The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1858-03-25

accumulate the first thousand dollars, than
all the rest Of bis great fortune: and Napo-
| Icons favorite maxim in military affairs W 5
d" II u the Gya step uhih costs" The pco-
pie Of Minnesota had conferred these lands
with vague impression that the Compa-
mics receiving the conditional title TO them,
would by some mysterious process, trans
mute them into money but it was soon
found that capitalists have established an
memorable rule, to accept nothing as a finan-
cial basis, short Of that amount Of actual
construction, which gives an assurance Of
immediate income and future progress
They would refuse, and properly refuse to
touch Minnesota Railroad Bond, in ad-
vance Of such II pledge that tee ners dong
something )oT ot0seires| In vain would the
Companies point TO five millions OF lands,
saleable after construction and in proportion
10 construction The answer would ineyi.
tabIy be the moral of the fable of the mired
waggoncr and his prayer TO Hercules for
help
The first alternative TO obtain the amount
required TO reach the point, regarded by
the holders Of railroad bonds as essential to
any negotiation, was subscriptions to capital
stock but in Minnesota, where money has
been worth three per cent. per month, and
where, last summer, sagacious men felt and
foresaw the impending crisis, there was no
general desire to invest in railroads.
The next suggestion brings us to the point
Of danger, which, we confidently believe, can
be avoided, in the present condition Of the
country, by intcrposing the Loan OF State
Credit. liear in mind, that the imminent
question with each Of these four railroad
companies was how and where to get the first
million Citizens Of Minnesota, as their
leading men wcre--anxiOus to meet the Just
expectations OF the people and interested
in common with the whole community, in
tho results sure TO follow the commencement
Of The ,oni,.--how evident it il, that the
railroad interests Of adjacent States, who
can allegc with entire sincerity and truth,
that they are deeply interested in establish.
ing advantageous connections with our fu-
ture roads, might at such Il moment up
proach our Minnesota Companics with offers
of assistance, and that these would be &C
ccptcd even at great future sacrifices. Just
in the degree, that our own Railroad Direc-
tors were sensitive and anxious TO discharge
their trust, would they be likely to seize
at the prospect Of immediate relief. Re
ject the Loan bill, aud our Companies must
appeal to Chicago, Dubuque, aud Milwaukee
for co-opcration--of course, yielding to them
a proportionatc representation of Dircctors-.
in starting their enterprises, and bringing
them to the point where foreign capitalists
will ln,erposc, Ratiiy the Loan and the
same objcc, is accomplished by the states
mnnrhip Of our own people, and capital will
be all the more attracted to us because we
thus make common cause in starting and
prosecuting our system OF Internal Improve
mcnts
The question might rsst her, too palpa-
biz to need further nrguinent--but as the
opposition TO this beneicent measure has
been almost wholly PERSONAL has been little
else than attacks upon our citizens who hap
pm to be- connected with these Companies.
We ARE disposed TO dwell more upon par,cu
lars, than would he otherwise necessary.
|. rHH NissEtroLis AND CEDAR VALLEY r.
X. COMPANY.
Among the gentlemen connected with
this Company, and also, on the part OF the
pubic ,her Is mueh confidence in It's early
construction, |, arises from the fact that
the City OF Dubuque has issued $3.50 900
OF City bonds. TO aid in the construction of
a railroad ENTHUSIASTICALLY to the Minnesota
line and Chicago with all the east and west
roads of Northern Illinois, expect TO con
meet with the Minnesota and Cedar Valley
rcad. These important southern connec.
ncc,ions certainly fortify that read and is
is probable that Illinois and Iowa capitalists
might furnish million of dollars, NOR,
readily than tina, sum could he rais,,i
by any other Minnesota Company, Indeed.
an impression prevailed - generally in the
Legislature, iha, the irs, if,y miles north OF
the Minnesota line would certainly be con
structrd by means furnished from below,
that an amendment was PENDING in the F,
Senate I'VE believe !, was adopted at one
iimc), pVuiring the State hoDi, issued
10 the Minneapolis and Cedar Valley Rail. /
mad Company To b. esrndd between
faribault and Minneapolis hut upon fur. |