The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1856-04-22
For the Gao City.
For The Gaze City.
" eokUk and her Eastern Railroad
Project.
ICoNcLrDEp.

! ject, in order to make these remarks relative
TO the leading features Of the business tran
sactions OF the west, for the purpose of dis
abusing large proportion Of the public
mind of a very common idea, [yet quite as
/ erroneous that as the surplus Of western
produce goes to the city Of New York the
! best road must Of necessity be direct in its
/ line toward that city. This, in measure,
! is great mistake. It is only such as is
known and denomnated through trade that
reaches that destination. | presume that on
all our leading roads the local is TO the
through traffic as IL to L.
The introduction of railroads in the ives
tern States, was the commencement of
great revolution that has wrought such mir
aculous wonders in her rapid strides Of pro-
gress and in Improvements. The value and
Importance Of railroads AZ this day is known
and highly appreciated by the people q the
United States.
1t has been contended by many, that there
have been too many roads built in the western
States already for the present amount Of
/ business that it Will require years Of toll
and industry to deyclope the country, and
j large increase Of population in the sections
Of country through which they are built, to
enable them TO pay n remuneratiye dividend,
and meet the too sanguinc expectations Of
the stockholders, who are interested alone
IN the net earnings of the roads. Still, as
the question is settled that the transporta-
ton of the whole local as we'll as interior
trade of the great west, must for ali time
| pass over our railroads, il must follow with
the certainty that effect follows cause, that
the railroads Of tho western States, Jude
iously located and prudently constructed, be-
sides their beneficial influence upon the gen.
eral prosperity Of the States through which
they pass, their special and immediate ef-
tects upon the sections OF country through
which they run, must ultimately prove safe
and profitable investments Of capital to
those who rely solely upon dividends from
net earnings.
Connected with our railroads projects,
there appear some questions Of high impor .
lance TO those who are now engaged in build
inc, Or are interested in the construction Of our
new roads. These propose briefly to con-
slider. Win the times continue to improve !?
| VIII money become easy and plenty again {?
/ Can the right kind Of railroads hope to OBJ
tain foreign aid essential to their construc-
/ ton
For the entire period Of our existence, We
have been the victim Of enormous oxpan-
sions and contractions. For few years
previous to A. and '43, every railroad sohemc
was carried forward with the greatest posi-
bic rapidlty and apparent success. The f
naneos Of our banking institutions became
largely expanded, and the whole countr,
became deeply involved by doing too nucl
business. Finally Revision came upon us
cold tsater collapse followed, and gener
al crash closed tho game. We have had al
allotted time Of year or SO Of prostratioI
md inactivity in railroad construction, ans
| our eenyalcscence has been slow and yer,
gradual with an occasional relapse, TO ena
bic u 10 thoroughly cleanse and renoyat'
the whole system. Since our convaleseence
our progress has been marked with grca
caution and exceeding moderation, but vi
are now fully conscious of sound and yigor
Gus health The times must continue 10 i'm.
] prove. II II the natural result Of the causes
in operation. We have just passed long
period Of economy and industry. which has
4
al prosperity throughout the whole country.
and must produce desirable results. Wild
speculation has in great degree ceased
eur foreign lmportations have been greatly
reduced; visionary projects requiring ma
terlal aid are abandoned Of themselves. Tie
1 chat has been thoroughly winnowed from
the wheat. The sober common sense Of the
| people has prevailed. The country is now
7 there n time when money was 50 abundant
4 particularly with the producer. rs at the
1 present; il must circulate and work for its
owner; ii cannot be- permitted to lie idle on
deposit, Or in tile private chests Of its pos
SCISSORS, TO rust. Our present position is a
verF enrinble one Ee are not engaged in my
heavy or ruinous speculation, our banks
have no expanded system Of credits, our
trade is wholly legitimate, and conducted
upon sound and I'll dgested PRINCIPLES.
There are no eyidenc es Of extravaganza, nor
is there, on the other hand. want Of any
Of the necessaries of life. Every interest as
well as section is sound, and a ten years