New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-01-05
FROM WASHING TON.
PACIFIC RAILROAD BUBBLE.

The world in general aud this country in partcu-
lar, have been rsroading most theoretically the.e
many years One scheme after another has been
started and pursued, each following one more vast
than the last, ill., in this country, we have finally
reached what may be fairly considered the master
enterprise Of oil in this line This IL the Pacific
Railroad.
Everybody says we need this railroad, and every
body says it can be and must be built. Ia our
judgment do need this road, and in our judgment
it Will not be built. The necessity for it is not
great enough TO take it through Build it on what
ever route you will the cost Of it, in good working
order will be between one hundred and f'ty aud
two hundred millions Of dollars. Aud all people
capable Of judging, who don't mean t. swindle
viii confess this fact In the next place, the money
it will cost will be 80 much capital sunk. And the
support Of the road will in addition to it, bus-
ness, demand an outlay of between ten and
twenty millions per snnum. Now, in the first
place. no res poDsibe combination can be formed
out Of existing corporations or individuals, which
will Undertake to build the road from the Mi:sissip
pi or the Gulf TO San Francisco, and to run it Of
teiward, for any sum that this Government will
contract to pay annually for the use of it. And it
would probably be found impractic ,ble to find
sufficiently responsible company TO do it uoder any
circumstances. The GOyeInmant itsalf lie probably
the only ogcncy capable Of building the road. This
it will not attempt because of the expensyeness Of
the undertaking, to say moth ne of constitutional
impediments. The latter would not stand 10 the
way, if IT was thought best to make the road. They
are 1oihDg against the demands Of Safe necessity.
They never were anything, and they never will be.
Texas aid Louisiana attest the truth of this state
meut conclusive enough. But operating in aid of
other objections, they will control the question.
The various schemes before Congress to con-
struct this gigantic work are bubbles None of
them contemplate the making of the road. They
are merely traps to catch Uncle Sam. The opc.
ratOrs want his land and want his money. They
will take either or both just as they can make out.
TIE plan of the whole of them Is slike. 1t to run
a road or roads tou0rd the Pacific and stop them
just at that point where the operators think it won't
pay to 90 any further. No responsible parties pro-
pose to run road through to the Pacific, and none
will Neither is the idea of the bona fde construc-
ton of such road the basis Of any of the schemes
They are all simply projects to put money in the
hands of the operators.
Are we then, to have no serious plan or design
Of running railroad to the Pacific None at all
among men Of sense. 1t is project that won't
psy nor begin to ply, either to individuals or as
sOciatiOns, or to tie Government Itself. There Is
no nt cessty for it but the necessity state OF war
with some fir t-rate Power would create. Then We
should really need the road but is serious ques-
titn, If we knew such a necessity would arise as
.oon as the road could be built whether even then
it ould be worth while to construct 1t. la fact,
we scBpOwt dge the need of the road both in peace
and war; bar be necessity for it is NOT great enough
to Justify the expenditure it would involve.
Let, then, the managers of these Pacific Railroad
plaLs drop their uDmeanng titles Let them as
sume some name that will designate thcr real pur-
poses. Let them call theirb antlng Acts to hunbug
Congress, Acts to swinde Uncle Sam, Acts TO con-
struot Railroads torard the Rocky Mo1ntains, or
any thing else that declares their real obecs But
let them cease TO pretend there is any serious de-
sign to carry road to the Pacific during the he
time of the present generation.
A Railroad to the Pacific is to be the work OF
tine, and its accomplishment ia distant. 1t must
await the progress of settlement on our Western
front er, and proceed por passH, with the aivanc'
ng stream of population, as it flows toward the
base of the great Appalachian chain that biseci' the
Continent. Time, too must be given for the Pacific
slopes to gil up. And then, when these conditions
of its construction are fulfilled there will still be
il TT vast mountain ridges to scale and wide, track
less desert. to cross, where population eau never
dwell the difficulties of which will require even
then the vigorous energies Of q powerful Govern
ment TO surmOunt J.. p.
From Our Own Correspondent
WASHINGTON, Jan. 3, 1851.