, 1873-07-10

has only changed its theatres Of action, nn,
taken a wider rangc that not only includes nIoxi
90 and tho South American Republics, but ncar
hll parts Of the Far East. Countries 80 old Ii
,their forlna Of civilization that they hav,
!baen dropped ont Of the fragmcutary account
the evc OF being awakened from their long gleei
NY tho locomotive whist1o.
The nearost points Of interost IN this world
wide extension Of railroads are stlf, however, it
our own Far-WoBtorn Territories.
Denver. Colorado, ts rapidly becoming tlc cen.
ire of railroad syBtom composed entirely OF mar.
row-gauge lines. Eight independent raroad.
.havo already made 1t their torminuB-the kanBas
Pacific and tho Denver Pacific, both OF which
aro broad:gauge lines, tho Colorado Contral tho
fDoulder Valley, tho Denver d lilo drando, tho
Ut. Joseph d Denver, tho Leayenwor!h l. Don
yer, and the Donver & JulSabnrg, all Of = nh which
the Donver pacifc, tho Colorado Central, tho
Boulder Valley, aud the Denver j Rio Grande
Railroads are now in operation, md the remain-
der arc undergoing construction.
Tho main artery Of the railroad sgstem OF Don
vor is the Denyer i lilo Grande narrow-gauge
railroad, which ie pushing it's way southwark
'ulong tic valley Of the Bio urando, and contem-
plates transferring to Denver tho trade Of tho
mining territory lying east Of the Rocky Noun
of Mexico, at which plnco it proposes to connect
with the Tora Cruz Hhilrond. Tho construction
Of this railroad from Denver was commenced in
March, 1971, and completed to Pueblo, Its prof.
ent southern torminus-a Distance OF liz mie8
by Juno, 1872, aud it now carries On lucrative
bus'noss With tho intervening country. Gen,
IRoHocraua, who has been in Mexico for the last
Two years endeavoring to get . bill through tho
No1ican Congress- for grant Of land and = large
subsidy Of money In behalf Of tue proposed mar
row-gaugo road from tho City OF Alcxico north
ward, to meet tho road bulnB oxt0nded from
Denver southwark, failed at tho list session Of
Congress, ewing to tho opposition Of what is
gauge limo to oxtond from tho City Of Mexico
northeastward to Austin, Texas, and there com
nect with tho aya1em of railroads IN the United
states. Il 6eems quite certain tho Plumb
Railroad :" will bo built, and it is not improbable
That at another eosston o3 the Mexican Congress-
aosecrauB may succeed.
Notwithstanding tho two continental rail-
1; 5oada now building, the Northern Pacific aud tho
Lex aesaa .hpaeta. hractlc. to gay nothing Of , tho
ono is now projected from Ban Diego,
Calitornin, to Afatagorda Bay, in Texas. The
preliminary survey of tho route is from San
Diego to Fort Yuma, on the Colorado River, vim
Altar and duyamas to tho City OF Chihuahua, in
and along the lilo 1rando, crossing It at tho
mouth Of tho pecos, and from thence via st..
Antonio to Matagorda Bay, on the Gulf Of Nlo1i-
20. Tho San Diego & Matagorda Company pro-
or land 0''''' '''~N '@''''
Turning now to the Old World, wo find the
three great railroad projects brought into public
u Persia, viz. the DoLessepH project,
which eontomp1atos tho building Of 1880 to
2,400 mileH Of road from Oreuburg, in R,,sBia,
to Peshawar. in India; the EuphrateH Valley
project, and tho moro reoont De Reuter- projects
IN Porsia. In England q proposal omanating
from the Government is made to China which
offors free gift of rolling stock sufficient to
equip ton miles OF road if the Emperor OF China
will authorize the construction OF that extent Of
road III connection with some one OF tho great
ports Of his do1ninionB.
Still further East We find TINT Prince Kiyonari
9oshfda OF 1apan has just returned from Lon
don, where he has negotiated tho bondB OF his
government to the amount OF E2,5 500. 600 at 2
per cont interest, tho proceeds to 10 partly do.
voted to tho completion aud equipment OF tho
Yoddo aud Osaka Railroad.
Thus within foW yearH tho locomotive bids
fair to make its way from the west eastward
through syrin, Persin, Central ABin, China, and
japan to the paciio, while our roads are being
pushed from east to weBt to tho opposite shores
Of tho sams ocean.
Tha mileage Of projected roads il much greater
md indicatea probable demand for all the ma
:erih1s used i'll their construction greater by far,
Turing the ncxt five years than has ever been
experienced before. 1he prospect il full Of
PARTICULARLY in respect OF her iron ntorcsts. Tbs
ron-masters Of tho United Btates may not bec ecalod
N to furnish rails, eugines, and cars for tho
alstant roads in Asia, but the supply which theAo
NHill draw from Europe will leave mons to como
from England to+se United States. Tho rolling
mills and workshops OF tho United States viii
have to furnish what ars used on American
roads, and possibly also o portion for South
America and China.
In view OF these prospects WAS tlloro over any
thing moro stupid than the rocent resolution OF
the National Pig-1ron Association st Cleveland,
to tho effect that it, III the present condition Of
tho iron trado it il desirable that the produce
tion Of metal should be cu,failed?
THE PROPOSED INcnEAsK OF AAuK OF ENGLAND
NOTES.
The bill introduced in Parliament for tho in
croasc Of Bank Of England notes In seasons Of
bs sss7 sna Itt ho as + % 4ea ord
:Loquor, aftor communication with tho
bank, arc satisfied that tho minimum
rate of interest then being charged by tho
not less than IL por cent, that the foreign ex-
changes arc favorable to this country, and that
largo portion Of tho existing circulation ii
aercd ineffective for it's ordinary purpose by
issue department: Of tho bank to mako, in e1cess
Of the authorized Issue, special and temporary
Issue OF notes, In exchange for an equal amount |
Of Government securities, aud that tho bank |
shall pay to tho Government tho profit Of sueh |
issue, which ia in no case to DO leHs than Ia per
cent per annu1n, subject to deduction Of q por |
cent, which may be allowed to the bank for its |
expenses
It is believed TINT, oven II tho bill should pass
In its praAout FORM tho iase Of more circulation
by tho bank III hodgod around with no many pro- |
yiaos that tho exact condition Of tho money mar
ket md the exchanges will mover be such AZ to |
authorize tho issue Of tie notes, and that tho |
law would bo practically daad letter.
LOCAL BrooS AND AoND 1fAnKET.
Messra. Lunt, Preston i heau quote 90 fol-
lows this p. m.:
Uuyfng. Selling.
G20a OF '6?..................,.....l1 1l7t
64os Of '64.....-............... "a. ll7!j ll7tf |
b20s Of H5.. ...................l1B9f 11BH
Zoos Of ~, Jan. and Jniy. 1l71t |
t20s Of 81, Jan. and July, eI. tut. lib 1lax
6-9os Of 'ea Jan. and July. INK 118
lo-4Qs. ...................11SA 1l44
U. 3. 81 {nov issue) i16
Gold lfsh weiEht) Eht)..................l1b1 ll5X
1o!d Coupons. .........---.-.....llb2f 1l5H
aoid Exchange. 80. 1l63<