Anti-slavery bugle. [volume] (New-Lisbon, Ohio) 1845-1861, 1854-08-12
lfrom the New Orleans Delta, July al
TIMES.
Az Empire given 10 a Railroad Company.

A few days ago Mr.. Robert J. Walker, late Sec
rotary of the Treasury, accompanied, we believe,
by MIR. Jaudon, late cashier of the United States
Bank, and still later the draweo of sundry bills
held by citizens Of New Orleans. which remain
unpaid to this day, to the ruin and despair of hun
dreds of people, passed through our city on his
way to Texas, bearing with him one million of
dollars of Texas bonds, valued, according to the
Texas graduation, at 100000. This sum is to be
deposited in the hands of the governor Of Texas,
in behalf of the Grand Pacific Railroad, of which
MIR, Walker is a stakeholder to the amount of ten
millions, and various other itizens-includiug the
Rev. Counsellor Joel G. Sever, late of this city,
whose stock only amounts to the modest sum of
$500, 000-own immense amounts.
Nov, extravagant rs this whole scheme has
seemed, Mr.. Walker, by his address, skill and
management, and without any violation of any
law or other improperly, has placed it in a train
which promises the most magnificent results. The
state of Texas-in a moment of madness and folly
unparalleled in the annals of Legislative insanity
passed Il law donating twenty sections per mile to
any persons which shall build a road across its
territory, near the parallel of 80, on the simple
condition that said company shall mt the
road by the 10Th August, md shall deposit $500,
600 in the State Treasury, which the company can
draw out as soon as it finishes the first fifty miles
of the road; that then the said fifty miles of the
completed road shall be pledged for the completion
OF the remainder. On these simple conditions,
this company will receive scrip which takes pref
erence of all others, for twenty sections of land
per mile, for over eight hundred miles, making
over ten millions of acres of land, the average val
ne OF which, we understand Wlll be nearly, if not
quite, one hundred millions of dollars! Now, the
highest estimate of the cost of a road, from the
Mississippi to the Rio Grande, has never exceeded
twenty millions, for the building of which this
company will receive land worth one hundred
millions!
But this is not all. There was an old charter in
Texas. creating the company called the Ell Paso
and Vicksburg road, to which had been previously
granted sixteen sections per mile; and this COM
pany having organized, not being able to sell its
stock, entered into negotiations with Chatfeld,
Walkers predecessor in the grand Pacific, alias
Moonshinc road, to dispose of its charter. Pend.
ing these negotiations, some legal gentlemen OF
Texas, who happened to hear of the matter, called
on the President of the company, and asked how
much of the stock was unsutscribed, were inform
ed that there were twenty millions. They imme-
diately entered their names for that balance and
when Mr.. Chatield came to close his purchase,
they required him to pay 100000 for their share
of the stock. This was the single advantage OBJ.
tanned by Texas throughout this whole negotiation,
All the rest, we consider, displays the most extra.
ordinary infatuation on the part of the people Of
Texas, to say nothing of the responsibility incur
red by the leading managers in this affair, who
represented the interest Of the state, and were
bound to protect it.
The Moonshlnc Company obtained the additional
sixteen sections per mile belonging to the Ell Pasc
road, and if they get from Governor Pease, o.
which there is little doubt, the later grant Of
twenty sections, all that will be necessary to enjoy
both rights will be to build a double track railroad
Thereupon this company, started upon moonshine
will become the owners of the largest capital evei
held by "a corporation, and the people of Texas will
have sold their birthright for less than a mess O.
!, pottage. Walker and his companions are blameles:
!, in the matter. They respond to the invitation O.
the State, and though there is not a cent of thei1
stock taken in Texas, they come with the cash, ant
with a brigade OF contractors and w~orkmen, who
have already commenced work in Eastern Texas
complying fully with all the conditions prescribed
, General Rusk, the Senator from Texas, gives hI
a full sanction to the scheme, and so do Governor
: Pease and the legislature, and as the people appeal
/ to acquiesce in it, we cannot see that anybody ese
has much cause of complaint, however great ma,
h be their establishment at the madness which rules
+ the hour" in certain parts of our country, in regarC
= to railroads and reckless appropriations of thu
q public domain.