The daily intelligencer. [volume] (Seattle, Wash. Territory [i.e. Wash.]) 1876-1881, 1878-02-06
Wednesday, Teb'ry 8. 1873.
HOW 1T MIGHT BE DONE.

We notice that . railway sole -
shortly to take place in India-ths one
leading from Calcutta to Delhi. The
capita! stock of the road is thirty mil
lions Of dollars, the interest on which
at the rate Of FIVE per cent per annum
was guaranteed by the Government,
provided that the road should be sur
rendered to the Government 1t the face
OF its cost price when twenty-five years
from its completion should have ex-
pired, and that time 10 nearly ct hand.
The road has more traffic than ell the
other roads in Indis, and has paid divi-
dends ct the rate Of ssvsn pr cent Per
annum for the past fourteen years. In
its infancy it was largely indebted to
the Government for liberal advances;
but Of late years the institution has not
only been self-supporting. but has re-
paid ell the Government advanced it.
This il in striking contrastto American
railway ethics and morals.
Al there seems 70 be no immediate
hope of land grant for the Seattle and
walla Walla railroad. We suggest the
following plan to Dslsgate Jacobs !:
Draw . bill to provide that the Gov
eminent shall guarantee the interest at
seven per cent per annum on the bond
ed debt Of the Seattle and Walla Walls
rsilroad, provided that such bonds shall
not be issued for greater amount than
ten thousand dollars per mile; and that
1t the expiration Of the term Of twesty-
five years the road and ito rolling stock
shall be sold to the United States Gov
eminent ct its sctusl cost. if the Prssi.
dent and his Cabinet 20 desire. The
passage Of this bill would DO . certain
guarantee of the completion Of the
road. for European capitalists would
jump at the bonds when once the Gov.
eminent guaranteed the interest. In
twenty-five years the present stock
holders would be well enriched by the
profits Of the road. and il their heirs
got back from the Govsrnnsnt the hare
cost Of the rad. it would be . good
legacy in itself. This would be follow.
ing the line Of operations marked out in
the construction Of the Calcutta Delhi
railroad.
We regard the construction Of our
transmontane road ~ something Of .
military necessity. At no distant day
all the small Indian reservations in the
valley Of the Columbia will revert to
the public domain, and become subject
10 presumption and homestead entries.
while the Indians now living 0; them
will be removed to one grand reserve
in Stevens county. In view OF an In
dian outbreak troops could be brought
on steamers from San Francisco to
Seattle, and disembarksd ct Walls
Wslla inside Of Ave days from the time
they lett the Golden Gate. The trans.
portation Of supplies for these troops.
o. we'll as the supplies for the Indians
on that reservation lin cass no such out.
break should occur) could be sent this
way at lssst thirty per cent cheaper
than by way Of Portland. Nor do We
doubt If this plan WAS submitted to
General Sherman, that he wouh recon.
mend il a. the most practical measure
the Governr ent could adopt, and. ia
the long run. the most economical. The
cost of the Mes Perez and Mo1oc wars
would have built this road. and placed
the military division Of tho Pacific coast
on = very different footing from it,
present condition. Thsre b No room
for hesitation or delay. for tho session
Of Congress 10 nearly half gone. and Il
il plain that the road cannot b built
without some aid besides private oapi-
tai. Congress las hitherto add rail-
road construction BY guaranteeing the
interest on their bonds; but no read he's
yet been built In America on . proniss
Of surrender to the Government within
: time spsei6sd in ifs oesAnis Ct The
plan loSks perfectly feasible 70 n and
would b better for The people than .
donation Of the public lands. Il il nol