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1866-67.] Document Ko. 24. 95
if tins scheme of consolidation is successfully carried out, that
in less than five years after its completion, the net income of
a single year will pay every debt now owed by the three cor-porations
; that the net income of the next two successive
years will pay the whole cost of the completion of the road
to the Tennessee line by the nearest route ; and the ]iext
year or two years's net profit will pay the whole cost of the
road from the ibrk to the Teiniessee line by the other route
;
which will be the more direct and profitable line—the con-struction
of both of Avhich lines, in due time, I would most
earnestly recommend.
I take it for granted, opposition to the consolidation of the
Road will arise. To witness the struggle of the lines now
connc ctiug with your Road, for the little sti'aggling freight
that now passes over it, is presumptive evidence that they
will resist consoHdation, lest all the freight will pass directly
to the ocean by your own line. Heed them not! Consult
only t!ie great interests of your own State and of yourselves
and tliereby you will consult even the interests of these op-posing
lines, if they but knew it.
The drippings and leakage, by the wayside of this great,
overtaxed freight trunk line will give them moi*e freight than
your \\liole Road now yields tliein. Besides, this higgling
and underbidding about the price of freight will cease, and
your R<)ad will dictate its own terms of transportation.
"With this great freight line terminating on your oirn ex-cellent
harbor, what commercial advantages may we not hojje
for?
But there are those who pretend to doul)t the capacity of
our luirijor for extended commerce. Refer such sceptics to
the fleet of upwards of iln-ee huruh-ed war vessels and trans-ports
which so lately rode safely on its bosom. Our own
lines of weekly and monthly steamers will carry our own
produce, in our own vessels, frotn our own port across the
Atlantic to THOSE who do not trample upon our rights, nor
impose taxes without representation.
We shall then avoid those wasting exactions made at the
North in the charges for freight, fire insurance, marine insu-rance,
advertising, city taxes, wharfage, drayage, storage and
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| Title | Page 573 |
| Full Text | 1866-67.] Document Ko. 24. 95 if tins scheme of consolidation is successfully carried out, that in less than five years after its completion, the net income of a single year will pay every debt now owed by the three cor-porations ; that the net income of the next two successive years will pay the whole cost of the completion of the road to the Tennessee line by the nearest route ; and the ]iext year or two years's net profit will pay the whole cost of the road from the ibrk to the Teiniessee line by the other route ; which will be the more direct and profitable line—the con-struction of both of Avhich lines, in due time, I would most earnestly recommend. I take it for granted, opposition to the consolidation of the Road will arise. To witness the struggle of the lines now connc ctiug with your Road, for the little sti'aggling freight that now passes over it, is presumptive evidence that they will resist consoHdation, lest all the freight will pass directly to the ocean by your own line. Heed them not! Consult only t!ie great interests of your own State and of yourselves and tliereby you will consult even the interests of these op-posing lines, if they but knew it. The drippings and leakage, by the wayside of this great, overtaxed freight trunk line will give them moi*e freight than your \\liole Road now yields tliein. Besides, this higgling and underbidding about the price of freight will cease, and your R<)ad will dictate its own terms of transportation. "With this great freight line terminating on your oirn ex-cellent harbor, what commercial advantages may we not hojje for? But there are those who pretend to doul)t the capacity of our luirijor for extended commerce. Refer such sceptics to the fleet of upwards of iln-ee huruh-ed war vessels and trans-ports which so lately rode safely on its bosom. Our own lines of weekly and monthly steamers will carry our own produce, in our own vessels, frotn our own port across the Atlantic to THOSE who do not trample upon our rights, nor impose taxes without representation. We shall then avoid those wasting exactions made at the North in the charges for freight, fire insurance, marine insu-rance, advertising, city taxes, wharfage, drayage, storage and |
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