Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1870-06-10
The Northern Pacific Railroad

The bill which passed the House on the 9th,
having previously passed the Senate, is amsnd-
atory Of the original act Of July, 1868. prnviding
for the construction of the Northern Pacific Rail
road. It provides as follows: 1st. Tn u the
G mpany shall be authorized to issue its bonds
and secure the same by mortgage on all its prop
erty aud rights, its franchise included, the mort
gage to be filed with the Secretary of the Iuieri-
or. I'd. 1t shall have the right to locate its main
line to Puget Sound, ria the VALLEY Of the Culuni-
bia, and branch across the Cascade Mountains
to Puget Sound. 81. In case there be not in any
State or Territory in which any portion of its
lines may be located the amount of lands pro-
yided by law for the Road, the Company is au-
thorzed to make up the deficiency from lands in
such States or Territory outside and within ten
miles of the limits from which selections have
heretofore been authorized in the same, except
mineral and other lands. as excepted in the orig
inal charter. 4th. The IS miles between its
Western terminus and Portland shall be COM
pleted by January 1872. and at least 40 miles
annually thereait until all is finished. 5th
All lands not wholly disposed Of within five years
after the cnmpletion Of the Road, shall be subject
tU settlement and pre-emptnn at not to exceed
81 80 per acre. 9th. In case anv mnrigage on
any portion vt these lands be fnreclOsed, such
lands shall be sold at public auction within the
proper State or Territory, after not less than 60
DAYS notice, in single sections or subdivisions
7th. American iron or steel, manufactured from
American ore, shall be used in the construction
Of the Road. Sth. Congress NAV at any time
alter or amsnd this joint resolution, having due
regard to the rights of said company and any 9TH
er parties. .ttH+
The charter of the Company authorized the
construction of Road from some point on Lake
Superior tn Puget Snunh, with branch to Port
land, divergng from the main line not more than
3Oo miles east the present let so far mDdlfies
this as tn make point Of divergance optional
The Land office estimae' the aggregate OF the
lands originally granted at 47001, 900 acres
which, it is said, the present bill increases 10 co.
100000. strong point made against the amend
ed bill, is, that it authorizes all this property TO
be mOrtgaged before the Road is competed or
even commenced. But to this it is replied that
the right tp mortgage is necessary in order to
raise means tD build the Road. az this could ONLY
be zone on bonds secured nv such lien upon the
property and frauohises Of Inc COMPANY.
>, That there are some objectionable features in
the Concessions made to this Company. is mt to
De denied and ii is possible that the great end
sought,-the construction of the Road-might
be secured at less cost. But the vast import
snce to the country, of the early opening of that
line, fully justIfies verV liberal help. Il should
be borne in mind that lands thus granted are Of
very little present value, except in the view of
the construction of this Road. Without that
they must lie many, many years as useless as
they now are while with the advantages thus to
be cnn erred, not only these, but all other lands
on the route VIII soon become valuable, The
great national benefits to be derived from epen-
ing competing trans-eontiuental line, aui one
placing Us FIVE hundred miles nearer Japan, must
be apparent to alt. True the enterprising build
ers will probably make large profits on their iu-
vestmeHt and labOrs. but should they not? Are
we TO eIpe't capitalists To undertake such a
work, without the amplest assurance Of good re-
turnsH The subsidy thus granted the Northern,
is nothing like that which built the Central Road.
In the present case the government furnishes no
bonds, bnt only lands, most Of them now virtu-
ally yalueless. Snme say it had better be a
money subsidy. We doubt not the Company
would have preferred that, and Congress had the
choice. On the whole, we think the present po-
sition Of the enterprise is hopeful, and that the
country will justify the recent action of Congress
in its behalf.-T5leao Commercial.