The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1870-03-02
DAILY PRESS.
PORTLAND
Wednesday Morning, March Q, 1870.
Letter from the Northwest.

Letter from the Northwest.
Gfrom An Occasional Correspondent
MINNEAPOLIS, MINI,
Feb. II, 1870.
10 the Editor of the Press:
THE WEATHER.
The Peabody obsequies being over, perhaps
letter from this section may not entirely es-
cape the attention of such of your readers as
are interested in hearing from the New Eng
land of the West" Whenever there is scar
city of more interesting news, it always re-
mains to speak about the weather and business.
The former has been very pleasant and mild
during the past month, with sunny, cloudless
days, and almost entire freedom from storms.
The thermometer the last week nas ranged
from 20 degrees to 45 degrees above zero, and
the snow has melted rapidly in the streets,
causing them to assume the aspect they wear
in middle spring.
BUSINESS.
Business in this vicinity shares the duness
that is prevalent throughout the country. A
cause that contributes largely to its feeble
ness or, at least, interferes with its growth, is
the want of sufficient banking facilities. The
dual city of Minneapolis and st. Anthony,
whose manufactured products annually
amount to pore than five million dollars in
value, has less banking capital combined, than
| the smallest one of the numerous banks in
your city represents. Congress will, undoubt-
edly, pass some law the present session, under
which this deficiency can be supplied, and the
necessary wants Of rapidly developing coun-
try be satisfied. The depressed condition of
the wheat market has produced unprecedent-
ed hard times among the farming communi-
ties, which, also, operate heavily against trade,
and lessen the usual demand for lumber and
other products made here.
BUILDING OPERATIONS.
But, notwithstanding business inactivity,
building has progressed to considerable ex-
tent throughout the winter, and on all sides
preparations are being made for the erec-
tion of many mills, stores, residences, and pub
lie building the coming gseason--indicating that
the aggregate sum of building improvements
the present year, will be far in excess of the
amount expended in that direction the year
past.
NORTHERN PACIFIC RAILROAD.
A topic that excites considerable interest
among many, now, is the construction of the
Northern Pacific Railroad. This road, it will
be remembered, is projected from the head of
Lake Superior, through this State and the ter
ritories, to Puget's Sound, and, perhaps, some
point upon the Pacific coast. The nationalim-
portance attached 10 its opening, and the spe
1oivy f1,ofi hac fbo of
those Atlantic cities which wish to derive prac
ical benefit from its future operations, will war;
rant your correspondent in furnishing such
facts and opinions relative TO its franchise, con-
struction, and probable value, as may seem
well-grounded and useful. Despite the mag
nitude of the undertaking and the immense
outlay of capital involved, there is no reason
to distrust the ability of its projectors to push
forward their work to completion, without
the aid of national subsidy. Congress has
granted such privileges and land appropria-
tions as will constitute the company, in case
the road is built satisfactorily, the largest land
proprietors in the world, and amply secure
their grand scheme of national development
and individual enterprise.
ITS LAND GRANTS.
The land grants consists of every alternate
section of land on each side of the road from
Lake Superior to Puget's sound, sections
forty miles wide in this State, and eighty
miles in width through the territcries,-
amounting, in all, to $1,000 square miles,-an
area larger than the entire New England
States. IF this surface be reduced to acres,
and the balance, after rejecting reasonable
amount as worthless, be valued at $3.50 per
acre, it will show an appropriation of one
hundred million dollars,-a sum abundantly
sufficient to build and equip the entire line.
. PREPARATIONS FOR CONSTRUCTION.
> The well-known banking house of Jay
Cooke & Co. has undertaken the financial
management of its construction, and enough
funds are already pledged to build to the Red
River of the North. A few days since, the
first breaking Of ground for the road took
place, with appropriate ceremonies, at the
Da.les of the St. Louis river, and actual
building operations will begin with the open
ing of spring and be carried forward as fast
as possible. Six engineering parties are now
liminary to the location of the first sections.
Work will probably commence at that point
| near the st. Louis river, where the line may
intersect the projected Lake Superior and
Mississippi road, and follow in nearly direct
course west to the Red river, thereby securing
the shortest practicable route. No serious
impediment will be met in the process of
building across this State, and, indeed, the OBJ
stacles which stand in the way of building
and running the entire road are much less
than those which opposed the opening Of the
Central Pacific. The grades are easier and
fewer in number. There is good authority
for supposing that its course will lead, mainly,
upper branches of the Columbia river, with
only two SUBMITS of considerable magnitude
to pass, and one of these avoidable by tunnel
| ing. Little difficulty, also, can be apprehend-
ed from SHOWS, which form so great him
drance to travel in more central sections, as
repeated explorations in the winter between
the passes of the upper Columbia aud Mis-
souri, rivers reveal depth Of snow in those
regions rarely exceeding eighteen or twenty
| inches.
ITS RESULTS.
Its completion will open to settlement and
civilization broad belt of territory, stretch
ing more than halfway across our continent,
and cut by numerous rivers that are naviga-
BILE into remote parts. The country between
Lake Superior and the north bend of the
Missouri embraces some very fine timber
tracts and wheat lands that are unsurpassed.
| The portions of Montana and Idaho which
will be traversed, are fertile farming districts,
and regions rich in mineral resources. These
territories are open to no objection on ae-
count of severe winters, as the climatic lines,
after passing the eastern portion OF Lake Su-
perior, bend far away north, 30 that the eli
mate is as warm in the Missouri, Red, and
Assineboin valleys, as in the central part of
Minnesota. BY means of intersection with
the Red River, steam communication can he
had with Winnipeg and the vast territories of
the old Hudson Bay Company,-thus afford
ing opportunity to form more intimate and
profitable commercial relations with these
British provinces, and possibly producing, by
their annexation to our nation, such termi-
nation of their present revolutionary troubles
as shall be unsatisfactory to our friends across
I'm. D,4 T., oddifion to the wide ter