The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-09-05

VAST magnitude and importance mas, We learn, eecu
conceived, and will probably be carried on. by
George Law, and several ether large capitalists in
this latitude associated for the purpose II needs
Indeed, to be q stupeudous affair TO be worthy Of
any peculiar attention. in this ago Of mighty achieve
nsnts, wrought by labor and capital But such It
is. Il is nothing less than the founding OF new
city, just opposite own on the west bank OF the
Hudson, on that tract OF land lying between aud
comprising Jersey City and Hsbehen. The prcsi-
minary steps for accomplishing this grand design
win be taken. We understand, at the next meeting
Of the Common Council of this city, whom IN appli-
cation viii be made, on the part Of Mr. Law and his
associates, for leave to establish ferry between
Hoboken and Jersey City, accompanied by grant
o. all that portion Of the river lying between the
line Of this ferry and the low water mark on the
Jersey coast up to which the authority Of the New
York Corporation extends. Ii is the purpart and
intention Of the grantees lcssees TO fill up all
this portion of what is called Harsimus bay and to
build extensive docks along the line, aud also to
erect large warehouses, such those Of the Allan
tic docks, ON the Brooklyn side Of the East river.
These docks are to be built of suoh dimensons and
with such eye TO the necessities Of commerce, as
will render them the most eligible to be found in
the port for the various lines Of large steam
ers-the British. Californian, West Indian, &c.
The company viii also open up some streets, and
build residences on the ground so reclaimed from
the sea, and thus form Nucleus for city destined
to be one of great Importance
But the designs Of these capitalists no. limited
to that tract of land, to those rights and prvi
leges which they may acquire from the New York
Corporation. There are several hundred acres Of
swamp, belonging to the State of New jersey lying
between the shore and Bergen Hill, and extending
from the northern limits Of Jersey City to Hoboken.
These salt meadows are at present of no value, and
may be purchased at a very uncomfortable price.
the immense capital under the control of this asso-
ciation of which Geo Law is at the head will enable
them to buy the whole of this tract up to and
comprising Bergen Hill ITSELF which can be made
Of to fill up the low meadows, and to make good
building ground of them. And here, in what is now
an impossible quagmirs, We will, probably, in few
years, in state offomation the streets and av
ola future city, uniting Jersey City and Hobo
ken into and promising to outstrp in Importance
both Brooklyn and Williamsburg. There is no place
in the world Offering such advantages and facilities
to found prosperous city on as this does, both in
natural and artificial points of view. It is beaut
situuttu oh tuc eshuufy u eue duosVn:
here are now the ternni of several great lines of
railroad, extending through the country for thou
sands of miles, and connecting it with Buffalo, Dun
kirk, Rochester, Detroit, Cincinnati, Philadelphia,
Washington, and vast range Of the Western and
Southern districts. The trade and Importance ac-
cung to it from this position alone would be almost
sufficient to ensure its rapid rise and increase Brook
lyn and Williamsburg have no such advantageous
position to depend upon; their only support, in thar
view lies in the unpeopled and sandy wastes OF Long
Island; and, therefore, it may be safely predicted
that this embryo city will yet surpass them in mag
ntude and Importance The Jersey hills afford fine
facilities for constructing aqueduct to auppy the
city with fresh water and this will be an UNDER
taking which we may expcc. to see carried into
practical effect before very long
The matter, as we have said, will be brought
under the consideration of the Common Council at
its first meetng-at least the application for lease
of the ferry will be made, and the other grants and
privileges necessary to the project will accompany or
follow it in due time. The undertaking is grand
and vast, but will be most profitable one, to the
moneyed spectators who engage in it The assign
ment Of the rights they seek will not cost probably
more than a few thousand dollars; but it will be
worth to them, in the course Of some years. from Eve
to six, ten millions of dollars This is the age
of vast undertakings, and the project mention is
among the greatest of them.