The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1857-05-14
The Dsspsssssss asA Masags.ss., 81 The
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hstissa Csss.
70 ih- aai~a. q Dc rbsssr sai D-aass.
Win you allow the use Of your column,
70 ooe who hes had some experience in Rail
way affair. for thu purpose Of ofring few
Suggestions In rETsncs to the disposition
and management u the magnfcn, dcna.
ton by Congress, Of lands for III. construc-
ton Of Railroads within your Territory
In the first place, take il fot granted
that the lands will 20 to the parties who will
furnish the money TO build the road., and
who will endeavor to realize from them the
cost o. the roads. after the manner of the
Illinois Central and Dubuque and Pacific.
These companies issued Bonds nearly equal
to the supposed cost Of their respective lines.
They also issued Seyip, or options for stock to
an equal amount, the great part of which,
went 10 the takers Of the Bomb. bonu,.
or prospective profits thereon.
suppose your companies will copy the
presidents recited. But in doing 80, they
owe II duty to the people Of the territory
To correct the mstakss that were committed
many Of which were Of grave character.
and to 10 manage their grant that they shall
produce the greatest amount Of good and the
least amount Of harm, by reducing within
the narrowst limits possible. the cost Of
their roads, and by necessary consequence
the Dsice asked for their lands.
A great deal Of exultation has be..n Tel, and
expressed In view Of the magnificent grants
that have been obtained But il must b.
borne In mind that the profit resulting ,hsre
from, independent OF the incidental advanta
gen which Railroads confer. will 90 into tn.
hands OF the parties who are to furnish tn,
money, the greater part Of which must com,
from parties residing oufs,ds the Territory
For instance--the Illinois Central grant. ne
cessarily went 10 New York and London
the great centres Of capital. The parties oh
tanning il, IA u matter Of course, 50 gradua
ted the price OF their lands, Us 10 reimbur.
their outlay. and have already sold larry,
quantities at rates that viii prciuc nearl,
Sl2 per acre, or morr than $50 900 900 il
the whole, As the company own the lands
~ well ~ the road, the farmers of the Stat.
undertake To pay bonus Of $40 900 O00 10
the sake Of the road ar with interest. $40.
100000. Surprising the payments extcn,
over aperiod Of ten years, the annual pa,
ment called for will be - 100000. Assum
ing that the grant male to your road vii
carry 5.0O0.000 acres, ct the rate that In
Illinois Central H. X. are selling their land
they would produce $50 200. 600, II you
roads are to cost an equal sum. this amour
will have to be paid by your people TO par
} ties living outside the State. in the course o
twelve or fifteen years or with interest
s'5, 900 900; and at the rate. taking tn
longest period Of credit. of $4,000 900 an
nually When i, is rmember~i that tn
great State Of Pennsylvania was unable L
} pay the interest on debt Of $4,000 00G
aud defaulted on the same, and that III
States Of Indiana. Illinois, and Michigan
utterly broke down under debts varying from
$4,000, 900 TO $4,000. 900. ought not IN
people Of this new Territory which has harl
ly i've years growth. to pause before impos
ing upon themselves burdens beyond III.
strength Of the great States OF New Yorl
and Pennsylvania 10 hear lo M, hest
tate TO say tina, IL such debt is tn b. en-,
s,ed against real estate in the Territory, a
profit to the parties building the roa.l. tb'
land grants, instead Of being a blessing
would prove great curse It would I've iar
better to wait few YEARS, I'LL You acquire
sufficient strength to build your roads ATE,
the manner Of Ohio and Indiana. than TO pay
the enormous bonus tina, is likely to be paid
u the grants 90 into the hands OF parties
who viii have no object hut to make the
most money out Of them.
assume that lasds are Ia build the roads
that profit viii be a',empte,i,o be realized
equal TO their cyst. such being the fact,
no, cent should he nseiie,,iy added there
to, They can bc bull, a, cost not much.
il any, exce,siing $4,000 PER mile can
name rcacs over more expensive routes. well
built. and well equiprsl, whose cost does
not eSccci that sum. This cos, would IN.
able the companies to scll their lands at
about five dollars per acre. q price which
would not rtard their rapid sale and u,-
provement {, il for the interest OF parties
furnishing the money 10 build the road. in
the most economical manner US il Is for the
interss, ofany prison TO k~p the amount II
any investment within the smallcs, limits
possible As the risk Of loss is rsiacSi in like
manner. The parties building q rad ex.
PFC, TO gct h,~ ct cost TO themselves. -
This "a TO he the measure IL their profits -
They a~ no better III with q rad cS,s,ing
$4,000. than with q Rad c,r~,ing $4,000
pr mihs; bat erN, deal wor~'. az with a
csst IL sao.Ooo pr NTH the, viii he able
10 sell and settle thear lands. which will thu,
yield an Immediate prutt to ,hrir linz. which