Washington telegraph., 1853-10-05
The Prospect.

The Prospect.
Now that the reservation of land for the
Cairo and Fulton Railroad has been extend
ed, the inquiry naturally arises will the
State be benefited by the extension We
fear not and at the hazard of being deem
ed hostile to His Excellency. and laying
ourselves obnoxious to the charge OF un-
/ friendliness to the Cairo and Fulton road
for we believe all are so regarded who do
not think precisely with its prominent man.
aeers,-we will proceed to state our reasons
| for this-opinion. In the first place, Ii we
may judge the future by the past, 1t Is but
fair presumption that no steps VIII be taken
within the next six months, to vest III the
State, the right to the land And in the
next place, We fear. from appearances in the
money market, that the golden moment has
passed when the lands, if secured, can be
readily made available We learn from the
money articles of the New York press, that
the rates of interest on all kinds of securl-
/ ties are advancing, and that the money mar
ket is tightening every day. We see too,
that Mr. RoBB, of New Orleans who visit
ed Europe for the purpose of negotiating
the bonds of the New Orleans, jackson and
Great Northern Railroad Company, as well
as many other American agents, who visited
Europe for similar purposes, have returned
unsuccessful. Amongst the reasons stated
| for these failures. is the advancing rates of
money in the English market, together
with the very large amounts already invest
cd in the various Railroad enterprises in the
United States In the face of these unsuc-
cessful attempts to procure capital on un-
questionable securities, and the demand for
money for Railroad purposes still increas-
ing we ask, in all candor. what are the
prospects of securing the means necessary
to construct the proposed roads in Arkansas,
even admitting that the lands were secured
by proper legislative action
Amongst the most prominent reasons
heretofore assigned by this paper, in advo-
eating called Session of the Legislature,
was that there was danger in delay,--that a
revolution might take place in the money
market, or that so much capital might be in
vested in the various enterprises that were
urged upon the attention of capitalists, that
the tardy policy which seemed to control the
Executive, and managers of the Cairo and
Fulton Railroad Company, might fail TO
secure the means necessary to build their
road when they were prepared to go into
market with their bonds. None viii rejoice
more than we, if we are deceived-no one
will extend more unreserved praise to the
managers of the Cairo and Fulton road
than we viii, if they succeed, for we were
amongst the first, as we have been anon ost
| the most steady and unfiinchiuq advocates of
! internal improvementsi Arkansas. Wear
/ denily hope that time viii demonstrate the
wisdom and sound policy Of the course
pursued by the Governor, and managers Of
the Cairo and Fulton company, ard that
success will entitle him to The confidence of
the people over whom be has been called
for the time to preside, and them to the graf
itude of their fellow citizens over whose
greatest interest they have had control
But the tardy policy they have seen fit to
pursue. is one of great responsibility to
them. and Of deep peril to the best interest
of the State, for who doubts for moment,
that if prompt and energetic action had been
taken, as soon as the grant by the General
Government was made to the State, that
means sufficient to have built the road could
have been secured And who that looks
steadily at events as they are passing before
us, but entertainsa fear that delay may cause
a failure
Prompted by the deep and abiding inter
est we feel in the prosperity of Arkansas,
we reiterate the hope, that the Governor 5
course has been dictated by wisdom, and that
complete and triumphant success may pnt
to eight the fears, and silence the complaints
of all. The evils of the reservation, If
there be any, are again upon the State for
six months to come, and we shall look with
great anxiety to the course the Governor
may see fit to pursue.
Gaines Landing and Fulton Rail-
Road.
| The attention of stocE holders IN ,L:e rood