Sioux City register. [volume] (Sioux City, Iowa) 1858-1871, 1860-04-28

Psgst Souud u especially imoDrtant in
= military and coQn1ercial point r view,
and our csamsncsms Of . railroad sys
TEN should look % On early connection
with that growing and commanding point
on the Pacific.
The corresponding bay Of sr.a. impor-
tsnca in the Southwest il the Gulf Of ca.
''fornia, aud although that leland sea does
not belong to us, We mnst look with inter.
est and favor on such honorable arrange
ments a. will give our Pacific main the
benefit Of suck tarbor, and cur railroad
'y'te" early and easy connection with it.
The report thes proceeds To discuss
the practicability Of the Central Route
The best proof Of the greater advantages
existing on the Central route is found in
these facts: First, that nine-tentbs Of the
overland emigration have adopted this
route; and secondly, the settlements are
larger and rapidly augmentiag only on,
or very near, this route. The new gold
mines Of Pixies Peak, the forty thousand
A'rmons, and the new and important
Wssho silver mines will al be accom- mo-
dated BY Central route and the latest
news from these new mining districts 10
exciting new food Of emigration, unpar
allied in former years."
The reports of Government surveys
clearly sstablised the feasibility Of the
route, tho abundance Of constructing ma.
tsrials and tie eap.bility Of the country
tributary 10 the route u sustain the road
when completed.
The probable cost of the construction
Of the road, Including relling stock, is es-
timated At $4,000 per mile. The total
length Of the road, including two convsrg.
ing branches which are to unite within two
hundred miles Of the Missouri, would be
two thousand miles, and the entire cos.
one hundred and twenty millions Of dollars.
The grass income OF the road is estin ated
at SO, 100000 per anuum, which amour,
is sufficient to pay current expenses, and
also fair dividend on the estimated cost,
$l2o,oOo,ooo.
THE PLAN OF EXECUTION.
Your committee have found the greatest
diversity Of opinion as to the mode Of &C.
comprising the object, aud for year: the
inventive genius Of men has been directed
TO schemes for constructing Pacific Rail
road. 1t is generally conceded that Gov
crnment must, in some way, encourage
the work, to induce private spital to take
hold Of il. Aher much consideration,
your committee have adopted plan Of
advancing Government thirty years bonds,
bearing live per cent. interest, in payment
OF telegraphic aud 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 ad.
vsncsd only rs sections of fifty miles are
completed, beginning at each end with
wha. is supposed 10 be only enough 10 aid
capital, the amount permits it to increase
~ the work proceeds from both ends to-
wards the centre Of the line, when the ex.
psnse will be greatest. Asa further secu.
rity. these advances are to be 6rs.. mort.
gage lien on the road and equipment 40
the effect is an advance of Govern mont
credit for thirty years on what would seem
to be ample security. We have stated the
annun! service now required by the Gov
erument (which could and would be far
better performed by . railroad) at FIVE
millions army and navy transports. and
one and half millions Of postal service,
which together amounts to six and half
millions. il is proposed to advance as
the work progresses sixty millions in
bonds, which may be increased by accru-
ing interest over service as the work pro-
ceeds to seventy millions. The annual
interest would then he $500 900. The
annual service as above stated, $500.
0o0,) SO the annual service would exceed
the annual interest S., 1000, 900. This las,
sum would remain with the Government,
rs . sinking fund, sufiicien, to ex,inguish
the bonds in less than twenty.four years.
and therefore before the bonds will be come
due.
II it be said the railroad will furnish
transportation At much cheaper rates than
now paid, still the saring is no less to the
Government, and the increase in quantity
OF public transportation viii probably
more than compensate for the reduction Of
prices. Besides, the service e. as the work
proceeds, will keep down large portion
Of the interest named, especially when it
il apparent the bonds will no, be advanced
till the work is all done. I, rem,in to bs
shown whether the sixty millions required
vii! Be well invested. Take from the es,i
mated gross income per annum the service,
as before stated, $500, 900, and there re
mains $23,j00,000 as the annual receipts
TO pay current repairs, expenses, taxes,
and dividends.
Engineers have determined the net cost
of running train to be about one dollar
mile. There are many articles besides fuel
that make up the cost. but that being the
principal item and fuel being scarce on
tbs road. We will put this cost at three dol
lars mile. Three through trains a day.
each way, will do all the business here
contemplated. The daily cost would then
be eighteen dollars . mile per day, ard on
two thousand miles $4,000 day, and for
year $l2,96O,O00, for running three
trains from each end each day. Take this
from $4,000, 900 and there remains So.
$4,000 to pay repairs, taxes, supervision
and dividends. For repairs, taxes, asd
supervision say one thousand dollars a
mile. $2,0O0,000, and there remains S..
1907 900, which is twelve per cent. per an.
hum on the sum Of SO, 0O0, 900 to which
the $50, 100000 may possibly swell BY in
tereSt during the com nIetion Of thu work