Bellevue gazette. [volume] (Bellevue City, N.T. [i.e. Neb.]) 1856-1858, 1857-12-17

c~essiues Of trade, with the force Of math.
ematical truth applied to experimental
practice.
Private enterprise cannot be relied upon
TO undertake SO stupendous a project. I'M
der the social and business system of this
country, there is no monopoly. Individu-
ais. with or without money, credit or posi-
ton, may project railroads and other in
ternal improvements, barter in shares and
at last abandon their schemes to their own
advantage and the ruin of others. The
fluctuations and uncertainties of private
speculations will not be seriously enter
tanned in the action of the General Gov
eminent upon a matter Of such admitted
military necessity and national import
ance. Provisions for a railroad to the
Pacific, along the route above mentioned
should be urgently sought from Congress
at its present session, before The most valu-
able land shall have been secureed by
spectators or settlers.
We may congratulate each other how
ever, on the actual of a
work of approximate and preliminary i'm.
portance. The arrangements for the
completion of the second Division Of the
Atlantic and the Pacific Telegraph-from
the Missouri River to the Pacific, have
been perfected under the direction of Mes
srs. Henry D. Rely, John j. Speed and
other eminent contractors and practical
telegrnphers. While the public pulse has
been so quickened by the hope of an Oce-
anic communication between the old and
new worlds, comparatively little has been
said in respect to a line of more direct
benefit to our OWL country-to be built
without either money or favor from the
Government-and requiring only such
protection as the interests of the country
demand for the security of Emigrants.
The proprietors solicit only a proper dis.
tribuuon of Government Troops, in garri-
sons separated by a reasonable distance
aud having a certain and daily commune
cation by means of attachments. BY
troops thus apportioned, the letter mails
could be regularly transmitted, travellers
protected, railroad projects advanced, the
country colonized and the telegraph line
completed IN a short space of time, with
out addition expense TO the General Gov
eminent. The citizens of the West can
not regard with indifference so public spir-
tied an effort and in which the only en-
couragements asked is that protection of
intercourse which should long since have
been conceded, in justice to western In.
terests.
A memorial should also be forwarded,
praying for an appropriation for u militia.
ry bridge across the Platte River. Every
good citizen ardenlly desires that III fruit.
less sectional alienation heretofore exist.
ing between the Two sections of the terri.
tory should cease forever, and will heart
ly approve the endeavors of your honora-
bic body to contribute to such a result
The importance of the earliest transmits
sion Of these memorials to Congress should
elicit immediate action.
To the country at large the past ha:
been truly al evenlful year. A disas-
trous monetary revulslon-delayed for u
time by the great supplies of gold from
Western discoveries-has befallen us al
last-prostrating Notwithstanding con.
fdence-ruining individual and associated
capitalists-disclosing monstrous frauds,
and bringing distress, penury and beggary
to the doors of tens of thousands of the
industrious classes, all over the Union.
In the public prints are long lists of brok.
en- or suspended banks. The immense
influx of coin has only stimulated to an in.
creased manufacture of paper promises.
1t is estimated that about Two thirds of the
currency of the country is Debt.-The cri-
sis was inevitable, aud it remains only 10
profit by its severe and emphatic warn.
lngs.
1t may be urged that specie is again re-
turning 10 its former channels, and that
public trust wall soon revive. Yet what
an amount of coin will repair the injury
already wrought or afford a basis If Sc
curity against human a~varice, stimulated
10 extravagant speculation, and unscrupu-
lous excuses, by the facilities afforded by
an insecure Banking System. The HIS.
tory of profitable" banking is inevitably
the history of alternate depression, over
action and ruinous expansion. May we
not hope thatshe events of the year will
lead to a general reform, and to the re-
s%triction of paper 10 the use of CONNER
ciai men? Believing, as | do, that the
whole system Of Banking is insecure
even when based on State Stocks and Sc
curities-where n promise to pay is
made the basis of another--both, perhaps,
equally falacious-snd being especially
convinced that the institution of banks in
this Territory was impolitic, and that there
are imperfections in the Charters-E re-
specially urge that some adequate means
be taken 10 remedy the evil, and protect
our citizens in future. Many persons who
have realized from such systems, advan-
tage to themselves, may have heretofore