Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1855-03-10
g 2 e e.

lin addition to this road to the west Massachusetts is
forming another connection and tunnelng through
the Hosac Mountain. Loan by the State 81, 900, 600
2In addition TO those large expenditures the
trade the State Of New York expended the cor
sructiou of the Erie Canal SO 100000 which by tax on
has paid for its construction, and being
SIN addition to the Central Railroad the Philadelphia and
Columbia Railroad has been constructed and by
the State of Pennsylvania.
Ain addition to this important railway Blue
Ridge Maryland has contributed largely construction
of the Chesapeake and Ohio Canal.
5Ths estimate does not embrace the divisions and
tunnel through the Blue Ridge which is exclusively
State work. nor the costly road the James River
and kanawha Canal which projected by General Wash
ington which has cost about Sl0,00o,0O0.
6The estimate of the South Carolina road only extends
to Augusta it does embrace the Blue through
the Rubun Gap to Knoxville which estimate ed to cost
near the same amount
As proof that these roads have not been con-
sdered improbable to the States that have embark
cd in them, most of these roads being found INSULT
Gent to transport the freight to the Atlantic and be-
ing laid with double tracks Cities have been built
up on the lines we'll on the Atlantic in proper
ton to the facilities furnished to the commerce of
the Mississippi valley And the competition so far
has not been with the railroads for freight; but with
freight to obtain outlets to the Atlantic and such it
must continue to be after all the projected roads
across the Allegheny mountains have been compile
ted and their capacities trebled by being furnished
with double tracts.
What commentary this furnishes to show the
absurdity of the doctrine that freight will seek its
natural outletsl The Great Mississippi valley has
but two natural outets-the Mississippi and the ST.
n
nels have been effected by the arts of man.
The doctrine advanced by some of the prominent
members of both Houses in opposition to the extern
sion of the railroad west- that if built so as to form
connection with the railroads and steam boats of
the Mississippi valley ght will come over it,
IS with due respect to their opinions fully as alb
surd the doctrine "that trade will seek it's natural
channels The statement of the earnings of all the
roads that have been built proves that the quantity
OF freight transported has corresponded with the
means furnished for transportation including the
baltimore and Ohio road, which in crossing the Blue
Ridge has maximum grade of 116 feet to the mile.
The value of stocks in that and all other roads in
part depends upon the Indebtedness of the company
and the condition of the money market but the in
trnsic value of railroad stocks as well as the value
OF all other species of property, permanently depends
either upon the income produced or the ability to
produce income.
The present capacities of the valley of the Misss-
slppi to furnish commerce which is rapidly on the
increase is sufficient guaranty of suffciency of
freight to support all the railways which will proba-
bly, be constructed to the Atlantic.
The Railroad Record, published in Cincinnati
furnishes valuable data by which to estimate the
amount of commerce west The Editor in number
f02, says: hat steamboat building commenced in
the west at Pittsburg in 1911, and up to 1917 not
more than half dozen steam boats were built since
that time it has continually increased" The num-
Der of steamboats, the western rivers and lakes
he estimates at 900, and their tonnage at 26O, 900
tons.
. We have "a steamboat commerce in the west ira
verslng sc, 900 miles of coast, and moving a COM
mcrce of 100000 This is the creation of only
forty years of industry and enterprise in the valley
Of the Mississippi what will another forty years
complish?
Railways have not diminished steamboats, on the
contrary they are help to them, there is certain
1unction for each to perform But it is argued that
North Carolina has not the to effect so great
an enterprise
1t has been shown that two millions of her bonds
payable in 80 years, bearing interest of 6 per
cent. is all that will be required for that object
And If any. doubts be entertained as to the sudi-
cheney Of the means set forth, pass the BILL provide
the transfer of So, 600 900 of railroad stocks let
600 600 be subscribed on the line from Duck Town
to Sat'sbury, which, if the charter proposed
can be raised in three months responsible controc