The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-11-22

We are crediby informed that Mr.. Henry B. STAN
ton Of this State has become connected with Messrs
Walker, Chaifeld Il Ashmun's mo0nshine project
for making money in Pacific Railroad stock. Mr..
Stanton will thus continue the career in the course
OF which he has variously figured abolitionst,
leader OF the liberty party free soiler, barnbur
ner, and prOslavery democrat, by assuming the
functions Of lobby agent and buyer up Of newspa-
psrs and Congressman ETC., in behalf Of that great
scheme for the transfer Of money from the pockets
OF those who have it into the pockets of those who
acquisition of gentleman well qualified for their
service, and we congratulate the new agent on
having passed from political life, in which he could
shine NO longer, into station where his genius Is
sure to find ample room and verge enough.
The New York Atlantic and Pacific Railroad Com
papy owes its existence in great part to Mr.. Levi 8.
Chatfela, its President, Who as Attorney General
Of the State, has rendered his name ilustrious lie
got the charter through at the extra session Of the
Legislature last summer, and very bad charter il
u.s. for every other purpose except selling stock and
for that it may be good enough. Mr.. Chatfeld be-
ing q JefiersOnian democrat, was naturally led to
adorn his charter with democratic clause rendering
all and each of the stockholders personally liable for
the debts of the company. This however, need not
alarm small stockholders for it is not likely that the
company will ever owe any debts to any body since
forward and subscribed ten million apiece, whereby
the directors will always have lots Of cash at com
mand and can fulfill John Randolph's maxim OF
Pay as you CO." Another questionable feature Of
all others that may be granted BY other States, and
excludes Missouri, Arkansas, Texas, and California
from airy share in the management OF an enterprise
which they must all be asked 10 charter ami assist
How far those States are likely TO grant charters,
merely for the pleasure OF seeing them merged in
gigantic New York company, and how far they are
likely to give land to body Of capitalists who have
bundled millions already in hand, and are accord
ingsy perfectly able to carry Through the work with
out az such subsidy rs question to body but
Messrs. Walker, Chatfeld Il Co. with their agent,
Mr.. Stanton. They know how to manage Legisla-
lures; but trust that in their future dealings with
those bodies they will take good TO avoid every
thing like personal liability clause.
The line Of this splendid speculation is Dgenicusly
devised 1t begins at st. Louis in order to secure
the SUPPORT OF Western IAen. aad head off G lionel
Benton; it down through Arkansas to Marshall,
in Texas, and thence west to El Paso, in order TO
secure the support Of the slave States, which want
Pacific railroad through free territory: thence it
passes through the north of chihuahua and Sonora,
by virtue of special grant Obtained TO be obtain
ed from Gen. Santa Anna, for a copsiderat0n-run-
ming a, lear the northern boundary OF Mexico rs
possible, in order to the support OF General
Pierce and Of Congress, as the best and cheapest
means of preventing Indian depredasicns il that
quarter, and fulfilling the treaty of Guadalupe Hi
daso ano, finally it reaches San Diego, on the Pa
cifc, and runs up 70 San Francisco, having taken
the longest possible course from ST. Louis to the
Western emporium, the shortest, however, it is be-
eved to the treasury of the federal government and
the pockets Of those who are to buy the stock at
secene hand.
Tie nomit al capital on which this enterprise is
brought before the public, is hundred million OF
dollars the real capital is nothing or as near there
to possible. At first it not intended to call in
any part Of the subscriptions, but finally the obser
vatiops which several journals thought proper to
make on the speculation, and a certain regard for
public opinion seemed 10 render it necessary to call
in something, and accordingly an assessment was
laid to the enormous amount OF one mill on the dol
lar This, it is supposed, is all that will ever be
necessary for any stakeholder to pay.
The means relied on to give consistency and re-
spectabity TO the undertaking. are gifts OF lands TO
be procured from the federal government and from
the State Of Texas, with tat mail contract for
long series of years. With q sufficient numoer Of
millions Of acres and mail contract Of from three
to five million dollars yearly for fifty years. it is pro-
bable that the stock, having cost its authors and
holders exactly enc mill on the dollar will rise to
twenty dollars a share, the portion Of Mr.. j.
Walker will fetch the sum Of two Million affording
the pleasant little profit OF one million, nine hundred
and ninety thousand dOlars-which would go for to-
ward paying off the repudated debt of Mississippi,
purpose his patriotism would naturally lead him to
devote it 20. Or, il he should prefer t. keep the
shares Till the land. were sold, money borrowed On
the bonds OF the company, AID the road actually
pleted-supposDg he could live to the venerable
age which that would mply-he would then be the
owner OF ten millions OF sfook above par and payi-g
as great dividend as ever aas expected from Lars
Mississippi scheme or the greas South Sea bnbble.
lSuCL are luc gtucTal lcitEEeS VI u piAu WHICH 81
ready holds out glisterng tsnptations to the gcutle
men Of the press, and viii soon appear with big
brides in hand at the doors Of Congress. These
brides are not offered in ready money, but in this
doubt that any respectable journalist who wishes to
sell himself may obtain from five Thousand to two
hundred Thousand dollars according as he is sharp
at a bargain. For the honor Of the profession, we
t1Hst that viii take less than the latter
As for the price of Congressman, or an Executive
official, we have no advice to give; and besides,
there is no reason to doubt that he commodity will
be held up to its full market value especially as the
sellers we'll that that the article given in
exchange costs the buyers nothing.
We add for the information of those who are green
in sach matters that they are sometimes arranged
without the actual delivery Of be scrip; the Journal
to save trouble the party furnishing it takes it off his
hands at once, and pays down the premium he might
expect to get on it In the market. This mode of
taDsactiDg the business also affords an opportunity Of
reporting movement in the stock. Thus gives
thousand shares for services rendered or to be rem
deled to the company, and at the same time, brings
with him his friend c, who buys them of B at per
cent premium, such other rate the state Of the
without stroke Of q pen, and it is reported next
day as bona fde sale Of thousand shares at an ad
vanoed price.
The mere exposure Of such project ought to suc.
fee for its extinction and there are indications that
the public judgment is not msled with regard to 1t.
Not one respectable journal has yet been found to
lend itself to the schemeand dare say it has not
been fer want Of solicitation and proposals-while an
honorable war has been declared against it in many
quarters. In Congress, too it has TO encounter the
redoubtable opposition Of Col. Benton, Gen. Rusk,
and ether gentlemen, who cannot be seduced by the
alurements Of the most brilliant speculation in moon
shine shares. But its supporters active, their
power Of invention and intrigue great their offers
lavish and unless public attention Is kept alive to the
subject their project may become much more for
midable hindrance in the way of q genuine Pacific
railroad enterprise than the real friends of that great
national desioeratum now imagine.
II lie earnestly TO be hoped that the rext session Of
Congress should not pass by without the adoption of
some honest aud practicable plan for the building of
the road. The necessity is urgent and after the
port OF the officers sent out b. explore there will be
little difficulty in determiros which is the most easy
and advantageous route. What IL the best mode Of
getting the work accomplished will not go readily be
agreed on, hut IL is certain mat In form amp
ther the aid Of the government must be had. Ga
this head there s ore suggestion which may well be
borroged from the plan of Asa Whitney, a man Of
large mind and noble ideas, With whom the Pacific
Railioad vas something nore than stoei specu-
laton. Mr.. Whitney proposed that The road should