The daily gazette., 1875-10-05

RAILROAD BUILDING AND ITS EFFEcTs.
1t is argued that the tremendous efforts
made in railroad building during FIVE
years, and the cessation in this work in
1873. caused by the panic. has much to
do with our present prostration in trade.
The work had been oyerdone-we had
gone beyond our means of paying. hop
ing to reach situation from which re-
turns would be received, but failed; then
came the crash. What was effected in
those five years is well shown up in the
following; which it may be encouraging
to read
"ln i've years. from 1869 to 1873 inclu.
sive, %, ,42s miles of railway were con-
sructed In this country at a nominal
cost OF 81 400 Ooo, 600 to 81 SOC, 900 900, but
at an actual cash cost of probably ST .05O.
100000. Now, in the CONSTRUCTION III
railways, at an average weight of fifty
pounds to the yard, there would be re-
qulred about 7St tons of iron per mile.
or an average of 446,273 per annum for
the i've years. AT an average cost of $50
per ton, which Is low estimate. fine
cost of railroad iron alone was 4.7l0 ner
mile, or S26,77o,000 per annum. Add to
tnls engines and cars, fish plates, spikes.
Ties, etc, and labor, and the aggregate.
at t4o'o0o per mile, Is 1927 400 900 per an
mum. Deduct from this FOREIGN imnort.
ations. say SIC, ,000, 900. and wo have a net
resnlt OF Sl5G .400. 900 per annum furnish.
ed to home industry by the railway en-
terprlse OF the period. The effect of a
sudden and complete stoppage of this
demand upon the manufacturing indus.
Try OF the country. and upon the skilled
labor employed in bridging and mason
~ and the uhskilled in grading, ditch
lnG, &c, can only be realized by those
VINO nave suffered under the stagnation
oL the two years which have followed
the crisis of 1873 1t has struck every
department of trade, and reached every
directly. VI liz
Individual suffering Is the necessary
consequence. Excess has brought it's
legitimate results, but the product of
thsse feverish years remains in 2S, ,42s
miles OF new railway for travel and
transportation, and thousands of SQUARE
mics opened up TO civilization and
progress ls 1t reasonable 10 suppose
Lhat with these great additions to the
lhteTnal machinery, tho power and
wealth of the nation, we are to rest
long In idleness? Our resources are
immense as before and the means have
been provided in a hurricane of ex
citement, to make them more available
now long will such a people sleer
with these palpable facts before them,
Forever, 1t might be supposed, from
the dismal croakings of those who
nave never before witnessed the effects
OF panic; bnt men who have seen
aaversity in exactly such shape in for.
mer years, IN 1895, 1845 and 1867, know
oy experience that recovery Is math.
ematlcal certainty, and that the
duration of relapse is only to be
measured by the severity of the dis.
order. If in 1876, the restoration ie
put partial, it will be more complete in
the following year. 1t is almost az
certain as the food tide which follows
an ebb: In five years the events Of
4s73 Will be remembered only as we
now look back to 1867, and while won.
derfng at our past follies, we shall
gratefully accept results which give ms
extraordinary facilities of communica,
zion. Gloomy views of the future In
this country can only be entertained
by diseased minds.