The White Pine news. [volume] (Treasure City, Nev.) 1868-1906, 1881-02-05
THE RAILROAD SCHEME.


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EDIroR WHITE PINE News: The advo-
Gates Of the Eureka and Colorado River
Railroad bill publish a prospectus giving an
estimate of the yearly revenue to be derived
by the treasures of the respective counties
through which the road is TO pass.
"'Please step into my parlor' said the
spider to the fly, and l viii convince you
how foolish 1t is to be rowing about without
enjoying that PLEASURE" This is the talk
Of the friends of the bill.
Two hundred thousand dollars Ia TO ham,
per the industry of every taxpayer, with
500 900 additional interest, for a great number
Of years, for no reason whatever but to
please spectators, who say there is to come
back, in the shape of taxes which they will
pay. some $4,000 a year, and all the sum to
be had from the scrip or stock certificates
for 100000 in the stock Of the company.
Who can suppose that the sum laid down
as revenue to White Pine, or the sum TO Lin
coin county. Is to be assessed as in the scheme
proposed. One hundred and fifty miles of
railroad are taxed to the company. Fifty
miles are all that is called for in the bill.
1t Is to be supposed that tho company will
bind itself TO pay the amount assessed in the
the prospectus it has circulated. which is not
10 be judged as in good faith. but to deceive.
will the company agree to bind itself by
the provision in the bill to pay the assessment
which the county would make up, on the val
ues of the company protected by the State
and county, or on its omission to pay have .
receiver TO collect the tax?
We may be certain that il would not.
There is no certainty that there is TO be any
more than fifty miles of railroad laid in White
Pine county on which the whole scheme is
based to secure the 100000 in bonds paying
interest ut ten per cent. payable semi-annu-
ally. When SO miles of road are laid and the
500. 900 secured, the road may stop for many
reasons; or it may be turned aside In another
direction, to connect with some other road or
company.
What redress would the people of White
Pine have? None whatever. The bonds
would have to be paid. The only consolation
the people of the equity would nave would DO
that it helped n lame dog over the stile. The
company would assert that it had performed
its agreement in laying down 80 miles Of rail-
road track, which was the consideration for
$4,000 in bonds. That this was all that was
required in the matter. and that nothing was
asked Of them to perpetuate a right of way in
the county; or in going, even If the fifty miles
Of railroad remained ixed in the county, one
mile futher. they would also say that the
county had received 100000 worth of rail-
road stock and must be content with what it
was worth in exchange for its S200,0J0 of
bonds.
Many things might prevent. even IL the
railroad company really wishod the road to
reach the Colorado river. that it could go no
further than the 80 miles in White Pine
county; and the railroad company would
thereafter tujoy and obtain payment Of tho
county bonds. without any abatement or
detriment whatever. And this for the reason
that tho Act provides that tho faith of the
State is solemnly pledged that the Act will
never be repealed nor SO modified as in any
way to impair the security of those who hold
or purchase the bonds.
And while tho county is to be bound hand
and foot, to help Spectators to build a rail-
road ut the expense of its Taxpayers, it Is 20
give away for that purpose S2J0,0O0 with ten
per cent interest, and it is to accept for the
$780, 900 it pays in gold S2OO.O00 worth of stock
that for many reasons may not yield a cent.
will tho people submit to it7 B. FRANKLIN