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Show COMMUNICATION Money for Railroads. Hayden. Utah, Feb. 11, 1U.. Editor Tribune As the matter of (setting (set-ting the government to complete the construction con-struction of tho Moft'ut road is V.einj discussed dis-cussed by our legislature, and I think there is considerable opposition In. this country to government ownership of railroads, it may lie opportune to state a few facts us to how oihor cuuntrieH eueeefsfully rai.se money for the construction con-struction of railroads. In Australia, tf the people want a railway rail-way through a certain part of the country coun-try they petition the government; the government then sends experts into the country to report on the feasibility of constructing' a road and the probability of sueh a road paying Interest on the cost of construction. If the leport is favorable, fav-orable, the government then borrows money from England at about 3 per cent interest. In a few years the ruad will probably pay o or 6 per cent, thus netting net-ting the government a neat profit. In the East Indies they have a different system, and I am inclined to think it would be likely to meet with less opposition oppo-sition here than, government ownership. They have what they call government guarantee roads, and the system works admirably. A promoter wljl get the government gov-ernment to issue a guarantee that the proposed road will pay 3 per cent interest inter-est on all stock. lie then goe3 ahead and sells etook for the required amount to build the road, which be has very little trouble in doing. Of course, tho government govern-ment holds and exercises control over the road, and they .are not out one cent, or, rather, one anna, over the transaction. Thore may be some cases where the government gov-ernment has liad to mako good the guarantee, guar-antee, but I am not aware of any such cases; nor am I aware of any opposition from competing" roads (I was at one time a contractor on the Southern Mahratta railway, n government guarantee road). Now, I do not wish it to he inferred that I am trying to knock the movement to get the government to build the Moffat road. In fact, I am a thorough believer In government ownership, Eut I think It advisable to consider which plan would be most likely to succeed. I would suggest that the government be petitioned to adopt the guarantee plan In building the tunnel through the divide di-vide ; tlds would be a na tional highway, and sbould be available to ail roads. If the government were to guarantee 4 per cent interst on all stock. I do not think Mr. Erb would have any difficulty in raising rais-ing the trioney in Colorado and I'ta'n. There is lots of money in the banks that is only earning 4 per cent Interest, and !f the owners of tliat money were sure of their 4 pr cent Interest it certainly would bo cood buslneps policy for them to buy stock In the tunnel. Tn my opinion the tunnel would be a paying proposition, and if the tunnel was once assured the national sovernmont or the state, would incur very little risk in guaranteeing the completion f the rn.id to Salt Lake. OKOKOH MADDKN. |