Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1853-12-10
THE PACIFIC RAILROAD.
FOR THE NATIONAL 1srELLloEscrR.


roads to the Pacific, By CHAs ELLET Jr., Civil Engineer.
RICHMOND (vA.) DECEMBER /, 1853.
One may well hesitate to offer additional plan for
securing the construction of railroad the Pacific to
be thrown in among the multitude Of suggestions already
before the country But still feel inclined make my
humble contribution venturng to express the conviction
that If its general features adopted it will at least
insure the rapid construction of not only but all The
roads from the Mississippi to the Pacific that it may be
the pleasure of Congress to authorize and encourage
To the prompt filling up of the subscription list
propose that each subscriber shall receive for every
share of stock for which he may subscribe and for which
he shall pay in cash at the time Of subscribing in add
ton to his stock, land of value equal the
Governmental price of land to the value of the share
To guard against monopoly of the land and of the stock
propose that the number of shares which may be taken
in any shall be limited Briefly my plan is this
l. Congress shall charter great Northern and one
great Southern company, with power to the first
struc railroad from the boundary Of Missouri
to the eastern boundary of California by northern route
and to the second to construct road from the
boundary Of Arkansas to the eastern boundary of Cali
fornia, by the ella or best southern route
H. Congress shall also charter company with power
to construct branch road from any point the western
boundary of Iowa to any point the northern line
more than 800 miles of its eastern terminus and
another company with like power to construct branch
road from any point the boundary of Texas
any point the southern line not than 800 miles
west of the eastern terminus of that line.
I'LL The Northern companies shall have the right with
the of the States of Iowa and Missouri to extend
ter roads eastwardy the said States to the Mis-
sissppi river and the Southern companies shall have
like power with the of the States of Arkansas
and Texas to lay their respective lines through any por
ton of the said States roded that the right to extend
their roads eastwardy from the boundaries of
the several States shall not be exercised exist until
at least 800 miles eaoh main line the whole
length of each branch line Of aforesaid States
shall have been completed and brought into use.
Nv. Both the Northern and Southern company shall
have the right to extend their respective roads across the
State of California with the consent of the Legislature
of that State, to the shore of the Pacific
" Each of the companies SO chartered shall have the
right to connect with any roads running from their east
ern termin to the Mississippi river from their west
termn to the Pacific ocean, and with the consent of
the States under which such companies hold their chart
to contract with the said companies either for an en-
tire amagamaton of their respective Stocks or for such
limited union as may to the contracting parties best
to promote their mutual interests.
W. lhe amount OF aggregate capital of each of the
companies so to be chartered shall be subject to such
limitations as Congress may hereafter from time to time
prescribe The value of the shares shall be $50 each
VII. Subscription books shall be opened simultane-
ousy due notice. to be published by proclamation Of
the President Of the United States the capital Of every
State In the Union, at the city Of Washington and
rally at all the great commercial cities of the country
and shall be kept open for period Of thirty days
VIII No person shall be permitted to subscribe for
more than ten shares of stock S500 but heads of ia
miles may subscribe for shares for and in the name
of each member Of their families
TX For each share Of stock taken the value thereof
$500 shall be paid to the commissioners gold or silver
at the time of subscribing.
X There shall be issued 70 each suhecr;har fr zach
share of stock for which he shall have subscribed and
paid certificate in the usual FORM and together there
WITH 1dnd-'corrdn for forty acres, with the right
ter the same any Of the public lands of the United
States which may be subject to entry.
XII After the expiration of thirty days the books shall
be closed and the subscribers each road whether few
or many shall be an Incorporated company, capable of
sueng and being sued.
xII The several companies shall then be organized by
the appointment Of President and three Directors for
each line OF road which appointments shall be made by
Senate.
Kill When the capital subscribed shall have been
In prosecuting the legitimate works Of either of
the several companies or in the judgment of the Board
Oh DIRECTORS is expedent to provide additional funds
IN anticipation of its exhaustion the said Board of D
recors shall certify the fact the President of the United
States who shall thereupon issue his proclamation di
eong the reopening of the books before by commits
soners to be by him appointed the books again to con-
nue open for thirty days. with the same limitations of
the amounts which may be subscribed by any person.
no pelore PROVIDED.
XIV. Persons who subscribed at the first opening of
the books shall not be prohibited from subscribing at the
second or any subsequent opening thereof.
XIV The tenure OF Office of the President of each com
pany shall be four years. unless he be removed by
the appointing power The tenure of the Directors shall
De such that one shall go out every year. and his
sor snail serve Tor four years, unless removed
The President and Directors shall receive liberal sala-
RES to be established by law, and paid of the funds
OF the company They shall act of the stock
holders and shall represent their interests in all things
with the same authority would under ordinary char
ters De exercised by the stockholders themselves If they
could be convened in general meeting
8Vl. Whenever the stockholders Of either company
shall choose to meet In general convention and the hold
ers OF majority Of all the stock in the company shall
vote for President and Directors other than those APP
pointed by the President of the United States then the
appontees of the President shall be superseded in office
by the persons chosen by the stockholders But it,
any time thereafter the stockholders should fail to elect
their officers it shall be the duty of the President of
the United States again TO exercise the power originally
conferred on him, and ill the vacancies.
XVII The President and Directors shall have power TO
appoint all other officers and agents Of the company e
ceptng the Treasurer, who shall be appointed by the
President of the United States, and confirmed by the
Senate.
XVIII The Boards thus constituted shall forthwith
commence locating, and with all reasonable dsnatob
construcnng, their respective roads
XIX The road beds of each Of the roads shall be Grad
ed for two tracks, excepting at the wbers thew
shall be graded for double sidings on each side