Glasgow weekly times. (Glasgow, Mo.) 1848-1861, 1853-02-03

st. Joseph road will be two hundred miles,
and the Iron Mountain branch will be seven
ty-iive miles, making an aggregate of one
thousand one hundred and three miles. At
the rate Of twenty-five thousand dollars per
mile. the cost Of constructing these roads
will be twenty-sevon millions, five hundred
and seventy-fve thousand dollars. This,
think, is about the average cost of railroads,
but to this we must add at least fifteen per
cent in consequence Of the high price Of ma
terial and labor. The whole sum, therefore
will far exceed fourth of the value of all
our taxable property. But let us look at
this consideration in another aspect, all our
taxable property is not productive, there
are large quantities Of valuable lands which
are uncultvated. But supposing that the
whole OF it yields six per cent. in value, the
entire annual product Of our industry is six
millions nine hundred thousand dollars
Upon the supposltion that our people could
live without food or clothing, and that our
population would not be increased by emf
grafton, 1t would require upward Of four
years 10 complete these roads by expending
upon them all the profits Of oursindustry;
, and upon the supposition that one.half OF our
annual products were expended upon them,
it would require upward of eight years TO
construct them. Massachusetts,, New York,
and perhaps Pennsylvania, are the only
States in the Union which have within their
bounds as many miles Of railroad as we have
resolved at the extra session 10 commence
They have built them SUCCESSFULLY in the
space Of twenty-five years. We have de-
termned 10 do at once what they accom-
plished in so great length Of time, and 10
do this without quarter Of their produce
:. tive population. Again, railway from our
western border TO the Pacific has been hith-
erto deemed a work so stupendous that the
resources of the General Government were
scarce thought sufficient for its completion;
:, and vet we have undertaken TO construct
, roads the aggregate length Of which would
reach far more than half the distance from
our western borders TO the Pacific ocean.
= The State now stands pledged TO loan her
:, credit in the form OF bonds TO the amount Of
;. eight millions two hundred and fifty Thousand
!. dollars; this loan is TO be made successve,
!, by the issue Of them in sums Of fifty thou.
sand dollars as rapidly as like amounts are
:. subscribed by individuals, towns and coun.
ties and expended by the companies. Du
4 ring this process The works will be advanc
:. ing our pop,ihtion and productive industry
:. will be increasing, in consequence of thc
), new prospective facilities for trade, The
). great fertility of our soil and the develop.
ment of our rich mineral Resources. The
= Hannibal. and 81 Joseph and the Pacific
- road have each large grants of land made to
! them by Congress, and it is probable that
ha 10 harnofiar En-
> mainder of the roads already projected
The whole of the means Ihave enumerated
i will not suffice to construct much over on,
y half of these roads. The consequence vii
', be that future further loan Of the credit o
:, the State will become necessary. This vii
= have 10 be done at an early day TO the Noril
- Missouri and the Iron Mountain roads if j
be not the pleasure Of Congress 10 make ap
preparations of land in aid Of them
> These are considerations which should in
j spire cautions and prudence or our part
i but when the plan OF our system is thor
oughly comprehended abroad, see no rca
son to fear if we pause where we are, tina
= our credit will be impaired. The progress
= of these works will be gradual and on
. means Of completing them are on the in
y crease. feel the utmost confidence tina
= our liabilities will be unquestonabe, pro
. vided we resolve 10 execute what we hav
y already undertaken before engaging in nev
enterprises. | am compelled, in candor, Il
say that if other projects are set on foot III,
: consequences, in my judi ment, will be dis
astrous in the extreme. There are othe
- considerations which should be reflected up
II on before we proceed further. If we null
-. tiply our projects and thereby reduce on
i bonds below their par value, all our hopes O
; a system of Internal improvements are ex
. tnguished at once and all which will hav,
- been expended by the companies prior Il
:, -, the issue of the bonds will be thrown away
:. The bills which herewith return provid
for the loan of the credit of the State f
20 to branches of the great trunks already pro
' vded for. Until the main trunks are com
-. pleted the branches will be of very littl
q value and will not yield enough to kce
e. them in repair. Why should we hazard OIL
~ credit and the prospect of constructing III
. main trunks when we are assured that I'm
! til they are constructed the branches will b
- Of little or no use?
y, Our State is now flooded with the depre
~ ciated bank paper of other portions OF III
" Union, free banking systems,are in opera
i, ton in neighboring States, and the genera
:. condition of the circulating medium indi
N Gates by iniallble signs an approaching re
- vulsion in the commercial and monetary n!
70 fairs of the country. Is it net our duty a
well as our interest to anticipate the catas
l. trophe, and provide as far as we can 70
N averting its consequences?
f. As the Executive Of the State, it is du
~ ty incumbent upon me TO consider other pos
h sible consequences 10 its treasury. If OH
10 projects are so multiplied as TO put so
70 TO them before they can be completed, wha
70 will be the consequence? Surprising tina
W each company resolves TO commence IT
IN road at one of the termini and construct
n, continuously toward the other. Idonot be
/ leive, that any of them half completed, woul
70 yield enough to keep them in repair; AM