The Portsmouth inquirer. [volume] (Portsmouth, O. [Ohio]) 1849-1855, 1850-10-07
western Credits -Railroads.

the results before the next Congress.
Western Credits Railroads.
" Ii is certainly very gratifying to witness
+lhc increased favor with which western Sc
cnrilies aud western enterprise are nov
regardedby capita!ils, compared with The
timiied credit they enjoyed a year or two
since. One extreme is surcto follow anolh.
Ter, AMI there may be some danger that the
facility with which western securities can
be negotiated in this market added to the
growing disposition on the part of eastern
men TO engage in these enterprises, on their
own account, will tlead TO d rapid expansicn
Of these works. Only such portion Of
our capital can be permanently! in
vested without embarrassment of business.
The danger ofover-inyestmeBt is striking.
Ely illustrated by the present condition Of
Massachusetts. The sumo drafts that the
New England railroads mndo upon the
money capital Of Boston. the roads Of other
portiuns Of the country are now making up
on New York. While, therefore, we would
encourage the construction Of public
works, the proper way to do this most ef.
tectuuIly is 10 SECURE to them healthy
growth. Is D fo.s .ssals iga,4a
Railroads create wealth Just in proper
lion as they reduce the cost Of transporta-
tion. Sofar they replace Immediately the
capital invested in them. Their value in
this why may be more accurately meas
ured than by the dividends theyp Sub.
ject 10 this Test the Importance ofrailroads
10 the west becomes the more striking
In many parts of the Mississippi valley
the cost of sending agricultural products tc
market, is grenter .hun the cost ofproduc'
tion. A railroad then becomes .greateI
item IN the production Of wealth than fer.
lille soil. In the increased price obtainee
for the staples of a country, railroad may
| pay for itselfina short time; consequently
its cost is not felt as a burden after this i.
accomplished. There are very few rail
roads Ia the west that will moi in this way
| pay for themselves ip q very few years
| 10 say nothing of their dividends or in.
rreasod value they give to real estate.--
Dividends may be, and often nre, very un.
certain evidences Of what railroad is do.
i ing for country. They may lie derivet
By taxing trai,sportolions and travel moro
Than these can bear, md consequent,
may impoverish instead Of cnrlching {
country.
lnthe Mississippi valley all tho vas
surplus Of its products are exported to dis
iant markets. Agriculture being tho sole
pursuit, all that is consumed that the sol
lies not produce, is imported. Th'
amount OF transportation 10 the individuu
is therefore much greater there than il
the Eastern States, where the great varie
ty of pursuits enables every man to sup
ply his wants from tho products of hi
neighbors. In New England, for this sea
son, all the roads through the agriculture
sections have proved failures as far as re
CARDS investments. The New Englan,
turmer has but little TO export. The ives
furnishes great pnrt Of his brcdds,uffs.--
His only surplus which he has to send Il
market is stock and wool, and these nrt
very limited in amount, consequently we
find that roads cense to pay as soon as they
are extended beyond the mannfacturin,
districts. These facts were entirely over
loaked by the projectors Of these works
and as all the northern roads are built q
very high cost, the disastrous condition o
things which we now witness was unayoid
able. The western railroads are built n
about one-fourth the cost Of the caster
roads. With the same amount ofbnsines
llhey would be good property, while the lai
ter would be nearly worthless. 'a&
The western roads not only cost much les
than the eastern, but for a long time I
come they will be much better managed
Their construction requires the ccncurrenc
land favor Of the whole community. At th
present time person who should attemI
TO benefit himself by thwarting or embal
RAISING work Of this kind would not b
tolerated. The only Bulls and Bears there
are such as harmlessly roam over her wild
prairies. The manufactured article has nc
Iyet crossed the rAlleghanies The sam
amount Of pay commands a much create
amounj Of service in the west than the eas
| The lands necessary for railroad are usual
a gratuity. So, to a great extent, are th
services of directors and officers. The ne
cessity that is felt for the. roads is accomps
MED with the conviction that the Who'll
strength Of the community is required I
build it. This conviction of itself secure
the most rigid accountability, and the mo-
economical expenditure Of means. --Ams,
ican Railvay Journal.
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| or The followingare the appointment
Of the Methodist Conference for the Port