California Farmer and Journal of Useful Sciences, Volume 31, Number 15, 29 April 1869 — CENTRAL PACIFIC RAILROAD BONDS. [ARTICLE]

CENTRAL PACIFIC RAILROAD BONDS.

Those Who remember the day when the people of Sacramento and some few from abroad, were assembled to witness the lifting of the first shovel full of earth, can also remember the many remarks that were made on that occasion ----some like the following: The road will never be built ! They will stick at "Dutch Fiat" ! Where will the money come from ! What a swindle of Uncle Sam ? Who the wants stock ? These and a hundred others similar remarks, together with many a sneer and numerous ironical smiles at the undertaking formed a part of the the history of the day when the first earth was broken onl the Central Pacific Railroad at Sacramento ! What became of the shovel that lifted that first earth has been an important inquiry of late, now that Triumph has completed that great work. That Shovel, was for the moment carelessly tbrow aside, but tbere was one person who could look into the distant future who believed tbat it was worthy of preservation and it was saved. and will bear a conspicuous part in the coming Celebration, and we do not think Out Thousand Dol lars could buy that shovel. But to tbe Bonds, when the Bonds of the Central Pacific Railroad were the first put upon the market they were met almost with ridicule, and by Californians too—Men who since have grown ricb by the trade which this road has given to our State sneered at them, and there influence was felt in New York; but thanks to that noble indom initable spirit which no defeat could kill, the Mana ager did make them tell and gave them a name and a standing not only in New York but in all the Money Marts of Europe, until they ware sought for and ranked as high as the Bonds of (he United State Government.

Where are these Bonds now ? No Central Pacific Raiil Road Bonds for sale I

The certainty of success established beyond controversy, caused these Bonds to be all withdrawn from the market several months since, the success of the road giving assurance that they are worth a handsome Premium.

That this is a truth the Eastern Journals and European Journals assert it to be so by copious Editorials, we need give only a brief one from one the best Journals published—as follow:

—The Pacific Railroad is pre eminently an American institution, and closely allied to the Govern. meat, which fostered its beginnings. In consc quence of this intimacy, the faith of the one is almost the reciprocal of the faith of the other.— Their securities are pulses for each other. When, then, we read of the wholesale disposition of Pacific Railroad bonds in foreign markets we are gratified, for it is but an exhibition of confidence in the higher securities of the Government.