Year: 1859

Representatives.:


Nearly two months of the present session
Of the General Assembly having elapsed
without any definite action in regard 10 our
railroads, or any well defined policy having
been marked out in relation thereto, and as
already the question of adjournment is be-
ing discussed, with strong manifestations of
a disposition to adjourn at an early day,
feel constrained 10 urge upon the attention
of the Assembly the importance of maturing
some plan before adjournment, for the CON-
pletion of the several railroads now in the
course of construction, 10 which State aid
has been granted. No well informed man
can doubt that the best interest. of the State
demand the early completion of said roads;
or that suspension. for 4 time, even of the
work of construction, could be otherwise
than disastrous TO the companies, and high
y prejuiiciai 10 the welfare and prosperity
of the s ate.


IL Is urged, know, and truthfully, that
the amount OF State bonds that can be issued
under the recently adopted limitation of the
State debt will not be sufficient 10 complete
the several roads; and as they will all when
built 10 the points contemplated, become
leading thoroughfares of bu>lress and trav-
el, it i supposed that the friends of each
will insist upon sharing according 10 their
necessities and merits in whatever aid is
granted.


/ Under these circumstances, the Assembly
is called upon, am aware, to exercise lis
highest wisdom in deyising plan efFeclual
/ in lis results, and at the same time saiislact-
orilly 10 the respective local Interests and
TO the people at large.


! II is unfortunate that the limitation Of the
State debt had not been placed al a figure
sufficiently high TO have enabled the State,
under the system adopted, to finish the sew
eral enterprises in which it is already SD
deeply interested insomuch as it would have
added only few millions TO our debt-not
enough 10 have been felt by the State even
though it should ultimately have the debt to
pay, nor in the least to impair the credit Of
the State. A limitation 10 thirty-iive, or
even forty millions. (beyond which, even,
I il would have been safe for the State 10 60,
would have been as satisfactory 10 capital
lists as thirty millions, under the assurance
that the limit had been liked in good faith.
Nevertheless, when the proposition was sub
mi,ted 10 the Senate, two years ago, / sur
rendered my own judgement at the sOlicita-
tion Of others, the representatives. Of all the
railroad interests favoring the measure; and
although my vote was very reluctantly CIV
en-, voted for it, and the proposition was
carried by bare majority. The limit hav
ing been thus fixed, subject TO ratification
by the present General Assembly, and sew
eral millions of our bonds sold in the mean
time, failure 10 ratIry the amendment would
have been an act Of bad faith 10 our creditors;
and any change Of the limitation, subject, as
it must have been, 10 final adoption by the
next General Assembly, would have evinc-
cd degree OF vacillation that must have de-
stroyed all confidence in the public mind,
in the ratification of the limit thus extended.
These considerations induced me 10 soy,
that the proposed amendment should be a.
dOp:ed, and | still think, in view Of the con.
sequences TO our State credit, that no alter
native was left us.


But the adoption Of this limit, / trust, is
no: 10 leave an excuse for folding our arms,
and thus TO leave our roads in an uniinish-
ed condition. Surely the financial skill and
resources Of the State are not exhausted in
the adoption Of this prudential measure, and
the General Assembly, / hope, will not al
low policy to be adopted so suicidal in its
res ulls as that which must now arrest all
progress In the construction of our roads;
and thus, with certainty, cause the entire
Indebtedness Of the State of several of the ur-
finished roads TO become burden upon the
Slate Treasury. compelling the State TO take
possession OF and sell the roads, thus sacri;
fcng all the stock subscribed by private
individuals, cities and counties, and the lar
ger part OF tile aid granted by the State,
when little additional iberality, wisely
extended 10 the Companies, would, beyond
reasonable doubt, secure all these interests,
and perpetuate the influx Of population and
wealth, and promote the prosperity Of all
the industrial pursuits which have been so
generally stimulated by these great enter
prises.


The postponement Of action, even TO an
adjourned session in the fall, (the necessity
for which should be obviated if possible.
must prove highly detrimental to the public
interest at home, if not fatal 10 the railroad
al Ia Al