OCR Text |
Show THE TEXAS PACIFIC EAILBOAD. The Cuuricr.Joiirnal announces as a "startling fact, that there has been spent about $100,000,000 of public money on public improvements in the northern sUtes, while the expenditures in the south have not exceeded $17,000,000, notwithstanding notwithstand-ing the southern section has furnished one-half to three-fourths of the exchange ex-change with which tho country has paid its foreign debts. The prosperity' of the United States, it contends, would have been impossible without the south as a consumer and feeder, yet the general government has persistently per-sistently followed a one-sided policy, paying little or no attention to the vast producing intei:sU of the south except to limit their profits and productiveness. pro-ductiveness. Tho tariff legislation has been made to discriminate against ! southern products and industries, and : while the British government was spending hundreds of millions of dollars in developing the cotton production pro-duction of India, the United States ! - government was taxing American 1 cotton ! The government has ex pended in principal and interest upon the present Pacific railroad system about tP3.000.000. Thea railroids aro op-vat M fir the j oxcluiivo ber.elit of tho northern t-ti!.- and torr;tori-, and the impoveriiiicj south has bflen heipinjc lo Py for thorn. Too min line I-'&tus b'fudtlt of coun I try to th south 4uO to 7u0 miles wiJo, to j all of which it is commer-ini ly inncce- ' giblo. Tnis tion has a populnti-.n of jibout M.O-avaiO of po - pip, wini.Ri'.), 1 bv.ve s-ud, s-ipttly on"-l:!f to line - 1" urlha (in ts'u-) cf tho tola1 fin-irso!" United S'.ates. The population uro in an impororiihM condition, however, and are wil'iout railroad ! facilities or the rear to create thorn a , ; H ii. lirirncy whii.h i'npo'8 un impais- ,' able (turner ii"n tho proper dfcvcl.'p- ; jr.(-;t of lb..'ir res "arc '5. It. is tho wi-h tjf'.lio viv-t mnj riry of ttie peoj.le in : fcrry south -rn -wn iha th" (overmnenl iii-J in .poi,i:i vhrotili t' e south -rn half ' m" ;!i's L ui-iu a 'nr -jor.'-inentnl line con- t tinf tt.j Atlantic and l'a-ilic oc-ans 1 " ' wiiich wiil n-t only in itif 0-n t i tiio marke'i of U. w.irid s-uuo of tho , )t srtcL;ons of tho L'r,i.l S-.il-, but J ' vi,l al o bring !r..d.- ai 1 r. -icwn-l m- iv- ' )ity arid pro-porily tot- i E"nri rai.road , I v-t'?m, now in a cor.ditij:t .! oitrtnuo i d. predion. The government 13 not ,nked to uti a it- liar of public m-.n-.y, as it 'Ii.! in huiMr K l'a.:ii:c railroad for th.: n-vih, hut merely t' K.vo tho ere lit ..f i'.n p-o!.'.'d r fid an und"ubt d '.aniliiii; in 'h" - .iurk'--u .'f Kurope, no Lt.jit it -: r--'-' rn ' ey on its own oMi-..:iti.-i..j. In ti.n lulii of th- rxporienco ,,r Ui.oti..T I'l.cilic railr..n.l, Hie pro-,.,i.-d r,,ad w-uld b.j in coi.diih.n to l'ur-u. l'ur-u. nli tin) (overnmeot ample tfuararilce Mmif t c s by r..(i6-"i of it, eiidur-'-ment, n . tim inn. Jiuit at f tk will ho only one-lifih one-lifih of ihe earning of the Central-Union Pacific, whi t; ir..; ?outhern rou o will by hiioricr and will Lave a Lctt-v trade to depend on. 'I lie form-r are earring over ijuu p-r nul-, while the latter n:d v irn only $! 7nu to moot tho pr-p'Jitd pr-p'Jitd ii.tL-rtsl jfuaraiiLco. The Cuii rier-Juu nid ulso shows the boindit to the northern states by the construction of a competing lino, j which gives New York and Boston a , shorter transit to the Pacilio than the .existing monopoly roads. The epirit with which the latter treats its patrons pat-rons is shown by its course last spring after congress adjourned without acting act-ing on tho bill for the aid of the competing com-peting railroad. Tho following table shows the old tariff from New York to San Francisco, and tho new one put in operation by the Central Union Pacific, on tho adjournment of congress : Old Now Addi'na Cr-le.id. Tariff. Taritr. TrotH i'lrj -,la-8 50) ll.'.'OO jiO e nnj.-.:hg3 1(0 1,mh) GJU Thir.i-cla (i . as.) SO) I'.-urth olwa K) Sl0 2i0 Class A...- 310 otM ItHi class H ;-J0 i'JO SO '''si C.... :0 3i0 60 Clasd D - I2sU SOU SO And the subjoined table shows what profits tlio monopolist system made on the use of government capital in the fiecal year ending June 30, 1S75 : Railroad. flros Earn'c. N'ot Profi'K Oentr"! Pnoia- Sia.i-e,7(iu l is,J;;i,:i!i7 13 f-outhern P-ciGo... I . TtiO fy 62 t'ST.oji lc Union l'cio - U.iJJOU 51 B.HS.-HT C7 li.acaas I'acttio :,:)'!, i A v 1;1V2J&1 S Total S3.),:jl.717 18 (10,379,6 53 The above figures evidently furnish the best argument which could be male in behalf of tho Texas Pacific railroad;, but we fear that the south em appeal comes a little too late in the day to be successful, at least prior to the presidential contest of this year. Tho credit naked for would undoubtedly be a better investment than the immense subsides granted to the Northern Pacific railroads, for there seems to bo a probability that the treasury will never realize anything any-thing from the nearly $100,000,000 poured into the coffera of those Credit-Mobil Credit-Mobil icr companies. One principal reason for our long existing business depression, is to be found in the destruction of the southern system of industry by the war and the foolish reconstruction policy which kept fresh capital and labor out of the southern states, and turned their gov ernmtnts into the hands of adventurers, adventur-ers, carpet-baggers and ignorant negroes. As a simple business investment, invest-ment, the Texas Pacific railroad would soon pay the government by the increase of its revenues, principal and interest, and all parts of the country hwe a greater or less interest in the building of the proposed line. |