The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1858-02-18

Fon du lac, the Milwaukee and Watcrtown,
and subsequentlythe Milwaukee and Horizon
the Milwaukee and Lake Superior, and the
Milwaukee and Beloit Railroads were pro
jected, and 20 each one Of these Companies
has the city Of Milwaukee loaned its credit, 70
the amount, in the aggregate, Of 81 SOC, 900;
and In every instance the loan has been
sanctioned by u separate and nearly unani.
nous vote Of It's citizens nor IN we shall
soe, have they had occasion TO regret this
liberality. And what was the security
which the city Of Milwaukee took from the
Railroad Companies, upon the issue and de-
livery Of these bonds Not n first but IA
second mortgage upon u line Of road. not
NM mile of which was, ri the time. con-
structed, without land grant, and that
mortgage subject TO the PRIOR lien Of y
first mortgage of $4,000 per mile. The
necessity Of the 80 demanded il and yet
up to this time, the city has not been Obliged
10 pay single dollar of intercst upon the
bonds 40 issued Even In the present crisis,
when Railroad Conn anics have found It al.
most impossible 10 obtain money upon any
description Of Railroad securities, and while
some OF these roads are still in progrss, and
vnpvodtiet,pe, and not mile OF track laid,
the Companies have met the interest accr,i-
Ing upon the city bonds loaned TO them, ind
the city has been saved harmless. These
bonds, too, Notwithstanding NO provision was
made for lcvying AN annual tax 10 pay the
interest, and create sinking fund 20 dis
charge the principal, (which In no strcnuously
demanded here by the opponents Of the
Loan Bill) werc readily negotiated by the
Companies at prices varying from 80 TO 92
cents on the dollar, Other towns, too, be
sides Milwaukee, have loaned their credit In
aid OF these same Railroads 10 the amount
~ we ore informed, in the aggregate, of
nearly, S5 900 900, and upon the same ~
curity, and thus far without loss And what
has been the eject upon the city Of Milwau-
keey Has II retarded her growth and pros
perityl Has il checked the flow Of capital
and Immigration thithery BY no means.--
The city has grown to population Of 80 900;
business Of every kind has been stimulated In
q corresponding degree, and real estate has
been enhanced in value literally more than
tenfold. In 1872, before this rnilrond
policy was inauguratcsl, business Of every
kind was dull, sfagnant. PROSTATE, through
out Wisconsin Thousands were selling
their property at much lcss than its real
valnc, and removing 10 other States, chiefly
to California, and the most hopeful shook
their heads in despair Of revival. Pro
perty, especially real estate, was n complete
drug. But with the introduction OF the
railroad policy came new state of things.
When Il became cstabishe that Wiscon-
sin was 10 bc intcrsccted by railroads, afford
ing to her citizens an opportunity 10 get 10
market, they ceased TO emigratr. business
revived, capital and emigration flowed rap
idly in, and since then the increase Of wealth
and population in Wisconsin has been
alike steady and remarkable. The popula-
ton Of that State now h about 100000; /;
in 1850 !, was but J05 900; and this
growth IL due almost solely TO her railroad
system, and the wisc policy pursued by her
citi1ens in fostering and developing it---a
policy too which was forced upon them by
the exlgcncics Of their condition, and WAS
reluctantly and with many misgivings
adopted.
Here, IN Minnesota, at the present time,
We Sce u state of things similar Though
wor-j 10 what existed In Wisconsin in
lsj0 u, aud We must, VIC think, apply
similar remedy. To secure the speedy set
,Icment and development Of our State, our
railroads must be constructed. Tho able
report of the Senate Committee satislac-
toriIy demonstrates the great advantages
TO every interest which would re,ult from
tho proposed expenditure Of five millions
within The next twelve months, and We
shall not now attempt 10 elaborate upon
that subject. The beneficial consequences
mus, b. apparent 10 every busiDcs man.
The sabjeci itself IL one 10 which every
citimn Of Minnesota las deep interest.
There ia not one individual among US who
OWE q single acre Of land, single town
lot, who ia engaged in any branch of bu,i'
pess " industry. not one who has really
made hs home here, but has direct inter
~, 10 the question and il u Tor such To ut
down. calmly and Seriously consider the pro
posed neasurs iD NIL It's bearings. and de-
cidc. xiih an unbiased judgment. upon ia
exydIency and iA wisiom.
We are here, the pi0frsr ~tuefs Z"
,hinly populated but sovereign State, the
embryo u what can be made prosperous
and populous community. Within our
borders lic vast and frtiIc regions which
are as yet Inaccessible To the caltivator; and
beyond us stiIi, lies half continent not yet
,roA by civilized raee. These plains are
IN he sabdped and cultivated by the white
man, and Congro, In ia wisdom and libe-
rali,y has endowed u. with magnificent
dumsin, 10 aid IA 10 the development Of
,hcs latent resources. 70 commence the great
national highway 70 the Pacific. Our
Lgi.lature hms devised Railroad system
adequate 70 the wants n our whole State
and the question now 10 be decided Is
whsther our people will aid in S:tting thi.
sy.,em In immsiia,s and suecessful op,a