The true Democrat., 1856-04-15

Stess, "HeH puollC Op plllOu Will cOuCeHtldtc uEol it, as constituting the main trunk road of the State of Arkansas.
 Those here, whose position and intelligence afford the best means of arriving at a correct conclusion upon the question, as to the best mode of periecting reliable plan, to insure the construction of the Cairo and Fulton road, are of the opinion that Arkansas and Missouri might we'll afford to turn over all their lands to responsible capitalists, who would build the road In this cheerfully concur if we can do no better; believing that without this road, Ar kansas and that portion of Missouri through which 1t passes, will never be settled and inn proved, in the ratio that other States ale or, in other words we shall remain stationary, if not retrograde, as compared with other States who have such facilities for advancement.
 We state facts that are indsputable and al- though our progress may have been slow, we have taken no step back wards. We might ere this have made commencement of the work and perhaps created alittle ephemeral notoriety purchased few refuse iron rails, that were not worth the cost of transportation to gatfy few vslonarles-but we would have broken-down in our pecuniary endorsements, if not dis graced the company for the lack of good ludg- ment, with heavy floating debt upon our shoulders, leaving the company at the mercy of Its creditors. If we cannot start IT ght upon some plan approximating these suggestions, we had better never begin. In this you will doubt
 less concur Upon looking into the matter in all It's bearngs-it is gratifying to know that yourself and friends are disposed to cooperate With Us, II, as you say, you approve our plans and do not take an interest in the Pacific road
 As 1t regards the Memphis ona Little Rock 'a1lroad company" and their plans, think you are mlSniormed Still l hope you will excuse me from the labor of attemptingt to set you right
 Tn thiS letter, having been heretofore reluctant " compelled to say more upon the subject than was agreeable to me, in order to protect impor- tant interests with which my name had become assoclaed. 1 may, however, be allowed to make this passing remark for your reflecton- Its leaders are composed, as know, mostly of nonresident, ltlnerant contractors and specua- tors, whose statements heretofore made are un : worthy of credit, nor have they any interest or sympathies in common with ours. Their office IS at Memphis, Tennessee where all its affairs are managed.
 We freely admit all you say of the Illinois Central road, and their lands At present it has the advantage oI us in geographical and commercial position, but 1t will not be so when our road is completed By all extension of that road into, and through the rich fertile States of Missouri, Arkansas, Texas and Louisiana, e1n bracing upwards of 3OO,OO0 square miles of ter rltory, large share of its business must neces- sarily fall upon this road 1 think you under rate North Arkansas, and the value of ourroal From this, north 1t is stronger to-day than the southern division; the lands arc equally fertile and valuable, if not more 50 in the aggregate, and with the immense grant from the counties ln southeast Missouri, that division from this to Cairo is safe Missouri has not only turned over the government grant to the company without single State restriction, but authorized the issue of her State bonds 10 the companv and the investment of large bodies of her lands in the road. Her action has been above all praise, she has grantel all the company asked. year ago the prospects were more favorable to the southern Nivlson. HOW the reverse Is the fact The southern people, however, will not be be- hlnd, when the proper time arrives for bold and ethclent acton. You need entertain 10 fears that Memphis will control the southren division of our road, and thereby, as you seem t. apprc- hend, prevent the construction of the road from this to Cairo. We are beyond their reach, their efforts in that direction will prove powerless.
 Ton may remember when the land grant for the lllino, road was made n 1850, Illinois was u debt some S11,OOOOOO, without any available means to pay 1t, without re sorting to taxation
 tier present tlouriaAug condition s too we'll known to need any remarks from me upon that subject ArIausas owes less than S4DQO0O with assets specially applicable to it's extiu~ guisIlment, that will be made available for that object by the time her bonds fall uc sufficient to liqui,Iate both principal and interest without taxing our people. True the loud0n Times trl-, .,n ! |
 This is not 50, she never has repujiatrJ her debts and never will.
 In 1853, the Atlantic and Pacific railroad company was organized in the city of New ! orN, under a charter granteI by that State In July of that year, the ncorporatorS were select ed from various portions of the Union Mr. ChatheId, of that State, was elected resident of the company. Himself and others soon thereafter wentto TeXas tO explore the country, and maie preliminary arrangements, pro'esseI- ly to build the Southern Pacific railroad. They set about negotiating Jo m0nopolize all the rail- road charters in Texas, which they supposed would iu other hands conflict with their plans They succeeded in contracting for the " lfeut pljs 0nd El Paso ona Pac;fc raiboot,'' charter authorizing the building of a railroad from the upper Red river valley, (Fulton) to Fl PaSo, to which there was granted 16 sections or 1O,24O acres of land to each mile of road for 5000 paid stock in the Atlantic and Pacific company This franchise is believed to be more valuable than the 20 section charter; but from the fact that no railroads were built up to it, from the network of roads in operation in other States 1t would have been unwise to have attempted to comply with it's provisions; however, the time limited for commencing work may be extended by subsequent legislation, and hereafter become a desirable extension of the Cairo and Fulton road, through the rich counties in northern Texas, In the direction of Fl Paso This IS the route so tavorably reported by Capt, Pope, of the United States government surveys. They also become possessed of the Ieras HIeste1n rajload' charter, enacted on the 18th February, 1852; in aid of which Texas granted the right of way through her public lands. and eight sec tions, or 5, l2Q acres of land and no more, to each mile of road completed and ready for use, the work to be commenced within five years from the passage of the act; and on failure to complete 20 miles within years from the date of the act, the franchise becomes fOrfeited.- This IS no doubt the true Interpretation of the act; although ln previous section, 1t is proU5d ed that no land shall be donated, unless the company commence the road in years, and complete ten miles within 10 years. It is fair to presume that the latter controls the former the lands are available to the company as fast as miles or more of the road is completed, ready for use, and so certified by the proper authority.
 On the 2lst December, 1853, Texas incorpo- rated the Mississippi and Pacifc roiAoad co,n- pany," authorizing the building of a railroad from the eastern boundary line of that State, not north of Fulton in Arkansas to Fl Paso, on the Rio Grande, to cross the Trinity, Brazos and Colorado rivers, on or near 32 deg. of north latiaude. In aid of which 20 sections, or l2,- 800 acres of land is granted to each mile of road, 50 miles to be finished and put in running operation within IS months after entering into contract with the Governor of said State, and 1OOmiles each year thereafter until the whole road is completed, requiring a deposit in the State treasury of $3OO,OOO, to be forfeited to the State, on failure to build the first 50 miles within the time stated. This deposit the At lantic and Pacific company attempted to make, but Gov. Pease refused the securities rendered.