The Atlantic Monthly, Volume 20, No. 122, December, 1867: A Magazine of Literature, Science, Art, and PoliticsVarious
General
The Atlantic Monthly, Volume 20, No. 122, December, 1867: A Magazine of Literature, Science, Art, and Politics
Various
American periodicals
Both the upper and the lower-enterprises, however, remained for many
years after their inception in a quiescent state, serving simply as
topics of newspaper discussion, or of buncombe addresses from local
rostrums. But in 1860-61 the unexpected discovery of large deposits of
the precious metals in Colorado and in Nevada gave an enormous impulse
to the carrying trade of the plains, and the same argument which proved
so cogent in California aroused the Western capitalists from their
lethargy. Rumors of the new line over the Sierra also found their way
East; and the Legislature of Kansas, now a young and vigorous State,
passed a joint resolution in March, 1862, urging on Congress the
immediate creation of a national Pacific Railroad Company. In
anticipation of this action, the agents of the lower route had already
proceeded to Washington, where they found themselves suddenly in the
presence, not only of the representatives of the Central Company of
California, but also of the Chicago projectors and their New York
friends.
It will scarcely be profitable at the present time to descend into the
particulars of the rivalry which interests in many respects so divergent
necessarily entailed. A gentleman who had singular opportunities for
arriving at an unprejudiced judgment recently informed the writer of
this article that one company alone employed the element of "influence"
to the extent of three millions of dollars, or its supposed equivalent.
Facts of this nature, however, are outside of our purpose; and we shall
limit our illustration of the character of the struggle to a brief
glance at the curious tangle of compromises which the charter itself
presents. Passed in the Lower House by a catch vote, and pushed with
difficulty through the Senate by appeals to party pledges, by
unimpeachable proofs of the feasibility of the scheme and the financial
integrity of its advocates, and above all by intimations amounting
almost to threats of a possible secession of the Pacific communities,
the act of 1862 bears the evidence of a conflict of purposes in almost
every one of its sections. It is evident, for example, that, with the
tide of civil war beating fiercely around the national capital, Congress
was still under the spell of the past, and severely distrustful of any
avoidable increase of public obligations. Bonds were loaned to the
enterprise at the rate of sixteen thousand dollars per mile for the easy
work, with treble aid for the mountain division and double for the Salt
Lake Valley; but this loan was made a first mortgage, twenty-five per
cent, was reserved till the completion of the road, and the transit
business of government was to be paid solely by the extinguishment of
the bonded debt. The land grant also was but six thousand four hundred
acres per mile. The clashing interests of St. Louis and Chicago are
shown in the ignoring of any special eastern terminus, and the location
of the initial point of a new trunk road upon the one hundredth
Public-domain text, read in full here on John Shaqi.
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