Glasgow weekly times. (Glasgow, Mo.) 1848-1861, 1851-01-09

I'll even in the opinion OF the most sanguine
il would be injudcious TO proceed.
The eyes oil the nation are upon Missouri,
and II is necessary that she shall now max
move Railroads from Boston round 10
Mobile, are pointing to our State, looking
TO us Tor an extension OF the lines through to
the western lrontier from whence, by com
mon consent, the energies OF the nation will
be concentrated in continuing the road across
the plains, and TO the Pacific. Our enter.
prsing countrymen both north and south OF
us, who have an interest in different routes,
are most laudably engaged in pressing for
ward their plans, which, If successful, will
not only turn into different channels the
countless millions Of wealth, the roads east
Of us would bring into the State, but we
shall be deprived, moreover, OF being the re-
cep!acle OF the golden stream OF commerce
which is at no very distan, day, to flow in
upon US from the west; and also the trade and
commerce Of India, OF China, and of the
islands OF the Pacific, which OF itself has en-.
riched nations, and built up the mos, popu.
lous cities in both ancient and modern times.
Let it once be seer, that we 90 not intend
TO aid in this great work, and the roads east OF
Missouri, will be made 10 diverge to points,
where energy and enterprise have been more
successful. The action Of our present legis
ure is TO settle the future destiny Of Mis-,
| souri,.
The State is now comparatively out Of
debit few years will pay all, and ii is not
my desire that the legislature shall take any
step that will overwhelm the State in debt,
without any means Of extricating itself, ex.
ccpt by burdensome tax upon the people,
deprecate the policy Of the State becom
ing large stockholder, or engaging in any
considerable work OF internal improvement,
as leading to those almost inevitable results.
But the State can do much in aid OF private
enterprise. Two charters have already been
granted by the legislature for roads; the Pa
cifc railroad from ST. Louis TO the western
frontier, lis anticipated route, passing, for
more than half the distance through wealthy,
poPulous and fertile region Of country; the
Hannibal and ST. Joseph railroad travcrsng
a region Of country unsurpassed in its whole
distance, in the productiveness OF its soil
and its adaptation TO the means OF wealth and
influence.
The prompt organization Of the compa
MES and the energy and determination of the
people interested in the respective routes,
manifested by their liberal subscription for
stock, assures US that they need but the aid
which The State can give 10 ensure success.
These roads are objects, not only Of nation,
al importance, but Of paramount interes, 10
the prosperity and growth OF the State. and
worthy the palronge Of the legislature.
improvement 10y railroad is dssimilar from
any other work Of internal improvement -
Every mile Of load made, will afford the
means Of returning compensation, and by the
time il has reached twenty or fifty miles into
the country, hitherto impenetrable. as far as
it respects the means OF transportation and
commerce, new elements OF wealth spring
up, new life is infused into the country
through which it passes, and by the time the
road is completed, The most sangune are as
tonished al the elements OF wealth it has pros
duced. This accounts for the success OF the
railroad enterprise in some OF our neighbor
ing and sister states. They do no. calcu.
late to spend their millions, and look 10 OH,
er sources for means To- pay The interest upon
the outlay, but every mile OF road is made to
yield compromising remuneration. Such a
result will follow the making OF the roads to
which have referred. But can private en-.
terprse build The roads? With the aid
which the Stale can give, and in way by
no means oppressive TO its citizens, it cen be
done. Without this aid, the work must fail.
A knowledge Of the ability which will be
brought 10 bear upon this subec, in the le
giIa,ure, relieves me from entering into the
details Of a plan by which the aid can be
afforded. shall, therefore, only suggest
what is now in successful practice in some OF
our sister states, and which deem worthy to
be followed
For every $4,000 collected and expend.
ed upon the road by the company, lie, the
Slate loan its bonds 10 the company for such
amount as will, by proper calculation afford
the means, from time 10 lime, OF carrying on
the work 10 its completion. Upon every de.
livery TO the company Of the bonds, such a
receipt or acknowledgment OF the amount
should be given by the company, as will, to all
intents and purposes, amount TO mortgage
OF the road and its appurtenances, 10 the
State, 10 secure the payment OF the principal
and interest Of the State bonds. These
bonds only 10 be issued as the means may be
needed, and after the conditions shall have
been complied with. The bonds 10 run for
not less than twenty years, subject 10 re
dempljon OF any time after they shall become
due at the option Of the State. The faith
Of the Stale to be pledged for their Iedemp.
ton, and the company to be required TO
make provision for the punclua payment Of
the interest, SO that This shall never become
d charge upon the treasury Of the State. The
income OF the road, when finished, after pay
ing repairs and necessary expenses, to be
pledged for The payment Of The interest upon
the bonds. II The company fail TO pay this
interest, and the principal Of the bonds when
required, the Stale 10 have the right, under
The mortgage, 10 sell the road and its appur.