The emigrant aid journal of Minnesota. [volume] (Nininger City, Minn. Terr. [i.e. Minn.]) 1856-1858, 1858-04-28

The l.Oan Blll and the Effects Of It's success.
The success of the Five Million Loan Bill was
far ahead Of t,ee expectation Of its most s~anguine friends,
It was next to being unanimous, and would be so sus.
tanned if submitted again. Its effect has been of s
cheering nature, and hope and confidence are beginning
TO FIRE all hearts. Even the few who opposed it are
faiu to admit that its FIRST effect, will be to set in motion
the languid energies Of business, and introduce capital
here. In this admission is con ,eded all that was
claimed, which was denied by the opponents Of the
Liam before the election. A few still persist that the
Railroad companies never intended and never will make
the roads, and that the money will be swindled out Of
the people. But the extravaganza and contradictory
nature Of the opposition to the Loan, proved it to be Of
q narrow and contracted spirit, which can conceive of
no impulse to affect the heart of man but blind selfish
ness. Even if the companies were all combined to de-
fraud the government, they would still rtqnire the con-
nivancs of the Governor and the other leading officials
of the State to abet them in such robbery, and only 3
small portion could then be taken in periods of months
intervening; this is hardly a s~upposable case.
II the V -rous companies proceed N a straightfor-
ward course, the amounts Of the loan they are to get
will enable them to go on az once and make contracts
Tor certain portions Of the road and once begun the means
to continue them will rapidly flow in from the sales of
their lands, which will be eagerly snapped up at from
FIVE to twenty dollars an acre such at any rate has
been the case on the Illinois Central and other land
grant roads. In the report of the former road, made
this spring, the price Of their lands has averaged twelve
dollars and 8 Lalf al acre, and they have literally
pecp!ed a district with wealthy and thriving farmers,
which was almost unmarketable at any price before the
reads were begun. One fact Herewith Is significant,
atd that is the statement that the local trade, which
the road itself has created, will, in a few years, entirely
pay the expenses Of that road.
If the companies which control the roads in this State
should allow themselves to be tempted by the insight
6cant amount that they might secure by suborning the
Government and enticing their own members to commit
so 6agi!icus an act as that of a.isusing the means
just placed at their disposal, a powerful influence would
instantly be brought to bear that would forever crush
them. The wealth, intelligence, and influence in every
class, are DEF ply interested in the immediate construc.
ton ofthe roads every heart is alive to the Importance
Of these works, and the effect of this influence is now
such, that the road companies feel it as q power that
would be dangerous to tri6c With. It is producing q
%salutary effect, in urging on the companies to keep up
with their expectations, even now, and it will continue
to follow and coerce them, If necessary, until the last
tie is laid, the last rail fastened, and the moving train
shall be laundering across OUT prairies. Devlate they
cxnnot-dare not. Their own interests, ccmprehending
the honor and pride that is so dear to man and the nil
lions of wealth that is attached to the muriGcent be.
quest Of land in their hands, will bind them close to
2 faithful performance Of their contracts. If net, the
fear Of the universal execration aud loathing that must
follow th. and .mbitter the days of every soul con-
nectsd ther with, ". uld certainly make them hesitate
before they should dare abuse the confidence just repcsed
in them.
Already the tidings have been heralded from many
points that the hopes Of the people are being consum
mated. Orders for the immediate commencement OF
several # the roads have emanated from tt cir Boards
<t D%i,tttcas: railroad contractors Of national fame are
1uft,ing :heir services, aud expressing their readiness
to ass, me obligations to enter instantly upon the work
furnishing their own capital, and accepting the bonds
# tie Safe fer payment. The manufacturing estsb'
lisEn.erts that are to supply the new class Of inple.
nents that will tc require d to construct the roads, ar.
being put under way, and e~migrants are Icing drawn
hither nv the important revolution so"n to be wroush '
open the affairs IF this young but great State within a
few years.
We do not refer 10 many Of the rumors set aaoat
showing still greater progress than we have alluded I"
az we make allowance for the sanpuiue nature OF men
we have confined our statements, to facts for which
We have The names and dates. Of this, however, al
will 81 on be aware, as the work goes bravely en-. W.
have coufdt Mt hopes that in its beneficial tendency the
most exub. rant fanny has not exceeded the results 'ht
immediate commencement Of our railroads will have or
the growth and greatness Of our beloved State.