The Portland daily press., 1877-06-30
Past, Present and Future Of Portland.

To the Editor Of the Press:
The announcement in your mornings issue
relative to the Portland and Ogdensburs Rail-
road that the Vermont division will be COM
pleted to the junction with the Burlington and
Lamoille Railroad.at Cambridge on Saturday,
and to Swanton on Tuesday, and that through
trains Will run to Burlington and Ogdensburg
the coming month, and on and after Modnay.
next three trains will enter the city daily
over this road should gladden. the hearts of all
who have been interested in this road, and up-
ON whom its construction has been q heavy
burden, and of all those who sincerely desire
the material prosperity of the CITY,
This completes the key to- the'grand arch of
Portland's public work and enterprise beginning
with the Atlantic s. st. Lawrence and ending
with the Portland & Ogdensburg. Her public
work will be consummated when the rails are
laid connecting Portland by the Portland g. Og-
densburg with the Lakes Nothing more can be
done of public character; everything that can
bring business to Portland will then be com.
peted. Let her merchants work together with
the energy and enterprise which has charac-
terized them in ithe past. Let concessions be
made in the present railroad troubles. and the
time hastens on when the business of Portland,
more particularly the export trade, will aston
ish the most sanguine of her friends.
Portland is four to six days nearer Europe by
sailing vessel than Baltimore, Philadelphia or
New York, an important consideration In ship
ping cargoes of -four, wheat and more especial
ly corn, in landing these cargoes sound. the
Pacific slope will yet contribute to the COM
merce of Portland. There are no long bays or
rivers to the ocean to delay vessels by contrary
winds: there is no necesstyto employ steam to
tow vessels to sea, but in one hour from
the wharves sailing vessels,and in ten minutes
steamships are out upon the broad Atlantic.
Portland has one oi the safest ports, and
are less that at any port of her business on the
Atlantic. There is no compulsory pilotage feed
to an hungry set of unprincpled men, who prey
upon commerce as in New York. Rates of
freight are less from Portland to Europe from
nine pence TO one shilling per quarter, on
wheat and corn, and in the same proportion
on oil and flour, than from every other port in
the country engaged in a foreign commerce,
and all for the good reason of small port
charges.
The energy and enterprise of Portland has
been wonderful, not a railroad has been built
into the city, with one exception Boston &
Maine) without her capital, and in most of
these enterprises Portland merchants and
capitalists have been the pioneers. Other
important enterprises have been consummated
of manufacturing, of ship building Of great
value to the city. One branch of commerce,
the very importont trade with South America
largely increasing the tonnage of the port, and
adding to the wealth of the city has been
inaugurated. Portland in point of tonnage
comparing with other cities in the United
States, ranks as the sixth If not the fifth.
Yet with all this outlay of capital, the
business of Portland rests to-day on a solid
substantialIbasis, notwithstanding the terrible
fire of 1866, and the fearful revulsion and
depression resting upon the country since 1873
The bank capital of Portland is intact with q
very large surplus ready for business, not
swallowed. up by large houses who
have failed as in some cities.
The Savings Banks of this city
with over eight, and near nine millions depos-
its, are solid as the granite hills of Sew Eng
land. They have been always well managed,
and are ready 10 loan, to encourage industry,
and promote the welfare Of the city. The city
finances have been improved, and city bonds
stand higher to-day than ever before, notwith-
standing the desperate attempt of croakers at
home, and enemies abroad to depreciate them.
The City Government have begun the good
work of retrenchment and reform, showing to
capitalists and business men that they can safe
ly come into the city, with the assurance they
will not be overburdened by taxation, but that
economy and reform have been insugurated in
the finances of the city, and will be carried out
to the end.
Let Portland awake to her present opportu-
nity and push on with untiring zeal and ener-
gy, for the commercial prize before and within
her grasp, and she will have decade of pros
perity, without parallel in her history. FL.
Portland, June 49, 1877.