The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1858-03-18

railroad construction. by that time, also,
it had been discovered that il was the inter
est of the public authorities-State and mu.
nicipal-,o turn over these works to private
enterprise, holding the relation of creditor
with satisfactory securities, if any public as
sistance was given.
Such assistance, it became the interest OF
the great cities, struggling for the trade OF
the Western Lakes and Rivers, to give
to Railroads New York, Philadelphia,
Baltimore, Pittsburgh, Cincinnati and St.
Louis, most Of whom had grown populous
and wealthy by the canalage of the States
between ATTITUDES 80 and 43, came forward
and resorted to loans of Public Credit, as
the safest and surest means of extending
their Railroad connections. Boston had led
the way, by far-sighted scheme for turning
in her favor the trade Of New England, and
Northern New York. New York City
took the alarm, and from the Golfers OF her
merchant princes furnished the requisite
millions to blast through the Highlands with
the track of the Hudson river road and to
penetrate the wilderness Of Southern New
York on the route of the Erie road. Bal
timore invoked her credit to connect with
the Ohio at Wheeling: Philadelphia staked
millions upon the road to Pittsburgh, since
extended to Fort Wayne; Pittsburgh has
loaned her credit to the amount Of five mil
lions of dollars to the same and similar en-
terpriscs, and not content with being fully
protected from any payment OF interest, is
now claiming dividends on the above amount;
while Cincinnati and St. Louis have found
il an absolute necessity Of their position to
adopt similar policy. We have no stats
tics of Cleveland and Chicago, but are con
fdent in our general recollection. that those
cities have used their credit adyantagcously
to aid railroad construction. A correspond
ent Of the PIONEER, not long since, cited
the case Of the city Of Milwaukee, which
has issued bonds, as a loan Of public cred
il, 10 the sum of 81 100000 in aid OF rail
roads terminating at that city; and in ex
change for which second mortgage bonds
were received as sole security; while the re-
suit has been highly favorable to the pros.
perity Of Milwaukee, without the payment Of
dollar Of interest during the average pc
riod of four years. In every instance, while
these leading cities Of the central region Of the
country have been vastly the gamers, the
railroad securities have been ample TO pre-
vent taxation; although never 30 ample az
now proposed in favor of the State Of Min
nesota.
Thus, il will be seen, that the accumulated
Canal Debts of the Central States, and an
equal amount obtained by the intelligent use
of city credit, has been concentrated during
period of thirty years, in pushing forward
the magnificent network Of communications,
which now link Boston with st. Louis. 1t
is only within a few years that the districts
north and south of this Railroad Zone, have
aroused to the great necessity Of equal and
similar efforts. Canada, on one hand, and
the Southern States, below the favored par
allel Of 80, have benefited by the expert
ence OF the American cities, already enume
rated, and are now, by resort to loans Of
Public Credit, in fair way 10 bring their
respective sections TO the same point Of In
ternal Improvement
With these preliminary observations, let
us proceed to special consideration OF what
has been accomplished in other communities
by means similar TO the proposition pending
here.
|. CGaGdd.
We regret that our Libraries in st. Paul
do not enable us to state. in precise terms
the nature of the public encouragement in
Canada TO railroads Both the Imperial
and Provincial Governments have concurrcd
in making liberal loans of State Credit to
the Trunk Railway, and in aid Of the Tubu-
lar Bridge over the st. Lawrence; and we
lately noticed newspaper paragraph to the
effect that the Canadian Government. by
relinquishpg its lien TO tina, amount, had
enabled the Trunk Railroad Company to
negotiate $1,000 600 Of bonds 1t Is an
important consideration III favor of the Min
nesota provision, that ~ such release Of -
curities held by the State, can occur with
out an amendment to the Constitution.
The Canadian railroad system, though
largely dependent upon the aid Of the home
and local governments. has not, on that &C.
count. retarded emigration or the general
prosperity. Far from it. I, may soothe
the nerves OF our morbidly conservative
readers, to reproduce some statistics from