Hannibal journal. (Hannibal, Mo.) 1852-1853, 1853-02-03

the government Of the United States has no
public lands to grant within the limits Of that
State"
BY contracts with the States conoerned, these
roads are to be completed in five years, except.
ing the California branches, and the territorial, |
which, from their greater extent, and difficult
les of construction, are allowed an extension of
ten yoars-CoGgress TO regulate freights and
Thresholds to be delivered up to government
in thirty yeors-all government officials and
transportation TO pass over the road in tbs mean
time, free of charge, and TO have the preference
Of transit &c.
Tie objections to this plan are the same as
those which apply to Col. Benton's, but in a
more aggravated form. The plan is too stupen-
dous-embraces too many objects and prospects,
at the same time, and we apprehend, if attempt
ed, would be found to be utterly unmanageabe
Under this impression, therefor c, without fur
Their argument, we are constrained to drop the
plan of Mr. Gwin.
We come now TO the plan of the New York
Atlantic and Pacific Railroad Company. A bill
is now before our State Legislature for the in
corporal ION Of this company. After making the
necesSary provisions for the survey Of the route
the bill provided that the company shall finish
single track to the Pacific in five years and
for line, also, OF magnetic telegraph. The
capital stock is fixed at a hundred millions, in
shares of a thousand dollars each.
The company proposes to build say fifty miles
Of road, upon which the government Of the Uni
ted States will issue bonds TO the company, at so
much per mile; and when fifty miles more are
completed, another issue of bonds at fixed
amount per mile, to be issued, and so on until
the entire work is completed to San Diego
For this loan Of credit, to whatever extent it
may be, within thirty millions of dollars, the
company propose to carry the mails, officials,
naval and other stores in fact, TO trans port
from the Atlantic to the Pacific all government
matter and MATERIAL of any kind, for period
Of thirty years, free of all charge. This service
a saving in the mails alone of 100000 year
will be worth to the government at least three
millions Of dollars per annum, which in thirty
years will amount with interest on expenditures
as now made, to upwards of one hundred mil
lions Of dollars. This immense sum will be
saved to the people of the United States for the
mere loan Of the government credit to this com
pany for thirty millions Of dollars. Every dol
lar Of this credit will be protected by the rail-
road company, and every dollar liquidated, per-
haps before maturity.
To give some idea Of the resources of this
company, aud of the kind Of men engaged in
this great national enterprise, it is only neHessa
ny to state that Peter Cooper, of New Jersey,
vii! furnish the IRON and the Messrs. Norris,
of Pennsy lvania, the motive power. Contract
ors of experience, capital, energy and perseve-
rance, have already offered to put the whole line
in the hands of engineers and aborers, and have
agreed 70 complete the work within FIVE wears.
There is no doubt this can be accomplished, as
wonderful ana extraordinary as IL may appear.
The route contemplated is the most feasible OF
any yet surveyed, and if ever railroad TO the
Pacific is constructed, i WILL most probably, be
along the line proposed by this company
The advantages, then, presented by this plan
are, lrSt, that it combines the public credit and
large organization Of private capital, skill
means materials machinery and enterprise in
this great work. This is the best and the only
practicable sort of combination fer the success
of so vast scheme. Undertaken by tho Gov
eminent alone, or by the Government in con-
! junction with the States, the work would Ian
guish from bad management, from excessive ex-
penditures, needless delays, and from continual
changes from one set Of managers to another,
through the intrigues and corruptions of our po-
| litcal elections. On the other hand, no private
company upon its own resources, could either
undertake or accomplish this work, requiring
; the basis of a capital of a hundred millions. -
We have too many other investments Of private
= capital. The work must necessarily depend
) upon combination of private enterprise and
capital, and the credit Of the Government to be-
gin with Then, again, the great object of first
accomplishing the main trunk, in a single track
: to the Pacific, is here properly made the leading
! idea The object attained, the rest of the work,
and all its tributary lines, will be comparatively
easy.
1t would be a work Of supererogation to re-
capttulate the ADVANCES which would accrue to
the country and the government from railroad
across the breast Of the continent TO the Pacific
These advantages aye manifest. il you'd bind
the Atlantic and Pacific slopes Of the Union
firmly together--it would settle and develop the
resources of those vast ur.inhabited wastes be-
tween the Mississippi and the Pacifc-it would
reduce the cost of the trip TO San Francisco
from five hundred dollars or less-it would in
demnify the government for any outlay, and it
: would ultimately pay the cost of construction
in the article Of gold alone; it would bring, with
steam lines 10 China and Australia, the llimita-
E BILE riches Of Asia, and its monstrous Gordon of
golden islands, via San Francisco TO New York
to thirty days. The European route to China
would be by this port, and by the Pacific rail-
road and the Pacific Ocean. 1t would make
New York and San Francisco as they must ul-
tmately be tle queen cities of the earth. In
! deed though we may annex all Mexico apd
Central America, and open all their lines of
oceanic INSTRUMENTATION the necessities and
advantages Of the Pacific railroad will be scarce
Ily diminished.
The subject is now before Congress, and q
, feasible plan is at length submitted for their
consideration. Let them act upon it, or upon
some such plan, and the great problem will soon