, 1869-07-24

naming Il FneLneF - GU acres per mile, IN sd
ton to the income Of great continental highway
VIII not justify the immediate construction OF
railroad west sc Pugeth Sound, and to Portland
| In 0rtgou-
We have lately been farored With the atasmatts
testimony Of THE CHICAGO TRIBUNE on tits point
and few Intelligent minds viii dissent from th
conclusion. Yet allow me to express regre
II tho Opportunity shnil be loat to III
nation to become party to the cor
ftrncttou, the regulation and tn
| pro1ts Of q. great iruns fine from Lakes Mich
gan and Superior to PnReta Sound. State afte
State has indicated all control Of railroads an
direct participation IN thelr income The Unite
States watTed a former securlty for advances +
the Union Paclno Eatlroad, md has failed 10 re
serve my efficient check upon Its policy; All
while Europe and India hare psov1dcntjally mad
their raiixaya a future resource OF revenue, thLs
country, and EnEland aiso hare neglected to &c
cure any subordinaton Of railroad lines to the re
lief Of the public treasury. We growl and cIamo
orer our errors and omissions IN respect TO the
Central Paci1c Inc, but It may not be too late Il
fepslr them BY new polLcy-by The inauguration
Of national sJstem-ou the lines Of Northern
md Southern Pacific Railways.
Perhaps can hes. illustrate the subject BY re
peatlng the experience OF Brtii4h India. F1fleer
years ago India WIS Without rnlrouls. Theh
yA1e, Tor military purposes, WIS demonstrates
during the Great Mutipy; and, for the production
ot COTTON oanng toe American clfA war; aud
sso'o ml'es awe pee1 oonsttuetedt most!y "'tnln
ten Jea.s, under tho following geRu!suons:
]. The Province Of India guarantees an income
OF FER cent to stockholders
2. All sums received BY too companies nom the
opcsntion Of the roads arc paid 10 government
commissioners, who credit and discharge curreni
expenses, aud apply the residue to the payment oi
the interest or dtrtdcn{}s Of 8 ner cent
s. II surplus Is st'l! available half ot Is up.
Piled 10 afrcaU Of Interest, tho remaining hall
to be giyen TO tho Shareholders, or the wnole
Ft'tn. when Inc ADVANCES Of goreHltncns arc fullJ
reimbursed. ......... ......
4. Government mails. 10 bo Carried FREQ oi
c1aIKc, and troops and btoFca 1t reduced rates
Government 70 supervise tue construction
aho expenditure OF too 1uaAs, anu regulate thelE
tsn1 anu ean'lmstfatioh.
T. Alter '~eutJ-h'o 5cass eofesnoeht ma3 pas:
caase 'no enl1e ptppesJo " aaS companF' ~
ps1cc 70 10 dcterml"e.i h5 tho market value Of lss
s'ock uu!pR FtcecolaH pes'o" OF snree years !;
LUZ oh lAc oIncR Ahh"' lug co'apan! NAY require
tao aoRo'esn!heHs' aver saa"af aas been opea 'of
'assc uaontua' pa'eaaso 81 aesua! cost-
'. AlNF Ane 'aPso OF A'ae13+uano years. tno
lanast "o1ks ana I'll properly ol tao COMPANY
shail 'e safseadetea W thc government
III shehe tcrms, the tos.l amount Of capltai H.
AMOUNT the government liability had ceased It
that date upon c41,sad 90, the Eoals conSlruc'cd
Hath thc lnitcf eofn not oalJ paying uivtttthds Of
per cent TO inc ssoclhodtrss hut suFplua for
reimbursement OF psefsona ADVANCED Tho charge
upon the PROVINCIAL TEcaslEy IN lse' was only
iGoo.eoo' Fonr thousand u!!!es Of railroad have
thus been assuftu to 1nAta. and 10 Wisely nt1 tbs
SECURITIES adjusted that thla Immense boon 10 the
people *!ll not " a1tehueh pS peftnaneat burden
fIS r If hA
next century, #lA aaeqna{c iof sae payment or
lie public debt ...,
No less suggestive ts thr raNfiad po1lc5 Of Con-
nhcnta1 hnFope. FRANCE nne, during the last ten
years, e1tehdta guarantee OF Ats
Fer eent upon seoo,foe,to Of tho
caritnl stock u Enlfoaa companies; and,
tn addition to the repayment Of ull advances on
thfs account from current receipts, the gotern-
meat, inter fJ years. will divide the net receipts
Win the companies. Willie, AZ the expiration Of
nluety-nlne cars from l565 tbs railways will be-
come the property Of the STATE. The internal rev.
enIe In 1s6a, fsom the Ststs R1llwa5 Of Belgium,
vas 50, hV,soa, and this Income vtu psooably he
kuGe!ent ln LISA TO discharge tho Interest OF the
Nelsian debt Similar Ia The experience OF Prus-
sla anu othef Gtrnau States IsuAila KEEPS the
railway finances separate fron tho gcaeyal bud
Eel; andr while the Latter Is b. no neans In sat-
siaetes5 condition, 5et the Empire can reaiiiy
,ou. nahd hhhons upon millions on specific
pieuge OF cieals tased on Fauwa! receipts. und,
1lth tue aid Of these secur1es viii noubt1ces pQsh
ne Russian Ines before 1sso to the troattess OF
ludla md through Southern Siberia to peAiu. A
aSge portion OF tho Paeiie deot OF Spain, Italy and
Austria EiA be e1ttnguishrd ly sinking 1unls tul
1osed Oh railroads built by the nt1 Of government
:'calt. --..
Tie Centxa! Pacific Railroad tsbe5oud the reach
u similar fesulaaoo. bni II Is possleie for Con-
sress TO establish relations 70 the Northern Pa
5ec Ra.iEoad Company aud to the Atl1n,!c /
Pacific Railroad Company, which, 81 a con'liuoa
II government ald TO Pacific Railroad system,
Eli 80 marshal securities, SO direct the sales OF
andS uow vested under furMeF grants, and 50 r.
'nme control Of administration As 10 preycus any
n Nrn:anent increase Of the pnbltc deb:,
'eclaim for the discharge Of present ua-
''lities a considerable portion Of ratiwaJ
ecelpus and afford In The contingencies
u the future conservative restraint upon those
oweTiul corporations Organized under State au-
hortt!, which threaten to orersha1ow the land.
10 personal agency would be more appropriale
or this purpose than the Intervention Of the nnsu
.ief ho aided The government SO uatertai)y dur
NJ the war, nnd whose name Is nov Identified
siih the enterprise Of 4 Northern Pncidc Rail.
Dad.
A lew words in reiatiou to the Atlantic L Pacific
ta,'rua,l Congres-, byGct OF July q. tsso, tncor
lufHIEu lQt3 CCuJH8UJs QCauluV 11H FQEfE t{0m |
'prss gueli, Missouri, sonthwest to the Canadian
titer, and thence BY tie ssh parallel through A.
uguerque and the AHu4 Frfa Pass to the pacltc !
}cean. with ~ Eastern Branch from the junction |
With Canada Iuycr 10 yan Buren, on TIN vr.t |
IN boundary Of Astansaa. and a West.n,
lranch from The csosslng OF the Colorado R,,ert, |
m Francisco. The oct inclutt4 the extraonJl.
AT grant pr forty sections per nile Of nnhlIc
snda in tho Ter1.touea, and txentt srct,on, nv
tn!zei. and. IL 1 branch wes e1ten,tet, IN Mr..
nat In Eas,e.u Texaz. liz trunt s,,d hr.neh lime.
rouId connect the Southern States nnd ,r-,-i.
,r.ca moat sdyauts1eou,ly with tia pnr,nc
cast.
Ia It net nossfbfe n n1see thrxe ,acisr p,ur,r
Northern and southern. aantino. Al interval. =,
u dca1cca Of latitude. i'm linz wh,cn oths--,s.
~ bscome a tnost fniur1ons roononn,v-,n 49, ~.
,rur to government nos unlltc ,,st rx,aft,r ts.
Eecu Tho proy,nce ANA iha ra,1roads n fn',t.,
ne btll proposed LIT Iln.er b1 the selsr. Is,,n.
,,,iac fthe senatc. xt,n somr ,r1i.5on vorkJr,
n 10 nsttonayIxe onr Pae1nc Raitvny l.et.,s,tnn,
,rn, cfle The c,a M OF nj aec,lon, srrrdtIT d.'
elopo The TelTtrp,,es INTO ssronk nd uro,psrou1
,a.t l. constitute safety -valye sxainat ra,,1osd
monopoly, aud accumulatc 4 maser,ai nd to the
ea,nh;.., ~ ,,n,n ~. I I.a,, A. w.una.
~ ~ rsJso .,.,r.a t n.s ~ -. -" ,"a 0eo
~ ~ s1,r..arsa, @ Hn...n,ss ~. ~ a, 10 ss.e
~ ~, ,.,nn, ~ ths Sa~,he,n ,....aa ps,,.ea,
,..ns VI ;ns ,ns 1nrtn Hs ~ .,iaa aaso
.. = ~ .ae ~ .s a ., ,
lne rrotisson tot the lines Of the Southern r4-
no Ho.d.
: utree. .he .a,e,, under tue supervision Of tho
n7eEnnent, Of the landa granted 10 both ccmps-
|es-an eERTeV1le uf about In, ,ooo, ,eW aerea-
1th dfss lien upou the pytnsp Or the r1Ads IN
,sss,,o,. -. ~ r...,,as. r. ~. .oao. ~
"'aoa ~ W. " .ae AHas- Aoa ~
Eofsas alnHoG tpna 'of NE principal Ct tho
linda
This ,,nrsrrnapt s,us+rntaA ~ lr...-.A -