The Perrysburg journal. [volume] (Perrysburg, Ohio) 1853-1861, 1854-12-09

value, that In fact larger amount OF money
may be received in a given time for alternate
sections than would have been realized for
all the sections without the impulse of the
proposed Improvement. A prudent prppri-
etor looks beyond the limited sections Of his
domain, beyond present results to the ul;i-
mate effect which the particular line of pol
icy is likely to produce upon all his posses
sions and interests. The government, which
is trustee in this matter for the people of the
states, is bound to take the same wise and
comprehensive views.
Prior TO and during the last session Of con-
gress, upwards of thirty millions of acres
were Withdrawn from public sale, with
view to applications for grants of this char
acter, pending before congress. A careful
review of the whole subject led me to direct
that all such orders be abrogated and the
lands restored to market; and instructions
were Immediately given to that effect. The
applications at the last session contempla-
ted the construction of more than five thou
sand miles of road and grants to the amount
of nearly twenty million acres Of the pub
lie domain.
Even admitting the right on the part of
congress to be unquestionable, is it quite
clear that the proposed grants would be pro-
ductive of good and not evil? The different
projects are confined for the present to elev-
en- states of the Union and one territory. The
reasons assigned for the grants show that it
is designed TO put the works speedily in pro-
cess of construction.
When we reflect that since the construc-
ton of railways in the United States, stim-
ulated as they have been by the large divid-
ends realized from the earliest works over
great thoroughfares, between the most i'm
portant points oil commerce and population,
Encouraged by state legislation, and pressed
forward by the amazing energy of private
enterprise, only 1900 miles have been COM
plated in all the states in quarter of cen
tury when we see the crippled condition
of many works commenced and prosecuted
on what we deem sound principles and safe
calculation when we contemplate the enor-
nous absorption of capital withdrawn from
the ordinary channels of business, the ex
travagant rates of interest at this moment
, paid to continue operations, the bankrupt,
cies not merely in money but in characte
; and the inevitable effect upon finances gen.
orally, can it be doubted that the tendency
is to run to extremes in this matter?
Is it wise to augment this excess by en-
couraging hopes of sudden wealth expected
to flow from magnificent schemes, dependen,
upon the action of congress? Does the spi-
rit which produced such results need to be
stimulated or checked? Is it not better
rule to leave all these works to private en-,
terprise, and, when expedient, aided by the
cooperation of states? If constructed by
, private capital, the stimulant and the checl
, go together, and furnish salutary restrain
: against speculative schemes and extrava
gance. 1t is manifest that, with the mos
effective guards, there is danger of going too
fast and too far.
5 We may we'll pause before proposition
) contemplating simultaneous movement fo
the construction of railroads, which, in ex
tent, equal, exclusive of the great Pacific
road and all its branches, nearly one third o
5 the entire length Of such works now com
? pleted in the United States, which cannot
with equipments, cost less than $l50000,
600. The dangers likely to result from com
binations of interests of this character car
l hardly be over estimated, but, independen
Of these considerations, where is the accu
rate knowledge, the comprehensive intelli
: gence, which shall discriminate between tn,
relative claims Of these twenty-eight pro
posed roads. i'll eleven states and one terrific
S ry? Where will you blgin and end !
If, to enable those companies to execute
Y their proposed works, it is necessary tha
} the aid of the general government, prmari
f ly be given, the policy will present prob