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About The west shore. (Portland, Or.) 1875-1891 | View Entire Issue (July 1, 1882)
July, 1882. THE WEST SHORE. 37 VALUE OF IMMIGRATION. : . In discussing the value of immigra tion, the United States Economist says: Recurring to the money value of an immigrant, the most recent works on immigration assume $1,000 as the worth of each permanent addition to our population. These writers, how ever, have adopted as their basis of valuation, the maxim that an article is worth what it costs to produce it. It is true that the cost of production as an element in computing the true value should not be lost sight of; but we think it more correct to say, the value of an article is what it will bring in market. The almost universal law, supply and demand, governs the labor as well as the produce market. It may cost the farmer of the Northwest 75 cents to produce a bushel of wheat; but if, owing to a limited demand, he can obtain but 60 cents for part of his crop and, at a later period, owing to unusual demand, 90 cents for the remainder, the cost of the wheat continues at 75 cents, while the value is respectively 60 and 90 cents So with human beings," regarded, only as instruments of production. .The son of a rich man, whose training and edu cation cost $jo,ooo, if not trained to usefulness, is worth far less to the com munity than the son of a mechanic of small income whose whole cost has not exceeded $1,500, if the latter be a well instructed and skilled artisan. Trans port from Germany to a sparsely set" tied portion of the Northwest, two men; the one a healthy laborer, with limited education, whose life, support and edu cation has not exceeded $1,500, the other a highly educated man an archi tect but of inferior muscular develop ment, whose money cost was $20,000, As no demand exists for fine public buildings or elegant private mansions in that locality, the worth of the latter is far less than that of the former; while in one of the large cities, unless there is an over-supply of architects, his value will greatly exceed that of the other who can do nothing more profitable than carry bricks and mortar for the erection of a building which is designed and supervised by the architect. A saw-mill on Puget Sound has $500 whistle. Binnon VaAAnrr Vina nnrrhased piece of property in Tacoma which he will remodel and convert into a home for aged people. . VILLARD'S PROJECTS. HOW SOON HE HOPES TO COMPLETE THENORTH- i ERN PACIFIC. Presidpnt Hmr Villard nf tU- .... - ' J ' V. HIV Northern Pacific railroad, was in this city yesterday, and C. B. Wright, for- 1 - r . 1 1 1 , . uieny one 01 me Doara 01 directors, and now one of the largest stockholders in the Northern Pacific, invited a number of the Philadelphia stockholders to meet mm at rne mnn i.enarne 1 h House. President Villard. who is aoout undertaking a trip over the line ot tne road, gave, a very interesting account or me progress mat naa Dcen made, and read extracts " from re cent reports of the engineers. He said that the line would be onen within fifteen months from now from the Lakes to the Pacific, no matter what happened. . .1 1 . 1 1 . 1 Keierring to tne aetaiiea reports, ne told of the activity with which work was - bein? nrosecuted aloncr the line o r . a and the rapidity with which excavation was going on in the Uozeman 1 unnel by means of a shaft and labor at both ends. "An interesting feature of our work. said Mr. Villard, "has Deen tne enect of the Chinese Immigration Bill. We have suffered for want of labor. We had only 1800 men at work when we wanted twice as many, ami such was the demand that the price of Chinese labor had gone up forty per cent. within six months. When it was evident the Chinese bill would pass the six companies hastened to bring out as many Chinamen as they could. At one time we had oniv 1100 men at work of which 400 were Americans, and I ordered that all. the force which wi had at work for the Oregon Rail way and Navigation Company should he transferred to the Northern Pacific. Snnn the influx of Chinamen began to be felt and we now have 4000 men at work, and the Chief Engineer tele- graphs me that he has ordered 2000 more to be Dut on at once. We are nimhinc the line as fast bh we can, and I assure you, gentlemen, mar, no mauer what happens, we shall nnisn it wunm HOoon months. Mow." continued the sneaker, who evidently had the full sympatny 01 nis .nd .mm "l want to sav u woru auuivi'wj 1 thincr which has been brought up unpleasantly more than once that :. tK hiinrl nool.' That means the DrPffnn and Transcontinental Com 4 rimnanv which means to see the Northern Pacific through, whether the syndicate who have taken our nrst mortgage bonds care to take the reM . or t Thut enmninv renresemi m iuii iivii - 1 J . - , nnl,l lin nnital of X2C.000.000 in CBSh . r . .1 t f aooilltil and it has mat amuum assets, and it is by far the largest holder the Northern Pacific road, and looks for its profit to the success of the Northern Pacific road. We know that no great railroad can depend upon its trunk line without feeders. The great mistake of the Northern Pacific was when it let go of the Oregon Steamship Company and lusi me control ot tne ot, raui ana Pacific. It is true that the Ccispsny was poor and could not retain its owner shin hut if that had hern nottnihle it would now have been earning ten mil lions a year, the Union facitic has steadily develoneri thn territory trihtl. j - - r" - j - tary to it until the traffic which is strictly local nrings it 90 per cent. 01 us earnings. The Northern Pacific has not been able thus to develop the terri- tory wnicn rigntiuuy oeiongsuni, ana it has been compelled to sit idly by while the St. Paul, Minneapolis and . us t. Manitoba nas oeen paralleling it ana nuttin? out amirs to drain territory rightfully belonging to the Northern' The Oreeon and Transcontinental had too larce an interest in the North ern Pacific to permit the company 1 . 1 1 r .t: tnus to De nampereu. ror inn rcusun a contract was entered into by the :.. l.. ...i.:u ISOarUS OI tne two comuitmcB, uy winm it u aorreed that the Orecon and Trans continental should furnish the funds necessary to build the branch lines, which ought to penetrate tne ixorincrn Pacific territory. Your directors felt that they had no right to take your earnings for any otner purpose man to rnmnlrtA votir main line. Therefore they entered into the agreement, which will be more fully expiaincu in im circular, which you will receive In few days. Here President Villard read from the proot-sneeis 01 a circular K iuueri.1 The Ore. TV MIL I! ID '-'""'j gon and Transcontinental Company. propose to rurmsh me money 10 uunu ...,. hranrh lines and only such as may be recommended by the engineer- ing department 01 mo iwnutin railrnflil. The railroad comDany is to operate these lines, and after they have been two years in uperwvm antee their bonds to the amount of $ l ,400 a mile, which is equivalent to the inter est on $o,ooo a mile and sinking fund of one per cent. 1 ne uregon ana 1 is to nav the interest for the first two years and the Northern Pacific will ultimately become me, owner of the lines in fee simple. To raise the fundi for the construction of these lines the Oregon and Transconti-' nental will offer itforty year six per cent, gold bonds at ninety and will pledge not only its own asucm uui m traffic guarantee of the Northern Pa cific. Mr. Villard spoke at some length nf the branch UUUH Ul - lines as a means of making their land grant valuable, and wa greeted witn hearty applause , when he concluded. A few minutes wcrepcnt in social con versation and in makio him acquainted tk antemen nresent.and thecon- ference adjourned. Fhdaitlpha Prni.