Mr. DAVIS had no doubt of it. and such would
be the answer of every candid practical man.
The Reading railroad had been very recently
and very often instanced as an enterprise which
could successfully compete with canals. The
large amount of tolls collected on that road had
been frequently instanced as a just comparison
with canals. He found that in 1820, 365 tons of
coal were carried over the road, and in 1849 it
had risen to 3,212,641 tons. So it was not won-
derful that a work so successful should be cited.
They were told that this company all the time
had been competing successfully with the Schuylkill
navigation company, and that it had been
making money. This railroad was on a dead
level, except at the termination, where additional
power was placed. Upon some of the rail-
roads in this State, they had about eighty-four
feet grade to overcome. The Reading railroad
consequently had a very great advantage in this
respect. The estimated cost of this railroad
was five millions of dollars. In 1845, its actual
cost had reached $10,300,000. In 1850, its ac-
tual cost had reached, as stated in their own
report, sixteen millions of dollars. So that wrong
estimates had occurred out of Maryland, as well ,
as in it. Every practical gentleman then, if he
would confess the truth, would say he had made
errors in estimates. Gentlemen held that Mr.
Fisk alone should be held responsible for all of
this waste of money; that a great deal had been
wasted in negotiations and otherwise, he would
admit, and had never been appropriated towards
the construction of the canal. This was much
to be regretted. Gentlemen should not be forgetful
of the immense stocks Maryland had in
this work. He appealed to gentlemen all around
him, who were tax payers into the State treasury,
and asked them if they were not somewhat
concerned in lending their efforts to make that
work productive, and to return the money to
the people, for the heavy burdens they had been
paying towards its completion?
In the appointment, of this board, they must
look to see whether they had gentlemen of char-
acter and ability, who would look to the true
interests of the State, and who would do all in
their power to render this work effective by the
organization which they might adopt. Gentle-
men who would honestly and faithfully, and
without prejudice or partiality, discharge the
duties imposed upon them.
He had already worn out the patience of the
Convention, and he had to return his acknowledgments
to those who had been kind enough to
give him their attention, and as a just requittal
to them, he would resume his seat.
The question then recurred upon the adoption
of the, substitute as offered by Mr. THOMAS.
Mr. HOWARD moved to amend said substitute
by inserting after the word "stockholders" the
following:
"And shall appoint the directors in every rail-
road or canal company in which the State has the
power to appoint directors; it shall also be the
duty of this board to review, from time to time, |
the rate of tolls adopted by any company, and
use all legal powers which it may possess, to ob-
tain the establishment of a rate which may prevent
an injurious competition with each other to
the detriment of the interests of the Treasury of
the State, and report their acts annually to the
Legislature."
Mr. HOWARD did not intend to make a speech,
but merely wished to say that he had but one ob-
ject in view, which was to prevent the continued
existence of an evil which he believed would not
be doubted, and that was, that these companies
underbid each other. He did not know that this
fact could be disputed.
Mr, SMITH. I deny that that is a fact.
Mr. HOWARD blamed no body, censured no
body in the companies for this.
Mr. DAVIS though that it would facilitate this
discussion if they were possessed of all the facts.
The gentleman had better, perhaps, give them.
Mr. HOWARD did not wish to state the facts,
because it would bring in the names of gentle-
Mr. BROWN desired to assure the Convention
he did not intend, nor did he make any assault
upon the reputation of Mr. Fisk. It originated
with the gentleman from Washington, [Mr.
Schley,] who spoke of the fact that Mr. Fisk
had been kept in as something to recommend the
company. He [Mr. B.,] had spoken from recol-
lection of the estimates acted on. He thought
that he voted upon the estimates of Mr. Fisk, tor
the eight millions bill, when it was before the
Legislature. If he was not mistaken, a large
portion of the work was done by Mr. Fisk.
There were other estimates which did not prove
good.
Mr. DAVIS. I have no doubt of it.
Mr. BROWN said that that was what he intend-
ed to say He told the gentlemen from Wash-
ington that he thought his argument was against
himself. He told him that he thought those who
were paying taxes, knowing that they grew out
of these estimates, would not be in favor of him
who had made them.
Mr. DAVIS was very glad to hear the gentleman
disclaim intending any injury toward Mr.
Fisk.
The question was then taken on the notion of
Mr. BROWN, to strike out the report of the committee;
And it was agreed to.
men whom he did not wish to mention. He de-
sired not to state any further fact than that the
thing existed. He would go no further. If the
thing was disputed or doubted, he would have to
refer to facts and to names, though he did not
wish to do it, nor did he wish to censure any
body or any company. Those who did so were
actuated, he had no doubt, by a very trustworthy
motive—that of inducing trade to pass along their
route, and thus contribute to the revenues of the
company, as well as to the revenues of the State.
But this thing might be carried too far, if it had
not already been carried too far, which, in his
opinion, it had. The State of Maryland was
certainly in a very extraordinary position. She
had been very liberal in her donations to these |
