The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1864-02-16

body will perceive that all Of the four
companies upon whom this grant was
conferred by the General Assembly have
failed to comply with the provisions Of
the act Of July l4th, 1855, and that there
is no reasonable probability that their
roads will be completed to the Missouri
river by the first of December, 1865, a.
required in said act, nor is it at all likely,
from present appearances, that they will
be able to do so even by May. 1866, as
required BY the act of Congress granting
these lands to the State. And should
the. fail in this latter respect all the
lands embraced in the grant and remain
ing unsold will revert to the United States.
Without further Legislation by Congress
it is obvious that We are not only in dan
ger Of losing these lands to the railroad
companies but also to the State.
The Importance of this subject, in its
present aspect, cannot be over-estimated !;
and immediate action should be taken to
avoid a calamity now SO imminent
RESUMPTION
In consequence of the failures made BY
these several companies to perform the
conditions of the act of the General AS
mbly, it is undoubtedly competent for
the State to resume all rights in these
lands granted to them, and which remain
unsold. This being the point st which
We have arrived, the immense and varied
interests involved in the question. de-
mand that We shall take our soundiugs
calmly, and act upon them with due de-
liberation.
In view of all the circumstances, would
absolute resumption be wise and just?-
Upon this subject, l am free to confess,
that | am unable at this time to make an
definite recommendation of measures
which would be entirely satisfactory to
my own mind. bat / do advise you to
take such action only, as you may eonsid-
er necessary to fully protect the rights
and interests of our citizens and at the
same time be just and liberal towards
these delinquent companies.
1t is eminently proper that you should
be reminded Of the many serious embar-
easements, amounting to almost insur-
mountable difficulties which have beses
| these and other western companies N the
prosecution of railroad enterprises. The
monetary crisis Of 1857, entirely unfor-
seen when these grants were made, fell
with peculiar force upon the whole coun-
try. aud rendered the procuring of means
for the construction of public improve
ments a matter of exceeding difficulty -
Private and public enterprises alike bowed
to the storm. Corporations and indiyid-
uals, all over the land, became the VIC
tins of an expanded and over-burdened
credit system, and we're buried in its
ruins. And before we fairly recovered
from these disasters the present war burst
upon the country, again deranging its
financial concerns and diverting trade and
commerce from their legitimate channels.
The laboring population were called into
the public service, and all the materials
needed in the construction Of railways
went up to almost fabulous prices.
Time need not be consumed in endeav-
oring to impress upon your minds
the importance and utility of rail-
roads in promoting the welfare Of our
State. Sound policy requires tha. We
should keep this steadily 10 view. and re-
sist all demands for such measures as are
calculated, in their results, to seriously
impede the progress of our railroad enter.
prises. Yet, imperative as these consid-
erstions are, we should not overlook the
Importance of imposing suitable restric.
tions upon these monopolics, and require
OF them strict accountability and faith.
full performance of their legal obliga,
tions.
The insaiiate thirst for railroad suprem.
acy, which has so effectualiy impressed
its iron will upon some Of the older States
has not yet been developed in Iowa, but,
warned by their example, let US throw
around these corporations, while in com
parative infancy. such restraints as will
enable US to control their actions aftel
they shall have reached the fu!lness Of
their strength.
! Entertaining these views, | shall co
operate with you 10 adopting such meas.
ures as may be deemed .expedient and
necessary to relieve these companies from
the consequences of their failures, ant
upon such conditions as will secure to ii
our citizens having just claims::upon these
lands full and complete justice.
/ w M SToNc