, 1881-01-01
Jaw Gould OF the rack.

to-day, that financial Crisis IS imminent,
Tor the reasons which the great hnancier
assigns are Illogical and childish, not to
say idiotic Cheap money and plenty OF
it is the panacea for financial strIngency,
and the fact that capitalists throughout
the country are now unlocking the doors
of their treasure vaults should create re-
ioicing rather than distrust. Cheap money
builds new railroads and inter-oceanic
canals, and these enterprises mean COM
petition and consequent diminution of
revenue TO the various lines Of roads con-
trolled by the great American autocrat.
Gould's plea that the original Pacific
railroad cannot find return freight for the
cars employed, is owing to the misman-
agement of its directors. Its freight and
passenger charges are not only exerbitant
but there has been gross discrimination
both in the rat IS Of local and through
freight and travel Of late there has been
a sharp advance in the price of Pacific
2udll bt'Ch III AdSiCih uiaA tsJ
caused solely by the increased freight and
passenger traffic which seeks the Pacific
coast, annd return by way of Panama and
Asp,nwall Of his structures on the
Southern Pacific it viii be enough to say
that its stock commands fancy price in
mone:ery circles, and that it promises TO
be the most profitable of all the trans
continental lines south of the Northern
Pacific track.
Gould's hostility to the Northern Paci-
fc is based on the fact that the construc-
tion of this road wall interfere with and
greatly disarrange his own plans. He
has for years been trying to head of the
Northern Pacific by building the Utah
and Northern, which leaves Ogden en-
route for Helena, in Montana, and which
is now Completed to Blackfoot. in South
ern Idahe, where it is likely to stop, TIL
science has invented Some means Of re-
moving the mountains, which must
be crossed before the enterprise is COM
ple:ed 1t has in fact been Jay GoulA's
great ambition to include the Great north
west IN the territory tributary to the rail-
roads controlled by him it Is creditable
10 his genius that he has long appreciated
our commercial Importance, and his
mighty intellect has outlined a railroad
system intended 10 embrace all portions
of this interior aud bring them under his
own dominion Therefore. when Gould
SAYS that there is 10 excuse for the con-
struction Of the Northern Pacific during
this generation We naturally infer that he
Is not a disInterested party, especially
when his opinion conflicts with that Of
the secretary of the interior department,
who incidentally calls the attention If
congress to the fact that the character of
The lands granted 10 the Northern Pacific
are much above the average of those
granted the other Pacific railroad compa-
MES.
And Gould's objections 10 the North
ern Pacific on account of the altitude of
the Rocky mountains are knocked ON the
head by the discovery of Priests Pass,
recently traversed by Gen. Andersen,
which will save the company many miles
Of the cos:liest road building The great
effort OF the grea, railroad autocrat to
bear" Northern Pacific railroad stock
will be unsuccessful. for the company has
lately ioatsd $40, ,0o0, 900 in SIX per cent
gold bonds, win 40 Years 10 run, the
whole Of which xas readily taken, the
bonds 10 he issued only a. The road il
,aunlete6 and accented by The govern