New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-04-19
THE RAPID TRANSIT PROBLEM.
WHY THE CITY SHOULD BUILD THE ROAD.
MR.. scu1FF's ARGUMENT BEFORE THE CON-

K.
MISSION, WHOSE REPORT Is NEARLY DUE.
The Rapid Transit Commission is almost ready to
announce to the people of Newlork the result Of IL
deliberations upon the most important issue now be-
fore the community Scores Of plans have been ex'
amined and the number has been sfed down to six or
seven which seem of nearly equal merit. With View
TO assisting the Commission In arriving at proper
decision Jacob IL. schif, the eknown banker made
the following statement before the Board;
Mr. Chairman and Messrs. Commissioners Aetuated
by the desire to contribute my experience as DaiAx
to assist In the solution OF the question now 9l
metropolis secure rapid transit appear oe,Gss
YOU to-day TO present views upon the nnahcdl iuesoa
connected with the problem which 70 sove you hass
been appointed for no matter how Feasible ana pf1S
promptly round and upon reasonable se nr1Sesc
If, doubt not you VIII agree SiIii nie, eS IN
are the two fundamental conditions when aloHe cea
nn aIH ag pst that the plans Which shall be decided
upon shall be capable OF beng promptly put no AZ
cnOn and secondly ~ 5ss IS The arSment and
suggestions which now propose TO suonle Sloulu "
Ra1ld transit will necessarily have to be ATTAINED
either through the construction OF an unoergouhu ING
by yiaduct rsd Both methods nave adeia9 pea
proven signal failures. The MetropohItn anI Ds~. -
Companies Of London, the largest known ySS een an
underground transit, have for long period Oecn ID
Improbable burden upon their owners, anu even I'm,
after many years of development pay Hny an eroer
Stadtbahno the only existing viaduct road ior i1SI
transit backed when its construction NaS 81, 80
Inv the Rothschilds and group OF the strongest UT
man fnanciers Notwithstanding this the company,
at an early stage of ts existence became nnaac1l
embarrassed and could only be eXJrlcated az eIS ~
TO its stockholders with the assistance OF the G9ve
met which finally had to take over tS Sderroand
and the Berlin vaduct Companies, charge rare b,
Ing to distance and as believe tneF tS S"e eS1iye
OF the FIVE cents which it is assumed Is tie ohS ~, ray
practicable for any kind Of local transit IN t1e u" ~
It has been stated and probably correctly So thS
the actual cash cost Of eo etg of New viii be
somewhere between fifty and one huh1red ln,,V Z,
dollars with the probability that the higher neu0 "
II NV Statements thus far are correct can 1t reaso
ably be supposed that capital with the e1Per1esii LAM
already gained in similar undertakings. Will Ieadly
engage in the construction OF all unuSr-tUu Va "a
Of go uncertain a returns And if bankers could ee
found who might be tempted by the PIos,ptg;; ~
sne6 magnitude would they not as compensation 10,
the risks they would have TO take, require the GIeato
Of ora large rotTC as the growth Of traffic shall be
nerfed 70 hermit would have to be permanently pdf
d c ,raS oTieinally 1nanciered is generally KNOWN
These RAIDS we're practically built from the PrTceeus
is these lines now pay good dividends represents
the conversation which had to be paid ior ue riSA
canitalIsts took in embarldng in their CONSTRUCTORS
rben there appears to exist only one way IN wncn
Rand Transit can be secured promptly ana ecohONr
cSy and that Is 0g p ~ tbe expense Of the city
we'll aware of the many objections WIlCh nav iii lii
be found that in no other manner can Kappa IESn'"
be secured. ,-,..o. ,,u,,.o+o coni,a, IN
embark In the construction, winch IN my OP ao M
be found mpracticable, such an amount OF neulOes
would become So Sad mon the actual c
of construction would amount 10 not iess tnaa ~
cent qSs aaf v IN can an eady re the came capital
per cent, less than third since the Puono
% tc aSHe Would t It not be Cheaper to the people
they tax themselves to pay per cent oihih ~ p''
The principal objection which is made TO large
by the municipality Is the aet tlae M
open the door 10 corrupt appropriation Oh .g ,
Of the taxpayers The citizens OF CihcunL so,i
twenty years ago. became convinced that they colla
solely retain and add to Their southern trade Gy wv
construction of line OF railroad 70 give tner ~.
direct connection with the city OF CHATTANOOGA IL
line proved Of most GcS H Sa and
private capital. Notwithstanding large incncemenis
which held out could not be found with %a aen
her Commerce. had to have the railroad and under
the pressure Of public opinion, the city finally aver
submitting the question TO vote Of the people uhdet
took to construct what is now known as the CnclDhsu
southern Railroad. Under the law authorizing tns
elected or appointed consisting of citizens well SnoSs
Tor their public spirit and integrity These trusiesSi
and upon its completion IL was leased after compeu-
tive proposals had been invited TO an operating oo1d
pany, which has since held control Of IT, Inc spDsd
cincinnati, though 1t had TO incur heavy oond:a
debt and at high rate Of interest 3-lO per ,cn
provide the means for the Prosecution and compeuOn
If the work of construction receives full return upon
the money il invested and II the city had only ~
tanned fe right 10 call It's high interest bonds Mn,
II omitted TO do, that IL might nave Deen so "a
refund It's debt at the present lower rates Of &
would now he I'm recent OF a considerable pront rom
is Investment IN IT'S Southern Railroad. - oso,.oA
This is the method which vii have 70, 70 W
10 secure rarld transit for the city OF i'ew-l0hH. o
with municipal goveLn b intrpsiine tIs
superior to our own has been able DH d,S y, Soup
work 10 few OF her experienced citizens o. kno%g
integrity successfully 10 carry through an ~.
n considerably greater magnitude when comPaea 70
20 xetIe wealth and resources than the eonsTuct1n M
S jt systen will be 10 the city of New-l0rk
The later might certainly profit oy the eSper5Lnm
,rhioh bas thnI been gained. When ytlW pans sna.
have been matured and adopted; let their execution
ho ,Iaced In the hands Of board OF trustees or COM
NJ composed not of wellmown Democrats OF
Renblicans but q business men OF nmNerSSay
llnoyUledeed integrity and capaMlity Give these
frTstees full power to construct system OF tspI uS
81 according TO the plans which yOu may bnany os
o mon and empower them at the same time 70 lease
tbe system upon completion. The constitutional Oh
tac,es 10 the creation Of the requisite bonded dsnt
on the part Of the city can, as believe be reaay
III, q. - ,oesnta 20 attain
rand transit promptly, economically and SATISFACTORY
hnW d,ferenf attempt must either fail or VIII DO 50
SLOW of execution that it can be Of no benefit 10 o