The Nevada journal., 1855-01-05
Pacific Railroad.

ways. we're less iuil and explicit than the mag
nltude OF the subject and subse quent develop
aen's would seem to render proper and des
raoIe Ut the soundness of the principle then
asserted with regard to the Limitation Of the
power OF Congress. entertain no donbt bnt
N It's application it is not enough that the
value OF lands in particular locality NAV be
enhanced that, in fact, a larger anonnt OF
money will probably be received, in a riven
time !or alternate sections, than could have
been realized for all the sections, without the
impulse and influence of the proposed improve
ments. a prudent proprietor looks beyond
hnItateG sections of his domain, beyond pre
sent results, to the ultimate effect which a par.
ticriar line Of policy is likely to produce upon
al his pcs2essions and interests. The Govern
mont, which IS trusted, 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. up-
wards q thirty millions of acres of land were
"ithdra Tn from public sale with view to
applications for grants Of this character pend,
ing before Congress. A careful review Of the
#hoe subject led me to direct that all such or
aers De abrogated, and the land restored to
marAet and instructions were Immediately
given to that effect. The applications at the
last session contemplated the construction of
more toaa i've thousand miles Of road and
gIah's 10 me amount of nearly twenty millions
! ot acres OF the public domain. Even admit
ing he right on the part Of Congress to be
unquestonable, is it quite clear that the pro-
posed grants would be productive of good. and
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 it is proposed to put the
works speedily in process of construction.
When we reflect, that since the commence
ment OF the construction of railways in the Uni
ted States, stimulated as they have been by the
large dividends realized from the earlier works
over the great thoroughfares, and between tie
most important points of commerce and popu-
.atlon, encouraged BY State legislation, and
pressed forward By the amazing energy Of pri-
! Tate enterprise, only seventeen thousand miles
hovs been completed in all the States in q
quarter OF century when we see the Grip.
| pied condition of many works commenced and
prosecuted upon what were deemed to be
sound principles, and safe calculation when
We contemplate the enormous absorption Of
capital withdrawn from the ordinary channels
of business, the eXtravagant rates of interest at
this moment paid to continue operations the
bankruptcies not merely in money but in char
acter, and the inevitable effect upon finances
generally can it be doubted that the ten
dency is to run to excess in this matter' Is it
wise to augment this excess by encouraging
hope Of sudden wealth expected to flow from
magnificent schemes dependent upon the ac-
ton of Congress? Does the spirit which has
produced such results, need to be stimulated or
checked? Is it not the better rule to leave all
these works to private enterprise, regulated.
and. when expedient, aided by the cooperation
of States If constructed by private capital
the stimulant and the check go together and
| furnish salutary restraint against specula-
tive schemes and extravaganza. 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 q proposition
contemplating simultaneous 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 cannot cost with
equipments, less than one hundred and fifty
millions of dollars. The dangers like to re-
suit from combinations of interest in this char
acter. can hardly be over estimated. But, in
dependently of these considerations, where is
the accurate knowledge, the comprehensive in
telligence, which shall discriminate between
the relative claims of these twenty-eight pro-
posed roads, in eleven States and one territory?
Where will you begin, and where end II If to
enable these companies to execute their pro-
- ,sed <orks, it is necessary that the aid of the
t,enoro, porernment be primarily given, the
ool;nr vii; ,re -ent o problem 50 comprehen-
s;ve n ia baaor;;-es, and so important to our
nolitical and socia, ana well being, as to claim
in anticipation, the seTerest analysis. rhter-
tanning these views, recuI r.to sa'isIaciion
to the experience and actio1 G: Inc iaSt
session of Congress, as furnishing assurance !,
tat the subject will not fail to elicit Care"
re-examination and rigid scrutiny,
Thus discourses President Pierce upon
the subject of the Pacific Railroad He ex-
plains away even the faint encouragement
given to the project in his last annual
messagc,in which he held that the govern
ment should grant lands on the same prin-
ciple as private proprietor, by saying
the proprietor should not look to the in
creased value Of alternate sections, and of
course should never grant any to work
that must bring higher value to public
land reserved by the government, over the
amount the whole lands would produce
without the enterprise in question. In
fact, Mr.. Pierce ayows himself utterly
opposed to the Pacific Railroad. In his
last message he distinctly took the ground
that no such road was needed "for the
common Defence" but left the small loop
hole for doubt as to the exercise of his We
70, that the present message entirely stops
Up.
We reviewed this matter year ago, in
reference to the ground then tshen and
held that the premises of Pierce were in
correct--that the Pacific railroad is impc-