Early Days in Fort Worth, Much of Which I saw and Part of Which I WasPaddock, B. B. (Buckley B.)
History
Early Days in Fort Worth, Much of Which I saw and Part of Which I Was
Paddock, B. B. (Buckley B.)
Fort Worth (Tex.) -- Biography; Fort Worth (Tex.) -- History; Frontier and pioneer life -- Texas -- Fort Worth
A secondary purpose of the trip across Texas and the presence of Mr.
Forney, then among the foremost editorial writers of the day, was to
educate the public and to influence it in favor of a grant or subsidy
from the general government in aid of the construction of the road, such
as had been granted to the Union Pacific Railroad. A bill was then
pending in Congress for this purpose. Forney’s paper as well as others
in the east set forth with great emphasis that this line would be of
greater benefit to the nation at large than the more northern route,
inasmuch as it was in a more southerly latitude and would be open for
traffic every day of the year, and would not be snowbound as it was
contended the more northern line would be at certain seasons of the
year.
Col. Scott commenced the active work of construction westward from
Marshall and Jefferson immediately on his return from the Pacific slope
and prosecuted it with all possible energy. He had associated with him
General Grenville M. Dodge who was the chief engineer of the Union
Pacific and Mr. Frank S. Bond who was the financial director of the same
road. The road was constructed as fast as men and money could do the
work and every argument that could be devised was put forth to persuade
representatives in Congress that this line was of prime necessity to the
commerce of the country.
Representatives of the company attended every convention of importance
that was held in the country and resolutions were adopted urging
Congress to grant the southern route the same concessions that had been
given the northern line.
Meanwhile Col. Scott and his associates were bending every energy to
secure capital for the construction of the road. In the summer of 1873,
Scott went to Europe on this mission. It was reported, from what was
regarded as reliable sources, that he had interested English capital in
the enterprise and every one in North Texas was rejoicing in his
success. It was stated that so confident was Col. Scott that he had
provided a dinner at which all who were in London, interested in the
enterprise, participated in celebrating his success. While the dinner
was in progress a cablegram was received announcing the suspension of
the financial house of Jay Cooke & Co. This firm was the financial house
of the general government at that time. It was they who had carried on
the negotiations for the United States during the war and who had
handled and marketed the bonds issued to support the armies of the
United States in that great contest. This had given it the widest
reputation throughout the world and its failure wrought havoc in
financial circles everywhere. Very naturally it put an end to Scott’s
negotiations and he returned to this country very much dejected but not
at all dismayed or discouraged.
Public-domain text, read in full here on John Shaqi.
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