The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1866-04-25
The Northern Pacific Railroad.


From the World.
We understand that the House Committee on
the Pacific Railroad have perfected bill in aid
of a railroad from Lake Superior to Puget
Sound, which is the beginning of new policy
on the part of Government. Our readers do not
need to be informed that, in our judgment,
building RAILROADS is no part of the business of
Government, however desirable il may be that
railroads should be built. But such are not the
opinions prevalent in the national councils, and
strict constructionists can only hope to miti.
gate as much possible the expense aud the
injustice OF such stretches of the governmental
sphere. In this case the committee take the
ground that railroads mu.t be built, not with
money from the Treasury, but by private enter
prise, and that whatever aid may be given by
the Government, there must be reimbursement
on the part OF the company. The provisions OF
the bill are as tollows:-The company must
build twenty-five miles OF frst-class railroad and
telegraph line
When that is done, when it is accepted by the
Government, the Company is to have the inter-
est OF its stock az six per ceng on fixed amount
per mile, guaranteed for twenty years. AT the
same time the Government reserves oDehalf
OF the proceeds of the lands. which, by the
charter, have been granted 10 the Company,
also twenty five per cent. of the gross earnings
until the reimbursement is complete The Com.
pany are prohibited from issuing any bonds, aud
they are 10 construct their road with American
iron. The capital stock OF the Company is one
hundred millions, but the amount OF stock on
which the interest is guaranteed Will be only
about ffty-seven millions, to be determined by
the length OF the road when the same shall
have been located. ]he interest of sixty mil
lions is three million lour hundred and twenty
thousand, to be paid out per annum when the
road is completed. ..-..t
The friends of this road find as they think in
the report OF the Commissioner OF Public Lands,
proof that the Government VIII be reimbursed
long before the TWEEN years. guarantee has
expired. About SIX hund1ed thousand acres of
land we're taken up in Minnesota alone during
1865 mostly along the line of railroads now in
progress, This, at two dollars and a halt per
acre, the minimum price fixed by Congress on
the lands among the Northern line would yield
fifteen hundred thousand dollars. SUPPOSE
that the Company should put down two hundred
! miles during the next twelve months, on which
the interest is guaranteed at the rate of twenty
/ thousand dollars per mile, the interest would be
two hundred and forty thousand dollars only.
Now, if like amount Of lands were disposed OF
during that time as were sold last year, the
! Treasury would acquire surplus of twelve hun
| dred and sixty thousand dollars. The sale even
! Of one hundred and tifty-siX sections 100000
! aCTes) of the land which has been granted TO
| tie Company is expected to reimburse the Gov
ernment ior its aid in constructing the two hun
dred miles. The highest amount per mile
| guaranteed in the mountain section is only
fifty thousand dollars The friends OF. the road
thus consider that the Government is not only
secured from loss by the provisions OF this bill,
but that there is good prospect OF large
revenue from lands which will remain worthless
Till a railroad is built
Among the gentlemen engaged in this enter
prise are some of the ablest railroad managers
Of the country:-Hon. J. Gregory Smith, ,flate
Governor Of Vermont, and President OF the Yer
mont and Canada line; Hon. Onslow Stearns,
President OF the Northern New Hampshire
4 George Stark, Manager of the Boston and
Lowell; Hon. L. s. Tobey. President of the
North American and Liverpool Steamship Com
pany, and other gentlemen of New York and
the Northwest.
A movement is on foot by English capitalists
TO open a line from Lake Superior to British
! Columbia, wholly through British territory
The richness OF the Carboo Mines the fertility
OF the Saskatchewan country and the necessity
Of binding the Provinces together in connection
; with the confederation scheme, has awakened
new zeal upon the subject
| 1t is the intention OF the managers of the
Northern Pacific TO engage in their work a
once, and push 1t to a speedy completion, pro
vided aid is granted by the Government. The
grant of land which has already been made Il
lberal but in these tunes, with the Govern
ment in the money market, paying seven anC
three-tenths per cent, for money, II is idle fol
private company to expect to obtain one hun
dred millions or capital for such an enter
prise; but, with a guarantee hor the payment o
the interest for q term of years. they think the
capital can be readily obtained.
The proposed road runs through a section o.
country separated from Colorado, Utah, anC
Nevada by high mountain range. 1t is from
five to seven hundred miles distant from the
Central. There is no antagonism between the
two lines. Both will be useful Montana con
tains thirty thousand inhabitants. Cities anC
villages are springing up all over the territory
at the headwaters OF the Missouri The rush O
emigration to that section is unparalleled. Hal
lday's stages are crowded as never before
About fifty steamers are to leave st. Louis in
April for the upper Missouri Emigrant trains
are fitting out in Minnesota and Iowa. Genera
, Pope has found it necessary to issue orders re
pulatng their movements, to protect them from
the Indians. 1t is twenty-!our days ride over
/ 1ond Inv cta IN mill
By river the time is forty days and the distanc,
24O0 miles; by enigrant train, sixty. But by IN,
proposed railroad the time will be shortened t
, thirty six hours from st. Panll Idaho Wash
. ineton, and Oregon would doubtless be greatl
benefited by the opening of such road.