The hydraulic press. (North San Juan, Nev. Co., Cal.) 1858-18??, 1859-02-19
Pacific Railroad.

Pacifcus. There cannot be too much
said, although there has been too little
done, on the subject discussed in Mr..
Fitch's pamphlet, and hence we are
glad that has been published. 1t COM
prises forcible reassertion of the prin-
cipal arguments, which have been here
tofore advanced, in favor of work, the
necessity and Importance of which are
universally admitted in California, but
not sufficiently appreciated by MAORI
ty at Washington. The author especially
dwells upon the great necessity for the
road as means of national defense. He
considers, as all must who discern the
tendency of our foreign policy conjoined
with the restless enterprise of our peo-
pie, that war with England or France,
if not with both combined, is an newt
able and comparatively near event; and
he therefore urges the immediate con-
struction of this great connecting high
way as measure essential to our nation
al vitality.
He proposes new plan for the action
of the government in aid of the road,
suggested by the example of the British
government with reference to the Great
Western Railway in Canada. The
proposition is for the general government
to aid the contracting parties in raising
the means necessary to construct the
road, by endorsing on the bonds of said
parties the pledge of the government to
pay interest to the holders of said bonds
semi-annually, as the same shall fall due,
at rate not to exceed five per cent. per
annum; the bonds not to run a longer
period than twenty years, and the gov
ernment liability not to exceed in the
aggregate the sum of four million dollars
per annum; the contracting partiesto first
expend two and one-half million dollars,
at each termini of the road, towards the
construction of the same, separate en-,
dorsements to be made thereafter as
the work progresses; and for this aid
the government to be amply secured on
the stock of the company, and on such
lands as may be set apart in their behalf.
Mr.. Fitch thinks that the government
endorsement would make the bonds of
the company at once secure and desir-
able stock for the investment of capital,
and, judging from the manner in which
bonds of similar desert Upton are sought
after in the London market, he believes,
that the subscription, for the full supply
Of the sum required, ,could be made IN
sac days. This plan certainly obviates
the objection made to direct appropri-
alton of government money, and might
be adopted without any danger of loss
to the federal treasury, while it also
seems to remove the objection that the
road would be improbable for many
years after it's completion.
Recent advices from Washington rem
der it probable that no Pacific Railroad
bill will be passed at the present session
of Congress. There are too many diff
ferent plans, and too many conflicting
interests. The project, however, has
never before been so generally debated
by that body, and the dominant party
being now more distinctly and positively
committed in it's favor than heretofore,
we regard the passage of bill by the
next session as certainty. Congress,
in this matter, has Jagged far behind the
people, and has been influenced much less
bya patriotic regard for the whole country
than it should be. The scheme for the
acquisition of Cuba, which promises to
distract our national councils and further
complicate our foreign affairs, has already
won more hearty support than the Pa
cific Railroad, which would contribute
to heal sectional differences, to bind
together the sundered extremes of our
empire, people new territories, assure the
J safety of the Pacific States in case of
war, and open to the whole country new
sources of prosperity.
HETERODOX.-We confess toa strong
liking for Henry Ward Beecher, in spite
of his extreme notions on some subjects,
and hie Charr,a,s r;Ao .a-. II