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1rffIydtI.seei*nThe contract fop eighteen hundred and forty tons Railroad iron is explained by the Chief Engineer. The enhanced value of this commodity in England during the last year explains the had faith of the contractor* and the duress in which the State was placed. The cxcc«9 6f price as charged by them above the customary rates when the contract was mnd»\ created a balance exceeding the appropriation, of $14,000. No alternative was left except to extend the work or take the iron according to the terms demanded. If time had been allowed, and raibng hod been sought elsewhere, the $tatc would have been compelled tohave paid at least twenty-five dollars more on the ton- It was a clear'case of necessity, dictated by the iron monger*, in consequence of the occidental fluctuation of the market. It was deemed the most economical plan to take the iron after obtaining pecuniary concessions made by all the parties innocently or wickedly engaged in this fraudulent transaction. I authorized the Chief Engineer to hypothecate a part of the Bonds as security for a loan at seven per cent., as being in my judgment the most «*co nomicnl mode of using the appropriation. But ono other plan was left, which was the sale of the bonds at a discount of six per cent.As all the bonds, nmminfing to the sum of $207,000, under the appropriation of the Rail Road, were issued during the last year and used in small amounts occordtng to the necessities of the work, n large back interest had accrued. Only so much of it has been u°ed as was necessary to fulfil contracts of the class just referred to.During the present year n correspondence was opened with the Secretary of the Treasury for the purpose of sus-pendingthe collection of duties on Rati Road iron imported hv the State. He replied and alleged his want of authority. Tue claim of the State io have the duties refunded already paid by it, is equitable and just; and it is thought from the recent action of the Senate of the United Stales, a proper consideration will be taken of thoseworks, in the completion of which time was an essentialclement, and especially such as were commenced when Rail Road iron was not dutiable. [ resjfectfullv sugeest the propriety of expressing legislative will on this subject with a view to relief.As an incident usual to the opening of n Rail Road, I regret to say that a serious accident has happened by which severe personal injury was inflicted on tho Chief and Assistant Engineers and conductor. Tins misfortune is alleviated by the hope that no life was lost.However advantageous tho immediate extension of the Road to Cross Plains may be, an increase of the public debt cannot now be recommended. To hasten slowly was once the remark of successful ambition. Its force should not now be !oet\ipr»n us, when we have profitable examples of seasonable delays in other enterprises of like character, and as heavy burthens are overlaying the public debt. If tho extension bo urged, it should bo made upon the funds and credit of the Road, with c limitation that a certain amount shall not be exceeded—and that tooat periods when the work may be dene economically and advantageously tq the State,fud*b'aHIhStItITtlbufitlr
Newspaper Details
Athens Southern Whig
Athens, Georgia, US
Thu, Nov 13, 1845
Page 1
Full Page
Clipped by
Anonymous
GA, USA 23 Apr 2022
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