, 1860-01-12
THE GREAT WEST.
Eompssf5fou for Hz Carrvixs- Traa<,-Dfr.ex
TFGde H9th Earops.--sttc FORK .7tern,td


GonpesLfoH for It's Carrying Trad<.-ptr.ef
1r4de H7th E:aropt.~-1sse FORK -7karnsd,
[Irou the :'sw York Tlzcs, s:b.1
X DE11Eu SEIZURE IN EsnSEsr-A new and
singular chapter opens on our Western carry
ing trade with the recent completion of the
great Iictoria Bridge over the St Lawrence, at
Aontreal.' When the Grand trunk Railway of
Canada was projected, seven years sgo, and
found ready ami powerful financial support in
london, It seemed to be, and WIS p1onouuccd
on ah's side the Canada line, the widest, most
extravasnnt and least profitable Of the North
American railway excitement Of that time, It
Started on an assured minimum basis If p:ne
millions sterling. and has actually cost uear,r
twelve millions, or about SO 010 ,0,rl Federal
money 1et 1t laied not 10 command NIL the
Sasf means promised IRON London, and the
amplest Endorsement cf the Colonial Govern
ment The money has been spent, the road
finished, and its great bridge ut Montreal oncn-
ed to its direct traffic with the New England
sea6oard. The end Of construction has been
Gained; that ot profit remains to he told. It is
tl1is last that now interest the Cated States.
and especially tie Empire State Of New York.
II our people smiled with incsedulity at the
must prepare to entertain graser settlement
on its consuu,matiou
II the Grand Trunk w:z costly mistake a..
mere work Of Canadian necessity and im-
nro5e'nent TIE experiment was onc which was
freely and heartily gone into by the Colonial
Government in London and by lie Iri,;si neo.
pie, on the chances Of MAXIM the CaoaLas a.
great IN material progress Rs they urc ia lovsi
to tue English nasae and Crown. And now ,Lat
It Is seen that, for local ojscts, this rast chain
Of railway must fail to retain ereu mou.rats
income 70 luz pfoorr'etors. the infringement,
WIN the,lniom:tablc perseverance, which Le.
longs to the British character, if not will. par
ttat infusion Of the ''go-a -!.ead" reck!essness
which ,narks American competition ia such
matters, are turning the work to q different, and
70 " most unexpected account. Thy Adr<
H.it4 Haka, @i.ea orr Haf.ra e4,cys"g t,ad<, o"d
l,etoa, ~ TIE wAr OF CASApA. and on trim
fet7eA a.nass: d-;y eompttitton from the trunk
lines Of Maryland, fennsylvauia and New
York. They are delivering -four and
grain in New England, and bot1, domestic and
foreign merchandise IN Ohio aud IiIi,,uis cheap
rhiladelphia Of ser York OF Albany. Not con
tent With this, they base entered ilto competi-
ton With our coastin, trade from the Gulf 10
tue East. and using the Illinois Central. a., d.
IFe,1"y eofton from lkemphts to TIE .E-ac En9lond
Jd:orl.*eheaper and tcith more c+pt4is;oa tdan It
0rAans and tA<,set ty sta 10 h., Iork aud
E2sFo". Nor have they been nEm1ndfu1 Of
fhelT own direct steam communication with
England, from Quebec and Port1ani--the last
named mint being converted into a mart Of
Dftttstf' f'Amer1cau commerce By reason oil the
perpetual lease or virtual Ownership by the
Grand Trunk Company OF the Atlantic and IT.
Lawrence Hallway from Portland to the Veto
Iia bridge They are now using the Quebec
lire Of screw steamers, already one Of the most
successful hetween England aud this continent,
-t1r 'f''iffTi"y P'od",e from Csacia"aki and
~; e@;,'gaM nt.fi,5::o ~ :.rt"fy d5W- ehirh
is tic H'tf, h:ro"yA to kiftrpank. 4 sample ct
ibis operation nag b. seen in Wall street auost
my day, attached to Sterling Bills of Esclapre
made against Bresds:utIs aud Neat Provisions
from the u st On England. And it is by no
means certain that in another rear the cotton Of
Tenness=e anA North Mississippi will not b.
made to take the samc cxs1aordsrary direction.
say iro'a tie planting States to Manchester
through Canada.
The inquiry very naturally here c,unes in
HdE raa Mtt b do@e 1itA prcft:' We shall not
9Atertase mathematical solution. but with tie
fact before that Il is done ard will most likeiv
continue to be done, and on much more for
midabls scale b:fure tho diversion ends, We
must be-, cur readers to b. content, for tie pres
ent, Will brief statement Of The apparent aJ-
EantaEes under which these strides of our
Colonial iabors. with the free cons.nt and En-
couFageEaent Of tls English prorrit.oss Of the
Gran't Trunk, are being taken.
To begi,I with the terms " fair profit" and
satisfactory incoaae," ss applied to this ill.,
Eestlnen. OF twelve millions stetjin. md
others Of a like rllaructc: in EpeIapd, Ne need
on! y remind the american public, tha, they a,e
nos measured " our notions 1t value any more
than the ErItis!i Tlrc. Yer Cent3-conu-
lariy known as Consols-arc squared by our
Federal Five Per Cents. OF Ecw lo.;@ Six Per
Cents. Tie British Railway Shareholder il cnn-
tent 10 ao!a frr TWO Or twp and u halt rcr cent
ner annu;n, if disappointed in ::e,tir:: i've ur
SIX. Aut when tho Grand Ttuus seemed to
promise Eue ':ss than two per gent. Is mere
Colonial line tu: the business Of ti,c Cplonies-
hc is amply reasej, ani lis pride ~ al Eul,s!,-
man gratiiied. with the prospect Of maxim. II
ultimately profitable in II: direction We hny.,
described, c7cn il the w.,olc reycurcs Ct threc
or live years should he absorbed to test the ex.
pertinent. tdey haTc beco'nt USED to this sc1t
OF thing with tue Great Western oi En.lauI
and oti'cr costly lines ut lone. The t:rclt
csteEn nrolYes nearer twenty -;ire millions
Sterlln:. than fkecrsnd Trunk tE elve. a,tl when
it pays txo aud half per cent. for Il ear or
two, aad then falls. '.y the y..st expenses aud
eonstaMt improvement Ct tn- ''scyen foot
Eu1ge, to ONE per cent. tho sLar.s arc sl:u
he!a Us fair risk at 80 PR cent on tie calcu.
lation Of the Letter time t., come
l'at u u TT 10 n!tAns certain that tie rexe-
'.ucs o. th1ee or live years will necessarily lie
thrown away t" svcu-c the trade of the West
and southwest. The original projectors Of the
road Ind the sayacity to secure the Atlantis mud
r. !.awreuss lease before building the Victoria
!stld:e, and tue rt=,e:t management hare not
Jailed TO Effect the oeed,u alliances in the West
to NIL ke their connections i: !cas: temporarily
complete. Tic Illinois Central from Cairo to
chicago is their natural alv by reason Of its
English proprietary, aud they bridge tie reuiu-
snla Of Michigan BY another English work. the
Dctro': 4 Milwaukee H.ilway. KS this las. Gun
neetion will not fully answer the designs Of the
company OIL RE winter anil early spring trade OF
!''s West, While the lakes ure closed. it il nut
impossible that cue Of the older Michigan, roads
may be leased, like the Atlantic 1 81, Lawrence,
or controlling interest purchased in it> shares
aud mortgages. The Michigan Southern La,
hsez named III this connection, because Ct its
present financial cm1arrassment<, wa:cl. hare
ctleapene'l almost to nominal value it, stuck
and bonds. "ud because, TOO. Of iss terminus at
Toledo Us well n Dctrois--thc former poin. be- |
ing essential to the Cincinnati connections Of tho
t;santl Trunk. Eut all points CT detail out o The
question:. it is quite certain Tint unless We are
wide aSuks to this extraordinary diversion Of !
our own trade, The "1ywiil speedily be found,
IN all It's ramlhcatlous, to accomplish the srN OF
this noweriuf British con,n.t;tnr