Nashville patriot. [volume] (Nashville, Tenn.) 1858-1860, 1858-03-05

RECENT indulgence IToI1 leAds brings us
very gratifying news, of the growing populari-
From various causes. arising out Of local in
terests within the State, facts connected with
the management of former administrations
and very natural doubts of the inability of
the new to secure the charter and carry on the
road with vigor there has been in Texas of late
a general lulzewarmness on the subject, and
formidable hostile interests These have re-
Gently given waybefore the proofs of the faith
fitness of the company and the energy with
which they have gone to work. Throughout
Texas very favorable change has taken
place, greatly to the advantage of the enter
prise. Persons and parties, of great influence
personal and political. some of whom were not
long ago Indifferent or even jealous in oppo-
sition to the objects and policy of the company,
have become fast friends and active advocates
have not merely given their support to the
objects of the company, but have united in
council with them, and given such active CO.
operation as viii ensure speedy victory over
all obstacles and rapid progress of the work
through Texas Thence TO the Pacific will
then become national want, not to be salts
fed without speedy accomplishment. The
stockholders will then realize the great profits
of the enterprise, and the fast friends, who
faithfully exert themselves to ensure this grand
result, will have earned high eleyation in the
country as public benefactors.
The same favorable influence brought about
in Texas by the completion of the first section,
thereby securing the charter and all its
privileges, extends elsewhere. A more favor
able feeling is manifested in the additional
firmness given to the stock and its upward
tendency in price. This ought to be perma-
nent, for it is founded on a rational view of
the solidity of bases which the company has
now attained, and the clearing away of uncer-
fafa rxrhsn A.
work. 1t affords inducements which ought to
be very satisfactory to the nonpaying subscri-
bers, whose stock was sold ON the 18th as for
feited. They have, under the resolution of the
board, the privilege of recovering and retain
ing their stock, ON the payment, within
month. of the back installments, and the inn
proved condition of affairs makes this an adj
vantage which 1t is to be expected they will
be glad to accept 1t makes no difference to
the company what class of holders reclaim
the paid up stock. The forfeiture was inevi-
table, and indispensable. All the difficulties
which beset the company during the past sea-
son resulted from the failure in paying these
installments. Hence the necessity of borrow
ing, and giving liens on the road to raise mo
ney 10 pay contractors, in order to complete
the section required by the terms of the char
ter. The sale of forfeited stock has helped to
remedy these evils. The liberty allowed to
defaulters to resume it, under the new and i'm
proved auspices, is favor which ought to be
readily accepted. Only short time is given,
because it is highly important that all these
questions of interest should be settled finally,
that the stock may take its place as a deter
inmate investment in work which is no lon
ger speculation, or an expectation, but a
solid reality.
The rights of the company are fixed, and
the conditions of the charter all complied
with; no new sacrifices, under forced march
es, are required; and if not another spade be
put into the earth for many years, the rights
and franchises of the company are their in-
alienable property. No other company can
supersede them; and none can ever expect to
obtain such liberal grants, and such generous
exemptions from legislative restrictions.
But the work will go on. 1t needs only to
be studied and comprehended to receive all
the support which will enable it to go on rap
idly to completion. 1t is a great national
want, and great Southern want, and it must
go on. 4 majority of the stock is now held
by Southern people. 1t has peculiar claims
on Southern statesmen, Southern patriots and
Southern capitalists, as "a legitimate means of
strengthening the South within the Union,
and for the Union, in harmony with the gem
eral good of the whole Union. Let us then
take courage, and act together, to bring about
the earliest contamination of a work SO great
and so beneficial.-N. o. Pic, 26th uh