The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1865-10-23

from Congress the parties who have been
urging the project Of Pacinc railroad have
failed to. carry them ont Their sohenss are
sll broken to pieces, or they sye used for specu-
lative purposes, in bolstering up some sinking
or perhaps bogus stock. There is plenty Of
capital in this country and Europe to carry
through this important undertaking without
delay, and without begging Congress forgrants
Of land or other donations. The party of Euro
pean capitalists who have just been making
tour, examining our system of railroads and
investigating the extent of our resources. has
had this subject brought before them. In
speech recently delivered before public
audience by Sir Morton Peto, one OF the most
influential members Of tho party, he said he
would like TO see "the Union of the States
made solid and enduring by the linking Of the
Pacific territory with that of the Atlantic by
means Of the iron bands Of the railroad. There
should be no more rounding or crossing
by Panama, or attempts to convey by steam on
that route the vast trade and travel which
would ensue between the two sections of the
country now that the war was ended. Then,
as now, England and the United States would,
he was confident 60 hand and hand in pushing
on the civilization of the Old and New Worlds"
Observations like these, coming from 80 practi-
CAL sagacious and influential q source, cannot
but be regarded as significant English capital
il ready to be invested in this road. One
important and substantial link Of the East
ern section-the Atlantic and Great West
ern roads the work of English capital
and enterprise, with Sir Morton Peto,
Mr.. James McHenry, Mr.. Kennard and
others as its architects and constructors.
These gentlemen and their friends de-
sire no Congressional subsidies to aid
them in their enterprises. What they un-
dertake to perform they undertake to accom-
plisb by their own means, and they have never
yet failed Of success. All they ask is the favor
OF the American people; and that this is album
dainty bestowed is illustrated by the numerous
cordial, fattering and liberal demonstrations
that have greeted them all through their tour.
This new steam line Of communication with
the Pacific is demanded for number of rea-
sons. It will bring Europe closer to Asia, and
make America the centre Of the worlds COM
merce, civilization and progress. II will make
this continent the centre Of trade and travel be-
tween London and Pekin. 1t will civilize our
vast Western wildernesses, spread the Offering
riches of the Rocky Mountains and Sierra Me-
vada before the world, and open surer and
more expeditions route from our own Atlantic
shores to the Pacific than the roundabout ones
by way Of the Horn or the Isthmus. This trade,
as Sir Morton suggests, now that the war Is
ended, will become enormous. and will require
double or more tracks to carry 1t on. The
business with the new States and Territories
Of Sierra Nevada, Idaho, Montana, Utah, Colo
RADIO, Arizona, New Mexico, together with Ore
gon and Washington, is rapidly augmenting, and
Is entirely beyond the capacity of the present
modes Of conveyance, although new expresses
are started every few weeks over the plains.
The pioneer people Of these regions appeal
earnestly for this railroad, and are willing to
lend oil the aid they possess to carry it along.
They know that by the means of this road the de-
velopment of their country will, in ten years.
time, well nigh repay the cost of the road, and
their population be counted by millions instead
of hundreds of thousands. The questions as to
what route IL will take or by whom it will be
built are with them no matter Of Importance.
All they say Is, ''Let the road be built, no mat
ter by whom, or whether by foreign or native
capitalists" This is the proper spirit
The people on the Pacific side, with their
usual energy, commenced their end of the route
some two years since, and, notwithstanding the
war and the high price of gold, have assembled
over half way from Sacramento city to the
summit Of the Sierra Nevada mountains and
expect TO have the road built to the summit
one hundred and four miles from the city Of
Sacramento-by the first Of November, 1866.
When II is considered that Sacramento is two
thousand seven hundred feet above tidewater,
the magnitude Of the work may be imagined.
Four thousand men, mostly Chinese, are at
work on this end of the Pacific road at this
time. The State Of California has donated, for
the prosecution of the work, two millions one
hundred thousand dollars, in gold paying inter-
est bonds. The city Of San Francisco gives four
hundred thousand dollars, Sacramento six hun
dred thousand, Placer county two hundred and
fifty thousand, the interest on all of which is
payable in gold. This shows the spirit of the
people Of the comparatively young State Of
California in regard TO this grand project The
same enthusiasm in regard to 1t prevails all
through the mountainous silver regions.
To meet this momentum on the Pacific side
we have already lines established on the
Atlantic side, reaching directly from the city Of
New York to the city Of St. Louis, and stretch
ing some two hundred miles from the latter
place into the interior. In the construction Of
large portion Of this route, as we have already
seen, European capital has been largely
invested without government aid. All they
have now to do is for the moneyed men Of