New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1850-09-30
The weBtern Rnilread Grantss
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The wesferm RniIread GRANTS
Correspondence OF The Tribune
WA9HINGTos, Friday Sept q.
Ipromiaed in one Of my late letters to send
you a copy Of she release executed by the Cairo
CITY and Canal Company to the State OF Illinois OF
all their chartered rights and privileges for the
construction of Railroad from Cairo to Chicago,
and the giving of which was the condition upon
which the Illinois Senators consented that the bill
which lately became law should pass Tde gen.
tleman from whom l was to get the copy retained
" before redeeming hia promise to me, which has
prevented my complying with my pledge; | am
enabled however to state she sole conditions upon
which this release has been executed. They are,
frat that the State Of Illinois, at the next session
Of It's Legislature, shall receive and approve OF the
Germs OF the release secondly, shat the road shall
be buis in ten years and that the terminus OF said
road at the south end of the State shall be Cairo
These conditions the Illinois delegation approve
of and are confident will be carried out by the
State they have 30 successully represented at this
eessior. | name this because the President OF the
Cairo Company has already been here, aud in In
terviews with some of the Illinois members ex.
hibted great anaiety that his Company should be
permitted to go on and construct the road-a pro-
position which l doubt whether Shere is single
member from the State in favor OF.
have no doubt that the grant OF between two
and three millions of aores OF the best lands In
Illinois will be offered by legislative enactment to
the holders of the Internal Improvement Bonds
upon terms embracing the same principles ga
those contained in the arrangement msde with the
CANAL Bondholdere of the same State. That il
she privilege sha BIO Arst given to the Internal I'm
nrovemens Bondholders OF the State OF Illinois to
oonatruct thia Railroad; the proceeds OF these
lands being applied first TO the payment OF the loan
made far constructing the road, and then, together
with the revsnue from the road to the payment Of
tba 3sbt now in existence; and the entire revenues
NJ tba road as well as the proceeds OF the saeR OF
khe lands to be irrevocebly pledged to the Internal
Improvement Bondholders, uatil tho entire indebt-
ednoan OF the esta,e OF this character IL absorbed
A plan suggested by Senator Douglas, and
which | think most advantageous one for the
Htnte of Illinois, AZ well as her Internal Improve
ment Bondholder creditors, il this Thgt the
lands shall be pledged for loan sufficient
to construct and complete 100 miles Of the
Central Railroad; that when the road ls COM
plsted the frat 100 miles, the alternate sections on
either aid of it as far az completed shall be offered
nj public sale, fixing 8 minimum price that they
shall bring per acre and providing that the Inter
nal Improvement Bonds shal be received at par IL
payment Of the same. This or any other az tsasi-
BILE plan more acceptibe to the Bondholders oil
abe State " ould no doubt receive the Legislative
authority Of the State of Illinois; but In no emer-
genoy will that State, in my judgment, consent
that the Cairo City Company shall have the control
OF tho lsnds granted for the construction OF the Cen
trial Railroad The public men OF shat State are
l. L. \ IL. Ill
pos only In building the road, but II possible in
mainly contributing TO the payment OF its Internal
Improvement debt. And In this laudable and just
deare they viii no doubt recelva the appreciation
and cooperation OF Abe creditors OF the State. Her
State indebtedness is nov the only hiemish resting
on her escptoheon, and to wipe that out, principal
and interest to the uttermost farthng is the grea;
desre of her citizens, and not to squaudas her
substance The muniflcenoe of Congressl Ia contrib
Gtng to the stock obhng propensities OF visionary
apeoulators.
The ability Of the State to reach this great dosj-
deratnm in her history, waa materially augmented
yesterday by the passage through the Senate of the
Swamp Bill as amended by the House, which do
Mates all the "ovetAov ed" "a well sS the "suS
merged lands within her limits 70 that State. Il
il the opinion OF Col BisSell, the ables of her Re
YeaentA,iveh in the popular branch of CongreSs that
this bill will give TO Iliipos at least thtee millions
mtre Of public lands, which, at 8 comparatively
trifing expense, oRn BE- made ayailsoe. All that
requires to make this Law operative ia the sigma
ture of the President, which it will doubtless re
ceive In the course Of the day. So that she aggrs
gate grant so Illinois at this session OF Congress Is
not much III anything, less ID an five millions aud
bali OF sores of she public lands. This when taken
in conjunction with the provision in the new Con
sdtution OF Illinois compelling tho annual levy and
collection OF Appetite tax upon all taxable pro
perty to be appropriated In no other manner than
the payment Of the principal of her Internal In.
provement debt must enable that vastly productive
and rapidly improving Stats soon to relieve herself
from every vestige OF State indebtedness, under
which she has so long been struggling, This. to
tho patienEand long suffering Bondhoder, ofIinois,
cannot otherwise than prove gratifying news.
Abe Bounty Lard Bill, as amended 10 the
Senate, win, In ali probability, be found difficult
sssk 10 DO made 10 run the gau0aet OF the House
by its friends. lts provisions have been made 80
broad, as even to weaken the cause OF its wGrmsst
friends snd should it pass, it viii cripple the
entire land syptem, and cus oil every dependents
upon the public domain as 8 source OF revenue TO
the Government ThS expense Of the machinery
Of this system as now org&ninized is incredibly
enormous and ia order for the States wherein the
public lands are located 20 succeed IN subsequent
application 20 Congress to surrender the domain
to the several States it will only be nscesaary to
show, In o balance sheet that the expsnseS to
which the General Government Is annually sub.
jecsed in keeping up she system ia greater in
amount than the whole rsvsnue received during
abe saiae period from the GALES Of the public lands.
Qble, as things are going on, they viii very readily
be able 70 demonstrate with mathematical Ger.
sainEy and this result once satisfactorily arrived
at with the increased representation ths now
States viii have AFTER this census, aud as matter
Of economy, the public lands will be surrendered 30
The States where sbey lay. look pFop sh's 80