21st, $216,316 18
had been collected and expended.

"The land grant made by Congress is of great value. The portion of the
road to which it attaches, extends from Grand Rapids to Little
Traverse Bay; the precise length of which is, as adopted by the proper
departments at Washington, one hundred and eighty-two miles and three
thousand and sixty-seven feet. Under the rules of adjustment adopted
by the department, the quantity of lands granted will be somewhere
from 600,000 to 674,161 acres.

"These lands are generally timbered farm lands--of the best quality,
in timber, soil and water. Some are pine lands, some pine and hard
wood mixed; and a small portion are cedar swamp lands. But there is
none too much of either description for the value of the lands and the
prosperity of the country. Nature has distributed and interspersed
them in such proportions as will best contribute to the support of a
populous and well improved agricultural country. The great bulk of
these lands are what are generally denominated 'beech and sugar-tree
lands.' The soil is generally rich sandy loam. The estimated value of
the lands, when the road is completed, has been put, by different
parties, from $4 to $10 per acre.

"The lands granted are the odd numbered sections within six miles of
the line; and if any such sections are sold or pre-empted, then the
company has the right to select other sections outside of the six
miles and within fifteen miles of the road, to make up such deficit.

"The odd numbered sections, outside of the six-mile limits, and within
the fifteen-mile limits, are set apart to this company, out of which
to select lands to make up any deficit that may occur in the six
miles.

"By those best acquainted with the value of these lands--and who are
familiar with that portion of the State--they are estimated at $10
per acre, on the completion of the road. This will give the company
the sum of $6,600,000. And if the road when fully equipped costs
$30,000 per mile, then the gross cost will be $10,500,000; which by
the proceeds of the land grant will be reduced to the sum of
$3,900,000, and will reduce the actual cost of the road to $11,142,85
per mile. Anything like fair success in the construction of the road
will enable the company to do it, after applying the proceeds of the
land grant, for about _eleven thousand dollars per mile_. Such a
result will not only give to the country all the advantages of this
much-needed work;