The new dominion. [volume] (Morgantown, W. Va.) 1876-1904, 1882-05-27

the number of the bonds, the rate
of interest and the mode Of pay
ment. Suppose the vote to be
carried; the court may provide for
a plan like this : They may issue
bonds to the extent of 50, 900 dol
lars, bearing 6per cent. interest pay
able in IS years or less. This will
make a sum due for interest of
9, 900 dollars for the first year.
The court can provide that only
a small portion Of the principal
shall be paid for the first FIVE years,
say 1000 dollars per year-mak-
ing in all 10000 dollars a year for
FIVE years as the annual taxation.
Now the assessed value Of the tax
able property of the county is
4,5o2,o52 dollars, and to pay the
sum Of TO- dollars per year
would require levy of III TO cts.
on the hundred dollars. And it is
reasonable to suppose that, after
the first FIVE years there will be
dividend from the earnings Of this
road equal to the annual interest,
which will be decreasing every
year as part Of the principal is ex-
tinguished, leaving in fact about
1000 dollars to be paid annually
for 20 years. Thus it will be seen
that for the small sum Of 2 dollars
and II cents to be paid by each
taxpayer on every thousand dollars
of his taxable property, this great
improvement can be accomplished,
and a general impetus given to
all branches of industry. For the
want of this road the people of
Monongalia County are indirectly
taxed, in the way of high rates of
transportation, sum equal to or
greater than that which they are
asked to subscribe to it. They
ship every year about five hundred
car loads Of stock, for which, in the
absence Of competition, they have
to pay S dollars per car, but
which a rival road will ship for s.
dollars, or about 1 dollar per head
of a gain on shipment Of cattle
This will inure to the direct profit
Of the farmer and producer. 1t
will be seen that the total saving in
stock alone will amount to 10, 900
dollars per year, and on other ship
ments it will probably amount to a
sum equally as large
But it may be asked, where are
the profits of the railroad to come
from7 where is its business to be
had? To this question most salts
factory answer can be made, based
upon actual facts and not upon any
speculations. The probable. cost
Of this road from Clarksburg to the
State line is I, 200, 900 dollars. II
the whole were borrowed the an
nual interest thereon would be r.
900 dollars. Let US see where
this sum would come from. The
Baltimore and Ohio r r. Co. col
lects every year at Clarksburg alone
freights and fares amounting to
600, 900 dollars. At Fairmont
400, 900 dollars, exclusive of char
ges for transporting coal. And it
is fair to presume that Monongalia
County would furnish at least 100,
900 dollars in the way Of patronage
to railroad running directly
through it. OF the amounts now
collected in the counties of Harri-
son and Marion, it is probable that
one-half at least would be diverted
to a road running to Pittsburgh
and Philadelphia The people of
these counties are more solicitous
for the building Of this road than
our own, although they now have
the BALTIC. & Ohio. Their natural
outlet is towards Pittsburgh. The
account will then be about as
follows:
Receipts at Clarksburg, $500, 900
" /" Fairmont, 200. 900
:" Monongalia, 100, 900