The Atlantic Monthly, Volume 14, No. 85, November, 1864, page 159 by Various Authors
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and there will not yet be enough business to build the road.
This enterprise must be looked at in the light of a cash-advance from California and the Eastern States to the Plains, the Mountains, and the Desert, secured by a pledge of all the mineral and agricultural wealth of the party of the second part, guarantied by the prospective myriads of settlers whom the road shall bring to tracts now lying waste through the mere lack of its existence. In the course of the present article we shall endeavor to show the solidity of this security, the responsibility of these indorsers. While we counsel confidence to the capital which must build the road, we feel it imperative upon the National Government to enforce its position as that capital's trustee. That capital for the most part lies east of the Missouri and west of the Sierra Nevada. Between these two boundaries the road must run for eighteen hundred miles through a region where capital may well be cautious of intrusting its life to any less potent authority than that of the Nation itself.
The claims of the Pacific Railroad have usually been urged upon the ground of its benefit to its termini. This ground is adequate to justify any advance of capital by the cities of New York and San Francisco. With the completion of the road, San Francisco necessarily becomes a depot for the entire China trade of the United States, and an entrepot for much of that between China and Western Europe. With the development of our Japanese relations, still another stream of wealth, now incalculable, must flow in through the Golden Gate. In the reverse current of Asiatic commerce, New York's position at the eastern terminus of the continental belt gives her a similar share. The gold-transport and the entire fast-freight business of New York and San Francisco, now transacted at an enormous expense by Wells and Fargo's Express, must be transferred en masse to the Pacific Road; while the passenger-carriage, now devolving on Isthmus steamers and overland stag