Daily Nashville patriot. [volume] (Nashville, Tenn.) 1857-1858, 1857-05-22

excluding those granted for educational pur-
poses and for military services, we have the
following exhibit:
To Ohio, 1O,0S1,1 III
" Illinois, 5,034, 1866
Michigan l3,925,324
Iowa 8,700,007
We take these four as having received the
greatest amount of the land bounty, and with
which the other States. if justice is to be done,
are to be made equal. To propOrtionalize these
and deduce the amount that Tennessee shall
be entitled to, we have but to refer to the po-
pular representation in Congress. Ohio has
! q Representatives-Ii Illinois 9-Michigan A.
and Iowa 2. Iowa, has received the greatest
proportional amount, and we estimate the
quota of TeEnessee's distributive share, at the
same rate, and we find it to be, with her 10
Representatives, (43,5OO,030. Forty three
millions, .JjUe hundred thousand and htrty.1Oe
acres! If we put this land at one dollar and a
quarter per acre the highest minimum govern
ment price, Tennessee would be entitled, in
money, to .tttyJour millions, three hundred
and seventy ;ti0e thousand and .torty-three dol
lars If we put it at an average between the
highest and lowest minimum, say seventy-fve
cents, we are then entitled to receive hirty-tooo
millions, siz hundred and taoenty.tfoe thousand
tDenty three dollars.
This, indeed, would be brt partial justice.
For those States that have received those i'm
mense grants of lands, have reaped the addi-
tional advantage of applying those lands in
such way as to give them, the fullest benefit,
in the increase of population, in the enhanced
value of the lands Of individuals, obtained by
purchase from the government, and swelling
the aggregate bulk of individual aud State
wealth, to enormous sums. Take for example
Illinois, that State which has received the
smallest quantity of land in kind, of either of
the four we have mentioned. OF the 5,QS4,-
366 acres granted to her, 2, 100000 were do
mated for the construction of the "lllinos Cen
trail Railroad."-It was granted upon the al
ternate section principle, as is usual. The
State gave it up to the Company having that
work in charge. With this magnificent fund
the company has completed the road, 7O7 miles
in length, Gncluding its two forks) with bal
ance 10 their hands, according to their last an
nual Report, of 1923, 900 acres, worth, by es-
innate at that time, $23 1886, 900. 1t is enhano
ing every day in value, and its future worth
it is impossible to compute. With this they
have been able to pay off all the bonds previ-
ously issued by the Company and to refund
the calls upon the ockholders-leaving the
entire stock of the road free to the Stockhold-
ers, and a net surplus of $s,000,o00. But this
is not all. The impetus which it has given to
trade and travel in the region through which
it passes, has increased the regular business re-
ceipts of the road, to an estimated dividend of
8 per cent. The earnings, for the year prev-
GUS to the last Report, run up from 81 ,532, 900
to 81, 476, 900; and the stock is now selling at
$lS6 to $40 for 500 given to the original
holder. This is what has been done for Hi
nois, while our home railroad bonds are hawk
ed upon the New York stock exchange, and
treated with even derision and contempt; aud
tie State bonds of Tennessee themselves are
going at from 81 to "a cents in the dollar.
What think our people of this disparity
We are paying our taxes, dollar for dollar, and
many of Us are run TO the girthto do It; butin
order TO facilitate our internal improvement
enterprises, we are striking of our bonds at the
rate of from three TO four millions per annum,
sending them on to the money changers of the
East, and getting in return from 81 to o. or 80
dollars 10 the hundred, according TO the dates
of payment-thus submitting TO a shave of
from TO Is dollars in every hundred which
we expeud or lend out to our citizens,
TO develop the resources of our State. To
avoid these sacrifices, we have adopted the
free-banking policy, whereby our citizens are
sought 10 be made the benefciaries. But this
has failed Of its purpose. To secure The people,
the banker must deposit bonds according TO
their value in the New York Boards, aud TO
do business Of $4,000, they are required
TO deposit one hundred thousand. We are
thus placed in the hands Of capitalists who
have no Interests in common with US, and who
are the arbitrary jadscs Of our credit and SOL
seney. Our State liabilities are every day in /
ereasingi our taxes are increasing, and as a |
necessary consequences, our credit viii be cor
respondingly depressed.
Its impossible to say when these things
win be stopped. 1.-THE present course Of policy
j. 70 be pursued, aud the Northwestern States
are 10 be thsperpetasl subjects Of the public
Doonsy, 70 the utter neglect OF the old States.
'ar condition must grow continually worse.
i was with fall appreciation Of these start
ing faels, that :he American Stats Conyen-
ion passed the following resolutions
Resoirsd, That Al The States Of she Uulos Ar.
ntitieo 70 piFieipAtsoa 10 tie public bouuty; aod
hat the poise5 q tas party 10 power by shich sAs
lubhc lanes are appropriated, 10 large ouanssl~s
q the a. nsat 81 psrteelar States, i usisst e.
qua and Injurious % lAs old ss.tas. aad eashtns,
} Be tolcrated