which is 2000 miles by water from New Orleans, its nearest port or sea outlet, 130; at Wheeling, 22; at Cincinnati, 83; the residue at different points along the Ohio. The general deficiency in the supply of manual. labour in America, has made it necessary to provide other auxiliaries in its stead; by water power, where such means are attainable, and otherwise, by steam power, especially in the larger towns and cities. Scarcely any of the mechanic arts, that are not assisted in their progress by this latter means; while seldom a store or workshop is now built, either for any certain use, or for the speculative purpose of leasing out to others, that has not its engine-room and engine, as of course, attached to the premises; the number has in consequence materially increased within late years. The total number of standing steam-engines, those of which a return has been obtained, as well the estimated number in those states from where no return has been had, up to the period, 1838, amounted of all sizes, to 1860, and of 36,319 horse power; of which, 383, with 7,448 horse power, being the greatest number in any one state, were belonging to Pennsylvania; 274, with 7,796 horse power, to the state of Louisiana; 165 to Maryland; 124 to Virginia, and the residue, apportioned between the remaining states. CHAPTER XII. Progress of Internal Improvements-Resolute determination of the American settler-Railroads, canals, &c.-Currency of the United States-The experimental freaks of General Jackson in relation thereto-Undue value attached by Act of Congress to foreign coin in the United States-Importations of Specie into the United States, in 1835 and 36— General bankruptcy, in 1837-Speculating and overtrading mania in the United States-American "shin plasters". Suspension by the United States and other banks, in 1837General bankruptcy law-Its passage through Congress and subsequent repeal-Opinions in relation thereunto-The present relations of debtor and creditor in the United States -Interest paid on discounts-Penalties of usury-General bad faith of Americans in money dealings-Remarkable instance, in which the Author was concerned-Domestic exchangesNational bank-Opinion of Judge Story as to its constitutionality-Damages on protested bills. THE progress of internal improvement in the United States, has of late years exceeded that of every other country. To this end, is every man's energy in some way or other found to contribute, either in the discovery of some new and untried means-some greater facility in its further promotion, or in exhausting the opportunities already within his disposal for its ultimate accomplishment. The extraordinary activity and enterprise of its population, continually urging them to renewed efforts, and to seek in yet unsettled and remote parts of this vast country, some other real, or imaginary expedient in improving their fortunes, has changed the features of many portions of the inland territory-introduced civilization, and established man's authority, where all was previous void and desolation, and given a fresh and vigorous impulse to the whole form and advance of American society. There is no difficulty sufficient to arrest the onward and steady progress of the American settler--no privation-no suffering capable to deter him from the most arduous undertaking. Distance is of nought, and the prospect of an eventual return to his former homestead and friends-the familiar scenes of his early boyhood, far removed beyond his usual calculation: he pushes forward with an irresistible determination to surmount every obstacle in his way, and by a cool and steady perseverance -an indomitable energy and patient endurance of the many ills and privations he is sure to encounter, generally overcomes every resistance to the ultimate attainment of his purpose. Towns and cities have thus emerged from amidst the forest, and interspersed themselves on the banks, or near vicinity of rivers, that assist their population in the more ready deportation of their various products to some profitable market, or the supply of their necessary merchandize. These remote districts have now been brought into a close and advantageous proximity to each other, by the recent introduction of steam power, whilst railroads are already intersecting very many parts of the country, several of them, directly leading from the larger cities on the eastern seaboard to the interior. To this period, no official or authentic account has ever been published, of the actual extent and progress of railroads in the United States; the public being in a great measure shut out from such inquiry, or indebted for whatever of general information that has been obtained on the subject, to the report of the Chevalier de Gernstner, an intelligent Austrian engineer, who made a tour of inspection and survey throughout the United States in 1838 and 39, and whose account comprises a great many interesting and material facts in connection with this subject. According to the Chevalier's statement, there were over three thousand miles of railroad completed, and in operation within the republic, in the years 1838 and 39; 425 locomotives, of which the greater number were built in America; while he computes the length of finished railroads in this latter year, (1839) to about four thousand one hundred miles. The capital expended on railroads now in operation, is about 60,000,000 dollars, or, at an average cost of 20,000 dollars per mile; for which sum, the railroad with the buildings have generally been constructed, and the necessary locomotives and cars supplied. Several railroads have been undertaken with insufficient means, and the shareholders in consequence reduced to the necessity of employing the income of the first years in improving the railroad, in building engine houses, &c. &c., and purchasing locomotives and cars. They received during that time no dividends, but the railroad still yielded a good income. Other railroads, when finished, paid from five to ten per cent. interest to the stockholders; others have not yet paid any dividends, for want of a sufficient number of passengers and freight. The average result of the railroads now in operation in the United States, is, that they give a yearly interest of 5 per cent. on the capital invested. This result may be regarded as satisfactory, as the greater part of the lines have been but a few years in operation. On all the lines, there is, according to this authority, an increase of at least 15 to 20 per cent. in the gross income, so that even those lines which do not pay now, will give in a few years a handsome dividend. Passengers pay on an average, five cents per mile; and travel with a speed, of from twelve, to fifteen miles per hour, including stoppages:-the charge for freights is seven and one half-cent per mile, while the average number of passengers through, in each passenger line, scarcely exceeds forty. There are on an average, 35,000 passengers through, and 15,000 tons of goods carried annually over the American roads, which gives on an average per mile and per year : From 35,000 passengers, at 5 cents From mail, and contingencies Total $1,750 1,125 200 $3,075 |