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Pacific Railroads

Pacific Railroads image
Parent Issue
Public Domain
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A Washington correspondent of tiie Journal of Commercê ssys : In oomm enting upon rnilroad matters, newspapers seem to discover aboutonca a tvoek (Lat tlio gnvernmeut bas granted to Pacifio railioads 1-4,000,000 acres of land In the Journal of Cvmmerce of Fobruarj 5, 18G9, tliat facl w;i stated, und the disposition shown to be is follows : Union Pai-iflc, ) Union Pacific, Eastern Div. .. V 35,000,000 Ctaul pal Pacific ) Northern P.icifio 47,000,000 Atlantic & Pacilic 48,000,000 Total 121,000,000 Thia tlocs lint inulude the Western Paaifie, Southern Pacific, of California, Sioux City and Pacific, Atohison and Pikc'a i'eak grants, or aoy of the liltle grabs that havo been quielly slipped through Congrcss f-inca eurly in 1808. With these added the total amouut sueüs by eevoral ïnillionsof acres. Settlers who desire to lócate near aoy of tlieso roftds lirul tho goverument loan seotion of liinrl taken up, and are oliliged to pay whaiever prico for the balauue tlie railroads may domand. ïbe government bas issucd to the coicpanies, whose lines are coinplotcd, boniis amountina: in tho aggregatu to $65,457,320. Upon thoso bónds til, haviog thirty years to run before being payable to the government by the r.ompanics, the government puya interest at six per cent , and the companies promise to pay tho government eix per cent. Nú Paciliu railroad company hns vet paid a dollar in ea to th" government s.- interest upon the bonds loaned, though the interest in each case is due on the first day of Jauuary and July of each yoar. The governnieni neods sotno lit tlo transportation aml v,-h;.t it gets it pays well fur, part in casii aiid pftrt in oredits on the interest noeounf. It haR already paid 8(,S81 664 ÖG, in gild, interest upon tho bond-1. On April lst. 8759,827 iO ad acornea in ttddi ion to t!io abovo amnunt. Tho cimpinie have paid in trunsportutiou 2,080,571 l! !, lcaving a blime of 84,851,093 92, paid by the government, dus i:i OU r ren cy by the rllrdndi to tlio government unpaid and probally a!wavs to reinnin uopaid unlcss ths governmeDt s!m!l ue up the nrlebtetlness i:i sendirtg supplici to the army, oarrying mails, etc. It is generally believfd tbal some-of the roafis are pnying the interest in 'as'i chere they do'not in transportaron. On the conlrary the Ui. ion Paoifiö, whieh hss boen geoerously dealt itb, has paid in trausportation 81,-07,581 60, and owes the góvernmtoBt, in interest overduo and unpaid, 81 71. The Contra] Pacific Uompany, has paid íb transporta-, tion S 133,9 13 55, and s:ill owes the government. overdue interest amounting to S'2,351,372 P9. T!io ?ioux City and Paoifia has .aid in transportation the pitiful sum of 369 40, a-..d still owes the government interest umounting to $144,988 80. Tho Western Pacific does oot appenr on tho books at the Treasury Department as having paid n dollnr ot' iutreet iu any manner.