New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-02-04
FROM FISHING TON.
THE PACIFIC RAILROAD.
r.. A. = Trf,rre

WASHINGTON, Jan. il, 1857.
A parting word on the Pacific Railroad. only
combat Il On the ground Of its being an enormously
>.,,s,s:ye ebterp1ise. which VII not bear its own
,,t;Ob. after sN The capital it costs is charged on
10 profit and loss-in other words, sunk and for-
ever lost The question is always argued as though
railroads generally were going to be ultimately
found 10 prove paying investments. THIS lac: Is
far from being proved. On the contrary oar
American experience is running quite IN the oPpo'
site objection. The railroad system ls YET new
and uptted system. and the question Of It's profi-
able,ess n poyi9g Investment IN nssJ' Is yet 10
q determined If u were not for the roads over
fLc Drsirirs no table Of our experience IN ran
reading could be formed that would cXhlolt ah!
lind Of show TO prove that the making OF rail-
rosds IL a rrmunerative work in itself. An ex-
bib;,ion OF the market value Of the principal rail-
yoads Of Ncw.EDgland at the present time, in
compatison with their market value ten years ago,
eiU show a depreciation Of near fifty per cent.
And taking all the railroads east Of The Alrghdny
MouDtaius it will b. found, j am quite sure, thai
tley are not to-day worth fifty per cent OF thcr
cost and tie general movement Of their value Is
still toward further decline.
Now. without going into special calculations
Uitb figures, which every man eau make to SUIT
timselC and which can be made to bring about any
yesult that will best please himself Is 1t not fair 70
infer if our railroads situated IN the heart OF our
nonuIstion are not worth half what they cost as
money Investments aud are still declining IN value
thst a rOsd Of the enormous length OF the Paclhc
road made beyOLd the boundaries OF population,
sponnne vast deserts and crossing lofty ranges OF
yIjnbhbitsble mountains, will not be worth any
thing at all This j. simple proposition that a.
most a ybOdy is competent 10 ans yer. How Is II,
then when We look little further, and are led from
careful reflection to doubt whether the railroad
s, stem anywhere, except in champaign countries
aid The most densely pcopled districts, Is gong TO
prove 81 utter failure, as money making e0glue
But ne have no need to go so far as this to reach
definite cor clusiOn regards the Pacific rOad.
We have no occasion to draw an inference from
ANYTHING but toe palpablo facts TO which have
alluded.
II il therefore no blind conclusion, jumped at
without data, that Pacific railroad will not pay,
as was the case with the predictions against the
Erie Canal. The success of that enterprise was
problem which experience was needed to solve.
To compare judgment against that, made up IN
utter ignorance with one of II railroad enterprise
IN our dsy ordered under all the lights which an
extensive railroad experience has furnished Is to
compare things totally unlike. The Erie Canal is
4 great ard wonderful work. IL will bear along
very great burdens. But it cannot be made by any
possibility an agency to float the Pacific Road, not
even through the means of 80 ingenious a1d original
a comparison as has been instituted by the Editor of
TIE tribune.
But. without g0irs into further canvass of the
probabilities or possibilities touching the profitable
ness Of the enterprise 10 question there Is way
of bringing the whole sublect down to the direct
tests Of wise aud responsible judgments. Let the
Goyetnmcnt agree 10 gre the alternate sections OF
sud on both sides Of the road to just ms great an
extent al may DO deemed proper, and no mar
L., .hc1 Ill thrnn oh
is whole length, aud pay in addition FIRE millions
Der nunuIn for transportation of the mails, troops
munitions of war. nrd whatever else 1t may deslre
to transport to whomscever will agree ~ construct
and run the road That is, to whomsoeyee Is re-
spoDSible whether corporations or iadlyldudls.
Such an offer would at once test the question:
among practical men as to the prdcticabllity oi
bHiidng tho road al reasonable cost. lhere Is
but little doubt that Congress would make the Otter,
provided there was any prospect tina. such con-
tract would he taken and fairly executed
But Il must be- understood that the makers Of the
road shall be sn,i.fed with alternate sections Of land
and that they are not going to have the rh0ie by
the ingenious contryauce of doubling On their track
hen the, come TO land that won't survey n. good
quality. This is a notable device Of the schemers
now before Congress with their Pacific Railroad
bills 10 take the entire territory, thirty or forty
miles in width, through which their proposed road
is 10 run. sud all the rest Of the unappropriatcd
domsin to boot. And let it be fully understood aud
sgrced also that the road is to be run through and
oct stop al the first sand plain big gully or ugly
hill.
Ii suybody wants to construct the Pacific Rail
road on some such basis az this, doubtless he or
they can be accommodated. But neither the com
panes individuals are in existence that would
icok at any such proposition. Yet they ought to be-
snd should show themselves, ii the calculations OF
the editor Of THE TRIBUNE are near the mark
But knowing that gentlemans sarcastic tendencies,
wish to say here that am not empowered by the
GoyernmeLt to make the proposition in question,
and do not hold 10y self personally responsible for
the offer but give Judgment. JsP