The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-12-04
address opposed any more subndies from the
national QoYernmant for Pacific roads.

national government for Pacific roads
General WALpRiDGE, OF New York. again made
strong appeal favor OF the road and national aid
Just ce 10 the South. which section should have been
bound with bands OF steel 10 the West twenty years
spared US.
Mr.. CREswELL said the Board had acted upon this
matter at Its last session In Cincinnati, and nad
recommended that road should be built along the
line oil the thirtyfth parallel from the Pacific to the
Atlantic; but he counselled moderation and told the
gentlemen they were going too far when they asked
the national Legislature TO charter railroads through
whatever States they might think proper ~ was
right to construct roads through Massachusetts, Tell
nessee or Illinois The proposed line was antago-
mater, which 1s should Be cautiously touched.
Mr.. KIRKLAND Of Baltimore. favored the pro-
posed road, and thought that Senators and members
OF Congress should be urged 10 obtain aid from the
government with proper guarantees that fr should
not be Illegally squandered. He was opposed, how
Mr.. OPDYKE OF New York. opposed the entire
proposition as IL appeared. 1t did not define the
these lines OF roads. He understood that the propo
stion was to build q road from the MISSISSIPPI 70
the Atlantic, with double track for the ransporta
ton OF grain. road or this Kind was
mucn needed, but he was opposed TO government
subsidies to build it, If, however, company Of
gentlemen presented themselves with the means Of
building the road, Congress should grant the charter
ana allow II TO work out Its own salvation IN compe-
tliion with other lines. Tue country could not nave
too many lines OF transportation tor produce. which
ought to be reduced to the very lowest figure.
Mr.. CARRINGTos, OF Rlchmond, made a strong
quoted The report OF The engineer OF the Erie Canal
TO show that grain was transported fifty per cent
cheaper over IL than by any railroad.
Mr.. CHIITENDRS, OF New York, took grounds
against the proposed road and corrected several
wrong Impressions IN regard to the Manufacture OF
steel rails, which in his OPINION were yet q problem
OF the future In regard 10 the new projects OF rail-
roads and railroad bonds. with which the country
was threatened to be Hooded, he thought the body
should be very careful. The minds oi the people
were poisoned against these new railroad projects
ana in the opinion Of the speaker the body would
new subsidies Tor railroads
Pending the discussion the Board adjourned until
tomorrow at ten A. NJ
Railroads versus CanuIs-The Niagara Ship
Canal--.tInnifest Destiny Of CnnEda-Regu-
lution OF Railway Freight Charges-Discus-
sion of the National Bank Systen,-The Hard
Money Doctrine Rediviyus.
RICHMOND, Dec. ., 1859.
In the Board OF Trade this morning Mr.. MONROE,
OF Dubuque, had the door on the unfinished bust
ness OF yesterday, being the resolution for double
track railway from the centre OF the OF grain
and produce in the West to the Atlantic seaboard
lie showed that double track road twelve hundred
miles long, with trains starting every five minutes
having their thousand trans on the track, with
1fty-four thousand cars IN constant motion, three
hundred and sixty FIVE days in the year would have
a capacity of only fifteen ana three-quarter millions
OF tons each way while the Virginia water line.
double locks, aud used only three hundred days in
the year, would have capacity OF over sixteen
million tons each way. The whole subject then
LAID on the table by vote of 80 to 10.
The nineteenth proposition--a Niagara ship canal
was considered. resolution was offered by Mr.
Bagey, of Detroit urging upon Congress the necea-
sty OF constructing ship canal around Niagara
Fails. connecting lakes Erie and Ontario ana ap-
pointing committees to memorabilia Congress on
Uld nnS
asked TO give any money to the work. The resou-
ton was advocated by Messrs. Bagey, OF Detroit;
D0re, OF Cncago; Walton, OF wisconsin; Opdyke Of
New YORK, ana others They urged II as not only u
sectional but national necessity. The whole ship
ping OF the West, winch might be neolsd as navy
by the government some day, Is locked up where it
can never reaca the ocean, The cost, varIousiy estl-
mated as ranging from SIX to twelve. million
dollars, is nothing compared VITA the vital
lines Twelve thousand miles long, postructed
Be overcome FOR few million dollars. Sooner s Of
later Canada would OF her own choice be part Or
the United states, ana the commerce or this cala
| now TO dow through the st. Lawrence river would
then be gong through one Of our own rivers. Tne
except the Erie Canal, can only feceive vessels Wt:
10000 bushels OF grain, while larger portion Of the
| shipping on the lakes carry $4,000 bushels.
Mr.. DUPUY, OF Boston, said 1t must be evident to
| all that the relations OF Canada are soon TO be
changed; the movements in that Dominion clearly
| Indicate 1t. in view Of the important change he
thought delay IN the action on the subject al
visaDle.
movement In the past, looking TO the union OF
Canada with the United States and causes Oh the
Winnepeg war and other movements IN British
Columbia looking to tine same end. All this, he
thought rather strengthened the argument Tor Iir-
mediate action on this subject.
The resolution was defeated for the want OF two
thrd vote, and being RECONSTRUCTED was adopted ny
q vote oI--yeas A, nays u.
The seventeenth propostiOn-the regulation OF
railway freight chargcs-was then taken up. Mr..
RICHARDS. OF Chicago offered resolution asking
Congress TO fix the rate TO be charged for the trans.
pl5SgurerS
road IN the United states, the rate to be based on
q reasonable income from the money invested
In each. lie said that many railroads had fictitious
capitals OF several millions OF dollars, and upon this
the public was made TO pay interest. Railroads
were public Institutions and &c subjects for the
interference Q! the sw.making power. After oriel
opposition from Mr. Hastei, OF South Carolina the
The twentieth ana twenty first propositions refer
ring to the James River ana Kanawna Canal and
morrow. A resolution In favor Of establishing
meteorological observations to give warning OF
coming storms on the lakes and for tue benefit
OF commerce was referred to the Executive Council.
The discussion OF the National Bank system and
the means OF resumption or specie payments, was
animatlng and interesting. Tie only propositions
before the Board were general declaration from
Baltimore In favor Of removing the three hundred
million limitation on bank circulation and Boston
aliirmation OF the expediency OF resumption. This
elected, informally, the opinion Of ali sections OF
country. Mr. Ropes, OF Boston, champions New
England His favorlte condition for an extension OF
bank facilities is withdrawal OF United States
notes and the substitution Of bank circulation
specie payments in two years Mr. George opi is
or New York made an elaborate speech, but could
not satisfy himself that airy positive action In any
direction Is expedlent. He evidently shrank from
any measures Tor inc material contraction OF
the currency although he holds that is volume
exceeds that oil Great Britain In the proportion
or seventeen dollars to twelve per head OF popula-
ton. lie preferred mastery in activity the exist
Ing basis. Mr. S. B. Chittenden, OF New YORK. pro-
duced marked sensation By q severe arraignment
OF the Boutwell, policy Oh purchasing bonds not due
for thirteen years. while no provision Is made or
attempted 10 be made Tor the notes Of government
due on demand. The only definite proposition came
from an uneN pected quarter. A BRIEF out elaborate
memorial oil the 5t. Paul Chamber OF Commerce was
submitted by Mr. J. w. Taylor and very earnestly
supported. IL was unqualfcdiy Tor the resumption
or specie payments on the basis OF the goo com In
the possession OF the Secretary of the Treasury and
the proceeds or special god loan payable In gold
anu silver az four per cent IN MY years, the pro-