Bellows Falls times. [volume] (Bellows Falls, Vt.) 1856-1965, 1867-06-14
The Union Pacific Railroad from
Omaha, Nebraska.
What has been done, and sshen IL sciH Do
finished. i

What has been done, and rhen q WiH be
finished.
No great enterprise was ever begun about which
so little has been said and so much has been done.
The public have vague idea that railroad is
being built from somewhere in the East 10 some
where in farther West than a ral-track has ever
before been laid but where 1t begins and what
route it follows, or where it is TO end we venture
10 assert not one in thousand can tell
For dozen years we have heard that great
Pacific Railroad was TO be built and dozen names
and dozen companies, and dozen routes--from
the southern boundary Of Texas to the northern
boundary of Lake Superior-have been urged up
on Congress as the greatest and best means for
uniting the Atlantic and Pacific shores. Bubble
after bubble was bown, and each burst in turn
when touched by the sharp point of practical ex-
perience.
The absolute necessity for Pacific Railroad to
retain and bind more closely together the eastern
and western extremes Of the continent in one
great United and Pacific country, the immense
cost of government transportation TO its frontier
and Rocky Mountain posts and tho even greater
| cost of Indian wars, in region that nothing but
a railroad could civze, and nothing but civiliza-
ton could pacify,-the great importance of open
ing road to the rich gold and silver mines of the
| Rocky and Sierra Nevada Mountains, so that the
way to the resumption Of specie payments might
be made shorter and easier,-all these prudential
reasons finally pressed with such weight upon Con-
gress, that it determined that the road should be
made There were, indeed, many others two
thousand miles of additional territory would be
opened for settlement; vast bodies Of land now
valueless would be made productive; the tide OF
business and travel that now winds tedious and
dangerous way along the borders of two oceans,
would be increased tenfold and how would the
fathers in the East strike hands with their and
daughters Mt the Golden Cate, il they could only
| INah N~,, t1,a xxrt,, Of tI,l nfty
| The imperative need of the work was admitted,
but it was too vast for individual enterprise to at
| tempt No combination of private capitalists was
willing to risk hundred million dollars in the
construction of 1000 miles of railroad through
wilderness. As the undertaking was strictly ma
rional so no power less than that of the nation
was sufficient to accomplish it; and large as the
cost necessarily would be, the expenditure would
save a much greater cost to the country.* But
| the Government did not wish TO enter upon any
new system of internal improvements on its own
account and its only alternative was to grant its
aid in the most careful manner to such responsible
| individuals OF suitable character and energy as
might be willing to risk portion Of their private
means in the construction OF the road.
THE ooxPASY's CHARTER AND ROUTE.
This charter was granted and perfected by va
rious acts of Congress, and the company COM
prises of the highest reputation for integrity,
wealth. and business experience. Among the Off
GERS are General John A. Dix, President Thomas
| c. Durant, Vice President, and Hon, John j. Cis-
co, late Assistant Treasurer of the U. S. Treasu-
| rer
4 The capital authorized by the charter is one
hundred million dollars, of which it is estimated
that not exceeding twenty-fy millions will be re-
quircd, and of which five millions have already
been paid in.
Surveying parties were at once pushed out in
various directions across the continent 10 find and
4 <bo kagt .bl hot fba
Fri river and the Pacific ocean. This was estab-
lished at Omaha, in Nebraska, on the east, and
will finally be at San Francisco, California, on the
west--a distance of nearly one thousand miles
i The Chicago and North Western Railroad is now
Completed from Chicago to Omaha, a distance of
4s2 miles and several other roads are rapidly
building to unite with the Union Pacific at the
same point so that its eastern connections will be
numerous and complete.
4 The general line Of the road from Omaha is
west up the Valley of the Great Platte, and
thence across the plains distance of SIT miles,
to the Black Hills, or easterly spur OF the Rocky
Mountains. Col. Seymour, the Consulting En-
gineer reports that the grade is much more favor
| able than was anticipated--the maximum to the
Rocky Mountains not exceeding 30 feet to the
MILE and from that point to the summit or divide
of the continent it will not exceed so feet to the
mile. From the Rocky Mountains. the best prac-
ticable route will be taken TO Great Salt Lake City
and thence by the Valley of the Humboldt river
| to the eastern base of Sierra Nevada Mountains.
The Central Pacific Railroad is now being rapidly
built east from Sacramento, Cal, and is already
completed about 100 miles, and will connect with
the Union Pacific.
| WHAT HAS BEEN DONE AND ITS COST.
| AS we remarked before, there has been very lit
tie talk, and great deal of work. Almost before
the public were aware, it had been begun. On
the first of January, 1867, the Union Pacific Rail-
road was finished for 305 miles west from Omaha,
and fully equipped with locomotives rolling stock,
/ repair shops, depots. stations, &c.-and the COM
pany have on hand iron, ties, and other materials,
sufficient to finish the road to the Rocky Noun
tans, 5l7 miles from Omaha, by the first of
September, 1867. 1t is expected that the whole
line through to California will be completed in
! 1870.
The first 305 miles were graded, bridged and
ironed, with heavy L rail, and supplied with
suitable depots, repair shops stations, locomotives
cars and all the necessary appurtenances of first
class road, for $4,000 per mile and it is believed
that the remaining portion will not increase the
average cost TO more than $4,000 per mile, ex-
elusive of equipments.
MEANS FOR CONSTRUCTION
When the Government determined that the road
must be built, it also determined to make the
most ample provision to render its speedy con-
struction beyond a doubt
| lst-THE GRANT OF MONEY The Govern.
| HicHt lssueS 10 tle company It's cent thirty
year bonds at the rate OF $4,000 per mile for the
whole road, and, in addition. for $50 miles across
the Rocky Mountains this grant is trebled, max
ing it S4s,00o per mile; and from the termination
Of this section to the California line (about s9s
miles), the grant is doubled making s32 900 per
mile,-the whole amount being Si4 EOS, 900. |
These bonds are issued by the Government only
on the completion of each section of twenty miles,
and after the Commissioners appointed by the |
President of the United States have certified that
is is thoroughly built and supplied with all the |
machinery, &c, of first class railroad The in |
terest on these bonds is paid by the u S. Treasu-
ry, and the Government retains, as n sinking fund
to be applied to repayment of principal and in
terest, one half the regular charges made for
transportation by the company against it. These |
bonds, which are second mortgage, are not due |
for thirty years, and it is not improbable that the
value of the services to be rendered 10 the Gov |
ernmcnt during that period will constitute sink
ing fund sufficient for their redemption at matu
| rity.
2d.-THE FIRST MORTGAGE BoSps.-The |
Government permits the company to issue its own |
mortgage bonds at the same time, and on the |
| same terms, and for the same amount, and by |
special act of Congress these bonds of the compa.
ny are made a first mortgage on the entire line |
and property of the road, the Government bonds
being subordinate. The amount of these bonds
to be issued by the Company is limited to an am.
tn fhoca b.,t beG L