New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1852-10-19

oct Of CONF ctils the river Illinois with i>sEe a
se rant Of and in aid Of the project In 1885
tic STATE Legislature adopted system OF in'er1al
n 80 ter ed ar7rorriated 80 200 10 carry them on
~ 30 lie Central Railroad had 8, SOcc The state
stasrt cl or rnceT this immense load endesvonne
By bouowing, until further IONS became Of
e. lure Is OF hs:OTy and Of all the ereei -
works winch she has PROJECTED, the canal s,one i 4,
completed by obtai-ipg new loan OF 49, VIZ fIs
veet proxre.s ss ece been Inado in locoo5oh or
onftIsted .ne necesity OF competing ts 80 dta-ted
fart ips gacty u certain New ors ~ he
~ Of the object AID the simplicity OF tho
uexrs 10 efsctit TIE national lands were az tH
qpred u she hands OF gsni; noi. 70 aid the WORK and
fe,s geuilsmen, among WON were nos.Nr 81 ;as
JoEzTBiS STURGIs AID MoEEls n 80
ayssely pTorosed take these lands END ouiid
ives sn operation that requires go'd HiAHe ino.u =.
wealth well had tire associated gentlemen sns Il
name. n.ino.s had isJien int0 e-It".I Nl' ~ s,J
Nor OF the commercial word. ana men VINO coua
confdeDce requse The great 'aise OF tns - ~,
f. idE Of limos and the iaVoI "a i4 -
rsroadr suggested The fact tst the a1tS SIaAiSu HO
prorery aged IaoTe than bue the roS ana tne
toI TTopeTy osrned ont, would leaNe IL ths Ius VI '
NV gentlemen who undertook II the nagnhcent properly
Of reIccd go miles o IN full operaiJ tholsn one Oi
The nOs' tlTyIug cOUniDes OF me w0In = NJ
ov COST The state granted charter on the mos liberal
Terms II will have control Whatever over tne
vhose Chart II peyetzd and claim from Y only pr
-. 49, ~rnr 81 The ross income in cU Of oil taxes The
rrzsc on between tie state and the company i Simply
or 81 co,tract Of the lands and PrlVles
IL Com, nry rr the Toed operation WITHIN gwen time,
and thereafter psy the State Per cent upon the gOs Re-
es,ts foreyrr Should any difficulty ana between the
(orry and the State the United states supreme court
~ aIItar The value Of such road Of TINS, go mules
irn 9TH fBI eouiTsge almost lmiilcss in such ocl
non ard Wi; prove one Of thu grancest sccut5ns that
/ ever fell 10 he lot Of euteTITisiIg genius
As IN illustration Of the Respective oenehis ostu W
nav the public lands would sell IN I'm nshl
ties only, at the Goyerpnen minimum Prle - - ga,
some e. nteTaep who shed 10 pure Use Hat IN
wild II on the kGDkak-e River, sxiy nne trUn I'M
ctgo, Int the line Of ne road were 60 eise 70 t,e
si5(N for LOO acres. during the late Land Sees Of
the Government in that region, the prices ranged ron
g. 20 s. Ierscre, and were Kept down Of 1T rate only
hut 10 divide purchases his activity and nee IN Govern
ent Lands les been apparent IN grest gree IN private
wi Oh IL might in time have sold for $1,000; along With
on equal quantity which has Teserycd making Soo"
but s reserved lot h selling at s. average through lna
ence of the road built with the quantity granted 1t Will
bring al least Sl5Oo00 The Government viii thus make
win make al least SzGNOO0 Thus If the enterprlsing
gentlemen Of the Company make aspendd fortune, they
VIII stn be behind the Government and the eit1en IN
Tie westc1n States and Illinois in particular felt the
conocuences the reyuoD of 1885 severely There WA
en- els nee Of money and absolute inability 70 sell any
proIery The expenditures for the completion OF the great
Canal gave Little impulse 20 business and since then e
hes piOspeied giacutliy win ncsesHs &
her properly under the influence OF the Railroad becoming
active Some sales have come to our knowledge
Lee Coauy-I he'd 81 since s4l, by Mr. Wies
os ca S se as oeled i Without cr. s. in 40 .o
oee 20 acres Mr. Am,ons bought in 1870 for s9ioo ~
Lee co VIC seles :od ty Nj D.rne, in siO0
Cob co-a5 acre. sod 500 e.od 1871 Tor
e6c1 ar }eve land. hed al O. have been sod at
st.Ihenfon offered 1919 al - sold N MAY
ore cres cot 80 ON is4i now offered for c,h
Thee are INF few items among a great number and
ueufic them here indication OF the activity which,
after suubtr Of ten years has oyeraken te non aI
"a ses ~ nn,oved land In Illinois II se lands were
like the fGmt alluded to- which were held at - ana nave
doubled in value and become Go're al ha yane we
property every individual in the State has doubled by the
mere projection Of the railroad The demand Tor INT lands
IL ccii,e because the tide of immigration turned upon
but which a stated above the late land sale Of the Cow
erunoI taken up Of 81 80 10 ~ per acre
Tie press OF Europe from time 10 time, expresses Well
founded surprise the great aud rapid winch every
mode prevents in the United states more
overlook every quarter the British Islands consequence
Of the money locked mp in railroad speculation
tom lsic 10 isS was 90 in ten years-4 sum
which TO have exhaus ed the floating means OF eoan
y whose boosted wealth superior to that Of anJ other
nation In the United States IN time, $3.50 900
expended in railroads without producing any apparent
effect u1On the money market TINS sum was one-i0urih
the English expenditure but from the supposed compare
tive wealth of the countries its apparent influence upon
the fosing capital should have been marked II other CIR
cuIntt, ncs we the same go far from this however, the
value of railroad shares and securities has continued TO I'M
prove face Of the increasing supply and the influence OF
te railroads be replace money in the mar
ket than absorbed their construction The great dis
abundance Of land the United States and the number OF
who follow the streams where there rail
Toads but the latter where they exist The cost OF railroads
in the United States low as 10 bear small proper
tion the wealth developed through their II we
agricultural road, we have results nearly thus;
Soaihe'n Michigan Eastern Counties
Tsg gs ,s Of S'l''' ld's,S h"0 20
Cosi........ s4e5So e s6l 5o1co
Recer,. Cor sepemici i,i9..... siS.siS sDo@5
Thus the English road, commanding nine times the Popu-
aiiop costing 10 much q mile, receives but little
than double the income The receipts OF the English
read ART 81 v mile week, and Of the American road
Sl4 & mile D. week, Why docs this United states road
give income proportion TO population and cost
COM ered with the EIghsh roadl Tie 70 be
L lIN tho cha ffqF aRfNH
peOl Gnd That every foot OF ground passed by the
hnIIcsu road yields almost without labor, addition 10
through old country where the people had fully
the Of The land before railroads
vailed or thousand years.
The Great Central Illinois road prolongs by the Chicago
branch Southern Michigan road 400 miles % the juno
ton OF the Ohio and MISS supp Rivers whence the route
will he prolonged Mobile and TO New-Oeans Some Of
the secous that latter xon under contract
The Illinois road commencing Caro-, north 10 the
Southern terminus of the Great Illinois Canal, thence
branch Gslena the great lead region the Mss
opp RIVER 6nothti bIahch olVeIB,s 70 Oheaso lhe "oe
Valley OF the Illinois embraces the richest soil OF c0nt
aud this road Will be the instrument Of popping IT,
Inc ms SCI IN Ouolus ROAD III IN Ou county, 70
purchase the night Of along the rote al cost proper
far Iom such received from the Federal
oyennent and from the Stale OF Illinois donation of the
land mile Of road making IN the aggregate 26a BIO acres
the road and both branches being 6lo miles The Company
received tic lands from the Cow Of Illinois OF these
lands 100000 placed in the hands of Trustees
Arr lS15-thGt Is say, twentyour years from date
The these bonds secured by the capital stock
Of the Company, ly the Of the road and 10y 10 900
acres the land specially appropriated 10 be sold such
proportion at any tune, possibly be necessary 70
make COED the senl-&uLIs al Interest VI the bonds
Thus If the rad the The Michigan southern
ssy s 0to PEI nir the amount wi be SlS40oc lfthis
money raised upon the bonds the bondhodcr viii have,
hs principal 67O miles of railroad IN operation,
nnng through the most desirable mining, manufacturing,
and ascutuT country the world and forming the
nteting hIk between New Orleans aud Newly orkthe two
greet OF the Union Brsidss .i road
he viii hold 2Ct0OOo Of the land along route. the
value Of which may be estimated from rhe st that land
which would cell At the Government prce OF 81 p per
acre has above stated sod g. pei acre aniicipa-
Of the iuueuce Of the road AZ this the lands
wolh STAGE Co nov, but al the rate Of progression
or al snG.fies they worth SS 000 COO This land with
the road itself forms perfect security There be
better Tie interest the bonds does depend alone
or is payment UPON either the eas capital Of the canal