The sun., 1894-10-27
The Report OF the Rapid Transit
Commissioners.

The Report OF the Rapid Transit
| Commissioners.
After five months Of official life for some
Of the rapid transit Commissioners and
| three years and five months for others OF
them, we have at last an authoritative state
ment a. to what the so-cslled "rapid tran.
sit" scheme means. We know now the
most and the best that can be said by the
partisans of the rpeasure. The report OF
the Commissioners is as remarkable for
what 1t does not say as IL is for that which
1t directly affirms.
1t is striking fact, however, that the no.
called report is not signed by the Commits
sioners or put forth in certified manner.
1t will be interesting to know how many of
the members voted for It. 1t is matter of
current information that the labor over
the report was protracted and severe. 1t
treats only of one side Of the question, that
is the assumption that the scheme will be n
success, but 1t does not consider the other
and inevitable side, its failure as a paying
project, except to say that 1t Is the intention
of the Commissioners TO exact "a bond
which in the amount and the number and
responsibility of the sureties will sbundantly
secure" the city against the disastrous con-
sequences Of failure.
The city is to invest $50, 900, 900 in the
proposed railroad experiment, and as much
more as the Legislature shall from time to
time authorize. It is measure never be-
fore the subject Of municipal expenditure
anywhere, and il the 500, ,00O, 900 or more
are lost the taxpayers are to look to a suit
on bond for their indemnity. That is, so
far as the principal is concerned; we will
see presently in regard to the interest. The
Commissioners avoid the question as to
whether the city Is to be responsible for the
payment Of interest on the bonds. They
say the annual rentals must equal the inter-
est on the bonds, and they present the con-
clusion that the city Is thus absolved from
all responsibility. But in another place they
say that the city can borrow money at 81
per cent, whereas q private corporation
would be compelled to pay a much higher
rate of interest to market their bonds. II
the bondholders are to look wholly to the
rentals for the payment OF the interest, how
are they any better Off in that respect than
IL a private corporation should float the
bondsi The bonds for $50, 900, 900 or more
are to be issued during construction, and
where is the interest to come from before
there are any rentals earned' II, on the
other hand, the city is to be responsible for
the interest in the event of the failure OF
the grantees to pay the rentals, the tax
payers will have saddled on them in the
neighborhood of two millions Of dollars ad-
ditional taxes each year, or more, as the
amount to be expended is increased by the
4 T., ii q, 81. H.
proportion Of the principal Of the bonds To
meet the entire Indictment must also be
raised by taxation.
The railroad, they say, is to be at all times
the property Of the city. What does that
amount tor II the railroad should prove a
success, il is to be the property of the gran
tees of the franchise, from thirty-fve TO
fifty years at the beginning. with covenants
OF renewal not limited to a century. The
city is to receive under the law one per cent.
of the profits-the Commissioners say they
mean to get more II they can, and the
favored grantees retain all the rest. On the
other hand, IL the scheme fails, the city will
have subterranean excavation thrown on
its hands, to be a source Of expense TO look
after and a menace TO the public health
as perpetual nuisance. The bonds
TO be issued are to pay no city
or county taxes, and the contractors
are to be freed from taxation on the proper
ty required for the equipment OF the road
and their interest in the franchise. Besides,
all franchises deemed to be required for the
benefit OF the grantees are to be purchased
at the expense Of the city. As TO the char
acter OF the railroad to he constructed, the
Commissioners are required under the law
TO prepare detailed plans, including all de-
vices and appurtenAnces, "to what the
Board may approve as the best and most
efficient system Of rapid transit, in view of
the public needs and requirements" This
is the preliminary demand of the law, in
volving the official oath OF the Commission
ers as much and as fully as any other duty
assumed by them. 1t is a legal and moral
obligation.
1t is a misleading statement when they
say that they were compelled to take the
routes for an underground road which had
already been adopted by the former Com
missioners in order to submit the question
to the voters at the ensuing election. Where
was the compulsioni They were not to act
upon compulsion but on their deliberate
anu No ~ was oNPEcSN
judgment. That is what they were put
there for If they have not performed this
duty so unqualifedly imposed upon them,
il the plan is not their own, but that OF
others, how can the taxpayers place reliance
on their oficisl action, and vote submis-
sion 70 an unlimited responsibility COM
with fifty millions of dollars
They have had all the time requisite TO per-
form their duty completely, with the aid Of
the material for consideration and judgment
by their predecessors. When they
the conclusion in favor Of the
system, the public, in view of
the character of the Commissioners and
their oficial obligation, had the right to
assume that il was reached with all the
required in Law and conscience.
Il is TO be borne in mind that three OF the |