London or Paris to Australia.

Sources of reve

nue.

Canso on the most direct route, and the extension along the Pacific coast, and improvements in speed already alluded to, are effected.

By the same mode of reckoning it now takes about twice the last number of days to reach the same point from the cities named, by the route of the Red Sea and the Indian Ocean. A similar difference, but less in amount, will be made in the travel from the same cities to Australia.

In considering the question of revenue, no attempt will be made to exhibit by figures what it probably will be, even for the first few years after the opening of the road. The fact has been stated that the most numerous and powerful of the Indian tribes are to be found in the vicinity of the line of the road, a consequence, as stated, of the superior capabilities of the country for their support. These tribes, by reason of the rapid settlement of the country, the disappearance of the game, and the rude treatment they will be too likely to receive, will become more or less hostile, demanding the maintenance of a more than ordinary military force, by which the government will become, during the first years of the operation of the road, a large contributor to its revenue. That this must be a large item, it is necessary only to consult the records Military trans- of the War Department in reference to the protection demanded by the line of railway now in progress by the Salt Lake route, and to understand that upon that route, and in its immediate vicinity, between the Missouri and the Pacific, before the present Indian troubles commenced, there were some forty or more military posts.

Government a contributor.

portation.

United States and Canada and European mails.

The conveyance of the mails will form a very large item in the revenue of the road. These will consist, in addition to those of our own government, of the European, and Asiatic, and Australian mails, from England, France, Belgium, and Germany, &c., including the British North American Possessions.

The transportation of Express matter, or matter Express matter. paying the highest rates of transit between the countries named above, will also be an item of more than ordinary magnitude. The silks and other articles from China and Japan will come under this list. All merchandise, moving in either direction, that would suffer from a tropical passage, or in the conveyance of which a saving in time is important, will seek the railroad. All these are most important and reliable sources of revenue to the Northern Pacific road. No No competition other route can come in successful competition with mails. it in the transportation of the mails, &c., referred to between the countries named.

in transport of

As to other sources of revenue and the general business of the road, both will doubtless exceed any present estimate or anticipations as to their amount. It can with truth be stated that upon all of the railways hitherto constructed, the business transacted upon Results on other them has very greatly exceeded, even within the first railways. few years of their operations, the estimates previously made, and if some have failed to meet expenses, it has been because the latter were underrated, but this failure has generally only been for a season, for a short period, comparatively, in the life time of the roads.

Revenue from

In naming the different sources of revenue, that to be derived from the land grant should not be omit-. ted, for while the land in the vicinity of the road land grants. is much of it less valuable than is to be found in the vicinity of land grant railways in the Mississippi valley, the revenue to be derived from it will doubtless aid largely in defraying the cost of the road, which will be greatly increased by the probable inability of the country through which it passes, from not being sufficiently settled and improved, to furnish support, for the time being, for its rapidly increasing population.

of railways.

It is susceptible of proof that the farm lands alone, Benefits to land omitting village and city property, within fifteen miles

The company and government benefited alike.

of such railroads as have been constructed and put in operation east of the Mississippi have been increased in value by reason of the roads to an amount in the aggregate exceeding the cost of the roads.

Upon the line of the Northern Pacific road, this great benefit will be shared equally by the company and the government in the enhanced value of the lands owned by each respectively, and the latter will moreover be greatly benefited by the addition it will make to the military strength and the taxable wealth of the country. Viewed in this light alone its construction becomes a measure of sound policy to enable the country the better to bear or to relieve itself of the burden now pressing upon it. To realize this benefit no advance of capital is needed or asked for, all that is desired is the loan by the government of its credit for a limited period to the extent granted to Government aid other companies. Such a loan is essential to the success of the enterprise, and is claimed under the rule. of equal and exact justice, and because a very much greater portion of the population of the Union, a portion which produces relatively, according to its numbers, the most exchangeable wealth, are more directly and more deeply interested in the construction of the Northern line to the Pacific than in any other.

essential and an act of justice.

Telegraph line.

Revenue.

A probable source of revenue to the road not yet noticed is the telegraph line authorized by the charter, and included in the estimate of cost. This line is an indispensable appendage to the road, and will form from its position a portion of the great line projected to unite the American and Asiatic continents and Northern Europe. It is reasonable to suppose that it will prove a source of profit to the company, over and above the benefit to be derived from it in the operation of the road. It will be a source of profit to the country also in its salutary influence in moderating charges npon the transatlantic line now in operation, and upon other transcontinental lines.