The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1856-1888, 1867-06-01
The Pacific Railroad.

Pacific Railroad. While our people have been
ponderin- upon questions of reconstruction. the
war debt and suffrage, a great work Of internal
improvement las been going steadily forward,
which promises 10 do more toward the develop
ment of our great natural resources. ana placing
our commerce upon q satisfactory basis. than any
single measure devised within this generation
The United States AZ present control the prices OF
Two of the great commodities in the markets OF
the worli-cotron and tie precious metals They
are the largest ur-iucer~. and can successfully oou-
Ieue with all others. The demand Tor gold and Si!-
yer J. practically Unsuitable, and should the present
production be multiplied by FIVE for twenty years
20 come. il J. not likely that the actual value would
Le greatly diminished. The -ASiatic Continent,
containing i've hundred tJiling millions Of people,
furnishes q new and growing market Tor both
god ami silver. Oar production may be put
down in round numbers. at q hundred millions a
year, for some years past bat in consequence OF
the work Of extraction ard reduction Of our
iuimi-able ores being done in sterile and inaeceS-
sijle regions. We have Dot been able 10 make the
profit from it, sale to which we are naturally
entitled.
The Pacific Railroad i the first great. oompre-
heu>iye. adequate step u reduce mining t. a reg
uiar and profitable system. which l. henceiurth
10 make u the great depository OF the world :
-currency-metal> IL ! a rare and peculiar
virtue of tie thousands OF tors 81 rich metals
locked w In the seams and rocks II our western
rangc- # mountains. that they VIII nay debts
the world over. Al that l. needed i = cheaper
the est Of production. ana the profit 70 ourselves
J. enormous: AMI u ID this. we need only u
provide roads. u use steam power, and u settle
the great mining districts.
Tie need and vital Importance Of n grand ma
tipnal highway from ocean to ocean. both Tor
national and military purposes. was long ago
discovered hut the recent cIenlng OF a lucrative
trade with the p~uVuluUs Empires of Eastern ASIA.
and the uucxamplcl growth and promise Of the
mining and agricultural capacities of the western
most third of our national area. haS given u the
work a value and significance beyond any other
enterprise.
1t isnow certain that the Great Pacific Railroad
must become. not only the main artery through
which the great tides of nter-continenta trade
must flow back and forth but also a tremendous
tertilizing and 4uickening agency, 10y which n
region Of astonishing wealth Is IL be settled and
worked up. The local traffic. feeling the first i'm
pulse of its power. promises u OyershadOw even
the through transportation. and 10 tax 10 the
utmost the capacities OF the best railroads. at most
relnunerative rates. Ii must become, in fact, the
King of the Railroads.&c. Grand Trunk line. to
which all others are more or less tributary. e
p~ecially il tli- true of the western half. known
Is the Central Pacific Railroad. which forms the
sole stem and conluit on the Pacific side through
which the golden freightase must pass. and the
mighty stream of produce flow.
When the Pacific Railroad was first talked of it
was estimated il would take twenty wears Ia
build but the war iaIniiiarized Us with great
Undertakings. and IL now promises to he built
within five. or within three from this time. The
telegraph recently announced the completion of II
continuous working line, on this side. from Chi
cagu 10 a point three hundred miles west % the
Missouri river. II was long before our people
fairly started work on this side. but they have
gone vigorously forward ever since. On the
other side. however. the imperative demands OF
the local interests admitted OF no such delay. To
the Californians nearer the scene it was clear
that tie pccuniary investments along the route
would amply repay the cost OF the work, and
quadruplc the value of every Investment already
existing there, indie evidently OF IT. through trade
Time was precious. since every year OF delay held
back the waiting territories more than IL would
cost To hasten the work. Notwithstanding the
existence of the war, the road was begun, and
pushed forward with all the energy which that
enreruriSing people could summon. As fast as
they advanced. they found anticipated difficulties
lcSscning. and what was more encouraging. found
they had all the business they could do. at rates sat
i-EIctnry u themselves and their customers. BY
the aid of the United States Government. Of State
and municiIai credit, added to the cagcrncss of
private capitalists. the work has been done with
out the aid vi foreign capital. In 1868 the
ground was broken in ten months thirty miles
was completed in two years - miles i'll three
years - miles and i'll December last 10 months,
81 miles were in actual operation, equipped and
probably occupied.
The first hundred miles comprises the only con-
siderable engineering obstacles on that end of the
road. Six thousand OF the seven thousand feet
Of ascent are safely and easily overcome; and nj
this InoIlcnt an army Of labOrcrs Is boring through
the crest Of the famed Sierra Nevada Mountains,
18th alb put nine hundred feet of rock intervening.
There are no grades on the whole line rs steep as
on our own Pennsylvania and Virginia railroads,
50 that the feasibility of the passage Is established.
TN the eastern slope of the mountains the descent
l. about ,ne-sixth of the ascent on the western.
and much of the grading i already completed.
Three hundred miles Of iron are already bought
and on the way, and thirty Of them viii be laid
during the coming summer. when ell Is c~pInIar0-
lively smooth calling, 50 that next year will witness
an astonishing race of construction across the
plains eastward - salt Lake. The road and its
il Is understood. are such As bctt
the great work, and compare well with any in
America. .
Such l. the energy and such are the resources
the young State of California has brought ,
u the prosecution of a great national improve
mcnt. No more convincing evidence can be given
Of the rapid accumulation of capital among that :
hardy people. Nearly fifteen millions have been -,
expended in constructing the most costly portion
If the line and the Company huS the best guar :
lntce Of abundance of means u finish 1t in the :
uuniicent returns it las made. and the yet richer ,
prospects before il. The total earnings Of this =
fragment OF from - % ~ miles OF the ThiI, It's q
most expensive link, during the year 1850, Were 3,
~ les than $500 ,0l0; and its net earnings +.
$685. $50, tn gold-or two thirds Of the receipts! =
IN the Atlantic States the operating expenses are |
50 70 - Per cent. Of the receipts; but on !
he other side. hv reason Of it, exclusive pTivi- I
eye. the increased rates are gladly and willingly :
as a boon instead of a tax. The net earn :,
Of this fragment amount To more than sufi- y
lent u meet the annual interest which the Com
any viii incur in building and equipping more
han twice the length Of road which earned it!
But even this i not the full measure of its C
uture returns from the same sources. Reliable h