Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1883-09-14
THE NORTHERN PACIFIC.

cd The road dates back Us far us 1885, in
which year Asa Whitney, New York mer-
chant, urged Congress to build railroad
from the great lakes to the mouth oil the ,oI-
umbia river but the National Legislature
did not look favorAbly on the plan After
various unsuccessful efforts, charter was
finally obtained in 1864 by Josiah Pcrhanl,
but he was unable to secure capital with |
which TO build the road ard in December,
1865. he sold the franchise 10 some New
Engatd capitalists. A new company was
formed of which Hon. John Gregory smith
of St. Albans was president and associated
with him were Mcssrs. j. Edgar Thompson
O! the Pennsylvania, Robert Burdell OF the
Erie, w. G. Fargo of the New York Central,
w. i. Ogden Of the Chicago and Northwest
ern, G. w. Cass of the Pittsburgh, Fort
Wayne and Chicago. But no progress to-
ward actual construction was made until JAY
Cooke assumed financial direction, obtained
legis lation authorizing the issue OF bones
inl pu. the bonds on the Amer
lean market, being proven ted by the
Franco-Gernan war from negotiating
them in Europe From t he spring of 1870
to the spring of 1872 he sold about $50, OOo,-
900 worth of bonds. Meanwhile work was
begun on the road in 1870 at Thompson
Junction tweuty-three miles west OF Duluth,
and also at Kalama on the Columbia
river. In 1871 the read was finished from
Thompson Junction TO the Red River oil the
Moth, and 1878 SAW it extended to BIS
marck, on the Missouri river, while by that
tine 1Oj miles had been finished between
the Columbia river and Puget sound, and the
terminal city Of Tacoma laid out.
Then came the crash of 1878. Jay Cooke
was ruined and tic road was paralyzed.
Gov. Smith resigned the presidency and was
succeeded succt ssivcly by G. W. Cass and
G. b. Wright. In 1915 "a reorganization was
effected the bondholders accepted preferred
stock in lieu of their bonds, the road was
hurried through the bankruptcy court, and
by 1879 it had paid off its floating debt and
was earning some net profits on the com
pletod portions. Credit for all this was large
/
Woodstock, who afterward became pIesi-
dent of the company. A thirty-mle road
was built from Tacoma to the Cascade
mountains coal beds Wheat culture was be-
gun in the Red river valley, aud settlers
liocked in rapidly. Work was carried for
ward at both ends of the route. And in 1880
President Billings secured funds for fillng the
zap in the track-more than 500 miles, across
Monrana-by loan of $40, 900, 900. Soon af-
Ter this Mr.. Willard obtained controlling share
of the stock, and under his management the
road has now been completed The main
line division of the Northern Pacific has an
aggregate mileage of 1880 miles and the
branches GA making total mileage of 2654
Further than this, the plans of the managers
include much more than the mere completion
of II trunk line stretching in distance two
| thirds across the country. The Northern
Pacific is but one factor in the development OF
territory comprising one-sxth Of the area of
the United States, and Mr.. Willard represents
| combination of not far from $500, 600 900 OF
capital, controlling three systems of rail-
roads and several supplementary and develop
ment companies. This undertaking is by tar
the largest commercial enterprise ever start
ed in the world Finally, it ought 10 be ad-
ded that the Northern Pacific was built with
out a dollars aid from the government be-
yond land grant of forty million acres,
which for some yearslafter it was given was
not considered of sufficient value TO engage
enough capital TO complete the road.
The ceremonies on Saturday Included ad-
dresses by Mr.. Willard, Hon. Frederick Bill
lings, Hon. William NJ. Evarts and others.
Mr.. Biliugss address will be of especial in
tcrest to our readers. He said
There were brave men before Agamemnon.
There have been transcontincntal roads be-
fore this one. There have been last spikes
and last spikes, but there never was more
significant last spike driven on the continent
than this one never one which had more
work and faith behind it never one with a
greater future before it. 1t has been long
way up to it. 1t is more than forty years-a
longer period than the children of Israel
were wandering in the wilderness before
reaching their Promised Land-since heard
Asa Whitney discourse on Pacific railroad
before the Legislature of Vermont. 1t is ~
years since Congress authorized surveys fol
a practicable and economical railroad route
from the Mississippi TO the Pacific ocean. II
is more than quarter of century since
heard Governor Stevens discuss this idenlica
Northern Pacific route before an audience il
San Francisco. is nearly score OF years
since this road was chartered. II is lhirleei
wears since lis first spike was driven. And
this long way has al times been n very dark
} one. 1t was gigantic undertaking, and hat
peculiar difficulties.
But this Is no time for historical details.
The great fact is that the road Is built. 1t
has taken faith and time and pluck and pa
thence aud hard work, with weary days and
sccpess nights. 1t took line upon line, and
precept upon precept, until there is an I'M
mense Northern Pacific literature to educate
the world, step by step, up to the situation.
AT last capital took courage through the Tn
lhusiast,c, big-hcaIted Jay Cooke, who i,
entitled to a gica' share OF the honor of the
event we celebrate, and the work was grand
ly begun ON both sides of the Continent
Then bankruptcy epgulfed Jay Cooke, the
road, and pretty nearly everybody and every
thing else. That was ten years ago this
very month. But after awhile the enter.
PRISE was cleunly Droubut out VI insoiNtnoy
with everybodys rights preserved, and Jay
Cooke, as we all rejoice to know, came, too
ont of bankruptcy, and is to-day swelling a
new fortune.
The faithful friends of the road stuck fast
10 it in its adversely, put up more money
aud after while the work was again
, started on both sides OF the Continent. Ant
then, when later the skies frightened al
round, outside capital once more took cour'
age, new lite mud new blood came, and a
last VIC arc here.
1t is great day. look back to tho time
when you could count the friends OF thu