The Evansville daily journal., 1854-12-07

fact that since 19s lie than % 900 Of have
The suggestions, which submtsedin my annual mes
sage OF lat references TO grants OF land and In
aid of the construction or railways, les. and
explicit than the magnitude Of the subjec and subse-
qucnt development would seem 10 render proper and
desirable. Ofthe soundness Of the principle thea
serted regard Limitation of the power Con-
gress, entertain doubt but la its application IL Is
enough that the value oflands In particular loca
" may be enhanced: that, in fact larger amount Of
money may probs bly, be received in given time for
alternate sectoEs without the impulse and innusnee
Of the proposed Improvements. prudent proprietor
present results 70 the ultimate effect which partieu
lar line ofpolicy is likely ~ produee upon all his pos
sessions 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
view. Prior to, and during the last session
Of Congress, upwards OF thirty millions of
acres OF land were withdrawn from public
sale with view to applications for gratis Of
this character 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 instruc.
tions were Immediately g We to that effect.
The applications at the last session contem.
plated the construction Of more than five
thousand miles Of road, and grants to the
amount Of nearly twenty millions Of acres OF
the public domain. Even admitting the
right on the part Of Congress to be unques.
tionable, is it quite clear that the proposed
grants would be productive OF good, AID not
evil! The different projects. are confined for
the present, to eleven States Of this Union,
and one Territory. The reasons assigned
for the grants, show that is proposed t. put
the works speedily in process of construc.
ton.
When we reflect {. at since the com.
mencement of the construction of railways
in the United States, stimulated as they
have been by the large dividends realized
from the earlier works over the great thor
oughfares, and between the most important
points Of commerce and population, encour.
aged by State legislation, and pressed for
ward by the amazing energy Of private en-
terprise, only seventeen thousand miles have
been compleifd in all the States in quar-
ter Of q century when we see the crippled
condition of many works commenced and
prosecuted upon what were deemed to be
sound principles, and safe calculations;
when we contemplate the enormous sbsorp-
ton Of capital Withdrawn from the ordinary
channels Of business, the extravagant rates
Of interest at this moment paid to continue
perations, the bankruptcies not merely in
money, but in character, and the inevitable
effect upon finances generally; can il be
doubted that the tendency is to run to ex-
cess in this matter! Is it wise to augme mt
this excess by encouraging hopes of sudden
wealth expected 10 flow from magnificent
schemes dependent upon the action Of Con.
gress! Does the spirit, which has produced
such results, need To be stimulated or check.
ed! Is il not the better rule TO leave ali
these works to private enterprise, regulated,
and, when expedlent, aided 6y the co-opera a.
tion OF States! IL constructed by private
capital, the stimulant and the check 90 TO.
gether, and furnish n salutary restraint
against speculative schemes and exIrava.
gance.
But it is manifest that, with the most
effective guards. there is danger of going
too fast and too far. We may well pause
before proposition contemplating a SIM
ultaneOus movement for the construction
of railroads, which, in extent will equal
exclusive Of the great Pacific road and all
its branches, nearly one-third of the entire
length of such works, now completed, in
the United States, and which canno: cost,
with equipments, less than $50, ,OOO, 600.
The dangers likely to result from combina-
tons of interests of this character, can
hardly be over estimated. But. independ-
emily of these considerations, there is the
accurate knowledge, the comprehensive
intelligence, which shall discriminate be-
tween the relative claims Of these twenty
eight proposed roads. in eleven States and
one Territoryi Where will you begin,
and where endi If to enablethese COM
panies to execute their proposed works, it
is necessary that the aid Of the general
government be primarily given, the policy
will present problem so comprehensive in
its bearings, and SO important to our polit-
ical and social well being. as to claim, in
anticipation. the severest analysis. En-
tertaining these views, l recur with salts
faction to the experience and action of the
last session of Congress, as furnishing as
surance that the subject will not fail to
elicit a careful re-examinatiOn and rigid
scrutiny.
Il was my Intention to present on this
occasion, some suggestions regarding inter-
nal improvements by the general govern
ment, which want of time at tn, close of
the last session, prevented my submitting
on the return to the H'use of Represen-
taiives, with Objections, of the bill entitled
Gan act making appropriation for the repair,
preservation and completion of certain pub
lie works heretofore commenced under
authority OF laws" but the space in this
communication already occupied with other
matter Of immediate public exigency con.
strains me TO reserve that subject for spe.
ciaI message, which will be transmitted to
the two houses Of Congress at an early day.
The judicial establishment of the United
States requires modi6cation, and certain
reforms i'm the manner of conducting the