The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1860-06-01

State. This proposal contemplated by
one and the same means the restora.
tion of the State credit, and the COM
pletion of at least fifty miles of railroad
by each of the four land grant railroad
companies who were recipients of State
aid. There can be no doubt that it was
conceived in fair and equitable spirit and
we may add that it was a wise measure.
Great doubts were entertained as to whether
it would accomplish the object in view.
Without reference to its application to other
companies, we now have reason to believe
that its passage, and approval by the people,
would have enabled this company to put its
road into operation to st. Cloud during the
present year, and to have paid oil existing
liabilities. We look upon it as an auspi-
cious effort to do justice to the companies
and to preserve the honor and integrity Of
the State.
The governor has given Eotice in one of
the city newspapers, that he will sell the
lands, properties and franchises of the com~
pany at public auction on the 23d day of
June next, for the nonpayment of interest
claimed to be due by the State.
If it were conceded that he has the legal
right to do so, the propriety of the policy
involved in the step admits of very grave
doubts.
1t is believed that foreclosure and pur-
chase by the State would operate as mer-
ger of the franchises of the company. No
new franchises could be obtained therefore,
as the Constitution prohibits the granting
of especial charters. The management of
six hundred and fifty miles of contemplated
railroad, and two millions and half of
acres of land would then come under the
operation of general railroad law, subject
at all times to be changed to the detriment
of the company at the instance of rival in.
terests, the temporary purposes of politicians
and political organizations and the caprice
or changing views of successive legislatures,
thus rendering the property insecure and its
revenues fuctuating and uncertain. By the
provisions of the present charter, made lib
eral in its terms to induce capitalists to in>
vest their means freely, under solemn guar
antics that their privileges and immunities
should be stable, and permanently protected,
the properties of the company are not SUBJ
ject to taxation either for township, county
or state purposes. but in lieu thereof three
per cent only of the gross earnings of the
road are required to be paid into the State
Treasury, thus avoiding the great expense
incident to the annual assessment and COLI
lection of tax upon such vast amount of
property by immense numbers of assessors
and tax-gatherers. Neither can the legisla.
ture at any time interfere with the rates
charged for the carriage of passengers or
freights nor the speed or running operations
of trains. In several of the states where
these privileges and ilnmunities are withheld
from the companies, they are compelled to
maintain very expensive organizations to
prevent the annual imposition by the legis-
lature of additional burdens in the form of
assessments or taxes, or to pro rate their
freights and passenger receipts with other
and rival roads or canals, all of which tend
to make their investments insecure and their
dividends uncertain.
Indeed, the experience of our own and
other companies in this state for the last two
years admonishes US of the danger of state
interference, for since our acceptance of state
credit and before any benefits could possibly
be derived from it the most astounding eff
forts have been made to induce the legisla.
ture to limit control and interfere with the
affairs of the company in such measure as
to bring disaster to the stockholders as we'll
as the community.
Official notice has been received that the
Commissioner of the General Land Office
has completed and certified lists of lands for
this company within the six mile limits,
amounting in the aggregate to Bis, 489-79-
100 acres.
From careful estimates, it is calculated
that your road can be put into effective op-
Grafton from St. Paul to st. Cloud for the
sum of 100000. When completed to that
point, the company will be entitled to the
absolute ownership of 3O7 900 acres of land.
Lying as it does along the valley of the
Mississippi, on both sides, and within very
short distance of the numerous hourishiDg
towns along the river, and being of supe-
rior quality, an active demand for it would
at once spring up, at prices ranging from
So to $l2 per acre. The astonishing in.
crease of population along this valley, and
the valley of the Sank river, during the past
two years, can hardly be credited by those
who have not actually observed it. The in
crease of productions, and especially wheat,
has been still more enormous. No one fa~
miliar with the localities can doubt that
there would be sufficient business for the
road, if completed to St. Cloud, to pay the
interest upon the cost and keep up proper
repairs.
The navigation of the Red River of the
North by the steamer Arson Northrup
has been completely successful. 1t has
given new impetus to trade and travel.
-Four horse passenger coaches are now being
run three times week, and twenty-five
freight wagons leave weekly from this place
to Georgetown, there to connect with the
steamer for Pembina and Fort Garry, and
the amount of goods and merchandise which
is now being taken to those points for the
Hudson's Bay Company alone is very large.
We learn from the English newspapers that
the Parliament of Great Britain is about to
establish colonial government in the valley
of the Red river, and that the Northwest
Transit Company have obtained grant of
land for railway purposes, twenty miles in
width, from Fort William, Lake Superior,
to Pugets Sound. All these will greatly
facilitate the undertakings of this company.
The returning prosperity of the Western
States, the more economical and improved
management of railroads, and the large &C.
| cnmulatiOn Of "a nifal in commercial oortroo