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.