The Northern Pacific Railway; its effect upon the public credit, public revenues and the public debt - Softcover

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1869 Excerpt: ...referred to; making two millions in all. Nothing has been inserted for " right of way," as the land-grant carries with it all that is needed over nearly every foot of the way; and where land is taken up, the owners will gladly give the Company all they may require, in consideration of the benefit to the remainder. RECAPITULATION. Grading, masonry, bridging, track and ballast,.. $60,320,000 Sidings, etc.. 4,200,000 Contingencies, including superintendence and engineering,.. 5,000,000 Telegraph line 600,000 Buildings 2,312,000 Rolling stock 3,615,000 Branch road, „ 1,200,000 Extra works, etc 800,000 $78,047,000 Interest on bonds over receipts during construction, 7,230,000 Total $85,277,000 This gives an average of $42,638 per mile. It is obvious that if this estimate is sufficiently liberal to cover all probable contingencies, that the road can be opened for the beginning of traffic for a less sum than the above total; for it is scarcely presumable that all the works at the terminal points, or the ballasting, would be completed at that time, and it would not be necessary to have all of the buildings or rolling stock until business on the road called for them. I have purposely made no allowance for the reduced cost which may be brought about by the introduction of Chinese labor. It is well known that a large amount was saved in the construction of the Central Pacific and Union Pacific Railroads by the employment of Chinese. It would be more or less hypothetical to assume on this account an important reduction of the amount of the estimate, and I prefer that yourselves and others should judge of it. My estimate is materially less than estimates which have previously been submitted to the public. Mr. Johnson, the able Chief Engineer of the Compa...