The Rock Island Argus. (Rock Island, Ill.) 1877-1885, 1878-12-05
THE COMMERCIAL CONVENTION
AT NEW ORLEANS.
Proves to be Texas Pacific &. q.
Auxilliary,--The Resolutions passed,

NEW ORLEANS, Dec. 4.-The CONNER
cial Convention was called to order at ii |
clock a. NJ, and Gen. Fitzhugh Lee, Of |
Virginia, was made permanent President. |
He made speech expressing qualification |
at the peaceful relations existing between |
the different States and sections. Several
resolutions were offered and referred to
committees. Seventeen States are repre-
sented.
The following was unanimously adopt
ed. with the exception Of three votes sfrom
Southern Texas:
WHEREAS. The commercial interests
OF cur country imperativeiy demand, as a
necessity, competitive line of railway
connecting the waters of the Mississippi
river with the Pacific Ocean. by the most
practicable route, along or near the thirty
second parallel of north latitude; and.
WHEREAS, Ia order to secure cheap
transportation over said line, cheap costs
| Ct construction is absolutely necessary,
which can only be secured by such meas
ures as will secure cheap money upon secu-
rites Of the Texas & Pacific Railroad Com
pauy now seeking to complete its line on the
thirty second parallel, as an open highway
| free 20 all railway business, with its earn
iDgs subject to the regulating power of
| Congress, failure 10 the proposition Of
that company, which shows that it has
recognized the duty. and importance of ap-
plying the best laws of economy of the
commerce OF the world in Its application
to Congress for national aid; and
WHEREAS. A government guarantee Of
a low rate of interest on the bonds of the
Texas 4 Pacific Railroad Company would
seem to afford the most certain meaDs of
obtaining the funds necessary to construct
this line; and
| WHEREAS, What is known as the Texas
Il Pacific railway bill, now pending before
congress, to complete said company's line
from Ft. Worth. Texas, TO San Diego,
Cal, is one which confdes in no person or
character connected with the enterprise,
but inculcates the wisdom of the suspicion
and jealousy of those who are TO receive
the national trust by provisions which have
reduced the application of the company fol
t government aid down to the extreme oil
/ harmony with the interests of the people.
J the government, and the company. and il
, bill which seems best adapted to secure
} the speedy completion of such line and Il
J enable the company to obtain money at {
/ low rate of interest; therefore,
Resolued, That this convention recon-
mend and urge upon congress to take i'm.
: mediate favorable action on the aid bill. tt
the end that the Texas & Pacific road ma,
: be constructed at the earliest possibl
5 moment, that the completion by an inde
. pendent competitive line of railway may b
: secured, and that the laboripg and manu-
= featuring interests of the country may b
? stimulated,
0 WHEREAS, Competing lines north an
0 south of the existing roads is essential {
D the welfare of the whole country, be it
Resolued, That the aid already granite
9 by the general government to the North
: ern Pacific railroad company should not b
It withdrawn,
e WHEREAS, Unless the Union and Ger
J. tral Pacific railroad companies are held t
s.. the strictest accountability the benefit {
competing lines will be lessened or los
therefore,
ResoIved. That the Union and CeDtr,
railroad companies>should be held to tt
l. strictest compliance with their charter
4 and the laws regulating them.
,r After adopting the preamble and res
e lutIons faYoring the Texas Pacific raj
Il road the convention adjourned until t
J. morrow.