Bedford inquirer and chronicle. [volume] (Bedford, Pa.) 1854-1857, 1857-02-13
cone,pona-acs . Feanlrsr a,ld chronicle.
HARR,snrEu, Feb. 10, 1857.

HAHRssneEo, Feb. 10, 1857.
NR. ElaToR:--A most important bill
has recently been introduced into the Sem
! ate. bv Dir. Pcnrpse, of Philadelphia, for
the sale of What is oalled the Main Line of
the public works. 1t proposes 10 sell the
same to the Pennsylvania Railroad Compa-
/ ny for the sum OF nine millions of dollars.
/ The company is authorized to Increase It's
capital stick nine millions, and to issue GER
/ ti6cates fi,r the same amount in payment for
| the public works. The Stale agrees 10
appropriate ave millions Of these certificates
70 tie completion ef the Snnbury and Erie
Raiiraad. aEt also agrees 10 release the
s'eiinrA iyauia Railroad from the payment OF
tie lax oi, tonnage. TIC State would
tlteresefa not receive the nine millions in
money, out ia railroad stock, four Ioillions
III the stock of the Pennsylvania road, amt
FIVE millions IN the stock of the iSunbury
aud Erie. The stock of the Pennsylvania
or Central read pays respectable dividends
aud il is alleged that the stock of the other
road viii also pay well before long. This is
considered one Of the most important bills
of the session, involving as it GOES moi only
large pecuuiary Interests, bat grave ques-
lions of State policy. However desirable
it may be to ger rid of the main liue OF Stato
improvements, it may oe we'll questioned
whether the adoption Of the scheme Tropo-
sed by this bill would not be III rlie end bad
policy. In the first place, is 1t right to per
nit the Geuiral Railroad Go. 10 become the
purchasers, and thereby nlonopolisc the car
rying trace OF she State 5efween tie East
and the Wesy9 Even if this important ques-
ton te answered in tie affirmative, tLen is
it good policy 10 invest tue proceeds in 9TH
or public improvements! Tue past history
OF Pennsylvania does not seem TO warrant
any further connection with public improve
ments; and 1t is hoped cur legislators will
examine these questions carefully before
they embark en- any new schemes of expeu-
diture for either canals or railroads.
Legislation is progressing slowly, with a
promise that the session Will continue until /
the first OF May.
Nothing further done in the case of Dr.. /
Dewitt, the Librarian, since nay last letter
The Susquehasna river opened here on
Monday morning, and bas been full, and the
ice running pleiltifully ever since, up to
this, Tuesday, evening. Much damage has
been done to several of the piers of the new
Cumberland Valley Railroad Bridge, and
great fears are entertained that some of
them will be carried away altogether, un-
less the river falls or the ice ceases running
very soon. The cars have not ventured
over it for the last two days, and | presume
will not until it is repaired The high wa
tiers and ice detained travel both east and
west ou Monday, but all are now arriving
as usual, end no serious damage appears 10
have been done 10 either the bridges or the
road.
4 bill has been introduced into the House
proposing 20 establish what is called the
Free Banking System. [. has been report
cd upon fayorably by special committee,
but what lis fate may be caunot even guess.
| have not yet seen the bill, but believe it
authorizes every person, or corporation
formed for the purpnse, commence and
carry on banking who viii first deposit with
toe State sufficient securities for the re-
denption Of all notes which may be issued.
The same system is now in operation in New
York and other States, aud is reported to
work we'll Yours, truly,
SPECTATOR.