The weekly Floridian. [volume] (Tallahassee, Fla.) 1867-19??, 1882-07-11

8Ss4aSSs
There is nothing so successful as success.
Whether carping criticism may result from.
envy or prejudice during the development
of great theories or the execution Of
great trusts, success effectually obliterstes
from the pablo mind all recollections Of
such temporary opposition, which only
but displays the motives Of those who en-
deavor to create it.
Our Internal Improvement Fund had
long been hopelessly embarrassed and
was considered by the public and treated
by the courts as insolvent From debt
of few hundred thousand dollars imme-
diately after the war, it had grown to a
million dollars, with an annual interest
of seventy thousand dollars, which inter
est was made interest bearing as fast as
it fell due. The Fund amounted to some
thing over twelve million acres of land,
given to the State as swamp and over
flowed lands, under the act of Congress
Of September, 1850. The litigations
growing out of its supposed insolvency,
and the reckless transactions of those
who then had control of the trust-ad-
ded to the necessary expense of manag-
ing the Fund-consumed the larger por-
ton of the proceeds arising from the sale
of the lands, and left little or nothing to
apply even to keeping down the enor-
nous interest of seventy thousand dollars
which was yearly accruing.
Grants to railroads were of little prac-
teal value, as they were weighted down
with this declared first lien, and presented
no inducement to capitalists to assist in
promoting their development The very
existence of the Fund was at stake, as
the entire twelve million acres would
soon have been sacrificed to the demand
Of creditors. Legislature after Legisla-
ture had pondered over the best mode of
relief-the ablest minds of the State had
been questioned for suggestions, and all
stood mute in view of the impending dan
ger. But one relief was practicable
and that was sale of portion of the
Fund to secure the remainder. Prompt
action was necessary. Fortunately for
the Fund, fortunately for the State and
our railroad interests, we had those in
power who appreciated the situation and
displayed the nerve, tact and capacity to
meet it, and to-day, we announce the fact
with feelings of the liveliest qualification,
that for the first time the Fund is discum.
bered and clear of debt, with over eight
million acres saved, to promote the sue
cessful completion of our railroads, and
the remaining four million a source Of
perpetual revenue to the State. 1t is a
consummation long looked for-great in
its conception and grand in its perfect
success. And the time is not far distant
when every citizen of the State, as is now
the case with every intelligent mind that
understands the situation, will point to
this transaction as the finest piece of State
policy and true craftsmanship that has
transpired in our State, certainly since
the war.
In addition to this, litigation which has
so long hung as pail over our railroad
system is about closed up. The four OIL
Eve IuudI ell thousand dollars Of interes,
involved in these litigations, and for which
the Internal Improvement Fund was also
responsible, as well as the four hundred
thousand dollars principal due the first
mortgage bondholders of the old P. & G
Railroad, has been paid. The road has
passed into the hands of its owners and
the public breathes easier
These are great transactions. Theil
magnitude has never before been equalled
in the States history. Their management
by Governor Bloxham and his constitu
tional advisers has been pre-eminently sue
cessful, and if nothing else is accom-
plished, this administration will go dowr
in the history of the State certainly with
out superior. In common with every
lover of the State, we rejoice over wha,
has been done and the bright future in
store for u.s.