St. Landry democrat., 1878-02-23
New Orleans Pacific Railway.
From the n. 0. Democrat

From tine n. q. DemOcrat.I
The Judiciary Committee of the
House OF Representatives have reported
favorably, the bill to grant to the New
Orleans Pacific Railway Company two
millions in State bonds, to bear 6 per
cent per annum interest, and repayablc
in forty years from date of issue, re-
company for n like amount, on similar
terms as to interest and time of repay
meut, with 25 per cent additional OF
said bonds over the two millions, to
guarantee the State against any possl-
Fifty of default on the part OF the COM
nauT in the puDctual payment OF the
interest on its bonds.
The work already done by this com
nany. which includes one hundred and
ffty miles OF excellently graded road,
ia moderately estimated by most com
petent Judges as worth S5O0,OOO, on
Which the company ask an advance OF
State bonds for $250,000. Thereafter,
us each section of ten miles Is graded,
tied and metalled with steel rails ready
for the rolling stock, $4,000 in bonds
per mile are to be advanced by the
State on the acceptance OF the work
by the State engineers designated by
the Governor for the purpose.
or other tax is asked by the company.
nor has any been granted; all that is
required is loan of State bonds on
securities unimpeachably sufficient for
So 600, 600, to enable our struggling
fellow citizens to complete this great
patriotic enterprise, which will people
many of our parishes, enormously m
crease their productive power and tax
able capacity, and add millions yearly
TO the commerce of our suffering
capital.
No one interested in State securities,
no MT reliant, no real estate 0wner, 20
taxpayer of any description, has, so far
AZ our knowledge of the community
extends, uttered one syllable ut oppo-
sitiou to the bill before the Genera AS
seaallHy for the objects embraced IN 1t,
or the manner in which it is proposed
to carry them to successful completion !;
can it then, we need scarcely inquire,
he necessary for us to say more than
what every one earnestly demands
ought to be done speedily, ungrudg-
ingly, spontaneously for the salvation
of the best interests of our State and
city?
Some little dissent was embodied in a
miuArity report of two membeIs OF the
Judiciary Committee to the bill, but w
are cutie sure, from the high character
and Intelligence OF the gentlemen al
luded to, that they will not make their
objections a ground for serious OppOSl-
ton to a measure deemed 80 yltally ne
cessary for the rt-establishment OF our
prosperity, the development OF our in
terror parishes and the restoration ut
our declining commerce.
1t is impossible to eXaggerate the ad-.
| vantages. to be accomplished by road
| connecting this city with Shreveport,
on Red river, and marshall, in Texas,
| not only i'll the increase Of our popula-
ton, the augmentation of our agricuI
tural wealth, the diversion to our city
of millions of dollars per annum, but III
! the addition it would cause to every
taxable element upon which our rell-
ance must be placed for the mainten-
ance OF the public credit and the sup
port of the State administration. More
over it would give strength and sta
bility to political aud other corporations
| whose credltable existence is lnsepara-
bly, entwined with the public prosperity
| Never in our editorial career: did a
more painful duty devolve upon Us than
of opposing the scheme to build this
railroad by a tax on the property OF oui
city. We felt as deeply sensible to its
necessity to stay the downward ten
dency of our commercial fortunes as
any of it's most ardent friends. Indeed
we never hesitated to express our con
vic,ion that it was the one first, great
step toward a new and more glorious
future but we did not desire to achieve
that by means SO objectionable as the
taxation proposed implied. And un'
pleasant as it was to be compelled tt
separate ourselves from friends whom
we held, for many good reasons, in the
highest esteem, We made the sacrlnce
and have never regretted 1t.
| How stands the case to-day No favor
according to the old and reprehensivs
modes, is asked of the State, no excep
tional legislation to aid the capital il
this enterprise over the capital other
wise employed, no special privileges
, nothing but loan Of State bonds to
900 on first mortgage OF roat
$50 miles in length, and, as the road Il
completed, with an additional guaran
tee 0f IS per cent in like tirsf, mortgage
bonds, the enyire amount OF which i
limited to $1,000 900, or less than S14,
600 per mile of completed road.
Not only this, but the company un
of $4,000 annually, commencing fiv
years liouA tile opeuins oA tne tettN y
{ traffic.
! Can any proposition commend itsel
more acceptably to legislative supper
than this : Can human ingenuity dc
wise a plan for the enrichment OF sui
fering people so free from every reas
unabla and fair objection. or one SO We
calculated to make representatives &
e the peO1,le forget their party difference
and unite for the promotion of an III
dertaking that will contribute more q
less to every ones happiness and worlo
ly success9