The North Missouri and Iron Mountain Railroads are linked in destiny by St. Louis bonds with the Pacific Railroad, and therefore the failure of one will bring discredit on the others. These three Railroads have raised the value of real estate in St. Louis county at least 100 per cent. The failure of one of them would lower the value of the same real estate, far beyond the amount now necessary to be raised for its support.

A subscription of $1,200,000 is called for by the Pacific Railroad Company to be taken in pro rata stock by the property holders of St. Louis county. The plan on which it is to be raised is called "Taxation"-a term as unfortunate as untrue. The plan should be called by the popular and fair name it deserves“EQUITY SHARES"-as, by the plan, certificates of stock are given for every payment made, and each property holder takes an equal amount of stock, with every other one in proportion to the value of his property.

In 1852, the population of St. Louis county, according to the census returns, was 121,853. The average amount therefore of the subscription of equity shares called for is less than ten dollars a piece for each inhabitant. And as only thirty per cent. of the same is to paid per year, the average amount of yearly payments on these equity shares, will therefore be only three dollars a year for each inhabitant.

On the hypothesis that the current value of the property in St. Louis city and county is $75,000,000, the man who owns $500 worth would have eight dollars of Railroad stocks as his share; and on the call of thirty per cent. per year, his yearly payment would be only two dollars and forty cents.

If the stock of the Company should be raised above par, these equity shares will be a profitable investment.

When, therefore, the proposition to raise $1,200,000 in St. Louis, on the plan of Equity Shares as above shown, is fairly examined, instead of being hard and repulsive, it is reasonable and easy; and the more thoroughly it is understood, the more popular it must necessarily become.

This system will also give an opportunity for each and every property holder in St. Louis to gratify an honorable pride, in the consciousness that he has done his duty towards this great national enterprise. Further, the spirit displayed by St. Louis in boldly sustaining and promoting this measure, will be felt and appreciat

ed, and will cause a kindred spirit to be manifested by the counties along the line of the road, between Jefferson City and the United States territory; and still further, this accumulated spirit will be felt in Congress and throughout the Union; and, besides raising the character of Missouri in the eyes of the world, it will bring an irresistible moral force to bear upon the destinies of the Missouri Pacific Railroad, which will carry it through, in spite of contending and opposing factions, along the route indicated by the finger of Destiny -"the route which scientific explorations shall show combines, in the greatest degree, the advantages of genial and temperate climate, fertility of soil, cheapness of construction and accessibility at all seasons from all portions of the Union." This is the route for Missouri. This is the route for the Continental Railway; and this route may be secured by the bold spirit of the people of St. Louis.

Railroads in Arkansas.

The State of Arkansas bids fair to distance the State of Missouri in the Railroad race, although the latter had fairly started before the former had entered on the course.

The Missouri Pacific R. R. was commenced at St. Louis on the 4th of July, 1851. On the 10th of June, 1852, the Government of the United States granted lands for two Railroads in Missouri, the sum of the length of which was about 500 miles. During the following winter, the Railroad system of Missouri was determined: being 5 roads and about 1,200 miles; and on the 9th of December, 1852, the first locomotive west of the Mississippi river, with its train of passenger cars, started from St. Louis and passed over the Pacific Railroad to near Cheltenham, about five miles.

Thus Missouri had fairly started on the Railroad course in 1852.

Then Arkansas was held bound by politicians on the dirt road track.

On the 9th of February, 1853, before the State of Arkansas had commenced any practical operations on any road, the Government of the United States granted lands for one Railroad and two branches in that State, the sum of the length of which was about 600 miles. During the past year, public Railroad meetings and

Railroad conventions have been called throughout the State, at which speeches were made, information gained, enthusiasm aroused, and resolutions carried, by which the Railroad system of Arkansas was determined; being 7 roads, and about 1,200 miles; and though the State was overwhelmed by debt, the gallant spirit of her people is giving and gaining means to secure and speed the prosperity of their entire Railroad system. The longest main trunk road in the State is the Cairo and Fulton. The next in importance are its two branches-the eastern branch being known by different names, according to the terminus contended for on the Mississippi, opposite Memphis, and at Helena, but which for convenience we will call the Mississippi and Little Rock R. R.; the western branch being known as the Little Rock and Fort Smith R. R.; which main trunk and branches extend about 600 miles, and are driven on by the planters and counties along their respective routes, aided by the grant of Congress above alluded to. The fourth road is called the Mississippi, Ouachita and Red River R. R., and sustains a similar relation to South Arkansas, that the Hannibal and St. Joseph R. R. does to North Missouri, running nearly due west. Camden and Fulton are main points on this road. The fifth and sixth roads are branches of the M., O. & R. B. road the one running south through Union county to the Louisiana line, the other north to Little Rock, forming the links of the South Arkansas portion of the Great Mississippi Valley R. R. from the Gulf of Mexico via the Iron Mountain of Missouri to the Falls of St. Anthony. The seventh road is called the Border Railroad, and is projected to connect with the Missouri Southwestern Railroad, near Springfield, and with the New Orleans, Opelousas & Great Western Railroad of Louisiana, near Shreveport. These four last mentioned roads are together about the same length as the first three, viz: 600 miles; the whole system of Railroads in Arkansas including as above stated about 1,200 miles. The first 600 miles are provided with grants of land by Congress. The last 600 miles is in a fair way of being provided for by similar grants; which, when done, and "twere well it were done quickly," will furnish Arkansas with grants of land for 700 miles of Railroads more than Missouri has been, or, from present appearances, is likely to be furnished with, although Arkansas has already received grants of more land from Congress than Missouri has, and although the State of Missouri contains over 8,000,000 acres more

than the State of Arkansas, and although the Government of the United States still holds nearly 7,000,000 acres more in Missouri than in Arkansas.

Thus it is that Arkansas bids fair to distance Missouri in the Railroad race.

We here quote a few items from the Little Rock True Demcrat showing the movement which has lately been made in Congress, and the practical operations along the line in favor of the Mississippi Ouachita and Red River Railroad, hoping in our next number to quote a letter from Senator R. W. JOHNSON, Author of the Cairo and Fulton Railroad grant and branches which reflects distinguished credit on the author and sustains us in the position we have here taken on the subject of Railroads in Arkansas. In Senate, Feb. 27th, 1854.

On motion by Mr. JOHNSON, the Senate proceeded, as in committee of the whole, to consider the bill granting the right of way and making a grant of land to the State of Arkansas, to aid in the construction of a railroad from a point on the Mississippi, in the region of Gaines's Landing, via Camden, to the Texas boundary, near Fulton, in Arkansas, which had been reported from the committee on public lands with an amendment, as a substitute, in the usual form.

The amendment was agreed to; the bill was reported to the Senate as amended; the amendment was incurred in; the bill was ordered to be engrossed for a third reading; was read a third time, and passed.

We take the following extract from a letter addressed us by a friend in Camden, Feb. 21st, 1854:

"On last Wednesday Capt. Tighlman made his report as chief engineer of the M. O. & R. R. railroad. It is an able paper and I will send you a copy as soon as it is printed. He estimates the cost of the road at $1,986,000 00, or $12,773 00 per mile in complete running order. We have placed 40 miles under contract and will break dirt as soon as the necessary implements can be procured from Cincinnati, where we have sent an agent to purchase them. The road bed is to be ready for the iron by the 1st day of March, 1854.

Our road leaves the Mississippi river at Furguson's bluff, about 4 miles above Gaines' Landing, crosses the Ouachita at Camden, and Red river about two miles below the cut-off on the lands of Judge Fort. Furguson gives us 60 acres, on the Mississippi, Maj. Bradley gives 143 acres in Camden, and Judge Fort gives 80 acres on Red river. If Col. Johnson gets our land bill through, and I think he will, our books are ordered to be closed, as we will in that event want no more stock."

LITERARY DEPARTMENT.

LITERARY NOTICES.

Among the many Internal Improvement, Scientific, Literary and other valuable publications we have received during the past month, we would call particular attention to a few from which we bave quoted. The American Railway Times, published in Boston, and the American Railroad Journal, published in New York, from each of which we have this month quoted important leading articles, are filled with valuable data pertaining to the Internal Improvement interests of the whole country. Neither sectional nor party influences seem in the least to sway them with the slightest shade of bias or of prejudice. They seem committed neither against the North, South, East or West, but devoted to the welfare of the whole Union, and what may appear rather singular, particularly interested in the prosperity of the Mississippi valley. We know that these works are already liberally patronized in the West; and from their standard character, we trust that the enquiring sense of the people of the Mississippi valley, will rapidly increase this patronage, thereby promoting both their prosperity and intelligence.

THE SOUTHERN QUARTERLY REVIEW published in Charleston S. C. was noticed somewhat extensively in our last volume; but we must say that the April Number of this year, is superior in value and in liberality of sentiment to its late antecedent Numbers. See the article quoted from this work on the "Material Progress of the United States," and ex uno disce omnes. South Carolina stock is rising, and we hope the Southern Quarterly Review, may meet, throughout the whole region of the west, with the generous subscriptions, which a high toned, civilizing periodical deserves.

THE MINING MAGAZINE published in New York, we have always highly appreciated, and lately particularly noticed. We are happy to see that this periodical is now turning its attention somewhat directly to the Mining interests of Missouri. We hope to see it soon opening its pages still more widely to this cause, and to hear that it receives as well as gives satisfaction.