The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1891-09-19

canoe along the north shore of the Great Lakes he
| finally arrived at Montreal He wrote oook
| which was translated into English and puniisned
| in New York i ! 1854 This work told about the
huge trees of the Pacific Northw's, the iertiie
1 soil, the mineral wealth and the mild climate
| "Franchere was fairly eloquent about the sas-
| ksiehewan, where tall grass was up 20 MS heaa
| when he sat on his pony seletiers expiora-
tons, and those of Lewis and Clark also iur-
/ nished Interesting material.
| 81 could not account for the mIldness OF The
| climate until / began to study the maps linen
| / understood why grain can be grown as far
| north as the Saskatchewan. Duluth, discoy-
| cred, is 90 miles further south than Paris On
AercatOrs projection traced the Japan cur
rent, and saw how that mighty ocean stream
/ keeps the coast here always warm even went
/ 30 far as to have various samples OF soil-among
| them the soil OF Eastern Washington-anaiyzed.
| well the result of all this was that become
| convinced that the Northern Pacific railroad
| would open up the finest country in the world.
| and the enterprise would De so profitable that
no reflection could ever be cast upon me for pro-
noting it. So turned ali my energy to carry
| ing it out
at was decided to issue 500. 900
| in bonds and the same amount of
| stock The bonds bore ! per cent. in
| terest and were reasonable in thirty
years. There was provision that the company
would receive them at 40 per cant in the pur-
chase of the company's land az the lowest mar
ket price As there was a government grant OF
81 $50 acres for every mile Of the road, there is
no question that the bonds were we'll backed,
and man who chose to buy land with them
might realize handsomely.
az sent agents abroad, and made every ar
rangement for placing $4,000 600 of the bonds
in Europe. The proposition met with favor,
because we offered large part of the stock as a
bonus 70 the banks that placed the bonds
Everything was ready; the papers were all en-.
crossed, and in just two days should have had
that enormous SUM Of sj0,000.O00 placed to my
credit, aud we could have gone on with the
road, but in that two days Louis Napoleon, with
out warning the bankers OF Europe. began the
ffanco-Prussian war That knocked every
thing abroad to pieces, and we had to turn to
America for our money.
MANY were inclined to give up in despair,
but was bound TO carry the road through, so /
got up an American syndicate comprising c. B.
Wright and Thomas A. Scott. Of Philadelphia:
General Moorhead and some others OF Pittsblrg
and capitalists from various parts OF the country.
Henry Ward Beecher and Horace Greeley were
among the subscribers. IN that way we raised
$5.eO,0OG and started TO build at both ends. A
piece from Kalama to within forty miles of Ia
coma was one OF the first to be constructed
"We worked along raising money and contin-
uIng the building until we reached Bismarck
At one time thought had placed s10,Cc9 coo of
bonds IN Europe. We were on the point OF clos
ing the negotiations when the Alabama matter
started a scare about war between England
and the United States. OF course money from
Europe was out Of the question then. The I'm
ion Pacific interests fought us bitterly in every
direction. The finances OF the country
were getting worse and worse, and we were
having hard time of it, But we struggled
along in hope that prospects would brighten up.
and that We could carry the project to success
tui completion. Though 1 was to advance not
more than $4,000 at any one time kept put
ting out money for the work until had adj
vaneed over 5000, 00O-including 81 10000 for
the purchase of the Oregon Navigation Com
pany
But the crash came in 1879 and everything
was swept away. The Northern Pacific con-
strnction was stopped, and was not resumed
until some years later. Willard, backed b. the
German bankers. took hold again and complete
the line across the continent
when over 20 years of age I began anew
the process of making a fortune. | have
worked hard; have won back the
money lost, and can stop to
breathe again. Now, for the first time, have
gone from one end to the other of road on
which look somewhat a father might on a
child. There is a perfect track, a fine eouip-
ment, and the country traversed is rich and
beautiful beyond description. The road is lust
In Its Infancy, and none can tell the develop
ment yet before it. The fight in the early seven
ties was hard one, hut when / see 100000
living in happiness and comfort along the
line; when see the benefit to the country at
large, know that all the toll and trouble OF
those days was worth the while.
"The original intention was to run the line
from Puget sound to Duluth-Duluth. place
that had but six houses when l first visited il.
twenty-three years ago. We wanted line from
water To water. BY the lakes il is no further
from Duluth to Buffalo than from Chicago; vet
from Puget sound to Duluth is 600 miles less
than from San Francisco to Chicago Then too,
the distance from Japan to the Sound is 500 miles
shorter than from Japan to San Francisco, so in
Asiatic traffic there is a saving of LOO miles
The time Will come when Puget sound will be
one Of the greatest, if not the very greatest.
shipping ports OF the world The traffic between
Asia and America will enter here. and much of
the traffic between Asia and Europe.
"The development of this country has just
begun; but when you get at the best of your re-
sources you will see q progress beside which
that You have seen in the past will fade into
insignfieance."