River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1878-11-28
TheNorthern Pacific Railroad
lChicaco Tribune Editorial.


The Texas Pacific lobby, in it's recen
gathering In this city, in its resolution to asl
aid from Congress, coupled the Northern
Pacific with the Texas-a gratuitous perform
ance, for the n, rthern Pacific put in no ap
pearance to ask for any such action. Tn,
LOBBY evidently thought that if they coatet
over their pill with something that reall,
had sweetness, the public and Congress woult
swallow it. But the two enterprises are to
| tally unlike.
! Inc Texas Pacific has a vast laud-orant
| and now it asks for money; while the North
ern Pacific only asks for brief extension oil
time, and not dollar of money or bonds.
| Diminishing the Texas Pacific, let us ex.
amino the position of the Northern Pacific
which has in operation 450 miles between
Duluth, on Lake Superior, and St. Paul on
the Mississippi and Bismarck, on the Mis-
souri,, IN the heart of Dakota, and los miles
betwern the Columbia river and Puget
Sound. Up to 1873 the company was not in
fault but the failure of Jay Cooke forced il
into banruptcy. It had issued $29,II9 0nO
in bonds: it had a floating debt of about
81 00n,000, In the foreclosure. made in
1875, the coupons were capitalized, up to
bonds were changed INTO stock. and COUPONS
| and bonds alike made exchancebie tor land.
During the present year about 900 600
| acres. at an average value of $3.50 per acre,
| have been taken by the holders of the stock.
From the outset the company has dealt
fairly and sqnareIy with its creditors and
stockholders, and since the for closure the
road has been managed with such economy.
and the development of business has been so
rapid, that the net earnings Inst wear
amounted to $582000, and the company, not
owing dollar, has resolved to go on with
the construction, and has advertised for
proposals for the building of the section be.
tween the Missouri and the Yellowstone next
year.
AT the last session of Congress the com
pany asked simply for an extension of time
to complete the construction, and two bills
were reported, -one in the Senate and one in
the House. The House committee then re-
ported:
Thirteen years ago grant of land was made
by Congress for the construction of the road.
Its route lies for much of the way through a
fertile country. rich in all the ply steal cbarac-
teristlcs necessary for he support of vast and
prosperous population. It's grades are easier
than on most of the Eastern States settlers
have preceded it in faith of ITS construction.
end prosperous territories all along its route
waiting for the additional popu
lation which its completion would
speedily bring to claim their places among the
States. The committee are of the opinion that
due regard 10 the interests of t1ese terri
tories, and Of the hardy pioneers who have set
tied them, demands liberal action on the part
of Congress to mplete this road. to which in
u measure the public fai h is pledged; that the
lands originally granted for it are held for the
Deneiii of those settlers; and that, even it,
rictjSSt7tj jttIfs, advantage mig 1t be taken of
he failure to meet the requirements of the
cL arter in point of time, STILL good policy, if
not good faith, requires the waiver of that adj
vantage and reasonable extension of time to
secure the accomplishment of this great
national work.
The bill accompanying this favorable re-
port had a rider put upon it. The company,
by change of location, proposed to surren-
der 100000 acres of land, whereupon the
people of Oregon, in the interest of the
Union and Central Pacific roads, asked that
those lands might be granted to a road run
ming through the Columbia valley to Ogden.
The Northern Pacific naturally objected to
any such arrangement.
The Senate bill was made especially Oh
noxious by Senator Mitchell, of Oregon, by
the putting in of a clause compelling the
company TO construct their road on the
south side of the Columbia, which could
only be done at cost of several millions
more than ON the northern bank, and also 10
construct twenty five miles per annum in the
Columbia valley, with most obnoxious terms
in regard to lands.
Now the company naturally and rightfuily
protest against any such riders being put
upon them. They ask not a dollar of
money, nor for any privileges other than
those in the original grant. Time is their
only request.
The opening Of the road to the Missouri
has already saved the government large
amount of money in the transmission of
military supplies and transportation of
troops 1t has been of immense value to
the public. The present year over l, 20O0O0
acres of the public lands contiguous to the
Northern Pacific have been entered in the
land offices by settlers. If it had not been
for the construction of the line, the entire
region, now one of the most valuable agri-
cultural sections of the continent, would
have been a solitude. In view of what the
company has done and what it proposes &c
do, 1t should not be coupled with any Other
enterprise, but should be dealt with on its
merits, literally. fairly and promptly by Con
gress during the forthcoming session.