Savannah morning news. [volume] (Savannah) 1868-1887, 1883-03-28
LAYING the Foundation.

Absorbed in the progress of our own
great nation we pay very little attention
to the industrial affairs of our small neigh
bors in the Southwest, and although we
read that our capitalists have invaded
Mexico with our railroad system, we nave
not cared 10 examine their projects iur-
Their than to satisfy ourselves that the
United States are to be gamers by the
international enterprise. But this IS not
all if becomes us to inquire into, where
the prosperity and happiness OF TWO
nations are involved. The benefits should
not only be mutual, but should be
acceptable to the people of Mex
leo as well as TO the rulers,
who, so far as yet appears, are
to be the chief beneficiaries of the new lie
10 be infused into the languishing Repub-
lie. Even their benefits, however, VIII be
Daltrv as compared to those contemplated
bv our own capitalists, who, from recent
reports. have laid no less a foundation
than that of the future ownership of the
Mexican Republic, unless the chronic
revolutionary spirit of that people should
come to the rescue before the interests oil
our railroad magnates reach that maSnl-
tude which will enable them to settle the
final dispute with an American army
The bOldness of the railway invaders
almost surpass belief. The Mexican
Central has its main line COM
Melted 3l2 miles northwest
of the CITY of Mexico, and $50 miles sOuth
of Ell Pase, which leaves a gap OF 'Oo
miles. Its fourth subscription, recently
completed in Boston. aggregates, so far,
S31. l15-5OO. which, the Advertiser says, is
sufficient to complete the line.
As the subsidy of the Central by the
concession of September s, 1880, was $lo,-
2SS per mile, with some exceptions, ana Is
above $50, 900, 900 on the whole hne. it can
scarcely be less than $20,OO0,OOO on the
300 miles main line, which, added TO
S31. 115. 800 subscribed, should give above
$50. OOO. 600 to build the road, or nearly
twice what it will cost.
ITpon this the New Orleans Picdyahe
properly remarks:
S.President NickersOn's circular pro
posal of April -, 1882, the road BENG
ALREADY an assured success, O1ered SUD-
Scribprs for 1850 cash the generous sum
of 900 stock, $1,000 thirty-year . per
centrm first mortgage bonds and 81 900 IN
come bonds-tetal $4,000! This Is the
conservative and excellent Boston imam
ciering, and is intellectually better IMAM
Wall street methods. The net result OF
this Mexican affair will be that Mexican
traffic must pay interest and prlnclpal on
stock and bonds double in value 10 the
| cost of the roads, besides donating 10 the
railroad milIiOnaires almost enough money
to build them in the first place.
SIN other words, Mexico must pay 10
the magnates nearly enough money to
| build the railroads and allow the COM
panies to stock and bond them for twice
| the cost. She will also, probably, after
parting with her money, have to forever
| nav interest on it in the freight charges
necessary to pay dividends on the stock
and bonds. This may be brilliant imam
ciering, and the liberal officials VINO are
dealing out the public wealth in this way
NAV regard Mexico as rich enough to
stand it, but they are doubtless ignorant
of the fact that not even the most pros
porous of the United States have been
able to bear any such burdens.
sSThe Government of Mexico is just now
zealOuslv seeking to hide from the people
the true magnitude of these grants to
railways, and the administration organs
DENY the figures of the Plcdyune, $l0O,OOO,-
600, but the day is not distant when
trouble will grow out of these lavish
gifts"