The republic. [volume] (Washington [D.C.]) 1849-1853, 1852-04-21
Influence OF Railroads on the Value OF
Land,

The experience of Massachusetts, New
York, and Ohio, affords abundant illustrations
of the great addition impaired to the value OF
lands and other real property by the cons,ruc-
ton of railroads. In Massachusetts, for exam
pie, railroads have more than doubled the value
of property, as exhibited in the Auditors re-
ports, and have reduced the average rate of
taxation in the State more than one-half. The
! increase of value is not confined to the mmed
ate vicinity of lines, though of course greatest
in those localities; in proof of which we may
cite the fact that in lS49 the value of property
in those counties of Massachusetts through
which no railway passes exhibited an increase
compared with the value in lS40, of 81 So ,000,-
600, as the effect of the indirect power of such
Improvements. In Ohio, where the works are
of more recent growth, and where, as yet no
complete system is in operation, corresponding
results have been announced from time to time
less general, perhaps, in their operation, but
serving sufficiently TO foreshadow the advanta-
ges soon to be difused over the State.
The current number Of DE Bows Repie,o
contains statement prepared by the promoters
Of the New Orleans and Opelousas railroad,
which embodies facts Of a similar nature, but
less generally known, with regard TO Southern
States Georgia lands, that were in the market
in 1916 at from ten to fifty cents per acre,
commanded in lS49-when the Chattanooga
railroad was in operation-from ten TO twenty
dollars. The same road, in its extension from
Chattanooga TO Nashville, Tennessee, passed
through the counties of franklin, Bedford
Rutherford, and Davidson and the Auditors
books for these counties show an advance in
the value of their property Of 1854 $50
IN one year. So OF the Mobile and Ohio
railroad lands that had been in tho mar
ket without purchaser for thirty years, have
since the laying out Of that road advanced to
three, and in many instances as high as
eight dollars per acre. In South Carolina,
again, Colonel GADsDEN, State Superintendent
of railroads, sffims "tbat the immense increased
value impaired to lands is from 500 TO 5000
per cent"
Facts Of this description might be multiplied
10 an almost indefinite extent; but we have re-
captulated sufficient 10 exhibit the important
bearing which proper railroad projects have
upon the material interests Of the country, and
the gain which the whole country may there
fore expect to derive from many of the under
iskings that now await the favorable action Of
Congress. Viewed in this light, the grants of
public land that have called forth bitter hos
tity in many quarters are in reality based
upon the soundest financial policy, and. if
honestly improved, will be the means of
swelling tho receipts Of the national trea-
sury to an extent Of which il is difficult
TO perceive the limit. The appeal TO Con-
gress rests. not upon the cobjectures Of spec
ustors, but on the well ascertained results
Of railroad enterprise in the older States; and
Judicious restrictions on the grantees, coupled
with business-like management Of the reserved
sections, are all that can be needed to secure A
4 repayment Of both principal and interest. The
Government, as trustee Of the public domain, is
asked to do nothing more than is done daily by
private landed propretors, or private capitalists
IN every branch Of trade. Outlays for purposes
Of improvement, if managed with integrity
rarely prove Improbable; and there is no reason
that we can perceive for imagining that The out
lay IN the form Of land grants will present ar
exception TO the rule. Iowa or Arkansas NAV
be the first to reap the benefit. bot sooner or Ia
ter just proportion will accrue to all tn,
States, east and west. Virginia and Massachu
sets will then discover that great gifts anc
great losses are in this matter by no meani
identical.