Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1837-11-16


amidst various difficulties until the panic in
1893 and 31, when. owing to the pressure of
the times, the operations on the road were
nearly suspended, but were again resumed
in 1885 with much vigor and pushed steadily
onward unit, the fall of 1885, when the capital
Of the Company beng nearly exhausted, the
work was again almost suspended for want
Of sufficient funds for its completion. In this
dilemma, the former President, john ).
CRARY, Esq (tehose sacrifices, Joi!t IN time and
money, in behalfof This Road, hare been uery
great, and ,chose death Just at the moment Of
lis successful completion greatly regret) and
the Directors determined to apply to the
United States Bank for a loan. This insttu-
ton, with lberality that has ever charac-
terzed its acts where it could in any degree
aid the business Of the country, or promote
the public good, in connection with the Cir
ard Bank, of Philadel phia, (another institution
whose liberaity to the Company also allude
to with great pleasure,) and the Merchants
Bank of New York, engaged to furnish the
required sum to finish the ROud with this
assurance, the work was again pressed Tor
ward by the Directors and under the charge
of the able Engineers, Messrs. Mcneil and
Whistler, the Resident Engineer, Mr.. Det-
mold, and the several other gentlemen con-
nccted with the Engineer Department, (toI
whose valuable services have great pleasure
in bearing testlrnony,) it has las you have this
morning had an opportunity to witness, BEEN
completed, atfordng to the original projectors
and the steady supporters of the work, a.
proud satisfaction.
/ | ain happy to say that think there is not
a better constructed Road, or one that will
cost less for repairs in future, in the United
States; and The substantial manner in which
it is completed is very creditable to the con-
tractors, all of whom, under many disadvan-
tages, have fully complied with their engage
ments, to the Company. The cost the road,
however, owing to the unexpected advance
Of labor, Of iron and other materials, after its
commencement, has somewhat exceeded the
original estimate but Notwithstanding these
| disadvantages it has not cost more per mile
than other roads in this section of the Union,
that are now doing profitable business; and
| trust and fully believe that its receipts. after
| il is fairly in operation, will enable the Drec-
tors to pay liberal dividends to the Stockhol-
ders.
To the travelling public, this Road is a
work of much Importance; it shortens the dis
tance very considerably between New York
and Boston, and being substitute for por-
ton Of the Steam Boat route and the worst
part oft, THAT round Point Judith,) it renders
the trareL bet,0een the t,oo cities more certain
and expeditions. 1t is an important link in
the chain of Rail Roads, already extending,
with short interruption, ION Long lsland.)
from Boston to Frederick in Maryland.-I
Furthermore, when the Long Island Rail
Road is completed which am happy to learn
Is only suspended until our money market is
relieved, we shall have a Rail Road COM
munlcation from Now York to Boston, with
the exception Of the distance of % miles
across the Sound that will enable travellers
to accomplish the distance in summer IN ten
and in ,0inder IN tireive hours and they can
then reach Washington City from Boston in
t,centy eight hours!! and calculate, within q
few moments, the time of their arrival before
leaving home. Again, when this chain of
Rail Roads is extended, as hope and trust
it will be at no far distant period, through the
State of New York to the Lakes, and South
to New Orleans. travellers can reach BufaioI
from Boston in 9 1.2 and New Orleans in 81
days, with but little more fatigue than they
would experience in sitting in their arm
chairs at their own fire sides.
/ When these works so extensive IN pros
pcct are completed, the travel must inevitably VI
be increased on all our Eastern Rail Roads
10 an extent that will be highly advantageous
to the country, by giving rise to interchange
of views and community Of feeling among the
diverse population Of our rich and wide spread
domain, and also afford to the Stockholders
in the enterprise very large returns on the
par value of their Stock. But considerations
like the latter should not be the only induce
ment to invest in these Stocks. Patriotism
should have some weight with every capi-
taliSt; they are works partakng of n national
| character, and do so much for the accommo-
dation of the public, while they serve as the
very arteries for the business of our country
to flow through, that they should not only be
aided by every citizen who has the means of
making investments in them, but they are
a so entitled to the support ofboth the Gener-
al and State Governments.
/ Another consideration, already limited al,
which should have proper influence with
every citizen, and induce him to foster and
encourage all Rail Road undertakings, is,
that they serve to facilitate the intercourse
between the various sections of our country
and unite and strengthen the bonds of our
union. Every public work therefore, that
tends to facilitate such intercourse and
strengthen such bonds, should be aided and
putroDlzed.
II Believing IL tn be our true and national
policy TO foster these public works, 1 offer
the following sentiment: d..
"Our Union, best perpetuated by internal
improvements and the intelligence of the
people"
| Numerous sentiments were called forth on
this occasion, and we regret for the want of
space our inability to furnish them
! The President read letters from Gov. Ev-
ereti, Of Massachusetts, ex-senator Tomlin-
! son and Joseph Eaton, ESQ of Connecticut.