The Ashland union. [volume] (Ashland, Ashland County, Ohio) 1854-1868, 1854-08-16
IFrom the New orleans Deits, July a4l
THE GRANDEST SCHEME OF MOD.
ERN TIMES.

ERN TIMES.
AN EMPIRE GIVEN TO A.RAILaoAD Com
PANY.-A few days ago Mr.. Robert J.
Walker, late Secretary of the Treasury
accompanied, we believe, by Mr.. Jaudon,
late cashier Of the United States Bank,
and still later the drawee of sundry bills
held by citizens of New Orleans, which
remain unpaid to this day, to the ruin
and despair of hundreds.o of people, passed
through our city on his way to Texas,
bearing with him $1,000, 900 of Texas
bonds, valued, according to the Texas
graduation, at $500, 900. This sum is to
be deposited in the hands of the COVER
nor of Texas, in behalf of the Grand
Pacific Railroad, of which Mr.. Walker
is stockholder to the amount of ten
millions and various other citizens, in
Guiding the Rev. Counsellor, Joel G..
Sever, late of this city, whose stock only
amounts to the modest sum of $500, 900
own immense amounts.
Now, extravagant as the whole scheme
has seemed, Mr.. Walker, by his address,
skill and management, and without any
violation of any law or other improprie-
ty, has placed it in train which prom
ises the most magnificent results. The
State of Texas-in a moment of mad
ness and folly unparalleled in the annals
of legislative insanity-passed law do
mating twenty sections per mile to any
company which shall build a road across
its territory, near the parallel of %, on
the simple condition that said company
shall commence the road by the 18th of
August, and 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 con-
ditions, this company will receive scrip
tions which takes preference of all others,
for twenty sections of land per mile, for
over eight hundred miles, making over
ten millions of acres of land, the aver
age value of which, we understand, will
be nearly, if not quite, one hundred
millions of dollars Now the highest
estimate of the cost of road, from the
Mississippi to the Rio Grande, has new
er exceeded twenty millions, for the
building of which this company will re-
ceive 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 Chat6eld, Walkers predecessor in
the grand Pacific, alias Moonshine road,
to dispose of its charter. Pending these
negotiations, some legal gentleman of
Texas, who happened to hear of the mat
ter, called on the President of the COM
pany, and asked how much of the stock
was unsubscribed, were informed that
there were twenty millions. They i'm
mediately entered their names for that
balance; and when Mr.. Chatfeld came
to close his purchase, they required him
to pay one hundred thousand dollars for
their share of the stock. This was the
single advantage obtained by Texas
throughout this whole negotiation. All
the rest, we consider, displays the most
extraordinary infatuation on the part of
the people of Texas, to say nothing of
the responsibility incurred by the lead
ing managers in this affair, who repre-
sented the interest of the State, and were
bound to protect it.
The Moonshine Company obtained the
additional sixteen sections per mile be-
longing to the Ell Paso road; and if they
get from Governor Pease, of which there
is little doubt, the latter grant of twenty
sections, all that will be necessary to en-
joy both rights will be to build double
track railroad. Thereupon this com.
pany, started upon moonshine, will be-
come the owners of the largest capital
ever held by corporation, and the peo-
pie of Texas will have sold their birth
right for less than a mess of pottage.-
Walker and his companions are blame
less in the matter. They respond to the
invitation of the State, and though there
is not cent of their stock taken in Tex
as, they come with the cash, and with a
brigade of contractors and workmen,
who have already commenced work in
Eastern Texas, complying fully with all
the conditions prescribed.
General Rusk, the Senator from Tex
as, gives his full sanction to the scheme,
and SO do Governor Pease and the Legis-
lature, and as the people appear to ae-
quiesce in it, we cannot see that anybody
else has much cause of complaint, how
ever great may be their astonishment at
the "madness which rules the hour" In
certain parts Of our country in regard to
railroads and reckless appropriations of
the public domain.
The 0cc6TAsTs OF THE PRESIDENTIAL
MANsIoN.-The Boston Transcript, in
recording the death of Miss Fillmore,
says: .-.,e7
Death has been busy, of late years,