Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1881-05-06

that they reminded him of an "imaginar,
- with the fires put OUT Genera
Stanley, writing later from .,akota sal,
| it WAS only fit for Indians and mules, AN,
we all remember WhHL General lIazcl
wrote; that the lari west of the l00tl
meridian was absolutely unproluclivr
that there was no ram, ana that the Who'll,
| Northern Pacific belt was Il Swindlc. Hi
views were published in newspapers al
over the country and formulated in an ar
ticlc in the North American Review
And who will ever forget the speech O
! Hon. J. Proctor Knott on Duluth.
Now, with the want Of settlement in tho
region through which this road was {,
pass, with all the popular disbelief of it,
habitablcncsS, | wonder that any human
being could have supposed that Il railroad
could be constructed upon the basis of 4
land grant, and not inevitably 60 into
bankruptcy. Suppose the money is raiscC
| to build the road, you have to educate the
people into the belief that it is Il desirable
country to inliabit-you have to ret them
there, YOU have to create business. Mean
while the interest on the bonds represent
insAthc cost of construction is running or
the road is not even paying expenses at
first, and the result must he perfectly clear
In such cases there is only one cnd-it is
the end that came to the Northern Pacific
bankruptcy.
The land grant of the Northern Pacific
is said to he large, too large. | know ii
is large, but it could not save the road
from bankruptcy! Why, just take the
E'a',t III hiil!eSo'a ~ ahu pahota up 10
lhc ;'i,So',rl llNcr-Disiharch- '.n POM
reacheu Wllch 'he crash Oh 10 came, 4oo
miics-"lat mas IL ahounled 10 10 tllis
company Bear IN NINA tha' II includes
those best lands OF the whole grant-lhose
IN the ted river valiey-and lands in
Minnesota, state rapidly increasing IN
population and settlement When | an
swGr that question you VIII be startled.
Inc land grant up TO bismarck, so lar
from paying the cost OF that portion of the
road, will never pay one cent on its cost /!
why? because II took so much time to
bring those lands into market, and they
are sold at such rates, that they will not
more than suffice to pay the interest on
the cost up to the time when those divi-
sionS OF the road can take care OF them
selves.
When the company failed in the terrible
crash OF September, 1873, there were more
than thirty millions ot bonds outstanding.
The road had been built westward to Bis
marck, ON the Missouri river, something
over 450 miles, and there had been built
on the Paclhc side more than 100 miles
lhe ROAD putt had not cost tire entire
amount ot bonds outstanding. lhcy re-
presented more than million OF dollars
that had Deen expended III preliminary
surveys Ihey emt'raced commissions on
sales of nonos,a infge amount OF interest
!nat hau oeeh Paiu on the Dohos up 10
ihat time, ana very expensive terhihal
laclilties at DuI"lh. II ~ not necessary 10
hhaiyHc 'i!c ucp.' TOT 'hc pohunoioe's,
me lacl cNlsleu lilat tnerc was uept oi
Tou'ooV,Voo' luu tnesc pohuS Dore ihtercs.
III o-io goa. Whal woulo tnat interest
amount 10 from oeptehlper' 1919, 10 sep
lemDer' looo-se'eh years-Slo'ooo,ooo 10
Slo'o0o'ooo! 49,,
Al least one-third ol !he grant III MIN
nesoia ana Dakoli 10 the missouri river
mas mas Deer neeh solu, realizlhS say between 90
ooo,ooo anu %o,ooo'ooo' pul tlis amount mas
pecn reaiiHeo III 'Hc uePicT."'~i SECURITIES
"l lne company No'i'hS Ike 'iiS amount
couiu nave nec,i op!aiheu III GaSh. II Is
riGht 10 say Una. thls one-lhird mas nech
SOFA ior as much as VIII pe realiZed from
the rellialiiinS t"o''hiros, pecausc tiie pest
lands, ana those nearest the ROAD, nave
been taken.
neg your most careful cohslueralloh Oh
lhlS SuoJcc'. III SHOWS most cohciuslVrly
a, e'. ~ o,t,1 , "ma s ,I' hos bann N,nrrna
LonI;r~ nvor " fnr,,'n" 70 tbo S,ncthnIdnrr
i"t 40, ,,,, f"r Jnnn ,r on,',I,;n of ,Io E;rd
~ e,, ,a.dn on,t1, ;n:, nftia L;nI ,Tho
ro',;r a;n ,hrour,, uJ mi;nh III rn.J i; ,nnn
,rS,;nr has ~ await ,ha br;,J;nr of tho
rnnd Lornro oo,tiors Vii mn ;n,5 II II
,o,nhnd Disn,ar,L nm ,ho eN;ssn,,r; r;vnr
~ 1s-a nnd ,vhnn va ,i,is l'; nnmnnam,, oo,n
,nonccd ,vnrl in 1e-e r,ost,rnrI f,H,, Rs
,morcl, aoo miles tn ,ba Yn,,nly.,nnn % thcrc
wos nnt = sn,ilor On ,hot whoIn Jiv;sion
IVhon tho rond rnachn. ,hn V.,lnwS,nnn
,hnrn viii hn fnrnJ Lmt rnv settler, mil
we rct ;rto tho bcart of Nonton, AKA
niloS AWAY, Rut fnr tho nf,nr,s Inodo to
n',,,c,,o tho world Win rofnrerce tn II 70
cr otn immi~ro,;on 70 il to civi,izc if in
f,c = ,hrra would he M settlement there
for wears TO come, and, at best, the settle
mcnt does not come fast enough, if the
road is pushed with energy To take care of
IFS running cypcnscs and the interest on
thc cost of construction. WHY. even this
attractive Red river vallcv.which has
turned out 10 be such a bonanza in the
matter Of rich wheat ticlds-it was with
difficulty that ANYBODY could he persuaded
to 90 there. and | desire at this point to