Indiana State sentinel. [volume] (Indianapolis) 1841-1853, 1847-04-29


instead Of representative of value, and it is not
surprising that among these there should be found
some created TO construct railways a scale
than commensurate TO the business Of the country
through which they are built. But the failure OF
these projects furnishes Nth intelligent men
to distrust the security and proftabeness of this
species Of stock where due regard to these coside
ratIons has been had in creating it. The time will
come, too with u.s. as II has already with many other
communities, when all classes will better understand
and appreciate the advantages of having an oppor-
tunty Of investing their surplus earnings in some
productive properly instead of the Useless and I'M
profitable practice which has hitherto prevailed OF
putting il in wild lands, augmenting surplus pro-
ducts without market. The conviction may be
tardy, but it will be certain that piece Of paper,
which rents for or fifteen dollars year, requires
neither time trouble TO procure payment, has its
solyency GUARANTEED by the productive value OF a
whole region of country, can be worth an eighty
acre lot, that may cost twice as much, rent for
nothing at all, and pay multiplicity of taxes The
essential cause of the poverty Of the county is at
trlbutable to msdirecton Of its small capital and
Interpretation of Its abundant labor and so long
this state Of things is continued so long will we
remain immensely behind our neighbors in social
ADVANCEMENT prosperity, and wealth > though in
full possession of all the to secure it as they
But brilliant future is opened up in the pros
pect of this magnificent railroad through State,
and it will be for the people whose direct interests
involved, 10 say whether we shall enjoy it now or
postpone it to some indefinite time hereafter; in
either event, the committee feel that they have dis
charged, TO the best Of their ability, their duty in
attempting to impress upon the public the great
importance OF II In many points of view.
1t may be objected to the course recommended 10 be
pursued in this report this subject, that it offers
no guaranty that the company owning the railroad
from Hamilton to Cincinnati will consent to regulate
its charges for travel and transport on the liberal
i nrIn los ocod On ho Of ha
west, supposing the controlling the latter to do
so. There is, however, no plausible reason why
they would do otherwise This extremity Of the
road will undoubtedly be constructed by Cincinnati
and less from considerations of the value of the stock
created, however profitable that must be, than de-
desire TO share the immense traffic which will be
conducted it. Running directly eastward until it
reaches point where rather abrupt divergence is
made 10 reach Cincinnati, she must afford induce
ments for its business take that direction
pass her by, 10 radate through the various channels
opened for its outlet to the Atlantic cities. The
want of right of way might close this upon us for
the present, but nothing deprive of it for any
length OF time but policy, on the part of Cincin-
natl, in regard to the interest of the company, which
would leave no inducenent 10 request il from the Leg
islature of Ohio The St. Louis and Cincinnati Rail-
road, if constructed and literally managed, must
pour into the lap of Cincinnati the wealth of vast
/ region of productive country and it is not to be
as TO obstruc the current by artificial barriers. Ohio
and Indiana have separate interests in this great
undertaking, and there is reason to doubt, and
many weighty ones TO make ii probable, that the
stockholders in both companies will be merged into
one that will ultimately extend it to ST. Louis. These
are matters to be adjusted at the proper time and no
prudent board of directors would suffer the work to
progress until they were satisfactorily agreed upon.
This report has grown so much upon The hands OF
the committee that they constrained TO bring ii
TO conclusion; and only offer in extenuation OF
its length the great Importance of the subject of it.
Each step in the investigation revealed facts
going 10 confirm the first impressions of the commit
tee, that the advantages waiting upon the completion
of this great work beyond computation those
living along the line Of it and that juncture OF
favorable circumstances exists which renders the
present peculiarly suspicious time to have it CON-
menced. As it must eRure to the benefit of all our
citizens, the committee would earnestly bespeak the
active cooperation of all of them for its achievement
1.-THE tables accompanying the report will be found
in tie next column.
Which being read and briefly discussed, was unani-
mously adopted.
On motion of Mr.. Chapman, the following preamble
and resolutions were adopted:
Whereas, From facts before u.s. we believe that the
great cities of Cincinnati and St. Louis entertain Sc
rous ideas of connecting these two great and mpor-
tant points by means of railroad communication,
crossing the States of Illinois and Indiana
Aud Whereas, The Legislature of Indiana has
granted a charter for railroad from the western
boundary of the State through Terre Haute Indian
apolis and other important towns, to Richmond being
almost the entire distance across the State;
And Whereas, The citizens of the great eastern
cities are looking with anxious interest to see chat
icH do for ourselves that they may be enabled
ascertain proprety of investing their surplus cap
/ ital; aH13E U EEE
And IVbereoS II s,cb ;onrovoroo,,s h., ,rr;.,o
capital have proved to be profitable (when properly
managed) to the stockholders and beneficial 10 the
public;
And Whereas, A convention of the friends of the
has been suggested to be holden in this city
in May next;
Therefore, Resolred, That we approve of the con-
templaed railroad, and will aid in every consistent
and proper way, to have the constructed by SUBJ
scribng to the stock, and in such other manner as
may be deemed advisable
Resolved That we believe it will be for the interest
of the State generally TO have said railroad compile
ted within the shortest possible period and that those
disposed, throughout the State, be invited to take
stock. ienie fur .gaefasaE .hslisl-
Resolved That the suggestion Of the friends of the
enterprise in Cincinnati, that general convention be
held in this city in May next meets hearty appro-
val, and that we desire TO general attendance
from every quarter, promising our cordial co-opera-
ton. 80
Resolred, That this meeting appoint 80 delegates
to represent them in said convention.
The following gentlemen were appointed by the
chair:
j. s. Bobbs, N. McCarty. Geo. A. Chapman, A. H.
Davidson, VIM Sullivan, Douglass Mcguire, E. N.
Sinner, Sam. Henderson, N b. Palmer, John d. De-
Frees Henry Brady, S. v. B. Noel, ]. C. Yohn, JAS
Johnson, Harvey Bates, B. l. Blythe, N. Bolton. Pow
ell Rowland, David Wallace, Jas. Blake, John Wal
kins, John Carlisle. c. w. Cady, N. West, John Nc
Fall, w. H. Morrison Ovid Butler, P. B. L. Smith,
Adam Wright, and Chas Mayer.