y4 if 1 nr in hi V i '4 THE BLESSINGS OF GOVEBSMEUT, LIKE THE DEWS OF HEAVEN, SHOULD 3E DISTRIBUTED ALIKE UPON THE HIGH AND THE LO W, THE RICH AND THE POOB,. EBENSBURG, APpIL 30, 1856. VOL. 3. NO. 27. NEW ' SERIES. T 15 II 51 8 : tHE DEMOCRAT & SENTINEL, is publish ed every Wednesday morning, in Ebensburg Cambria Co., Paj, at $1 50 per annum, if paid IS advahce, if not $2 will be charged. ADVERTISEMENTS will be conspicuously in serted at the following rates, tii : square 3 insertions, $1 00 tererv snbseouent insertion. ' 25 square 3 months, A. 00 00 00 00 00 00 6 12 80 15 6 1 roar fear, (C 3usine3S Cards. OO-Twelre lines constitute a square. . TREASUKEIt'S SALE, Of Unseated Lands and Lots in Cam bria County, A- D 1856. . I CHARLES -D. MURRAY, Treasurer" of Cam bria County, in the Commonwealth of Penn sylvania, in pursuance of the several acts of As sembly of said Commonwealth, directing the time and manner of selling unseated lands for taxes, DO HEREBY GIVE NOTICE, that the following described tracts of unseated lands and lots of ground, in the 6aid County of Cambria, or such parts thereof as may be necessary to pay arrear ages of taxes due thereon, for one year or mere, will be offered for sale at the Court House in the borough of Ebensburg, on the second Monday beins the 9th dav of June next, and continue by adjournment from day to day, until the whole be old, for such arrearages oi taxes ana costs, neces sarily accruing thereon. x Allegheny Township. Wames of warantces or owners. A. 100 410 810 96 425 120 100 91 120 62 61 100 103 100 812 885 401 r. 44 44 89 Taxes cts. 6 40 James C. Maguire Abraham White 1854 1855 12 12 6 20 9 6 6 12 8 2 71 13 40 44 CO 40 91 95 92 38 James Hannura Eleanor C. lliester Heirs of Walter Elder William M'Dougle (part) Warner Hanuuni lliffiin Ilannum Robert Whitehead Thomas Cloudeadale Blacklich Township. J. Jordon Jacob Fronkoiser Cambria Towniliip. James Means Carroll Township. Sarah Barr Wilson Barr Daniel Barr Lewis Barr Wm. M. Adams Peter Sawyer and James Lyons Euly Eager Chest Township. Walter Butler Richard Sealy (part) John Seely John Myers James Foster Henry Dolorier ' Jamos Hunter Clearfield Totonship. Mahlon Hutchinson Johnathan Lewis Simon Litzinger's heirs Hilary Baker William Will Jesse Bush Gcorf Horner (part) John Nagle Sr. Jacob Cox William Laraberk William Tilton Conemaugh Township. George Funk and Thos. Vicroy William Bcatty Alexander McGregor James Gill P. Shoenborger 7 10 10 65 9 18 12S 12S 103 163 20 21 22 21 8 8 3 7 0 20 10 05 60 00 55 54 832 65 100 100 106 400 119 100 405 477 895 413 100 433 233 830 315 9S 875 235 200 106 21 63 8 4G 8 23 6 11 14 6 14 7 11 14 9 12 7 6 10 6 11 14 14 6 7 9 14 1 14 14 14 I 21 11 11 14 5 10 55 73 66 106 91 69 158 154 11 C9 90 23 63 49 76 64 80 82 152 .80 155 400 400 . 150 -207 133- 120 400 400 400 400 400 40 12 09 20 20 35 44 46 King and Shoenberger George Moore Thomas Wilson Andrew Kennedy ' -James Roberts Charles Jones John Bell John Callin William Clark Adam Ream Alexander Cochran Benjamin Williams Richard Smith Johu Hay den , John Teeter William Brown John C rouse David T. Storm Samuel L. Gorgas Jackson Township. John Buchanan Wm. Hult Thomas Vickroy John Clark William Clark John Crawford Samuel Stitt John Steel James Steel George R. Shatp James Stitt Thomas Stitt John Stoner Christian Stonec Jacob Rupp John Hubley Abigail Ramsey Peter Bortman Thoman Whits John Simpson IJohn Ribblet Daniel Good Gilbert Lloyd , Solomon Benshoof - Eli Benshoof ; Richland Township Joseph Vicroy Elisha Rodgers . . Dantcjf Reese Storm fe King " . ' - Francis Devlin "Robert "Ross Jacob Clement SummerhiU Township. Christian Smith Arent ftounan John Nicholson ; John Evorman Isaac Brannan -Frederick Croyles Estat Jacob Goughnour . John Kean ' - ' Jokn TNoropsoa 20 20 20 20 20 42 89 53 20 20 C5 65 808 824 210 '400 155 300 -401 401 400 248 SO 40 21 81 126 141 25 14 14 14 17 20 20 20 65 13 11 37 01 54 97 62 44 30 80 30 13 90 96 30 20 20 76 10 68 38 76 10 80 55 41 82 487 414 283 422 220 290 400 400 400 SO 800 '800 300 200 200 405 100 3D 146 -403 .100 92 68 135 24 22 25 29 15 15 21 21 21 2 15 15 21 14 14 28 7 5 10 28 7 1 3 .2 2 S 12 11 6 5 12 11 8 135 25 65 63 76 63 437 .436 125 101 433 .401 11 400 190 439 4iQ 180 -.443. 400 66 00 67 S3 80 54 60 .120 4 74 240 88 54 01 73 76 47 15 34 34 120 80 131 40 28 44 34 03 81; 60 80 2? 271 Robert Evans (part) 430 13 1 John Nicholson 440 William Smith 200 Isaac Jones 220 John Simpson 100 William Clark (part) 440 Henry West Lots in the toon of SummerhiU. Amariah V. Ballou's Estate. Lot No. 2 21 83 34 15 17 1 63 97 76 80 33 90 84 76 79 Lot No. 7 m Susquehanna Township. 304 . 8 Mordecai Roberta 21 02 Wasliington Township. 81 Thomas Jackson 8 60 James Johns 8 69 1 23 James Magehan 15 176 John Taylor 9 80 439 George Cutwalt It 60 150 Peter West . T 35 1200 Arent Sonman 117 00 200 Christian LingenfeUer , 19 CO. 400 Fred, llinton 10 60 201 43 Francis John 8 87 50 Robert Flinn 1 30 1000 . Arent Sonman 98 00 400 John & James Kinport 10 40 400 . John & James Kinport 10 40 White Township 410 CI Robert Bogea 1 122 410 CO Mary Brown 21 12 410 GO Andrew Small 21 12 445 Alexander Drown 19 77 445 Thomas Brown 19 77 445 William Harris 26 28 453 James Harris . 2G 75 445 John Harris , 2G 28 446 James Reed 25 75 400 100 Wm. Servoss 5 90 400 100 George Hill, Jr. 11 80 250 John xMarshall 7 39 263 120 James Wilson 15 C4 208 109 William Georgo 18 88 199 87 Michael Musser 11 80 200 7 Abraham Whitniore 11 80 319 John Servosa 18 86 47 Jeremiah Musser 2 78 93 Jacob King 5 75 30 Thoa. S. Moore 52 333 Ann McMutrie 4 93 200 James Craig 2 95 200 Joseph Ashmead 6 22 25 Owen Jonea 3 54 300 James M'Miirtrio 4 45 350 Thomas Murgrtroid 5 23 360 John Brown 19 23 400 Patrick Boreland 5 90 203 Thoa. B. Moore G 49 595 T. B. Moore J. M'Murtrie and others 19 03 1400 Lloyd, Hill & Holliday 4180 400 Hugh Hollin 12 80 20 Graff and Malone G4 116 Thomas Town 3 25 ALSO, At the samo time and place will bo sold the foL lowing Seated Lands and Ixts of ground, on which the taxes remain unpaid, and which have been returned to the Commissioners, agreeably to the Act of Assembly of April 29th 1844. Allegheny 78 Silas Moore's estate 0 02 1 John Hatton 56 250 Dr. R M S. Jackson 18 37 30 " " 6 30 ! Joseph Lawson 55 . Charles McGovern 82 Daniel O'Keeffe 5 04 213 Patric O'Conner 3 27 50 John Burke's estate 1 60 J- Peter Carr 1 90 5 Keeffe & Ilowley 2 00 45 Thomas Kaylor 2 00 1 Lot Peter Murray 2 40 10 Penna. Rail Road Co. 8 43 Joseph llouk 4S ! George Weakland 1 50 Patrick Gillespie 1 25 Thomas Kay lor 3 G4 Blacklich Township. 50 John Ponahoe S 02 100 Wni. O'Conner jr. 7 53 150 Jacob Mardia 3 44 589 Mulford & Alter 18 41 i Carroll Township. 100 Henry Arble 1 10 1 Lot Mathias Bartrara 55 50 John Biller I 10 58 George Drinkle I 39 226 Nicholas Lambourn 3 73 CO Michael Thomas 99 50 Jacob White 121 Chest Township. - 48 John Helfrick 52 93 Isaih Hollis 1 53 Clearfield Township. 150 Joseph Adams 4 10 200 Daniel Kraft 1 70 380 M'Guire&M'Dermit 5 72 299 " " 4 32 433 John Anderson 2 80 436 Daniel Colclesser " . 3 73 245 Samuel Calvin ' 1 64 203 William Nelson 3 02 58 Simon Weakland 87 100 George Cowan 1 80 1C0 Daniel Colclesser 90 171 ' " 1 48 145 Samuel Calvin 1 39 94 Timothy Cawley 1 46 100 Michael Farrel 82 20 Luke M'Guire - 22 4412 James Ross 48 52 100 James Sargent 1 10 1 Lot nugh M'MulIen 2 10 .1 Lot Daniel Kline 10 50 Joseph Watt 1 5fi Johnstown Borough. i 2 Lota Daniel Beam for Cobaugh'a , estate 4 70 Jackson Township. Arthur Murphy Isaac Clark Charles Dillon John G arm an John Horner E. A. "Vicroy. Henry .Wagner John Murray Peter Dillon Toll House Philip Ahone . '-' '' Michael Dodso-j V ": 102 63 193 415 40 173 50 100 Y7 6 1 13 17 4 19 2 3 2 86 20 35 34 29 41 17 74 24 44 33 185 S George Findler 1 38 90 50 45 John Pergrin Isachar Rood David Teeter Toil house west of Laurel nni Richland Township. Archibald Dunlap Patrick Killin Elisha Movers; Jesse Layton SummerhiU Township John Egan Samuel Earnest Daniel Flenncr : John Trotter John Roberts Sarah Roberta Michael Benson's estate ; tt , ""Maria M array pari Fleet--. - wood Benson's estate Peter Ermire- - - Thomas Leonard nenry Oster Solomon Araigh John R. Crura , Patrick & Thos. M'Gough . xThos. Patterson's estate James Young . - John King ' SusqueJtanna Township. Henry Adams Johnathan Anderson Lloyd Hoke John M'Donald Joseph Plitt. John Plott Sr's heirs Isaac Evana J oseph Plott's estats John Dalton Alpheas TibboU 1 24 C6 85 2 49 55 . 55 "77 83 80 56 70 50 146 400 298 414 44 80 13 . 10, 72 80 18 01 18 90 60 40, 201 "Of 3 15 00 4 .1 1 2 1 2 4 4 5 2 6 1 G o 1 1 1 6 1 2 2 6 4 1 1 1 34 100 211 100 330 196 Lot Lot Lot 45 57 85 60 75 00 270 95 20 20 39 50 100 35 100 43 82 50 80 05 04 88 50 00 00 80 94 44 30 155 94 200 100 200 100 50 40 George Feith Lewis Kecth Washington Township G. W. Bowman John Dowd Patrick Fitzgibbona Daniel Hearkens 8 1 1 1 1 Lot Lot Lot Lot Lot Lot Lot Lot Lot Lot Lot Lot Lot Lot Lot i 2 92 2 08 Thomas Huitt - 1 James A. M'Gough 10 John Magan ;3 Martin Myers -1 Terence M'Elrew 1 John G. Miles 9 Michael Mori ow 1 George Rosa 5 Jamea Rusior 2 95 40 25 95 95 10 95 20 GO 30 95 G5 10 10 44 85 20 85 85 70 20 10 35 350 1 1 1 200 ' 1 40 1 1 1 Michael M'Laughlin James O'Conner Josiah Thompson John Ashley Francis Bennet -John Dillon Bingham tt' Brothers John W. Geary John Hagan James Henry Francis Henry" John Kinports John Kettly Daniel Kiler Sr Gideon Marlett Thomas Moreland Michael M'Laughlin William M'Laughlin Martin Myers -Terence M'Elrew James Noel 1 1 1 1 3 o 3 3 o 4. o 1 o 6 2 1 4 1 1 1 1 200 50 2 1 100 1 1 1 1 1 1 Lots Lot Lot Lot Lot Lot Lot Lot Lot Lot Lot Lot Lot Lot Lot Lot 75 10 09 10 1.10 2 20 John Wherry . 1 Edward Howard 3 Dennis Conohan 3 John J. Glass 2 William Garland 1 Henry M'Kinzie's estate 4 John G Miles 7 George Naglo 2 Samuel Short - 2 Austin Thompson 2 C5 58 44 20 05 G9 70 75 34 48 65 99 94 125 200 15 120 45 150 White Township. George Oshel Lawrence neburner 80 50 CHARLES D. MURRAY, Treasurer. Treasurer's Office Ebensburg ) April 2, A. D. 1356 J Public Sale of Valuable Property. THE undersigned will sell at private sale his well known property situated in Susquehanna Township, Cambria county, it ioins the farm of Wm. Glass, about 15 miles from Ebensburg. The Susquehanna and Ebensburg Flank Road, passes through the farm. The following are the improve ments, a new Saw Mill in good running order 4 Dwelling Houses, the one in which the subscri ber resides is a large building, having all the ne cessary conveniences attached a large Bank Barn, 100 feet long by 46 wide, Graneries, &c, 3 Coal Banks within 800 rods of his residence and immediately on the Plank Road 400 acres of excellent farming land, with a large quantity of Pine Timber, together with 150 acres of tim ber leave all the land lays on the Susquehanna river. Persons wishing to examine the property can call on the subscriber at his residence. Terms will be made easy to suit purchasers, as he is de termined to leave for the west. ISAAC GIFFORD March 19, 1856. CHollidaysbnrg " Standard' will please copy 3 months and charge this office, Orphans' Court Sale. BY virtue of an order of the Orphans Court of Cambria county, there will be exposed to sale on the premises, on Monday the 21st, day of April 1856, at 1 o'clock P. M. the following real estate,late the property of Griffith Lloyd, deceased, viz : One lot in the Borough of Ebens burg, known on the general plan of said Borough by number 54. Terms of sale one third of the purchase money to be paid on confirmation of sale, the balance in two equal annual pa j meats. to be secured by bond and mortgage. D. U. ROBEBTS, Administrator, of Griffith Lloyd dee'd. I: O. O. F. Highland Lodge No. 428 meets every WEDNESDAY evening at their Hall on High st., in the upper story .'ol & Clark's building. ' - - - .31 honnaker- 60 JUaiu line. Sale of the Public Works Opinion of the Canal Commissioners. A bill is now pending in the Legislature, entitled ' An Act to authorize the sale of the Main line of the Public Works." On the third instant, a resolution passed the House requesting the Canal Commissioncra to give their opinion of the propriety of the passage of the bill, aa well as of the "policy" of the measnre. In an able and lengthy reply, pre sented to the House a few days since, the Commissioners entirely disapprove of the sale of the Public Works, especially on the terms proposed by tho bill in question, We regret that we.Lftre not reom to give -the eomrrra-ti-cation oMhe Canal Board in full, as it ia a paper ushpuld le earefAHy read end ponder few ir t-rv tax-yer t&b Wo wealth. By the annexed synopsis., however. our readers will fully learn their views on the subject, and tlTo reasons by which they are supported. . . ... The Commissioners say : ... ' The main line of tho public imprtfvemcDts, extending from Philadelphia to Pittsbufg, cost in their construction, the sum of SIC, 472,- 034, as appears by tho report of the Auditor Oenerat and ofate lreasurert communicated fo the Legislature in 1854, to which mustte added the tonnage tax paid by the Pennsyl vania railroad company, the amount of which, last year, represented a capital of 3,000,-. 000. It is now proposed to dispose of this capi tal of 19,472,834 to the Sunbury and Erie rail road company, for the sum of 7,500, 000. A consideration of the bill now before the House, when viewed " as a measure of State f olicy," naturally gives rise to the questions : s the price proposed to be paid an ample compensation for the property and tax to be sold ? Are the securities for the payment of tho purchase money 6uch aa a prudent regard for the safety of the public finances would justify the Legislature in accepting ? Would the tax-payers be relieved of any portion of the present burthen by the sale ? Is the mon etary condition of the treasury "at so low an ebb to warrant so great a sacrifice of in vested capital? The Board are of opinion, that a fair inter pretation of the provisions of the bill must i a negative answer to each of these im portant questions. Ihe nrst question ' Is the price proposed to be paid an ample compensation for the pro perty and tax to be sold" is ably discussed and fully answered by the Commissioners. They say : . ' lo determine this question, the operations on the main line for the past fiscal year, may properly be assumed aa a safe and proper crite rion. The receipts on the main line in 1855. were as follows : Columbia railroad, 557,059 S9 Portage radroad, 18,150 09 Main line of canal. 243,007 77 1,118,217 75 178,523 39 1,296,741 14 909,893 72 Tonnage tax pioposed to be sold, Total revenue main line, Deduct expenditures, Net revenue, . 386,817 42 chowmg an interest of six per cent, on jg6,447,467i without taking into view the revenue due, but not credited, to the Eastern division. In the collection of tolls, it has been the practice to regard the works as one improvement. Under this practice, some of the divisions are credited with the whole of the tolls received at their offices, although the freight passes over other divisions which do not receive credit for any portion of such tolls. . The Eastern division is a sufferer from this rule. All the coal, lumber and other freights from the Susquehanna and the North and West Branch canals, destined for Colum bia or intermediate points, pay the whole toll at the offices on those lines, and pass over the Eastern division, a maximum distance of forty six miles, without that division receiving cred it for one cent of these tolls. The portion of tolls due from this source to the Eastern di vision for 1855, has been estimated at 100, 000, bat may be safely assumed at 60,000, being an interest at six per cent on another 1,000,000. It is thus shown that the main line and the tonnage tax cn the Pennsylvania railroad, paid into the Treasury, during the last year, a dividend of six per cent, cn a capital of 7,447,457.. . But this is not the most favorable view of the value of the property and tax proposed to be purchased by the Sunbury and Erie rail- roaa company. Ihe future promises a large ly increassd revenue from this source. Ti e tonnage tax on the Pennsylvania railroad, for the last year, amounted to 178,523 39, be ing within a very small fraction of the inter est, at six per cent, of 3,000,000. The road has yet but a single continuous track ; the other track being now in the course of construction. -Its business is yet in its infan cy. From its location, audits connections with all the great avenues leading to the trade of the west, there must ultimately be no oth er limit lo its tonnage but that prescribed by its capacity to transport. The improvement of the Ohio river, which will be accomplish ed at no very remote day, will throw upon its western terminus, at Pittsburg, an additional amount of freight, more than equalling that which it now receives from allita western con nections. It is therefore certain that the tax on its tonnage will continue annually to in crease that, before the last instalment will fall duo under the House bill, the revenues derived from that source will be doubled and that the value of that tax, which i3 now 3.000,000, will, by that time, be swelled to 6,000,000. This estimate of the tannage tax is regarded by maoy as entirely too low. If the anticipations of the sanguine friend of the road should be realized, the time not very far distant when it will yield i.n amount nearly equal to the interest upon tb otato debt. . Alio l'eonsyivania railroad uas to increase but little over the tonnage carried by the Reading road during the last year, to accomplish this result lhia source ot reve enue, therefore, stands prominently forward in the future, aa the brightest prospect which the people of Pennsylvania have for tue re deroption of tho public debt, and relief from the burthens of taxation. It should sot be parted with under any circumstances, bu more especially for the paltry sum proposed by the bill. It is the consideration for valu able privileges granted by the Commonwealth to an incorporated company, whose business has aimed a deadly blow at the interests of portion of the main line of canal. Sound leefclaiion dictates that it should continue to 1 flow into the coffers, of the Treasury', fur the penenj or tne people. - . - .. . The Commissioners also state that jhe'com pletion of the road over the Allegheny moun tain,, by which "the inclined planes have been avoided, will reduce the expenses" on "that xoad in 1856, 73,000 while the completion of . i . t r . i - i x m - Tr . - me Huntingdon and xsroaa lop liauroau, ta ken, in.connection with tho recent act passed oy iuo legislature, to encourage transports tiOn on the canal, will largely increase the re- ceipts of the Commonwealth from the Main Line. . . ' The caso then stands thus : The value of the main line and tax for 1855, was 7,447,- 457. The fact cannot be disputed,.that that value. for the reasons just given, must contin ue to increase annually. The Board cannot. therefore, perceive the policy of selling this source of revenue for the sum of 7,500,000 even, if the securities for the payment were such as ought to be accepted. The Commissioners base the preceding cal culations upon the presumption that the rail roads and canals composing the main line will all be kept open and in good repair. But there is nothing in the bill making it obliga tory upon the purchasers to do so ; and as it would be to their advantage to abandon por tions of tha line to the great inconvenience and loss of persons resieing along the same there ia everp reason to ' believe that they would do so. In that event,' the Commissioners argue that : There will be a great difference in the val ue of the property proposed to be sold. The point of abandonment, designated by some parties who have aimed to get possession of the public works at a low price, has been the whole of the line west of the junction at Duncan's island, or at" Huntingdon. The presumption may be allowed, that the bun- bury and Erie railroad company, u they be- come the purchasers, may adopt tnis sugges tion, which thdy certainly will if they nd,it to their interest. They will thus obtain for 7,500,000, the Philadelphia and Columbia railroad, the Eastern division, the value of the property and materials on the abandoned line, and thi Pennsylvania railroad tax These lines yielded to the treasury in 1S55, the following amount of net revenue : Columbia railroad, 136,039 39 Eastern division, 82,601 47 Tonnage tax, 178,523 39 Total revenue,- C97.8G7 25 The following expeuuitures arc not inclu ded in the statement from which the above is an abstrac t : Re-laying south track, (Col umbia Railroad; 139,100 00 Five locomotive engines, 49,500 00 Paten right for friction-box, 1,100 00 Cast iron turn-table, " 2,314 32 Addition to depot at West Philadelphia, 2,000 00 Steam hammer at Tarkcsburg shop, Laying pipe at water stations, Re-buildinir Downioctown and 1,200 1,934 00 87 Pequa bridges, 19,757 83 Re-building Swatara aqueduct (Eastern division,) 10,000 00 226,007 02 Ten per cent, on this amount ia 22,090 70 The actual net receipts for the year, on this portion of the main line, will then be as follows : Netieceipts as before staled, 697,768 25 Deduct for permanent repairs, 22,090 70 Actual net receipts, 075, 07G 55 These net receipts show that the Columbia railroad, and the Eastern division, and the Pennsylvania railroad tonnage tax, paid last year a six per centum dividend on 11,251, 275. .To this added the value of tne newly laid iron on the Portage railroad, locomotive engines, shops and machinery, and other prop erty on the road, and lock houses, lots and other rironertv on the deserted canal. Tho lowest estimate which can be placed on these items is 500,000. The value of thi3 portion of the property "which the bill proposes to sell to the Sunbury and Erie railroad company for the sum cf 7, 500,000, is thus shown to be worth to the Com mouwedlth 11,751, 275, and which, taking the past unfavorable year aa a basis of calcu lation, yielded to the treasury an interest of six per cent. This value would be rather in creased than diminished, by placing the point of abandonment at Huntingdon. That part of the Juniata division, when the Broad Top coal fields commence throwing their freights upon the canal, will produce a revenue beyond the requisite expenditures. Take the price offered by the company in either of tho aspects in which it is presented by bill No. 901 , it falls short of the actual val ue of the worka to the Commonwealth. If the line is to be maintained intact,-the propo sed sum ia not equal to the value of the works aa exhibited by the result of the lat year's op eration?," leaving entirely out of iew the cer tainty of the increased revenues which will flow into tho treasury if they continue ia thc possession of the commonwealth. " Bat if a portion of the line be abandoned, the disparity between the value and the offered compensa tion will be increased, in nearly a two-fold ra tio. It most not be understood tht the Board, in these remarks, intend to recommend an abandonment of any part of tho main line. The bill before the House gives ihe company that power, by which they will obtain for ?, 500,000, a property worth 11,751.275. If the interests of the people along tho line are to be sactificed by such a power conferred upon an incorporated company, by legislative action, true economy would dictate the rojec--tion of the bill, and tha retention by the State of tha profitable portion of tho line, and., the abandonment ot the other. Between 4,000,000 and 5000,000 would accrue to the treasury by the operation which would otherwise go into the coffers of. the company. The Beard,' entertaining these views, osv taiued as they are by official facts, opened to the inspection of every one, are, therefore, of the opinion, that the -price proposed to be paid is not an. ample compensation for the property and tax proposed to behold. -: -Are the securities for the payment of the. pnrchase money such -a a prudent regard for the safety ofiUte public finances oouUi justify the Legislature in nxcceptingf . , , , A iie second section .of. the ; bill authorize the company to issue 15,000,000. of bonds, bearing an interest of six per cent, per annum ; 7,500,000 of these bonds, together with a mortgage on the company's road, finished and unfinished, from Sunbury to Erie, and all their real estate in the city and harbor of .Erie and elsewhere, are tpbo deposited in the office of tbe btate Areasurer to secure the paymenUot the purchase money this is not required to be a first mortgage. The second issue of 7,- 500,000 of bonds, is to be tsecured by a first mortgage on tha canals and railroads pur chased faom the State 4,000,000 of which is to be placed in the' treasury as additional security for the payment of the purchase mon ey; and the remaiuing 3,500, 000 to be thrown into the market to enable the company' to progiess with their railroad All the secu rity that is here given to the State, 7,500;O0O . .. . . . in bonds and a mortgage on an unanisned. road : for it will bo observed, that, under the second issue of 7,500,000, the canals and railroads purchased from the Commonwealth, may be sold to satisfy the holders of the S, 500,000 of bends. . Tbe works now owned by the State may thus pass beyond her reach and sha be compelled to rely on the first issua and its securities for payment. If any cxigen- 1 a - .I 'M f cy should arise in the nuances oi tne state. these bonds cannot be used unless at a large sacrifice. Would it then be wise, would it ba just to the people of the Commonwealth, to part with a valuable and increasing property for a sum less than its intrinsic value, and that, too, where the security ia of tuch an uncertain character? That is a question presented by the bill to the consideration of Ihe Legislature,' and by that body ia must be decided. A he third section of the bill provides that the tax on the tonnage passing over the Peon- ylvama railroad bhall be collected and paid into tho State Treasury as heretofore, and credited to the Sunbury and Erie railroad company, on accouut of interest cn their bonds, until a single track f their road is completed to the harbor of Ei ic. This would seem to be an anomaly even in these days of enlightened financiering. The conDnY de sire to purchase the main line at less than its value. Not content with this, they must al t have included in the pale, at far below Its present value, a tax which is punctually paid iuto the Treasury. Or, in other words, when stripped of the terms in which the proposition is couched, they ask the State to give than the cash means from the treasury to pay the interest on their own debt due the Common wealth. Would the tax-payers be relieved of any portion of their present burtten by a sale un der the provisions of thiibiUf ' No sale should be made which would not afford an affirmative answer to a question so -intimately blended with the interests of all classes of our citizeDS. It is possible, how ever, to discover any such an answer in the provisions of this bill, should it become a law in its present shape Their taxes would not be reduced a single cent. On the contrary it has been shown by the statements in the pre ceding part of this reply, that the resources of the treasury would be diminished by a sale on the proposed terms. Is the monetary condition of the treasury at so low an ebb as to warrant to great a sacri fice of invented capital f The statements of tbetate Treasurer and Auditor Gen ral communicated to the Legisla ture, exhibit the finances of the Common wealth to be in as flourishing a condition as they ever were. There ia no prospect of a deficiency in the revenues no demand for a resort to extraordinary means to sustain the faith or the credit of the State. A sale for ihe sum mentioned in the bill would not prac tically reduce tho debt of the Commonwealth. It would be, in fact, merely disposing of tbe net cah revenues of the main line and the tonnage tax, for the uncertain payment of the iut-.rcfct on bonds of a fluctuating, and at present of an uncertain value a sale of pro- ' pcrty increasing in value for a sum far less than its present value a transfer of a source of reveuue worth at the present time, in ono case, 7.447,457, and in the othcr, 11,751, 275, tor 7,500,000 in bonds eecured by a moitgage on an unfinished road, the whole of which ia not even yet under contract. Is there any 6uch an existing condition of the Treasury would justify 6ucb a sacrifice. Tho board have thus frankly given their opinion of the bill, "as a measure of public policy," and as the ' propriety of its passage." In doing so, they have endeavored to keep within the requirements of the reso'utiou of the House. If they have in the lea ;t degree ! or in any particular, traveled beyond the re- i .
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