The miners' express. (Dubuque, Iowa) 1849-1854, 1849-12-05

hu the Board of Public Works, and such mas
heen the final decision of the Secretary OF the
Treasury to whom the matter was referred.
The lands below Raccoon Fork have been sur
veved. and manv of them had been sold prev
GUS to the grant; so that the number OF acres
annlcable to the improvement OF this part OF
the river is determined at 5000 acres. The
lands above Fort Desmoines have not been sur
veved, and the number of acres only be cs-
timated from certain known points l have de-
termined, and stated in another part of this
port, the distance in straight line from Raccoon
Fork to the source to be in round numbers, 200
miles If the river meandcrs above the Forks
In the same proportion that it does below, the
distance above by the meandcrs is 2S4 miles, and
the lands which are equal to strip five miles
WIDE co-extensive with this line, would amount
to 9OS,0OO acres; that the aggre gatc-adding
the lands below-is equal to ,235OO0 acres.
The only matter of uncertainty is the relation of
the bends to the ascertaned straight line in 9th
er words, is the river above the Forks, crook
ed as it is below? AS the curves increase as we
proceed up the river towards the Forks, and
iudrinr from the character of rivers generally,
I think there is no doubt more bends above so
that this statement is in all human probability
less than the true amount of lands. 1t will be
seen that the source of the Desmoincs, and
therefore great portion OF these lands, are We
ry remote, the extremity being IA miles West
VI OH 100 llii1So A>OAtiA3 q az
tie more west than north.
So situated, it is hard to place present value
on the lands which have not been surveyed and
carelessly explored. The great Plateau, the
"Coteau DIES Prairies," where several other riv-
crs besides the Dcsmoines, find their sources, is
represented by NJ Nicolet as a beautiful and
fertile country. So far as settlements have cx-
tended above the Raccoon Forks, the country is
spoken of in the highest terms, and these settle
ments have extended near hundred miles a.
bove the Raccoon Forks. A reconnaissance of
this upper portion of the river would be of great
Importance in determining the actual value OF
these lands; but in the absence Of certain intel
ligence, we can form estimates of its value,
which will show the relation Of the means to
the end proposed.
Putting these lands at their Congress mini
mum of 81 .25 per acre, they would bring ST.
SAC, $50, which exceeds my estimated cost OF the
work ,542 50. At 81 90 per acre, they a.
mount to 81 ,233, 800, which also exceeds my
estimate of the cost SILL 1872 g.. But suppose
we put them at the lowest reasonable estimate
of present value, 50 cents per acre, they VIII a.
mount to 1857 co. which beinr deducted
from my estimate of the cost, q ~ ,yo7,}l
there is deficit of 1924 $4,000. This deficit
may be raised from the improvement itself, with
out charging cxorbitant tolls or extending them
for a long period of time. The annual interest
on this deficit at per cent, is Sl6323, 20; add
to this sinking fund of $10,lt2 per annum,
and together they amount to 500 ,525 20 this
sum applied annually would pay interest and
PRINCIPAL in less than IS years The question
then arises, realize such income from
the improvement, as to enable to apply ses26,-
$3.50 annually to the payment of such deficit.
If you charge the same rate of toll per mile
that is charged on the Illinois and Michigan ca
nal, it seems to me there can be no reasonable
doubt of it. That canal is better located for re-
ceiving immediate revenue, and it connects the
Lake and Mississippi; and is in an older set
tied country than the Desmoncs but on our
improvement steamboats, are to navigate, which
being better for carrying passengers, much
better for acquiring tolls. Besides we have no
great rivers or lakes ad jacent to draw off bust
mass, and the direction of work is i'll the line
of Oregon and California travel and we may ex-
pect share of that. We will not pretend how
ever that we realize the same alnount--We
will only suppose that we can realize one, tourh
Of the amount per mile realized the Illinois
canal. The gross income last year on the canal
was 1878 per mile, and onc-fourth Of this, is c.
quail to $2l950. Now this on 1873 l-2 miles,
the length Of our improvement, amounts to $780,
27S,25 This would be the first years income,
and we may certainly expect to realize double
the sum in five years after it is completed. For
the first Is years we may therefore easily realize
an average gross income Of $4,000 per annun,,
which would pay superintendent, repairs, and
apply the sum necessary to liquidatc the deficit.
The repairs will annually decrease while the
revenue will annually increase; and the result
is certain therefore, though the items of annual
receipts may vary from my figures. The lands and
the Improvement and the work can be clear of
debt Is years after it's completion. 1t only re-
quires rational business application Of means
to scurc the completion of the work within 5
years. To delay the improvement for the entry
of all the lands, would be attended with needless
expense in supervision and engineering. Such
works can be more economically accomplished
by impulse and energy, relying on the income to
compensate the expense Of the apparent haste
No sacrifice should be made and extraordinary
haste is unnecessary; but progression, is the
surest economy in moving such an enterprise.
Putting the work under contract on credit is
not an economical mode of construction there
are few who able to bid, and the best work
men arc not generally able to lay out of their
money until lands will sell and they be paid
it would be better to borrow the money on the
credit of the lands and Improvement, and then
give out contracts to the lowest bidders. This
would always open the door for competition and
let into the work thousands of good men who
could not take credit contracts because they have
not means to advance and lay out of. By pledg.
ing the income from the sale of lands, and tho
income which may be derived from the improve.
ment; without any other pledge, | suppose the
necessary means could be obtained at per cent
per annum, the work completed in five years
and cleared of debt in less than twenty.
Another very natural and perhaps economical
way of doing the work would be to advertise the
work entire, to be made for the lands, and if the
lands are deemed inadequate, then further
compensation let the contractors have the righ
to toll the improvement for a term of years.
To secure the best possible sale, let the work
be defined and advertised for period Of at leas
nine months, designating the kind Of proposal:
that would be received, and soliciting the loves
bids in time as the object of competition The
contractors would then be paid in lands as they
progressed, and if they were to have the use 0
the work for a term of years, they would be in
terested in doing their work well, so to nec'
the least possible repairs. A company woult
thus be furnished with means, credit and nteres
in the success; and combining these powers il
the hands of enterprising contractors, the worl
would proceed with economy, and energy, AM
the State would be relieved of trouble and ex
pensc. Either mode here suggested would prob
ably require Lee 9latve acton--(and the pla,
which | have proposed cannot be carried on