for an average of the country. Estimat- It will be seen that the value of lands ing at the same time the value of wheat at $1.50 per bushel, and corn at 75 cents, and that 33 bushels of each are equal to a ton, the value of the former would be equal to its cost of transportation for 330 miles, and the latter 165 miles. At these respective distances from market, neither of the above articles would have any commercial value, with only a common earth road as an avenue to market. are affected by rail-roads in the same ratio as their products. For instance: lands lying upon a navigable water course, or in the immediate vicinity of a market, may be worth for the culture of wheat $100. Let the average crop be estimated at twenty-two bushels to the acre, valued at $33, and the cost of cultivation at $15, this would leave $18 per acre as the net profit. This quantity of wheat, But we find that we can move proper- (two-thirds of a ton,) could be transported ty upon rail-roads at the rate of one-fifth per 280 miles at a cost of one cent per mile, ton per mile, or for one-tenth the cost or $3.30, which would leave $14.70 as upon the ordinary road. These works the net profit of land at that distance thee fore extend the economic limit of from a market, when connected with it the cost of transportation of the above arti- by a rail-road. The value of the land, cles to 3,300, and 1,650 miles respective therefore, admitting the quality to be the ly. At the limit of the economical same in both cases, would bear the same movement of these articles upon the ratio to the assumed value of $100, as the common highway, by the use of rail-roads, value of its products, $14.70, does to $18, wheat would be worth $44.50, and corn or $82 per acre; which is an actual crea$22.27, which sum respectively would represent the actual increase of value created by the interposition of such a work. The following table will show the amount saved per ton by transportation by rail-road, over the ordinary highways of the country. Table, showing the value of a ton of wheat and one of corn, at given points from market, as affected by cost of transportation by rail road, and over the ordinary road: Transportation by Kail-road. Wheat. Corn. Transportation Wheat. Corn. tion of value to that amount, assuming the correctness of the premises. The same calculation may of course be applied with equal force to any kind and species of property. The following rail-roads it is said are all aiming in the direction of Chicago: Miles. 23 25 21 75 Rock Ísland, Peru and Joliet.. Qniucy and Military Tract.. 200 200 Dubuque, Galena and Chicago 200 Illinois and Wisconsin via Fond du Lac to Lake 400 200 7650 Value at market..$49 50...$24 75...$49 50...$24 75 1275 48 15....23 40....36 00... 11 25 all to be in operation probably in three ..48 00....23 25. 34 50.... 9.75 ..47 85....23 10....33 00.. 8 25 years. ...47 70....22 95. .31 50.... 675 ..47 55....22 80. .30 00.. ...47 40....22 65....28 50.. 22 56....27 00. .22 35....25 50.. 20. 30. 40. 50. 60 70 80 90. 100. 110. 120. 130. 140. 150. ..46 25. 160. ..46 10. 170. ...46 95. 22 20. 21 75 ..19 50. 21 60....18 00. 21 45....16 50. .24 00. 21 15. 13 50. ..12 00. ..45 60. .20 85...10 50. ..45 45....20 70. 9.00. ...45 30....20 55. 7 50. 6. 00. ..45 15. ..20 40. ...45 00....20 25. .........44 85....20 10. 320. 330. 4.50. 3.50. 2 25 of a rail-road from the Gulf to Minnesota, 75 was duly held, 150 delegates being present. The Hon. Thomas Benton and Mr. Kennett, mayor of St. Louis, delivered addresses. Among the resolutions passed we note the following: First, That the individual and social interests of the inhabitants west of the Mississippi River, imperatively demand the construction of a rail-road from the city of New-Orleans to a central eligible point in the Territory of Minnesota, in the direction of the Red River of the North, and with a branch to the Falls of St. Anthony; Internal Improvements. said road to pass by the capital of the State of Arkansas, the Iron Mountain and the city of St. Louis, in the State of Missouri, and the valley of the Des Moines River, in the State of Iowa. Second, That a rail-way thus uniting the fertile valleys and productive prairies of the extreme northern territory of the United States with the Gulf of Mexico, is eminently national in its character, and, therefore, justly entitled to assistance from the general government. 81 on by our people-the one we have mentioned and the one from Selma-will penetrate the rich regions of Northern Mississippi, North Alabama, Tennessee and Kentucky, before the New-Orleans and Nashville road can be pushed to those quarters. This will give us a decided advantage in securing the trade." We are obliged to Mr. Hewson for a copy of his valuable letter to the Legisla ture of Tennessee, upon the subject of the improvement of that state. In the extract which follows he marks out the centres of industry there : Third, That the act of Congress granting public lands in aid of the Illinois Central and Mobile and Ohio Rail-roads, "The industrial geography of Tennesgives additional strength to the claims of see is marked very distinctly; the breadthe states west of the Mississippi to a stuff region centering at Nashville, the similar grant in aid of the Mississippi cotton region at Memphis; the great IlliValley Rail-road; for it would be unjust nois coal basin running down into the on the part of Congress to refuse assistance to establishing commercial facilities on this, after doing so much to encourage similar works on the other side of the river. western section of the state, while the whole extent of Eastern Tennessee is traversed in a north and south direction by the great Apalachian coal measures. These few facts define clearly the tradecentres of the state, and also the system of roads by which those trade-centres may be drawn together in the best manner to subserve the purposes of varied production. In the west the manufacturing interests of Tennessee are seated at the nearest edge of the coal-fields to the corn of Nashville, and the cotton of Memphis; in the east the manufacturing interests of the state are situated at that point of the Apalachian coal-fields, which lie most convenient to the supplies of both provisions and cotton from Nashville." Sixth, That the meeting of this convention affords a proper occasion for those of whom it is composed to urge upon Congress the necessity of adopting immediate measures in view of the certain and speedy construction of the Great Central Pacific Rail-road-a grand national project calculated to unite the interests and advance the prosperity of every part of the republic; and secure by the shortest and most economical route, upon our own soil and through the heart of our own country, safe and uninterrupted communication between its distant borders on the shores of the two great oceans,-a The rail-roads at present projected in project worthy of the age in which we the West reach ten thousand miles, two live and of the American people, who thousand of which are nearly completed. would speedily accomplish this glorious It is said that Pennsylvania, Central, and enterprise, if sectional jealousy and con- the Baltimore and Ohio roads will be fed flicting interests could be reconciled, and by the following western roads : the national mind concentrated upon its achievement. Congratulating the South upon the progress of this rail-road spirit, the Mobile Advertiser remarks: "Our own great enterprise, the Mobile and Ohio Rail-road, has no doubt had a great influence in awakening this spirit. It certainly was the main impulse which started NewOrleans from her lethargic slumbers, and caused her to enter into the competition for the trade of central Mississippi and the Tennessee Valley. As matters are now progressing, we have unquestionably the advantage, as we had the start, of our mammoth rival. The two great enterprises, which are being rapidly carried VOL. XIV. 6 IN WESTERN PENNSYLVANIA. The Hempfield road, Greenburg to Wheeling... west... Internal Improvements. The views of the writer are sound, and have been frequently insisted upon by us in rail-road addresses, especially in an address at the Virginia Inprovement Convention last summer. He says: 83 must be enlarged, within the next ten years, to a capacity which will admit boats to pass drawing six feet of water, with steam for a propelling power, and stowage for 2,000 bbls. of flour. Freight must be handled by steam, and transit expedited in all possible ways by water. Rail-ways will feed water routes with freight from the interior, the through lines carrying express freight of a light and costly character, and passengers. At least such are our conclusions from the foregoing promises. The great united Northern and Southern routes must always continue the great highways for the products of the interior, upon which they will be exchanged among the states, and the surplus finds its way to the seaboard. By them the Northeast and Southwest will be for ever united, while the numer ous iron ways intersecting them at various points, will weld together all the various interests of the several states, in such a bond of union as will prove for ever inseparable." "In concluding this subject, the question naturally suggests itself: if such has been the progress of our inland commerce during the past thirty years, what is to be its future? If such results have followed the partial opening of the resources of the new states by water routes, what is to follow the perfect exhumation of the interior of all the states by means of the iron tracks which are to act as feeders to the great Northern and Southern water routes? The year 1860 will dawn upon an internal traffic in the United States valued at no less than $1,800,000,000, including lake, canal, river, and rail-way. And there will be but little rivalry between the different routes. They will work harmonionsly together, mutually assisting each other, and all will be fully occupied. The immense heavy products of the Southwest will continue to float down the Mississippi, to the Gulf of Mexico, in great profusion and increase. Much has been written and said of turning the tide of the Mississippi trade north. Above certain lines, where the distance is greatly in favor of the Northern route, some of the present trade, and perhaps all the increase, will take the Northern route during the season of navigation. But the increase of trade south of those lines which will be induced by the opening of projected improvements, will far exceed the amount diverted. The strife now exhibited in procuring means for diverting trade from existing routes will disappear, in the inability to carry off the augmentation. Suppose the Mississippi and the Northern water routes now to have a 'total movement of 10,000,000 tons, which is probably not very wide of the mark, how many rail-ways like the Erie, Northern, and Baltimore and Ohio, will it take to carry the present tonnage. And how long will it take to construct them? It would require ten rail-ways, each, with double tracks stretching from Boston, New-York, Philadelphia, and Baltimore, to New-Orleans, Marine Insurance, 1 per ct... via the Mississippi valley and the Lake Fire Basin, making at least 40,000 miles of track which would cost at least $600,000000, and take ten years to build. In the mean time, our commerce would have doubled twice, crowding both water and land routes to their full capacity. So this will not do. Our canals in New-York, Pennsylvania, Ohio, Indiana and Illinois, Louisville, if we may judge from the tone of her papers, expects to become the formidable rival of New-Orleans, and to carry off the palm in the contest for western trade. The Courier, in particular, thinks that Louisville will have the forwarding of all the tobacco and all the cotton as far south as Memphis, and that Baltimore will become the mart for these products. The opinion is predicated upon a circular issued by Messrs. Webb, Rowland & Co., of Louisville, to the following effect: Sales "Pro Forma" Louisville. 100 bales cotton, 50,000 lbs. at 10c... Charges. Freight from Tennessee River, Nashville, or Memphis. Fire per month, per ct. Storage, labor, drayage, &c.. Commissions, 2% per ct.. New Orleans proceeds deducted. .$100 .$5,000 00 25 25 50 125 325 00 4.675 00 4,550 00 Sales "Pro Forma" New-Orleans. 125 00 The above is to contrast the advantage of the Louisville and Baltimore, and Ohio rail-road route, over the old route, via New-Orleans; and we should add that the difference in time in favor of Louisville is about one month-one-half per cent. interest. Let us next show the dealers and manufacturers of western New-York, Pennsylvania, together with those of Baltimore, Philadelphia and New-England, upon what grounds we advocate Louisville as a cotton market, to draw a part at least of their supplies from; and in making this exhibit, the shipper to this market can see at the same time why this is to be his best "home market." We make a " pro forma" invoice of 100 bales purchased in Louisville and New-Orleans, at 10c., for account of, say a manufacturer in Baltimore: Invoice of 100 bales Cotton purchased in Louisville. 100 bales, 50,000 lbs. at 10c...... Drayage Insurance to Baltimore % per ct. Discount on draft at 60 days $5,500, to pay for same, 1 per cent.... Freight from Louisville to Baltimore, via Wheeling and Louisville line, and Ohio & Baltimore Rail-road, 50c per 100 lbs... Loss in interest from the day purchased to the day delivered in Baltimore, 10 days.. Commission for purchasing, negotiating and shipping-50c.. Difference in favor of Louisville... Thus it will be seen that the northern or Baltimore manufacturer saves by buying here, in place of purchasing in NewOrleans, $223 95 on 100 bales, while at the same time the shipper obtains here $125 more on his 100 bales than he realizes in the great southern market. So decidedly does it appear to the interest of the Balti more consumer in future to look to this market for a large share of his wants, in this staple, and it is reasonable to say that he can afford to pay more here than in the market named, and here then is a further advantage to those who consign to this market. Further, let us see what advantage the foreign exporter of Baltimore and the European operator will have in tween the northern and southern seaboard, buying here at the half-way house, beover New-Orleans, at the same first cost. "Pro Forma" Invoice of 100 bales Cotton purchased in Louisville for account of Liverpool. 100 bales, weighing 50,000 lbs at 10c..... Drayage.. Discount on draft, 60 days on Baltimore, to Loss of interest from the day of purchasing in Louisville to the day of delivery in Liverpool, 40 days, is.... Commission, purchasing and shipping, 50c. Drayage and shipping at Baltimore. or c.. In favor of buying at Louisville... $5,000 00 6 32 75.00 55 00 250 00 36 67 50 00 25.00 250 00 5,748 02 165 73 .$5,000 00 Discount on draft 60 days on Baltimore to 6 25 31.25 55 00 Loss in interest from the day of purchase to the day of delivery in Liverpool, 60 days...... From the above table (and it is correct5,401 67 ly stated,) the party buying here for for223 95 eign account saves, on 100 bales, $165 73, 5,625 62 or about 3 per cent. |