The Athens post. [volume] (Athens, Tenn.) 1848-1917, 1854-10-06
RAILROAD SECURITIES.
The following excellent remarks are from

The following excellent remarks are from
the New York Journal of Commerce:
Recent events have cfTectually checked tn,
establishment Of new railroads throughou
the country. and removed all uncasincss tina
much capital will Immediately throw int,
this channel. This complete change in the
tendency of affairs was necessary for the Sc
crriiy of the country in financial matters. ana
could only be accomplished through shock
| OF the scvcrc,t character. 1t is the unlortu
nate result, however, of sudden and great
change in the habits of the community with
respect TO investments, that the di>.rust
which in part occasions it, is powerfully CON-
muncatcd 10 other interests, which are emf.
nentIy entitled TO the public confidence. The
railroads in the United States. in actual opc-
ration, amount 10 between fifteen and sixteen
Thousand miles, upon which there has been
nm actual expenditure Of about five hundred
millions of dollars. The most cautious f.
nancicr in the Stale observed to us in Il con
ycrsation with respect TO The endorsements
now existing. that the roads had added more
than This sum to the productive power Of his
country, and TO the value of OF other properly.
They constitute the main Instruments Of in
tcrnal transportation Of nearly every State
in the Union: and such is their extent that
they may be said TO enter into all the rcla-
tons between man and man in every quarter
of the United States. They perform II
HIGH service in Il social and political point
Of view. They cement communities and
States together, and have Il powerful niin-
cncc in defeating aIl attempts TO disturb the
harmony OF the country. In time Of trou-
bic from external enemies, they will be found
70 constitute Il great arm OF scI.dclcnrc. and
render lis inynrbic AGAINST foreign attack
II must at once he seen. that such interests
are entitled TO favor and ur""rliur, and tha.
dlsirnst cannot be cNtcudei 10 what is 20
vast, widespread and so valuable, without
great manifest wrong aud injury.
And yet, licamount Of cHpil;l thus invest
cd, so Great when viewed by Itself becomes
far less imposing wien compared with Other
interests. The amount apitaI invested in
i've stock in the United States, appears BY
tle last ccns;ls. - exceed that invested in
railroads, BY upwards Of loriy.thrcc millions
Of dollars. The cap ial invested in mannI,,cto-
ne, projuciuG over :: 500 per annrm, exceeds
tina, invested in railroads over ihifiv millions
Of dollars. The total amount Of GOLD dcpos.
tied in our minis. obtained from California in
six years, through the industry Of small
population, i, cgu, to about onc.haf the
whole capital invested in these roads, in he
construction Of which IN infinitely Iar.cr
amount Of tabor has been expended than in
the mines Of California.
These comparisons present the subject of
railroad investments in Il more different liglt
than would be IMAGINED possible by those
who listen 10 the Interested rcpinings OF
zion wI,rh Investments or,I;s ch,r,cior ,r,
sunno.c1 tn crn.,o Lnrn,J ,h". ~ l,,,:,;
NIT. and o,ncd;ont Will, !, r.., r;nLt ~
r,,nly cEocE 70 ,h, cro',inn or r.,,. ,n,'j, :,
is whoIIv rni,,.t md wrcnr md I,moa;rr