Spirit of Jefferson. [volume] (Charles Town, Va. [W. Va.]) 1844-1948, 1879-02-04
LETTER OF HON. B. F. MARTIN.
WAsu1NeroN, JspuarY 22, 1s79.

the newspapers, Win some surprise, tHat Jul
Legislature has passed a resolution ipstruct>
ing the Senators, and requesting the Repre-
sentatives, to vote for the Texas Pacific
Railroad Subsidy Bill 1 am SO confdant
that this must have been done inadvertently,
or at least upon very imperfect knowledge
of the facts, that venture to address you in
regard to two or three points on the general
subject in the hope that you at least may not
allow this decision to stand without better
understanding of the questions involved.
First 1t should be known to our people
that the Texas Pacific Bill, as reported from
the committee, calls fer the endorsement of
the United States upon minimum amount
of S3S, $50, 900 of the bonds of that company
running fifty years, and bearing FIVE per cent
interest in gold, thus binding the Treasury
to pay out to capitalists 81 ,937 500 in gold
annually, or an aggregate of nearly S97 ,OOO,>
600 in all, for interest. The bonds arc upon
400 miles of road, and are at the rate of
$50, 900 per mile for the easy portion, and
S35 900 per mile for the harder portions OF
the route. This is more than enough to build
and equip the road at the present low prices
of labor and material, and it will leave
large profit to the builders without requiring
them to put in another dollar of their own
money.
Second Col. Scott, the President of the
Pennsylvania Railroad Company aud of SOW
era, tributary concerns between Pittsbure
and St. Louis, is also the President and
Chioc Manager of the Texas Pacific. There
can be no doubt, I think, of his purpose to
make the line from Northern Texas to the
Pacific subsidiary and subservient to his
roads north of the Ohio river-that is his
great motive in getting up this scheme to
make the government build moro roads to
feed his overgrown monopoly. West Fir,
GINA has nothing to hope for, but much to
lose, by the adoption of such policy.
Neither of the great trunk lines which cross
her territory need expect to get passenger
or car load of freight destined to or from
the far West, if Col. Scott and his allies
control both the Atlantic and Pacific ends
of the through line. They will be made to
work into each others hands in spite of
statutory provisions. No set of men in the
country ought to be entrusted with so large
and dangerous a power.
Third 1t turns out that one other COM
pany, and perhaps more, offer to build all
that is essential of this same Texas Pacific
road, either without aid from the government
or with very much less, Gas you will see by
the bill of Senator Johnston, of Virginia,
enclosed herewith than the sum asked by
this Texas Pacific Bill. For instance, the
San Francisco end of this Sind parallel road
across the continent, was originally required
to be built by California company, and that
company has already in operation continu-
Gus line from that city nearly eight hundred
miles eastward to the interior of Arizona,
where it is rapidly progressing a mile day.
average, of track being laid. Attracted by
the rich silver and gold mines of Arizona.
and backed by the rich mines of Nevada and
California, and her wheat fields, these CAPT
talists are now constructing the western half
of this railroad line in order to accommo>
date such local traffic as offers, and to par
tcpate in the through business. 1t is only
reasonable to suppose that the wealthy COM
panies controlled by the Pennsylvania mag
mates might, with 8, aud propri :ty, con-
struct the eastern half across the level plains
of Texas. At least ono Texas corporation
offers to build across that State to meeting
point at Ell Paso, for a subsidy of $4,000
per mile, and others would be glad to do so
along the same route the Texas Pacific, on
the same terms, without any utilization with
the lines north OF the Ohio
Fourth 1t will be seen, therefore, that
Congress is under no constraint 10 vote this
money, as the road is being built as fast as
could DO desired without resort to this dan
gerous precedent. The pecuniary assistance
of the Federal Government has never, in all
its history, been invoked to assist internal
improvements except on the ground that
they were Indispensable, and were beyond
the scope and ability Of the States, OF as
sociatcd capital. This enterprise, of which
more than half has already been built with
out subsidy in credit, is evidently not one OF
this class. % the contrary, if it were once
understood that tho government not
going into the business of building railroads,
private capital would be encouraged to step
in and complete it for tho rewards which
follow through traffic.
Furthermore, aud finally, you ought to be
aware that the people watching with at
tantige ewes whether the Democratic party
give promise of trustwor,hiuess in its charge
Of the public Treasury and the power OF
taxation The campaign of 1876 was car
ried on the basis OF no subsidies and greater
economy in administration and corresponding
reductions of taxes. | see no benefit to the
poor people of West Virginia from the in>
creased yearly burden of taxes to be laid on
them for the benefit of this Texas Company;
and besides, there is no good reason why, II
this subsidy be granted, thousands of others
should not. You may have noticed by the
debates that We are charged with the design
of opening wide the Treasury doors to rail-
road subsidies on our accession to power.
The action of West Virginia and two or three
Southern States on this matter of railroad
subsidies confirms this suspicion, aud is in
turing us before the country, in the opinion
of some Of our leading statesmen.
You will remember that this is no new
position for me, as | took tho same ground
10 my last canvass, in which l distinctly
stated that was opposed to all subsidies of
every kind, and il l owe my success to one
thing more than another, it is to this course.
| shall be very willing to meet my constitu>