The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-02-25
THE NEW ORLEANS PACIFIC BILL

The bill in the Legislature 10 lend the credl
OF the State on ample and certain security t,
the New Orleans Pacific railroad may come
up to-day for consideration In the House o
Representatives. There Is no measure befor,
the General Assembly of more Importance
and urgency than this As revenue PROPOSE
tiun alone 1t demands the favorable attention
and prompt action Of our General Assembly
Instead Of seeking by various oppressiv.
taxes to swell the revenue Of the State to The
required amount to pay The interest on The
debt and defray the expenses, 1t is the true
| and wise policy to adopt such measures ae
| will Increase the assessment Of taxable values
now so greatly reduced as to render 1t neces
| sary to resort to such questionable modes oI
| raising revenue IA the license, the Mofett
aud like oppressive enactions.
| Our assessment, now reduced to $780, 900
| from $25o,o0o.oon few years ago. II restored
to the latter figure would, ttif,ler the present
taxation, Or even ifreduced by two mills, sup
ply an abundant revenue to meet all the inter
est liabilities Of the State the general ex-
penses, and contribute to the sinking fund
created by the funding act and thus render
unnecessary the oppressive irreguler taxes on
trades and professions This proposed aid to
the New Orleans Pacific Railroad js the
measure which by i sensible persons
will be recognized as the most effective
to Increase all assessable values oThere
can be no doubt lhat the road can be
completed with this aid We have every
assurance that within year from the time t
is Afforded the road would be In working con
dition Is 1t necessary to any Intelligent mind
to exhibit the imlneaiate effects which such
communication with the growing country tu
the Northwest must produce upon all values
upon all trades aud occupations, not only IN
this city, but throughout the StSte2 Let the
thousands of empty stores, the diminished
population and trade. the check upon all Inn
migration and enterprise: let the long stretch
Of uncultivated and rich lands lying along the
line Of this road, furnish the argument and
illustration on this point 01'heo unanimous
sentiment Of every intelligent and experienced
and capitalist will sustain the asser-
ton that with railroad communication opened
with Texas ell this depression and decline
Will disappear. and every species Of property |
and every employment of industry and capital |
will Immediately revive, and when the next |
assessment is made there will be an increased |
Of fully quarter of our present
taxable property
Precisely these effects were produced |
upon our nelghbor and Sontherlo rival.
Galveston, which in 1870 was q stationary
D. declining town Of eight or ten thousand |
inhabitants, but which since the establish
nent of railroad communication into the in-
erior Of that great State has increased TO
city OF thirty or forty Thousand inhabitants.
This fact, while 1t illustrates tho effects of
abroad communications into the Interior of
growing State upon comparatively small
eaport, refutes that apprehension expressed
y some unrphectng Or timid persons that
hese railroads msy draw off trade and prod
eco to st Louis It. is idle to elaborate the
Of such an apprehension In
egard to the New Orleans Pacific. or In fact
. reitorate the oft-repeated arguments in
avor OF its vast Importance and. il fact. ul-
ent necessity to this State and city.
We have no hope Of Its early completion
'ithout the aid of tne State. Theeaid now
sked Is simply one for a loan of the credit oil
,e State. 1t will involve no increase of tax
lion. The rate Of taxation Ia fixed in the
institution, But it will add enormously to
lie assessment upon which that taxation
lust be based. Hence we regard it as a rev.
nue measure, az we'll as ono Of public defense
nd general welfare. which ought to take pre-
edcnce of all others and have tho early and
fompt consideration Of our representatives.