The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1856-04-22

any other event that | can think of. Peace
Is certainly very desirable in a personal rs
well as social point Of view, but so far us
our great public interests are involved, the
continuance Of the war would unquestiona-
bly, result more to our advantage. Peace
will, in all probability, follow the present
negotiations Money in large amounts will
flow into this country for investment, where
interest can be obtained Mt much higher
per centage than in any portion of Europe.
As the country becomes developed, and IA
cilitic- for the interchange and transit Of
commodities are increased, the business of our
roads will improve, and investments in stocks
and bonds will become more certain in the
same ratio and will be looked upon as safe
and profitable investments. Our Railroad
Companies can command, if they will but
take the proper steps to render their securities
unqucstionably sure, an abundance Of CAPT
tai from Europe, sufficient to meet all their
legitimate wants. They must consider and
adopt a. fundamental principle, that the
paying Of the interest on their securities at
maturity must he sacred obligation, and
that no triaing or temporary embarrassment
shall deter them from fulfilling. This course
has in very great proportion Of cases been
the governing influence of action Of our rail
road men. They have paid the interest on
their securities during the most stringent
monetary times, with great punctuality, and
they have received the highest commenda-
tions of the holders and of the public. A
continuance Of this good faith few years
longer, must establish the character of such
securities, and they will pass like bills of ex-
change between holders, will be sought after
ment, and the amount Of foreign capital at
traoted 70 TINS country, not only by our high
rate Of interest, but by the high character
of cur securities, will be enormous. At
time like this when the public mind, e.
peciully the Eastern capitalists, who claim the
high pr7rogatiye of giving tone and character
to their neighbors Of the west, and to their
railroad projects, are just recovering from
sSd6oIi 81 0ouot anu uiStIust. WIZ With long
iac eagerness are now directing their atten-
tion to our nnexampled success and prosper
its IN railroadng yet are determined to guard
themselves by their sagacious wisdom, ana
strongly intimate their fears in the possibil-
ity Of the danger of OVERRIDING railroad
building in The West-it may not be consid-
cred inopportune, if we make a small ex-
animation and see how that matter stands
with us compared with some Of the Eastern
States.
The states Of Massachusetts, Connecticut,
New York, anu Pennsylvania have one mile
Of railroad TO every II square miles Of ter
rtory, and they have expended in the con-
construction Of their railroads S4,5GU to
each mile Of area. While the States Of In
diana. Illinois and Iowa have 80 square miles
81 territory % each mile Of railroad, at an
expenditure Of only S6G4 to each mile Of
area. The cost Of construction of railroads
in the above named Eastern States has been
from $4,000 to $4,000 per mile, while
those of tie Western States have been only
So, 900 70 SO 900 per mile. If we continue
this comparison to the question Of ability Of
the different sections affording local traffic
for their respective roads, we will find the
disparity much greater. While we find the
whole Of the western states (Which | have
na,ned) capable Of the highest state Of cult-
yation, we find very large portion of the
- 4 Il
to afford any local freight other than that Of
manufactured articles. 1t is certainly very
obvious. therefore, that il railroad building
il oyerdone III any portion of the United States
thus chargeable with this unwarrantable ex :
pansion Some Of our schemes NAV have
| been premature, or not have come up TO the
sanguine expectations of their projectors, but
such mistakes arise from want of well d.
gested plans and deficiency in good iudg-
lnent. II Il can be shown that we need q
| larger extent Of railroads to meet the wants
Of the people and the just demands Of com
that the many thousand miles already in on
Grafton IN the West are proper works to meet
these wants, and to say that we have already
too many railroads, would be as ridiculous
and improper charge Us it would be to
make q similar charge against ship building
when the supply. of vessels were not equal
70 the demand -.
Cor. FRFNoNr.-There seems to be gen
eral, but not At all preconcerted movement,
in favor Of Col. j. G. Fremont for the next
Presidency, in the northern and eastern
States.
This movement is not at all acceptable TO
The mira anti-slavery men of the free States,
and We should not be at all surprised to see
I. a. L.