The Placer herald., 1863-05-02
From the S. +. Monitor1
THE PACIFIC RAILROAD BUSINESS.

Engineer on the "PreEminary survey, cost of
construction, and estimated revenue of the
Central Pacific Railroad" submitted last
October to the Directors. From this docu-
ment we learn that Messs Leland Stanford,
Charles Crocker, James Barclay, Theodore
d. Judah, l.. A. Booth, G. F. Huntington,
and Mark Hopkins, Of Sacramento; D. w.
Strong, Of Dutch Flat and Charles Marsh
of Nevada, are the owners of the franchise
for the construction of the central portion
Of the Pacific Railroad. No attempt is made
to disguise the fact that these parties sent an
agent to Washington to secure for them this
stupendous grant. The length of this por
ton Of the road is to be 40 mes-that is
to say from Sacramento to Neil's Station in
the western boundary of the State. Mr..
Judah, the engineer, estimates that the cost
Of the construction of the road will be
SO, 2,38OO0O. To enable them to accomplish
this work they are to get $4,000, 900 in
bonds from the Government; which, allow
ing for depreciation, must amount to at
least one third of the expense. These bonds
are to enure to the Company as each section
of 40 miles is completed, west of the west
ern base of the Sierra Nevada mountains,
at the rate of $4,000 per mile; and @48, ,00O
per mile for the balance.
Besides this they have a grant of strip
Of land 400 feet in width along the line of
the road, together with alternate sections of
land not sold, pre- empted, or otherwise dis
posed Of for distance Of ten miles on each
side. The value of the timber alone on
these lands is estimated by Mr.. Judah, as
follows:
Allowing the 100000 acres instead, to yield
90 cords OF wood per acre "a very low estimate)
| and it amounts to 2j,000000 cords of WOOd. .
which. If delivered ut Sacramento at Sc per
cord, would amount 10 Sl5a000 900, and pay the
road about 100000 OJ0 freight.
This is the showing which the company
make themselves 1t is upon these figures
and calculations that they have been asking
for subscriptions in order to obtain the means
to commence the work. 1t would certainly
appear that the resources which they set
forth ought to be sufficient to build the road;
but instead Of that what do we find? Mr..
Stanford, who is President of the enterprise,
and, to all appearances, only &c Q0ci0 Gov
eruor Of the State of California proposes at
present only to build so miles of the road,
running eastwardly from Sacramento; and
and notwithstanding the resources which he
says he has, now asks the people of San
Francisco to give him 100000; Sacrament
to, &300,O00; Placer, 3250,000; Nevada,
$3.50, 600; aud the State $4,000 per mile
for the whole iue-Whch will involve an
expenditure OF its part of S $l300,000 All
this vast sum Of money-&6 600 600 from
the General Government, ST ,300,0 GOO from
the State, 5000, 600 from san Francisco,
GQ0D 600 frC,a OGD frf,,,,
Placer, $250,00O from Nevada together
with timber to the value $4,000, ,00O-is
to 90 iuto the hands of Messls. Stanford,
Crocker, Barclay, Judah, Booth, Hunting
ton Hopkins Strong and Marsh, to build a
road which, according to their own estimate,
is to cost only 3l2, 2,370,00O without security
Of any kind or nature whatsoever. Neither
the State for its 81 300, 900. nor the people
of San Francisco for their 5000 600, nor of
Nevada for their 325O,000, nor Of Placer for
their $3.50, ,000 are to have any voice in the
management, direction or disposition of the
funds. The whole of this enormous sum
must 90 into the hands of Stanford & Co.,
without safeguard or guaranty Of any kind
or nature whatsoever. They may expend it
on the railroad, or they may put it in their
pockets.
The way in which it is proposed to get a
portion of the money, is as repugnant to gov
ernment in any shape as the whole project is
monstrous and startling. The people are
to vote as to whether this money shall be adj
yanced or not by the counties named. 1t
would seem that here in California we pick
up the bad habits of the Eastern States after
they have been exploded there. 1t was for a
long time the custom in that region for the
people to vote money to railroads but the
courts in a great many cases have set aside
such acts 1t would be all right if in such
elections every person should set forth in bis
ballot his name and address, together with
the amount he was willing to subscribe; but
to give those who have no property the pow
er to prescribe the amount which those who
have shall contribute to a given enterprise;
is absurd, ridiculous, and subversive of all or
der and government If man who has no
property can compel man who has to hand
over mill on the dollar for any project he
may favor, he may force him to surrender
his all. In such case there would be differ
ence in the amount; but not in the princi-
pie.
The whole scheme was denounced in the
Legislature as an attempt to levy forced
loan on the people Of the State, aud SO it is,
1t would never have acquired the solidity
which it now possesses but for the fact that
it has been pushed forward with all the force
which attaches to the gubernatorial office.
Whether it is or not becoming in the Gov
ernor of the State to descend to be the leadl
er of the "lobby," we will not undertake to
say. One thing is certain-the men who
are in power ale png up the debts upon
the people to height sufficient to sarte the
most phlegmatc. There is no war here, but
California is beginning to present the app
pearance of State prostraed by remorse
less foe. 1t is not guerrias we have here
but vampires, and they are at work night
and day Wa are afraid that before they car