Toronto and Huron Railroad.

A new proposition for carrying through Mr. Capreol's Railroad Scheme has been submitted to the public. It is proposed that the lottery part of the scheme be withdrawn, Mr. Capreol resigning on "such conditions as shall be fair and reasonable," and that a contract with Messrs. J. M. Wood & Co. be entered into for the completion of the road—This firm have published a letter in which they make the following offer:—

"If the citizens of Toronto—and on the line of your road, will subscribe £150,000 in reliable stock, or if the corporation of Toronto and of the Simcoe District will unite with individual subscriptions, and make up the sum of £150,000 in all, we will subscribe the balance of Stock and complete the road in two years, giving to your company security on our part for its completion, at the rate of $25,000 per mile.

"The City of Toronto and other parties to be interested in the direction in the proportion of the amount of their interests. As work progresses and shall reach an amount equal to £12,500, one-half of the amount is then to be paid to the contractors, and so on till £300,000 are expended.

"The work to be commenced at once upon the consummation of the subscription, and the necessary contracts to be hereafter drawn out in detail."

That a railroad to the back country would be desirable is beyond any doubt, and the citizens of Toronto are deeply interested in seeing it carried out. We think the offer of Messrs. Wood & Co., a very feasible one—they are responsible men and efficient contractors—and we trust, it will be taken advantage of. But we do object to this slap-dash way of doing business. Let the terminus and route of the road be first ascertained, and the cost and probable traffic arrived at—and then, but not till then, should the credit of the city be used as proposed. We earnestly recommend this course to the gentlemen who have taken so much trouble in the matter, we fear very thanklessly. Let them make another attempt on more sound principles than their last, and we are confident they will succeed. As to Mr. Capreol, we think he deserves a vast deal of credit for his energetic proceedings in the matter, and that he ought to be liberally remunerated for the time and money he has spent on this enterprise. True, we never approved of that enterprise—but many of our best citizens did, and though the mode was, in our view, objectionable, the end was excellent. We go for paying Capreol.

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