New-York daily tribune., 1853-12-28
TIE PACIFIC RAILROAD.

We have at length solid and sensible plan for build
ing the Pacific Railroad. Mr. SEWARD introduced a
bin yesterday providing for i's construction which We
publish elsewhere Its leading features follows
l. Ii throws open the building of the road to any
company chartered by any II spulstes for sealed
proposals from ali such, and proposes to give the
stIYctioD 10 that company which will build 1t for the
leaN gum in the way of aid from the Government; that
aid to be afforded in 5 per cent stock reieemable
after 90 years at the pleasure OF the Goyernment-the
company TO own and manage the road under cer'ain
conditions These are lst. That the Government
may take possession Of it at any time by paying the
conf pany its expenditure upon the road with II per
cent interest on the investment and I'd. That Con-
g1ess may control the fares far to keep :he net
income down to 10 per cent %. T6at the rates for
the transportation of the mails aud Of troops military
stores and other things for the Government shall be
established by the Secretary OF War
H. The Company undertaking the construction OF
the road are to lodge five millions of dollars in the
hands of the Government, in the form Of State or
Government Stocks by way of security for the fulfill
ment OF its contract.
III. No grants of land are to be made to the Com.
psny beyond strip sufficient for road way.
" The road is to be built north of the parallel of
40o-tO be commenced within le months from the date
Of the contract for its construction aud be completed
equipped and put in operation within FIVE years.
" The company is TO be bound to expend million Of
dollars on the road the start before receiving any
portion OF its bonus. 1t is then to Re entitled to such
proportion of the entire sum the Government proposes
TO furnish as its own expenditure bears the conem
plated cost Of the entire road In other words Gov
erument will pay faster than the company. The ex-
penditures OF each will 60 along Pari plssn.
VI The various stations are be fixed upon By The
Secretary of War; and the village and city plots to be
laid of and thrown open to public competition All
lands wing within six miles of the road are TO be ai
vanced to 81 80 per and all lying beyond that
limit and within IL miles TO be fixed at 81 574.
These are the main fea -ures of the plan.
Mr. Stewards bill resOlutely shuts the door against
punderpg and bargaining Of all sorts in this vast and
important work and puts every man and every com.
Iany disposed to embark in earnest in the construction
of the Pacific Road OIL footing perfect equality.
1t avoids the mschiefs and evils that would result
from making the company constructing the road the
holders of the only valuable land along its route. 1t
exneuhes all monopoly features of an offensive char
acter and ye; it cOnfers every power necessary the
full and complete achievement of the enterprise The
T itcl lLdk SeNafus Dill uidhcs no gigantic
monopoly Of the company, but withhods the territory
along which the road passes for actual settlers at fixed
and moderate prices is most cOmmendable and dmpor-
tant feature OF it, The bill thus offers solution oftwo
difficult points in the great railroad problem 1t pre-
Sents the first place apan method building the road
without danger OF committing the Government to un-
told expenditure and in the second il secures the road
without thereby creating great land monopoly to sit
ike incubus sstride the Continent As respects the
route this must depend upon the bearing of the accu-
mulatDg information from the various exploring parties
and tie results Of scientific surveys yet to be made
Across the precipous gorges of the Gls, favored by
I friends of Southern line, it can never 90. TSthe
Texas route the insuperabe objection lies that it makes
the western terminus at San Diego when tha. termi-
nus must be al San Francisco, further north But
DO not enter upon the question of route as some
thing invincibly fixed by Mr. Seward bill This ques-
iion is no, yet fully ready for settlement