The daily Argus. (Rock Island, Ill.) 1873-1877, 1875-03-19
From the Railroad Gazette.
A Chance to Make q Fortune.

The Heunepin Canal, bill providing
for the construction of which congress has
failed to pass, would, we are assured by
the advocates of that project, save ten
cents bushel on all the grain shipped
eastward from points west of the Missis-
sippi, aud on good deal of that marketed
on this side OF that stream, while the canal
will cost only four millions. Now, the ad-
vocates of this canal estimate the quantity
of grain whose carriage would be so cheap
ened at 60,000.000 bushels, and increasing
yearly; thus the saving by the canal
would be $6,000,000 yearly. Indeed, a
western newspaper says that the senate
committee on transportation and other in
vestigators have pr0Ued that the saving
each year would be many millions more
than the entire cost of the work. "
Now under these circumstances we
think we should congratulate the project
ors of this canal and other advocates of it
that congress has neglected to make it a
government work. Nothing now prevents
them from forming company, completing
and working the canal on their own ae-
count, aud making enormous profits while
giving great relief to the western grain
growers. For this is no formidable affair
COUNTING up into the hundreds of millions,
like the projected canals through the Allie
ghenies, for which, we are told, the ma
tional resources alone would suffice. 1t is
little line, less than hundred miles
long including feeder, and, we are assured,
will cost only four millions. Now what a
trife is four millions in works of this kind.
In this very state of Illinois Just about
$30000O,O00 has been expended on rail-
roads, and probably one-third of this
amount within the past five OF six years
certainly since the war. The cost of the
work is no obstacle to its execution by a
corporation. A dollar and half apiece
from each ofthe inhabitants of Illinois would
supply the four millions or, if Illinois is
not all interested in it, then dollar apiece
from those people west OF and adjoining
the Mississippi on the east. whose grain,
we are assured, would be carried for ten
cents "a bushel less than now, would supply
the whole sum. And, ii the company will
prOre that their canal can make such a
saving, they need not raise more than a
quarter OF the money by stock they can
borrow the rest in the money markets
with the greatest ease-neyer easier than
now-and thentheir own profits will be
very much greater We will estimate the
returns Of this promising project, but in
stead ol giving the inll hgures of the ad-
vocates Of the canal We will leave large
margin for their possible errors. Instead
OF 6O,OOO,O00 bushels to be carried, we will
say 50,0OO,O00; instead OF saving of ten
ceEts bushel we will say eight cents.
Now we propose that our company give
the farmer three.iourths of the saving in
the cost of transportion, or six cents per
bushel. reserving for itself but two cents.
Then its income from the $4,000 900 bush
els of grain will be the modest sum of
$l,O0O,OOO This wilfb rs per cent, upon
the investment, it is true; but as advoca-
Gates of government improvements are
usually fond of large profits, and especial
ly as such benefactors of western farmers
would certainly deserve them, we propose
that the stockholders, among whom of
course we will find all the advocates Of the
plan who have money enough to buy o