Maryland has not realized anything, and I
do not believe it will realize a dollar for years
to come.
Mr. MILLER. Will the gentleman allow me
to ask him a question; whether it is not a
matter determined upon by the city council
of Baltimore, to sell out the interest of the
city in the Baltimore and Ohio Railroad?
Mr. THOMAS. No, sir. I will tell you what
it has been determined to do; and I will ex-
plain it. I hold in my hand the message
from the mayor of Baltimore last year to
which I referred when making my remarks
in relation to the reconsideration of this
question. He says:
" The city holds in this road her subscrip-
tion in stock, of three and a half millions.
A loan to aid this road, made in 1844, of five
millions less the sinking fund of $850,000,
reduces the loan to $4,150,000, and the extra
dividend stock of one million fifty thousand
dollars, makes the city's direct interest in
the Baltimore and Ohio Railroad, $8,750,000."
The Baltimore and Ohio Railroad Company
refused, and were allowed in a law suit, in
which I was counsel, to refuse to the city of
Baltimore, the extra direction, for this extra
stock, and consequently the city of Baltimore
conceived that it was her duty, inasmuch as
that stock was unprofitable to her and gave
her no corresponding control, to sell it; and
she did so.
I will tell the gentleman another thing, in
relative to those stock-jobbing operations,
that Baltimore city owned some $1,500,000
interest in the Northwestern Virginia Rail-
road; and for the last twelve months the
Baltimore and Ohio Railroad Company has
been endeavoring to get the mayor and city
council to sell her interest in that road, first
making an offer of $500,000 for that interest.
But the mayor persisted in refusing to sell it
for less than $1,200,000; and at last the Bal-
timore and Ohio Railroad closed the bargain
and took the stock. Why did the city do
this? Merely because the Baltimore and Ohio
Railroad Company went to work and bought
a mortgage in the Central Ohio Railroad,
which has no more to do with the State of
Maryland, than the Erie Railroad in New
York, and which connects with Parkersburg,
and which takes a certain amount of trade
from the Baltimore and Ohio Railroad, and
the Northwestern Virginia Railroad, con-
trolled the trade upon that railroad; and the
city of Baltimore was not going to allow the
Northwestern Railroad of Virginia, to go
into the hands of the Baltimore and Ohio
Railroad Company, although it was unprofit-
able to keep it. She acted wisely.
I say here that the effect of selling the in-
terest of the State, will be to compel the city
council of Baltimore to sell her interest, for
her Safety and self-protection. She will be
bound to do it then what will be done ?
Private stock owners have the large control
15 |
of your State stock, have the control over the
private direction, to guard it just as they
please, for the city of Baltimore and the in-
terests of the State of Maryland. But if yon
part with your State stock, the city of Balti-
more will be compelled to take what they can
get for it. As a tax payer of the city of Bal-
timore, I am unwilling to fasten on my con-
stituents any further burdens than they have
already borne.
With regard to the Chesapeake and Ohio
Canal, which is unproductive, I know that
none of that coal is brought to Baltimore
city; end therefore it shows that I am not
directly interested in the workings of the
Chesapeake and Ohio Canal. But I thank
God that I cannot forget the place where I
was raised. I feel as deep an interest in
Allegany as I did when I lived there. I
know that every man in Allegany, rich and
poor, has his hopes and affection fixed upon
the development and progress of the Chesa-
peake and Ohio Canal company. I know
that log-rolling has been done in the legisla-
ture of Maryland for years and years, by
men interested in the stock of the Chesapeake
and Ohio Canal, for the purpose of inducing
the State of Maryland to sell it in order that
they might get hold of it. It has only been
by the persistent efforts of the true working
men of Allegany that we have kept the inter-
est of the State of Maryland where it now is.
Close up the Chesapeake and Ohio Canal,
and you close up your mines. Close up your
mines, and you close your rolling mills.
Close up your mines and your rolling mills,
and yon throw thousands upon thousands of
poor men out of employment. Bring this thing
up in the canvass, and tell the people of Alle-
gany that this convention has gone to work
to part with the State's interest and therefore
its protection and guardianship of the Ches-
apeake and Ohio Canal; and you will not
get 600 votes in that county for your consti-
tution. That is what I believe. It is the
opinion I honestly entertain. Gentleman
may differ from me. There are representa-
tives here from Allegany who can speak for
that county, I have not visited Allegany for
years, but I know the sentiment of that coun-
ty must have changed very much if they do
not feel upon that subject as I knew them to
feel years ago, and as I feel now.
I assert that it would be a breach of faith
on the part of this convention to go to work
and sell the State's interest in these stocks. By
reference to the 2d volume of the debates of
the convention of 1850, I see that there was a
long debate on the exact provision which is
in our present constitution; and I find that
my friend from Kent county (Mr. Chambers)
and from Baltimore county (Mr. Ridgely)
voted for the provision which is in the pre-
sent constitution. The whole of this subject
is brought up on motion of Mr. Blackiston, of
St. Mary's, who elaborately discussed it, re- |
