, 1868-04-10


To make the estimate liberal, we may place
the cost of building fat iron road in round
figures at $500, 900. This is sum that ought
to be, and be readily raised in this Valley,
and thus the railroad built without assistance
from abroad. 1t is possible that some persons
may object to a\road of this character, but |
would have those\ who thus object remember
that a few years since all the railroads were
built in this manner, and were found to answer
excellent purpose. Over fat iron road
speed of from twenty to twenty-five miles an
hour readily be made, and certainly this
would meet all the present demands of the
country. 1t is not, however, my purpose to dis
the merits of the different kinds of railroads
This is question that the railroad company
when formed, will decide, and any suggestions
that | might make will have little influence in
settling the question. My purpose is to awaken
an interest in the subject of railroads, and to
demonstrate the practcability of building a road
that will place in direct commu unication with
the Columbia River.
MEANS TO BUILD THE ROAD.
Assuming that the public will favor the build
ing of frst-class road, the question arises how
-the necessary funds can be raised ? In old and
settled communities a half a million of dollars
is mere bagatelle, too triaing to attract more
than passing remark, but here on the extreme
of civilization, in country that but yesterday
was reclaimed from barbarism, half a million
of dollars is a sum frghtful to contemplate
But even this sum when contemplated from a
distance is frightful than when closelys can.
ned. To commence with, the S. N Company
composed of gentlemen Of large means and great
enterprise, looking to the extension of their
trade and an increase of their business, propose
to invest one hundred thousand dollars in the
stock of the railroad company. This amount
have been authorized to guarantee by the Presi-
dent and Directors of the D. S, N. Company
and those of you who know the men who com.
pose that corporation need not be told that when
they take hold of enterprise there is no turn
| ing back Their motto has ever been "onward :"
and have this to say that if the men who con>
| troll the navigation OF the Columbia River unS
dertake to aid in the building of the railroad its
completion is fixed fact. In a great improve
ment OF this kind, however, it is proper that you
| my Fellow citizens, who to be so largely the
gamers, should lend helping hand, and pros
ceeding on this hypothesis, have estimated that
individual subscriptions to the stock of the Rail-
road Company can be obtained to the amount of
SlOO,O | hear of merchants in the town of
Walla Walla who propose to invest $4,000 and
$4,000. Your worthy chairman, himself a
noble representative of the farming interests of
| the Valley, has signiied his intention to take
$1,000 in the capital stock of the company. |
hear OF other farmers and mechanics equally
| liberal, and so | feel warranted in saying that
| SlOO, 900 can be realized from individual sub
scriptions. believe that this sum, with slight
exertion, could be doubled, but we prefer not to
unduly tax the business and farming interests.
There still remains $500, 900, which it is pro,
posed to raise by issuing bonds of the Company,
the interest on which to be guaranteed by the
county Railroad bonds thus guaranteed, and
bearing an interest of say per cent. per annum,
could readily be disposed of in the Portland San
Francisco or New York markets, and thus the
means secured to build and equip the road.
THE QUESTION OF TAXATION.
The proposition to pledge the faith of the
county to meet the interest on $500 900 in bonds,
not unlikely will frighten those who forever have
in view the bug bear of high taxation. have
already shown you thst in other communities
in Missouri and Wisconsin-where towns and
counties have guaranteed the interest on bonds
issued for the purpose Of building railroads, thai