The Abbeville banner. [volume] (Abbeville, S.C.) 1847-1869, 1858-02-04
THE PACIFIC RAILROAD.

Th" suffice, Of the Pacific Railroad has fur
several Years past attracted some ai,cntinn in
Congress. The Bill introduced in the Senate hv
Mr.. GwiN seems to he the most feasible plan,
viii III has y". been pr"l"'>rd Even this E;II is
not without, oil, cclionS il rr"l,ns,.s To make al.
vaiic"> 10 the Company which are tn h.. paid
back in service. The Road. when cu.n,l-,-,l
would hc grand monopoly, an.l wurlI rx,ur,
from, the Government the most cxorlirnnt com
pcn-allon for the transportation Of troops and
the United States mail We apprrl"nl tha,
S:j,u0n, ,0nD can never hr appropriated to this
project with il sufficient, guarantee TO the CIV
give the following synopsis of the Bill, flo the
C,uoi;na Times:
The first srcri"n authorizes the President To
make contracts for the transportation bv Rnru;ll
vi mails, troops, munitions OF war. supplies .yc
from point the Missouri river, between the
mouths Of the Big Sunk and Kansas rivers To
San Francisco, the most eligible. rou,c-rcf.r.
cnce being had tu feasibility, sl,ortncss aud econ.
my.
The second directs the advertisement: for pro.
r"s;l!s for constructing the road and crlnrriin.-
tn" service required.
The third section rr"vi'l-s that the contract.
r.Iarv ri the Treasury as Il guarantee Cor the.
tu'iii'ncrt of the CONTRACT.
The fourth section provides for th" :p,,rnpr
alton OF quantity of public lands equal in il,-
alternate sr':'I";iS, tor twenty miles either
sid. Of said road Ihr"ugll"u, it, entire length
Tir l::ih and sixth s-rIions relate to In. lnc:,-
ton Of the r""lc n",l it, div :>;"n into rciiu.s,
i"-"ihcr with compensation Of CARRYING tlI"
mails.
The next section aulhorzcS the iSsninr to th.
contracting parry. on the complexion Of the first
twenty-five miles of the road United States
bonds, I" the amount Of s. ,in per mile, which
are to bear interest, payable scmi-ai,ii.alIy, not
exceeding five per cent, and are 10 br payable
nineteen years after date of said contract. On
The completion OF he second section Of the road
Il similar amount 81 bonds is tu he issllc and 50
with each Succeeding section until the road is
finished, providing the aggregate amount shall
not exceed S25,ouO,nDU. These PAYMENTS are
declared 10 be- advances made To The cont ractin.s
party, anl together with interest, they ar. To b..
repaid III transportation and service ;.s provided
Tor IN III" act, before any compensation besides
tho lands appropriated Is to be given for such
transportation and service. This section also
provides that the contracting party shall pay
duty on ali iron ml"rtcd for the road and shall
"ivc the preference to American railroad iron il
the latter Of equal quality can he obtained ut q
cost not exceeding that from foreign countries
lhe eighth section cnactS that in Case the con.
tracing party fails TO prosecute the work so as
to secure its completion in compliance Will, the
terms Of the agreement, all their rights TO the
said road, right of way, lands and other prop
crty pertaining thereto, together with the uncx.
pended amount of stocks deposited shall be for.
iri'cd IN the event of such forfeiture, the Pres.
i'icnt is authorized to rclet the uncumpeted por-
lions "f the work, terms not exec. ding ,ilos,
provided for i'll this act, and so as to secure its
earliest completion.
Tho other sections make directions in regard
to the selling of the lands along the route, the
establishment Of Electric Telegraph, and
some matters of detail not necessary for ,ls TO re-
peat. The Eill has evidently been prepared with
great care, and should enlist ccrcfuI scrutiny