Year: 1867

To the Editor Of the Press:


The editorial column of Fridays Press in
commenting the proposed city loan to the
Portland & Rochester r. r. Co., is made to saw
in the words of Dean Swit-'1f you like the
security down with the dust" Now beg to
suggest that the city has no "dust" to throw
down and no credit to waste, merely because
the security is good. 1t should all be sacredly
reserved for such public works as promise not
only security but rich returns to the trade to
the labor and the general prosperity of the
city. Apply this test to the Portland & Roch-
ester loan; what does it promise (not what do
its stockholders and directors promise) but
what does the road promise us that we have
not now? We have good railroad to Roches-
ter now only one mile longer than the p. & r.
would be. Shall we expend seven hundred
thousand dollars to save that mile? Will
the towns along the P. & r. Road
and north of it, which now for the
most part trade in Portland, be likely
to give us any more trade, when we build o
road for them to Rochester and there put To EN-
on the Boston and Maine, TOR Boston, giving
them the benefit of the cheap fare of that road
(say about one dollar the past season)?-
Shall we thus lead our customers into tempta-
ton, and pay seven hundred thousand dollars
for the privilege? But we are told that 1t is
to be through road to Ogdensburg. Who
knows that? Seventy miles of the proposed
route is not yet chartered, and may never be,
and if chartered itwould cost us about half a
million more to build it, and when built we
should have to pass over fifteen miles Of Bos-
tom and Maine road (by another name) to get
| to it, this road controlled as it is in Boston
must Always be hostile ground, within the
| enemies lines,-and even If we could make
some arrangement to use it, what reason have
we to expect that the Boston and Maine hav-
ing freight and passengers for Portland
fairly on its rails at Alton and at Rochester,
will switch them off on our road when it.has
a road ofits own all the way in? Are such
uncertain and hypothetical connections with
| the west to satisfy the commercial wants Of
Portland? In such an air castle, what prom
ise has the city of future greatness, to justify
the loan of her credit for seven hundred thou
| sand dollars? 1l1


But bonds for two hundred and fifty thou
sand dollars of the proposed loan are to be is.
|
Immediately, without any pledge from them as
to what use the money is to be put to, or how
to be disposed of. Rumor says that the Di.
rectors will build the road to Alfred with it
| perhaps they will, and perhaps they will not
But suppose they do and then have to stop
what shall it profit them or us, in comparison
| I mean with the outlay? Alfred is thriving
farming town, where the people own plenty Of
horses and carriages for their 1ocOmOtiOn, and
have the best of markets for their produce
within ten miles, at Saco and Bidde
ford. Will they kill off their horses and
do their marketing by rail twenty-five
miles to Portland? Will you build the flu
ture hopes of the city on such a prospect?-
But it is said there are two stores at Alfred In,
more and no less) Well, would it pay to built
ten miles of railroad and appropriate quartz,
of million dollars to tap those two stores


aad get their trade?-which, by the by, I uI


derstand we have now. Ridiculous as it may
seem, fellow citizens, you have to answer these
questions by your votes to-day. Let them be
such as to protect the city and save her credit
for some future emergency-some better devei'
oped and more promising enterprise.


Ihave thus far only endeavored TO show that
the public advantages Portland would reap
from a loan to the z. g. r! railroad, to extend
it to Alfred or Rochester, would not be such as
to Justify the measure at this time, even if the
security we're perfect. will now just glance
at the security, which is to be first mortgage
on the road, which road aud its appurtenances
and nothing else, the city could take in the
event of its coupons or bonds not being paid
when due. Now, no one, suppose, would
contend that this security of itself would b,