Year: 1871

The use and control of great capital and the con-


duct of great enterprises necessarily creates in the


popular mind jealousy and distrust. Especially is


this the case when in aid of great national projects


national assistance is asked and received, aud es


peciay is it true in governments Of Republican


form, where every individual feels that he is part


of the State, and that the public treasury belongs to


him. His first sentiment is one of jealousy that be


was not the recipient of the public bounty, forget


ting that before assistance was granted there had


been individual enterprise and well-matured plans,


resulting from business capacity and perhaps long


years OF toilsome preparation. Capital necessarily


brings power and will take arbitrary measures for


its protection; the people resent the exercise Of


power, and naturally rebel against its display This


preliminary is to call our readers attention to the


railroads of this State and to the fact that the two
great railroad sehemes-the Central Pacific Railroad
Company and the California Pacific Company-haVe
struck hands, and consolidated their capital and
placed both roads under one management Messrs.
Stanford and Huntington, Of the one Company and
Mr.. Latham, representing the other, have, from
being rivals and from wasting their in the
building of parallel roads, double depots and ma
chine shops, with double set Of officers aud en-
ployees, and ell the consequent extravaganee Of a
double system, (as we think wisely and for the
best interests Of California united their business
and made Of the present roads one property-sys-
tematized and arranged it under one control This
proceeding will necessarily give them better credit
abroad enhance the price Of their securities facil
tate the negotiation Of their bonds enable them to
develop more complete and economical railroad
system in this State; and the result Ia, beyond
doubt, greater capacity for business and cheaper
service to the people. Ignorant aud nanow-mlnded
men will carp at and crticise everything that is be-
and newspapers will oppose monopolies,
forgetting that any work requiring an outlay Of
millions is beyond the capacity Of single men, and
If national In its character, must have national aid
Such people forget that California is separated
from Eastern settlement by wide belt Of uuoccu-
pied country. Ten years ago they all clamored for
Pacific railroad and that 1t is an accomplished
fact, they seem to feel angry that Messrs Stanford
and Huntington have been successful in doing just
what they wanted. We have all desired an internal
railroad system; Mr.. Latham, with domestic and
foreign capital, develops that system, and people
viii blame these two enterprises that for sefdefense
and mutual interest," they unite to strengthen them
selves for further Effort In the same direction Call
fornIa demands 900 miles more Of rail- and railroads
do not build themselves; their construction should
be encouraged and assisted. San Francisco can not
afford to enter upon an a5tiTailroad policy il Is
suicide and death to do So at least it s to delay the
progress and prosperity that ought to be immediate.
Puget Sound viii become the terminus Of trans