New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1854-06-15
TIE PACIElC RAILROAD.

| We cherish an ardent, unwAverng faith IN the lea
sibility well importance of Direct Railroad 10
the Pacifc-a faith not only that it rW be built some
time and prove a blessing TO mankind but that IL
ought TO be built forthwith and would prove prom "a
| bile investment from the start In other words, We
believe the property that would be created by 'ne
construction of this Road-the value that would De
given By il TO lands mines timber, and other natura'
resources which in its absence have little or no
would more than balance it, cost so that the worn
| ,.eI, uou,d be 20 much clear gain. And, while we
ould ma, like 70 see so vast Il work undertaken OF
..ad hr any Government we decidedly favor the
GRANTING Of effective aid by our Federal Government
TO any responsible and capable association "n,'" WIN
undertake the worn In our Judgment the Govern
meut oueb to advance Thirty Millions IN Cash 10 IN!
Coupany that would agree to connect tne mississippi
with the Pacific by Railroad within five years and 10
snend One Million of its own pad-up capitai as pre-
limuary to requiring aMiiOn of the Government ana
50 ON TO the end Then We think the Government
sbould reserve from sale all the Pacific Lands
within ten miles Of its route, have them fairly
appraised and opened to entry by settlers only
in manifestations less. and give, or rather pay,
the Railroad Company all the value which it had con-
ferred on those lands counting their original value
nothing and leaving all the lands outside Of this mar
row belt subject to entry in quarter sections without
price. Then it should stipuate to pay the Road
fairly, as other Railroads are paid for frstcass Mail
service for conveying daily mail each way from the
Mississippi to the Pacific. BY such profers we be-
eve our solid capitalists could be induced to under
take the work and that men of moderate means would
invest their hundreds and thousands as stockholders,
g.. FIR With
energy and iberaty the work may be pushed through
in few years and will contribute to the growth
and greatness of country to her industrial devel
opment and commercial ascendancy than the acqnl-
stion of the whole Continent from Greenland TO Pats-
gona.
But, while we were an early and have been an
ardent friend of the Pacific Road. we have for that
reason stood soof from and adverse what calls itself
"Tle Atlantic and Pacific Railway Company" under
Charter from our State with Mr.. Levi S. Chatfeld
as its President We have regarded this Company MS
organized and managed on false principles, without
capital OF the of procuring it, and without the
array of names in its direction necessary to inspire
faith in its ability and management In short we have
regarded this Company as deploIably in the way oil
the construction of any Railroad 70 the Pacific, and
certain to dscredi embarrass andobsruct TIE whole
enterprise in its outset and progress.
We have before an Expose just issued by Mr.. C.
c. PEBBLES of The Neu- York Examiner which strongly
confirms our impressions. Mr. PEBBLES appears to
understand his subject and his revelations bear the
internal stamp of truth. Here are specimens;
This company PROCESSES TO have subscribed capital
If ne hundred millions of dollars, which mill
on the dollar was payable at the outset, and is pre-
sumed 10 have been somehow paid, giving an actual
cash capital of 100000. Afurther assessment OF one
cent on the dollar has been laid but it is understood
that very little any of it has been paid Indeed the
list OF stockholders given by Mr.. PEBBLES isproo pre-
sumptiye that it will not, cannot be until the stock
changes hands. The following is his list of stock
holders TO the amount of II 600 000 or more each