The Republican journal. [volume] (Belfast, Me.) 1829-current, 1906-09-06

dians as against the interests of the
State of Maine wherever they clasheo:
1t was a great undertaking to build
this road into the wilderness. The
all important thing was to be able to
secure the necessary funds.
4 In order to accomplish this. the pro-
jectors must necessarily have aid. The
plan proposed was for Aroostook
County to aid in the construction OF
the road by subscribing for the pre-
ferred stock at the rate. Of 100000
mile. Aid was then asked of the
State.
The State Of Maine. in common
with many other states In the Union.
recognizing the duty which rested up.
on it to provide proper means OF
transportation for its citizens. had aid
to towns Ms in e the u State had Contributed
literally toward the building of some
lines. The government of the United
States had contributed largely toward
the building of the Pacific roads And
when the Bangor & Axoostook road
came asking aid. it was conceded that
for the State than to do its portion
towards securing the building Of this
road
No direct contribution was asked,
but exemption from taxation for such
a period of years as might be neces-
SltTy u puHu up A4lS tOGNA anu NSFSASf
the country and its business was
sought.
Everybody understood that it was
exemption from taxation which was
asked; but in view of the constitution
al provision In regard to taxation, some
members Of the Legislature thought
that it would be better to grant the
taxation in the form of contract OF
some kind with the road.
Carrying out this idea an act was
introduced, authorizing the State
treasurer to contract with the road for
the carrying Of troops at price to be
paid to it yearly, equal to % per cent
OF whatever tax the State might levy
upon the railroad. This plan met with
universal approval, and the acf was
passed for the purpose and with the
full understanding that it was to ro-
| suit in an exemption for tho period OF
the contract
The Legislature which passed this
! act contained many strong men. The
dean Of the house was Maj. William
Dickey Of Fort Kent, lifelong Demo-
cratic war-horse. His interest in this
| measure was great. and he used all
| his great influence In the Legislature
! One of the promoters Of this road who
| came to Augusta and was active in
his advocacy Of the measure was the
Hon. ]. P. Bass OF Bangor. lifelong
Democrat.
In the Legislature Of 1891 Col. Chas.
H. Osgood Of Lewiston. was member
of the railroad committee to whach
was referred the bill authorizing the
contract with the Bangor & Aroos-
took for exemption from taxes. This
measure had the active support OF Col
Osgood He has long been prominent
in democratic councils, delegate to ma
tional conventions and Is rich stock
holder and officer in the corporation
publishing the McGilAcnddy organ In
Lewiston and was prominently men
toned as democratic candidate for the
Legislature from Lewiston. this year.
The proposition came before the
Legislature as business proposition
Party lines were not drawn nor
thought of. The act was unanimously
passed, without dissenting voice or
vote Of Democrat or Republican.
But this exemption from taxation
was not enough to secure the building
of the road. This afforded them no
ready means. but only aided them in
operating and developing the road
money needed for construction. the
County OF Araostnok subscribed for
the preferred stock at the rate Of $5.-
10000 per mile. Whether or not the
county should take this action. was
submitted to she peqRse Of the e. eeo fs;
! $500
vote was 52Q1 yes, and sos no. Here
again no party lines we're drawn. 1t
was simple business proposition
whether or not the benefit to be de-
rived by Aroqstook County was worth
the expenditure, The larger towns
and business centres. containing men
who appreciated what the road would
do. We're almost. unanimously in favor
of the road. In Fort Fairfield the
vote was 4O2 yes, and 4 no; In Pressure
Isle, SAB yes, and l no.
Under the authority of this vote, the
county of Aroostook purchased and
paid for in cash at par, preferred stock
to the amount of almost three-quarters
of a million dollars. $728,0o0.00 to- be
exact The county Issued its bonds to
raise this money, and paid interest up
on these bonds for years at 4 " per
cent receiving no dividend upon the
preferred stock. until 1901. when the
railroad company purchased the pre-
| ferfed stock under contract from
which the county has received sum
sufficient to pay tho interest on its
| bonds since that date. and will eventu-
| ally be reimbursed for the original ex-
penditure.
Aroostook County has never COM
planned of the trade it made. The
$50, 10000 or more In interest money
which lit paid; during those ten years
for the sake Of obtaining the road. has
been offset a hundred fold each year