Year: 1873

!. When the Board made its selection of a
ssuccessor to the gentleman who created
this great enterprise as it stands to-day be-
fore the public, | was by your appointment
Ion n committee to 90 to the Pacific coast,
and afterwards to Minnesota and Dakota,
To make a personal examination Of the
road, its route, and its land grant, and to
ilool< into everything which concerned the
Tcompany's present and future. Before ac-
fcepting or declining the trust you offered
Ito me, | thought it to be fit--to be due to
myself, to you, and to that small portion Of
the public that might place confidence in
me enterprise by reason Of my presiding
1.sysa it--that / should make this personal
II tfi ....ias stio. end tlqreas found nay indoz
ment Of the ultimate value Of the Northern
Pacific railroad and of It's land grant.


That examination has been made, and
my opinion Of the property has been form
ed on the examination. And l come to-day
to announce to you my acceptance of the
honor and the Office you have rendered to
me, and to promise to devote to this enter
prise all Of my time, and whatever of cXpc-
rience and Judgment, | have acquired in
forty years Of active business life, most of it
spent in works Of a character similar to the



road.


In making a personal examination Of the
road, the route and the land grant to
which have referred, | was one of a COM
mittce Of a majority Of your Board, and
thus had the full advantage Of observation
from the various stand points at which diff
terent minds and temperaments would nat
urally view so great Il project, all aiding me


l 4 Il !
ment


In the journey, we examined about one
thousand miles Of the route of your road
and of the lands contiguous. OF the line
and the lands, more than one-half was on
the Pacific coast OF the constructed por-
tion Of the road, we twice passed over four
hundred miles, examining the whole of the
property and the whole of the thousand


miles of route by daylight, purposing to re-


y on what we saw, and not on what we
heard, as to the route, the land, the proper
ty, and the probable future development of
the enterprise.


L is not my purpose to go into an elab-
crate recital Of all the facts and the theo-
ries on which | base my opinion that the
Northern Pacific railroad can be construct
ed at reasonable cost-that it can be OPP
Grated and maintained at Il less cost than
any other railroad across the continent
north OF the parallel 33, for very obvious
reasons, and tha6 IL viii have, when con
Structed, and at once, a larger local traffic
ihan any other road can have west of the
hundyedth meridian of longitude; but
will say to you that such is my well con-
sidered Judgment.


| will also say that the vast country
Within the limits of your land grant is not
equaled by any similar extent of country
west Of the Mississippi river, in all Of the
clements necessary to support an intelli-
gent, enterprising and prosperous popua-
ton in all the comforts and uXuries of life.
There is no problem to solve as to the
success of the Northern Pacific railroad
after it shall have been constructed. The
only question after that event will be how
intelligent men Of this age should ever have
had q doubt about 1t.


With these views, gentlemen, l enter up
on the duties Of the trust you have COM
mitted to me.