West Virginia Democrat. [volume] (Charles Town, W. Va.) 1885-1890, 1888-02-10
ion NAV he TINS described:


~ The county taxes have beeu
largely increased to pay the interest
on the subscription. The bonds is
sued by the county are all held
abroad, and the community, to the
extent of the interest which is to be
paid, suffers an annual drain Of its
productive capital. That is to say,
large part of the net earnings OF
the community goes abroad to pay
interest on the county debt.
(2) The managers of the new
highway are generally absorbing
the profits of nearly every private
enterprise along the road.
(3) The market value of property
has not advanced because there are
no buyers except persons holding
confidential relations with the man
ayers of the highway.
az Before the road was built the
property was owned by the home
people, but the property is now
largely owned by non-resldents.
THE EXPERIENCE OF JEFFERSON.
The county of jefferson has had
her experience in this matter. 1t
subscribed $250,000 to the Shenan-
doah Valley r. r. While the pro-
moters were manufacturing public
opinion so as to carry au election in
favor of subscription, they argued
that building the road would scatter
money; but the labor came from a
distance, the contractors had their
own stores, and, it has been estima-
ted that $4,000 outside of the cost
of the right of way will cover all
the money expended in building the
road, which remained in this county.
1t was argued that the new road
would cheaper transportation, but
there has been no reduction in rates
except such as also occurred at
points where there was no competi-
ton. 1t was also argued that the
new road would increase the value OF
property, hut it has not done so. 1t
was said that the county would re
ceive stock for her bonds, but the
road is so heavily mortgaged that
the stock is pnsaleable. 1t was said
that the railroad property would
pay large taxes, but while we are
drained of $4,000 year to pay the
interest on our debt, the railroad
county tax for 1882 did not exceed
$500. 1t was said that the county,
being stakeholder, would be repre-
sented in the management of the
corporation, but the county has no
voice whatever in its affairs; the
entire road is owned and controlled
bv non residents. We cannot pay
off this debt in less than twenty five
years and, counting average interest,
we will then be out of pocket say
$450,000, every dollar Of which
must be raised by taxation.
We do not say that the new road
has not been great benefit to this
county, but we do say that the ben
eft which has been obtained is not
worth one half, no not one-third as
much as it will cost us. The point
is, if this $45O,00O (Which will be
sent abroad was retained here at
home and occupied in productive
industry this county twenty years
hence, would be infinitely better off
than she will be after sustaining
this drain upon her resources. BE
it remembered that the annual net
increase in the wealth of such coun
ty is probably not more than one
half of the amount we will send
abroad annually during the next
twenty years to pay the principal
and interest of this debt. 1t is not
believed that this picture of Jeffer-
son is too highly colored and
her experience will be the expert
ence of many other counties in this
State.