The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1860-04-27
WILL 1T PAY 7

WILL 1T PAY?
The Committee, without taking into &C.
count that the railroad will affect the com.
merce, travel and social intercourse of the
world-will bring Europe and America
much nearer to Asia, and make the road a
great channel of foreign intercommunica-
ton, base their estimates upon the ordinary
railroad results achieved in this country.
1t is computed there would be 100 900 pas
sengers each way, Or 100000 trips per an
mum. These at $50 each, for the Railroad
travel from the Missouri line to California,
would amount to
Inc sum OF. $lZ ,OU0,0 O0
All the gold would be transported
by rail, and pay three per cent. on
on nifty millions. Observation-Disclosures. $500, 900
The mails at prices heretofore ex-
ceeded by land and ocean. ...... 1900, 900
transportation of men and munitions
OF war, same as it now costs for
way and through transportation. 5000, 900
through and way freight and way
passengers. Observation-Disclosures. 10000, 600
$500, 900, 900
A sum sufficient to pay the current expenses
of the road, and fair dividend on the esti-
mated cost of $l60,O0OOOO.
GOVERNMENT AID-HoW MUCH AND HOW
GRANTED.
The bill accompanying the report, pro-
poses to incorporate company to construct
railroad
Starting from two points, one on the west
ern border of the state OF Missouri, the other on
the western border of Iowa, with two converg.
ing lines bearing westward and uniting within
two hundred miles of the Missouri river, and
thence proceeding by single trunk line, by
the nearest and best ronte to the bay of San
Francisco, or to the naviga BILE waters of the
Sacramento, in the state Of California
A grant of lands is made to the company
of every alternate section within one mile of
the road, or in case of tie lands, or any
portion being occupied, or mineral lands, an
equal amount within six miles of the road.
In advancing further government aid, the
committee have adopted the plan of advanc-
ing government thirty years bonds bearing
five per cent. interest, in payment for tele-
graph and transportation service, which is
to be executed during the progress and after
the completion of the work. To secure the
government, they are to be advanced only
| as sections of fifty miles are completed, be-
ginning at each end with what is supposed
to be only enough to aid capital, the amount
! permits it to increase as the work proceeds
| from both ends towards the centre of the
line, when the expense will be the great
est. AS further security, these advances
are to be first mortgage lien on the road
and equipment-so the effect is an advance
OF government credit for thirty years on
what would seem to be ample security. The
annual service now required by the govern,
| ment (which could and would be far better
performed by railroad) amounts to five
millions for army and navy transports, and
one and half millions for postal service,
which together amounts to six and half
millions. 1t is proposed to advance as the
work progresses sixty millions in bonds,
which may be increased by accruiDg interest
over service as the work proceeds to seventy
| millions. The annual interest would then be
$3,500,000. The annual service as above
stated, ($6. 50O000) so the annual service
would exceed the annual interest 100000
This last sum would remain IN the govern
ment as sinking fund, sufficient to extin-
guish the bonds in less than twenty-four
years, and therefore before the bonds will
become due.
The parties undertaking to build the road
are required to proceed at an average rate
of $50 miles per year, after the first year,
and to complete the entire line within fifteen
years from the passage of the act. The
other provisions of the bill relate to the de-
tails of the government aid, the transporta-
ton of mails, use of telegraph, sc.
This bill will undoubtedly command
more strength in Congress than any propo-
sition yet advanced. A bill providing for
three roads, would be obnoxious to members
not interested in their location, as expensive
and impracticable.