The Union and journal. [volume] (Biddeford, Me.) 1858-1882, 1869-04-16
WASHINGTON ooRREsroSDExcE.
WASHINGTON, April ~, 1869.

WASHINGTON, April II, 1869.
EpIroR UNION & JOURNAL Among the
number Of enterprises that arc attracting the
attention Of the people, perhaps the most con-
spicuous is that Of the Pacific Railroad. This
rad is divided into two main branches,-he
Union, commencing at Omaha, and running TO
Ogden, some eleven hundred miles, and the
Central commencing at San Francisco and meet
ing the Union at the above mentioned point To
aid In the construction Of these great national
highways, Congress has made lavish appropria-
tons, both Of land and money. Every alter
nate section Of land, twenty miles wide, upon
both sides Of their road, was granted by Con-
gress, making the same amount OF land as n
tact twenty miles wide, the entire length OF
these roads Also by an act Of Congress, the
Secretary Of the Treasury was authorized to Is
sue U, s. Bonds 20 said companies, as follows
sixteen thousand dollars for eleven hundred
miles, thirty-two thousand dollars for three hun
drcd miles, and fbrty-eight thousand dollars for
three hundred miles Of the more difficult por-
ton. But notwithstanding this enormous sub
sidy, the companies, by an amendment to the
original bill, were allowed to issue irSt-class
mortgage bonds to the same amount as issued
by the government per mile, and the U. ;.
bonds were 10 DO placed subsidiary TO the bonds
lScuCl nN tho Cnthp1AliOos Aeamh NV NSo'aN
Grafton these amounts raised, and calling the
land two dollars and fifty cents per acre. 1t will
average about eighty thousand dollars per mile,
and rs il will not cost over forty thousand dol
lars per mile, TO construct the rad, II leaves a
margin Of forty thousand dollars surplus funds
per mile. II is not surprising therefore under
the circumstances that the Pacific Railroad has
been constructed in such n short space Of time.
n. yars.l IN htail1 mnel
rad As possible, a. the more IL constructed, the
more money Il made by the operation. IL was
this struggle TO build the most rad that has
caused the controversy between the two branches;
the Central DESTROYS Of having the junction Of
the two roads at Ogden. and the Union. Monu-
ment Point at the bead Of Salt Lake. Although
the Secretary Of the Interior has twice decided
that the point u junction should be Ogien, the
Union continued its operatsons some forty miles
beyond. building its road alongside ann paral-
lei with the Central. The central has graded
It's rad 10 Ogden, but the iron has not been
laid down to that point; and upon the assump-
ton that the rad was not complete, the
Union continued ON beyond Ogden.
This controversy between the two roads has
been settled by legislation. One Of the last acts
Of Congrcss was TO adjust this difficulty; Il g.
tablishes the point Of junction at Ogden and fur
Their, makes il obligatory upon the Central to
nav the Union for the amount they have expcnd-
ell beyond Ogden. This settles the difficulty.
but there l. another point which Is Of moro vital
Importance 10 the government. There u ring
established called the Credit -ho6iiisr which
figures extensively in connection with the Paci-
&c Railroad In this Credit Mobiler are some
Of the directors Of the Pacific Railroad aud s
natural consequence this ring has taken the
most Of the contracts 10 build the road. As the
directors controlled the letting Of contracts the
Credit MObilier got the lions share and at more
morn than paying prices. This ring has 10y
securing the most OF the first class mortgage
honds) nearly the full control Of the rad and
can eject lust such officers rs Il chooses I'm
der the-e circumstances Il Is but fair SUPPOSE
ton 10 infer that the holders Of the first class
mortgage bonds will forcclose that the rad will
be brought by the Credit MObilier and the gov
enment thereby lose its interest in said road.
That such project is intended cannot for = mo-
ment be doubted. when the circumstances arc
taken into consideration. This Cr,lit Mobiller
has paid dividends among It's shareholders TO
the amount Of seven hundred and hfy ten do
lars Tor each share Of one hundred dollars and