Glasgow weekly times. (Glasgow, Mo.) 1848-1861, 1855-07-12

the question is being discussed through lhe
medium of the press.
We have projected, and in course of con.
struotion, the following Roads, TO which the
State has loaned her credit in the sums APP
pended:
Miles Subscription.
Pacific Railroad. 600. .....55l S1,00O.OOO
st. Louis II Iron Mountain. ..Si 100000
North Missouri, ..... .....229 2,OOO,OOOl
Hannibal st. Joseph, '.... '2O7 l,oOo,OOO
Totals...... .....1.o7O $4,000 600
The whole amount of the credit of the
State loaned, together with the sub
scription of private individuals and corpo-
rations, is not sufficient TO complete the
roads. More money is wanted, which The
companies must raise by selling their
bonds; but the Lien of the State will pre-
vent capitalists from buying these bonds,
and hence proposition was introduced into
the Legislature to remove the Lien of the
State. A correspondent Of the ST. Joseph
Cycle, in article on this subject, introduces
the proposition or bill, and remarks:
at may be assumed as fixed fact that
the bill 10 which have reference, will be
pressed with great energy 10 its final pas
SGge by the November session, and unless
checked by the timely interposition of the
people, will, in all probability, become a
law. Since the adjournment Of the Legis-
lature two of the railroad companies, the Pa
cihc and North Missouri, have in their an
nual reports to the stockholders, urged the
necessity and propriety Of passing the bill;
the Iron Mountain company is understood
to be in favor of the bill. As to the Han
nibal and st. Joseph read company, there is
project. Col. Sewart, the able President of
the company, opposed the bill in the SEN
ate. Several prominent members of the
General Assembly have taken the stump in
favor of the release of the lier.
! Il mention these matters TO show that if
] it be desirable on the part of the people ia
defeat this bill that some effort will be re-
quired to meet tie powerful combination III
its favor.
"The railroad companies are governed
wholly by men Of ther own selection, the
State having no voice in the choice of Di-
rectors. Over nine millions of dollars OF
the State credit has been loaned to these
! individuals. besides munificcnt donation
of lands TO two Of them, TO enable them &c
build roads for themselves, TO own, manage
and control, and reap the profits thereof
but these corporations, it appears, arc not
satisfied with this liberaity Of the State, but
desire the removal of the States lien, SC
that having got the lands for nothing, the,
may also, by sharp turn, get the Stat,
bonds in the same way. No measure LA,
ever, in my Judgment, been presented TO the
General Assembly, fraught with more in.
misunderstanding iniustice-than the one re-
ierrcd to; but notwithstanding this is appar.
emf TO all, vet we shall sec plenty of able ant
willing advocates, we will be told as We
have been told. that unless this lien, is re-
moved, no railroad in the State will ever be
completed; in a word that the whole i'm
provcment system will 90 overheard, anc
that then farewell to railroads. A little in
vcstieation will however prove that these
arguments have been got up for the occasion
and are not founded in fact. If we look n
the condition of some OF these railroads. va
can readily see that they, with their prcser
endowment, and under existing laws, cil
and must be completed. Take for cxampl,
the Hannibal oui 81. Joseph road, cstina
ted 10 cost six millions of dollars. with Stat,
bonds loaned to the company, amounting {,
ono million FIVE hundred thousand dollars
and lands worth over four millions of dol
lars, leaving only five hundred thousan,
dollars 10 be furnished by the company
everybody can at once SEE that the worl
will be constructed; such opportunities 60
fair and honorable speculation don't go beg
ginqthese days.
"Thc Pacific road company has alread,
expended about SIN millions of dollars, an,
will probably in short time have the roa,
in running orderto Jefferson CITY. distance
Of one hundred and twenty five mics. Thu
State has expended three million of dollar
on this road. Is It to be supposed that th
work is to be permitted TO stop at Jefferson
Civ. after having passed the mountains an,
hills between that point and St. Louis? i