The Pulaski citizen. [volume] (Pulaski, Tenn.) 1866-current, 1880-01-08
EASTERN AND WESTERN RAIL
ROAD.
ADDRESS OF WIN. J. SYKES
3 the People Of Lincoln, Giles, Law
renee and Wayne Counties.

Having been selected by The
Board of Directors of the Pulaski
Fayetteville, Luxembourg IL Cliff
ton Railroad Company TO solicit
subscriptions of stock to said com
pany, 1 propose in this address tC
: state briefly the reasons for build
ing the road from Fayetteville tt
Clifton, it's probable cost and what
we may reasonably expect to be it'
net earnings.
No man can be expected to take
stock in any company or to assist
in any enterprise unless he has
good reason to believe he will be-
benefited more than he is called
upon to pay. But in considering
the benefits he must consider not
only what he receives directly from
dividends but also the incidental
advantages. If a farmer takes
stock to the amount of one tbOus-
and dollars, aud if this stock should
! be worthless, he would ordinarily
say that he had lost a thousand
ldollars, but this by no means fol
J lows. Whilst the stock may be
worthless, he may be benefited
far more than q thousand dollars.
/ The interest upon q thousand dol
| lars at six per cent. is sixty dollars
per annum. If the farmer who
subscribes one thousand dollars
raises one thousand bushels of
wheat for sale, saving of ten cents
busheI on this wheat would be
800, or ten per cent. upon the
amount he had invested in the rail-
road. This saving is only upon
one article and there is like saw
ing upon all others. Giles county
invested 100000 in the railroad
now running through the county.
Before that road was built, wheat
was never worth in the county
more than fifty cents q bushel, and
if it we're now taken away, wheat
would not be worth anything like
what it is at present. If there
we're no railroads in the State,
wheat would not bring more than
fifty cts per bushel. The differ
ence in the price of wheat in Giles
county and in counties where there
is no railroad is from fifteen to
twenty cents per bushel. This
upon the wheat crop of Giles
county amounts annually to thirty
thousand dollars, whilst six per
cent. interest upon the amount she
subscribed To the railroad company
is only $4,000. Similar remarks
are as applicable to corn, hogs,
cattle and many other items.
Everything the farmer raises for
sale is increased in price, and
everything he has to buy is reduced.
This is the reason why the value of
land so much increases because of
the building of railroads.
In 1850 when there were no rail
roads the value of land in Giles
county was 81, 604, 153, and in 1870
it was 6,7I7,82 according TO the
census. In 1850 the value of land
in Lincoln county was 1886, 500;
in 1870 it was SO, 52I, 100. The
value of land increases as the cost
of transportation is decreased and
as a consequence tie price of arti-
cles for sale increases. The farm
ers and producers in the country
are the men who mainly reap the
benefits of railroads and other
works of Improvement. However,
as the country prospers the towns
prosper and in this way they are
benefited by railroads. Whilst
even one railroad is beneficial, two
or more railroads are more so, be-
cause they furnish greater facilities
and by competition reduce freight
charges and thereby benefit the
producer and land owner. IF Giles
county had another railroad run
ming from East 20 West, all parts of
the county would be benefited, be-
cause, as matter Of course, there
would be a reduction in the price of
freights. The railroads themselves
would not be injured, because, al
though the freights might be re-
duced there would be such an in
crease of business that it would more
than compensate for the reduction
in the price of ireights.
Whilst all portions of the county
would be benefited, those living on
or near the line of railway would be
most benefited. A subscription of
one dollar per acre on ali land with
in four miles of the road would Sc
cure its construction and every
acre OF this land would be en-
10000 -, liz, ron, fL-aa - 81.
dollars per acre or from three to
five times the amount necessary to
be subscribed TO secure it. I have
only spoken of the articles for ex
port, but the same arguments APP
ply when there are articles imported
for sale. As the freights upon
these are reduced toe consumers
get them that much cheaper For
instance, Il it costs twelve cents n
bushel transportation on coal at
one time, and after wards only i've
cents q bushel, the saving is seven
cents per bushel, and if family
con sumes $50 bushels of coal each
year, 1t is $3.50. II the town of
Pulaski should consume $4,000
bushels of coal per snuum, the saw
ing on this article OF prime neces-
sity would Re IS, 500, which is seven
per cent. interest upon $4,000. AS
with coal so with everything else
that is 5ronght in for sale.
I could 90 on and mention al
most without number the benefits
which would result TO the people of
the towns and Of the country, but
unless we have the means Of build
ing the road, this would do no
good. The people who are to be
benefited must furnish the means
of building the road, or it viii not
be built. II you rely lpon others
TO build roads that you may enjoy
the benefit Of them, yout hope is de-
lusive and your reliance is vain.
IF you are not willing to furnish
the means, the road viii not be
built and you viii not enjoy it's ad-
vantages.
am Of opinio that a road prop
erly built, in addition TO its Incl
dental benefits viii yield dividends.
This rosd from Fayetteville 60 Law