II should by this time
have built six hundred miles Tho Southern
Pacific, again, enjoys the confidence OF capital.
| lists to an extent that enables It's managers to
| undertake the extension of its line eastward
| TO the Rio Grande at q rate as rapid as that
| until now maintained, without the loan or
gift of dollar by the National Treasury, and
without any grant of public lands; with an
understanding that IL, when 1t reach FL Paso,
Texas road shall not be extended to
| that point, 1t shall be at liberty-still un.
| aidcd-tO perfect the connection that will he
needed to make q Southern transcontincntal
road great reality. Tho Texas Pacific. on the
other hand has neither means nor credit. 1t
has distance Of r,49l miles yet to coyer,with
ont resources available for building another
| mile. IL has land grant of 900 acres
in Texas, and 1S,O00,0O0 acres In the Terri
tories beyond but 50 completely is confidence
| in Its management gone, that it is unable
even with these lands as security, to borrow
more money. Its only hope lies in its ability
| to induce Congress to lend IL S}5 800. 900 for
fifty years, and to provide five per cent. in
terest on that enormous sum, annually, for
fifty years. The comparison between the two
prospects is. then, obviously in favor of the
Southern Pacific in every particular. 1t has u
better claim to consideration because II has
kept faith with the public, because the results
Of its enterprise attest its financial capacity,
and because il undertakes to do with its own
means what the Texas Pacific caunOt accom-
plish save at the cost OF hundreds Of millions
| to the taxpayers.