X HISTORICAL MEMOIR. 



State under the law authorizing the imposition of taxes for 

 railroad purposes. 



The Legislature, by an act approved Feb. 10, 1855, modified 

 the law in regard to the issue of State bonds as loans to the 

 Railroads, so far as the amount was limited to the particular 

 sum of $50,000 to be applied for at any one time, leaving the 

 amounts within the general limit optional, and permitting sales 

 at market price. 



The work was pushed forward on all the contracts to Jeffer 

 son City that year ; and in September, the work under the con 

 tract for the South-western road was also commenced. 



A contract was also entered into to construct the main line 

 of the road between Jefferson City and the &quot;Western boundary, 

 with Messrs. Kirkwood, Porter & Co. The superstructure of 

 the main line being principally laid nearly to Jefferson City, 

 (125 miles,) a few of the bridges only requiring completion 

 and trestle work being temporarily substituted, an excursion 

 was planned, in view of the then approaching session of the 

 Legislature, to take place on the 1st November. A splendid 

 train of ten passenger cars started from St. Louis loaded with 

 the elite gentlemen of the city and surrounding country, one 

 lady only being present as precious, goodly and cheerful a 

 company as ever breathed the air of a hopeful morning but 

 was fatally precipitated, from too much speed and too weak a 

 structure, at the foot of the first pier of the Gasconade trestle 

 work, 108 miles from St. Louis. There the Chief Engineer, 

 and thirty-one others, prominent and worthy men, were instantly 

 killed. This lamentable accident caused some delay. The 

 direct damage to the running stock of the Company was about 

 $21,750. 



It appearing, from experience, that the cost of our railroads 

 had been under-estimated, it became necessary for the ensuing 

 Legislature to make further provision for them. With wise 

 precaution they first, on the 7th of December, 1855, enacted a 

 law to secure the prompt payment of the interest on the State 

 bonds, by requiring the setting apart out of the State Treasury, 

 on the 1st July, 1856, the sum of 1200,000 as a basis of a State 

 Interest Fund, and the further sum of 1100,000 annually for 

 thirteen years. The Treasurer and Auditor of the State were 



