The Union and eastern journal. [volume] (Biddeford [Me.]) 1854-1858, 1854-08-25
m, f,raudest scheme of MODEM Times.


An Empire Girsn to Railroad Couipa-
ny. A few days ago, Mr.. Robert ]. Walk
er, the Secretary OF the Treasury, accom-
panied we believe, by Mr. Iaudvn, late
CahieS OF the United States Bank, and still
lu,es drawee Of sundry bills held by citizens
Of New Orleans, which remain unpaid 10
lhis day, TO the ruin aud despair ofhundreds
OF people, passed Though our city OH his
way to TeSas, bearing with him 81 900 900
Of Texas bopds, valued, sccorLmg 10 The
Texas graduation, Of 100000. This sun. ia
to DO deposited in The hands Of the Governor
Of Texas, in behalf OF the cTand Pacific
Railroad ; Of which Mr.. Walker il stock.
holder 10 the amour, OF ten millions, and
various o,bes misunderstanding The Rev.
Counsellor loci G.. Sever, late Of this city,
whose stock only amounts 10 the modest
sum Of S5o0o00-own immense amounts.
Now, eStrayagani rs the whole scheme
has seemed, Mr. Walker, hy his address
skill, and management, and without any
violation Of any law or other Improperly,
has placed i in a train which promises The
most magnificent results. The State Of
Texas. in momen, Of madness and folly
unparalleled in the annals Of legislative in.
saniiy--passed a law donating 20 sections
per mile 10 any company which shall build
road across lie territory, near the parallel
OF 80, Oh the simple condition that said
company shall commence the road on the
Iaih oi August, aud shall deposit $500, 900
in The State treasury, which the company
can dgaw out as soon Us il finishes the first
so miles Of the road that then the said
so miles OF tue completed road shall be
pledged Tor The completion OF The remain
der, OF these simple condition. this COM
pany will receive scrip which takes prefer.
ence VI all others, for 20 sections Of land
per nile, for over 500 miles, making over
10, 600, 900 Of acres Of land, The average val
We Of which, we understand, will be nearly,
if no, quite, 100000, 900. Now, the
hishes, estimate Of the COS, Of road, from
The Mississippi TO The Rio Grande, has
never exceeded 500, 200. 900 for The build
Ing Of which, this company will receive
land worth 500 900 900.
Rp, this is no, all. There was an old
chatter in Texas, creating the company
called III Paso and Vicksburg road, 10 which
had been previously granted sixteen sec
,ivRs per mile: and this company having
organized, not being able 10 sell lis stock,
entered into negotiations with Chaiield,
Walkers predecessor in the grand Pacific
alias the Moonshne road, 10 dispose OF its
charter. Pending these negotiations, some
le:a! aal,leSen OF Texas. who happened 20
hear Of The matter. called on the president
Of The company. and asked how much. Of
the stock was pnsubseribed, aud were in
formed that there were twenty milliOns.--
They Immediately entered their names for
that balance and when Mr.. Chaliied
caRs 10 close his purchase, they required
him 10 pay one hundred thousand dollars for
their share Of the stock. This was the SIM
Gle advantage Obtained by Texas through
on, this whole negotiation, All the rest, we
consider, displays the extraordinary inlalu-
aiiaR on the part Of the people OF Texas, TO
say nothing Of ihe responsibility incurred
by tho leading managers ia this affair, who
represented the interest OF the State aud
were bound TO protect il.
The Moonshine Company obtained the
additional sixteen seclio,s per mile belong
ing 10 the FL Paso road, and il they sc, from
Gov. Pease, OF which there is lille doubt
the later gran, Of twenty sections, all That
will be necessary 10 enjoy both rights will
DO TO build double track railroad. There
upon. this company, started upon moonshlne
will become the owners oflhe largest capital
ever held by corporation, and the people
Of Texas will have sold their bithrighl
for less than mess Of po,lage. Walker
aud his companions are blameless in the
matter. They respond TO The invitation OF
the State, aud though there is not a cen, OF
their stock taken in Texas, they come with
the cash, and with brigade Of contractors
and workmen, who have already commenc-
cd work in Eastern Texas, complying fully
with all tho conditions prescribed.
Gen. Rusk Senator from Texas, gives
his iull sanction 10 The scheme, and so
did Gnvenor Pease aud The Legislature,
and as the people appear 10 acquiesce in il
We oapno, see that anybody else has much
cause Of complaint, however great may be
iheir a.tonishmen, a, the madness which
rules The hour" in certain parts Of our coun-
try in regard to railroads and reckless
appropriations Of he public domoin.-N.
q. Dslid.