The romance of the Canadian Pacific RailwayMacBeth, R. G. (Roderick George)
History
The romance of the Canadian Pacific Railway
MacBeth, R. G. (Roderick George)
Canadian Pacific Railway Company
Mr. Van Horne, who had been up and down the prairie part of his line
frequently, had been watching the rising cloud of discontent amongst the
half-breeds there. He did not worry over the political aspects of the
situation, but he saw that if the Indians were to be drawn into revolt
there would be a general devastation over the whole country. He at once
saw the possibility of demonstrating to the country the value of the
railway as a carrier of troops to the West, if necessity arose. He
pointed out to members of the Dominion Government that the Company would
in such a contingency have a strong claim on the Government for help in
the financial crisis to which, by reason of the tremendous expenditure
in construction, he saw the road to be swiftly and inevitably heading. A
member of the Government told Van Horne that the possibility of having
to send troops to the West would undoubtedly put a new face on any
application by the Railway to the Dominion for a loan to tide them over
their difficulties.
It was only the brilliant and marvellously resourceful work of
Shaughnessy, in Montreal, in this period that was making the continuance
of the work possible, and that was preventing impatient creditors from
launching proceedings against the Company. Thinking “as if his brain
were packed in ice,” this consummately cool and alert purchasing agent
seemed to make a thousand dollars grow where there was only one before.
The thousand dollar amount was not actually there, but he handled the
situation as if it was visibly in existence. He promised and threatened
alternately. He made partial payments and told creditors that if they
pressed unduly the Company would do no more business with them. He gave
notes and arranged collateral with such extraordinary skill that, so far
as I can find, no claim for money due in the ordinary way was ever
brought into court, and no note ever signed by the Company ever went to
protest. But despite Shaughnessy’s masterly handling of the situation,
things were desperate enough, although Stephen, Smith and Angus were
pledging their private property and turning over their private
investments to keep things in operation.
And now the mountain section had to be completed. More millions would
have to be found somewhere. No one seemed to know where to replenish the
empty treasury, and the mental strain on the members of the Board was
terrible. The fight against rocks and swamps and mountains waged by the
Company and contractors and men was fierce enough, but it was not to be
compared with the constant battle that had to be waged by the Directors
against heart-breaking and nerve-shattering financial conditions, for
years after the signing of the original agreement with the Government of
Canada for the building of the road. In the next chapter we shall study
this particular phase of the subject for a space.
CHAPTER X
Battling for Life
Public-domain text, read in full here on John Shaqi.
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