The Daily Astorian. [volume] (Astoria, Or.) 1876-1883, 1883-09-11
ASTORIA, OREGON:
TUESDAY. AY..................sEPTEMBER II, 1888
Continued from LIST PGae.

anO NidOS III d SOunOlN NLlCu
emerged but fifteen years from a
civil war-whose sacrifices of able
bodied producers and OF accumu-
lated wealth had never been
eq ualed-appalled its creditors by
paying its debts. and impoverished
Its lenders BY the reduction Of in
terest they submitted to, to es-
cape the payment of the principal.
Just and well tried confidence in
the character no less than in the
ability Of the sponsors for the ulti-
mate outcome of the outlay
mean Of the eminent men who
have conducted and are conduct
ing the affairs of this company
has formed the controlling, the
unfailing, the Indispensable ele-
ment in that faith among men
which has supplied the means for
this completed structure. To you,
Mr. Willard, and TO you, Governor
Smith, to you, Mr.. Billings, and
all the other presidents, present or
absent; to you, and all others who
have felt your arms lean on them
for support, this day crowns your
labors. and we, your fellow citi-
zens, and these foreign guests, ap-
plaud your triumph.
! cannot stay your train to un-
fold the manifold qualities in the
management of this enterprise,
which deserves illustration, but /
may insist for a moment upon a
few principal traits. / cannot
discover that there has ever been
engrafted upon this enterprise any
construction company to suck the
prosperity that belongs TO the or
iginal growth. | do not perceive
that excessive rates, either of in
terest for money or of payment for
labor or materials for want of
money, have imposed upon the
enterprise burdens disproportion-
ate 10 the values which its de-
bentures or its stock fairly repre-
sent. / do not find any just
ground for complaint in political
or popular estimate that the Uni
ted States has burdened its reve-
nues with subsidies which, for the
public interest, were unnecessary
or excessive, for from the begin
ming to the end the enterprise has
not received 4 dollar from the
public funds. ! find no faiI
ground for cavil at the land grants
of the government along the route,
as improvident or showing no ad-
equate return of value either tC
the treasury or to cxpectant set
tiers on the public domain. Ever
if we look at the government il
the mere light of a private pro.
prietor, who will not him self incal
the expenses and the risks ot
opening communication between
his unpeopled wilderness and tho
land seeking population, we find
the government without a dolla
of outlay, made more than whole
for the lands it has parted with by
the enhanced selling value of it
whole domain. But when we con
slider that the future settlers ol
the company's lands, as well as il
the reserved public lands, ,foreve
contribute TO the taxpaying wealtl
of the people, and the strength anC
power Of the nation, we see tina
there is no sensible analogy be
tween the interest of a privat
person in the ownership of land
and that Of the government as a
administrator, for the general wei
fare of the public domain. AnC
finally, the settlers who will follow
your track, and at once find thei
frugal means and farm product
at no disadvantage from distanc
or isolation from market; but on
level with all the world, will easil
understand that but for the wis
hberallty OF the government In tn
matter Of railroad communication
either the lands would have n
manned inaccessible to agriculture
settlers, or would not have bee
worth their acceptance, as a gift
with 4 bounty besides.
The Northern Pacific railroa
thus completed has, Mr.. Pres
dent, through your seasonable an
successful connection of its syster
with the well developed and full
operating scheme of the Orego
Railway and Navigation system
by the firm ties of justice and il
terest, been secured against v
cissitudes and disasters to whicl
with less prudence and less goo