The daily union. [volume] (Washington [D.C.]) 1845-1857, 1853-02-27

purpose oil aiding IN The construction OF odn, lhe Ju,
dclion remaining not in them, but in the States whch
permitted it, and General Jackson said that ~ may DC
doubtful whether precedens had not established IL 80 iai
but at the same time ne expressed hls regret IN lha
orabe passage in which he says that these Things snow
the danger OF ever departing from strict reading o ne
constitution.
Such, then. were the opinions OF Madison, Monroe,
and perhaps OF JACKSON upon this subject JEFFERSON
was known TO have entertained scler views IN fegafd
10 these questions | know that the case OF The Cum,
beand road has always been cited as an exception, and
il was an exception Ii was road for military purposes
II road designed for other things than commerce
And when il was manifest that It was no longer neces,
sary for military purposes and when Congress attempted
to claim just such jurisdiction this bill proposes 10
wres from the States, we find that Mr. Monroe inter
posed his veto He arrested the passage OF that bill Tor
some OF the very reasons which we urge against tins
But Mr. President the power of the federal government
internal improvements not the subject which
proposed to argue have not time now nor do mean
TO go into it, merely referred 10 the general doctrines
incidentally, because in showing the authorities in regard
to the position had taken what could be done by the
assent OF the States in giving power to the general gov
eminent, found authority upon the general subject also,
and was tempted for moment to enter into IT, But
shall proceed no further in that inquiry. however IN
vng il may be- nor shall pause to say how far my
self concur in the views of those eminent statesmen My
purpose is 10 analyze this bill. and to show what II is
that the committee has given u.s. what is that gentle
men have been censured as narrow minded and eIc'u-
sive for not supporting with all their might and with all
imaginable zeal what il is for opposition 10 which
have been threatened by the senator from Kentucky
with what the West is To do when il grows up into
strength and Importance. That West will, hope, grow
up into still greater strength and importance than
and when It has done 80, am no, afraid that any fair
minded or true son OF the est will Teproach my
friends for having voted against this bill. and endeav
oed to preserve intact the constitution for their future
use and government Let see. then, what is that
the bill proposes to do in regard TO the corporation
proposes in the second section
"That gh, of way exceeding three hundred feet
In width be, and the same Is hereby granted along The
through the public lands in the United States. be held
and apart for the and purposes of the said road and
other materials, OF whatsoever character and descp-
on on tho public lands in tho vicinity ct said road and
line, be, and The same hereby, made subject TO the
and purposes Of said road and ne well in the
construction thereof as in supplying the with
sary furniture and machinery"
They entitled TO the timber to the COAL and to the
stone. and to all the materials which may be fosnd
the public lands adjacent 10 the road. which may be
cessary either for the construction or the working OF the
road ad tnfaium There is no limit TO their charter,
period 10 the duration OF the company They may work
coal iron mine, if they discover one, for the pur
pose OF providing materials and means for running the
road. What else do they propose To give The corpo
ration alternate sections for miles in width each
side OF the road so lar as il passes through States,
and twelve miles wide within the Territories II
there are no such lands adjacent 10 the road,
they may go to the nearest point where the United
States have lands and lake them. /, proposes TO give
them that amount OF land, and IN addition S2000o,-
900 No exception is made OF mineral lands; and the
corporation may run through the mineral region OF Cali
forna and claim whatever rights the United States have
10 those ands and hold them. Not only they 10 have
these bu they are 10 have the road ITSELF and they are
allowed 10 issue stock 10 make that road Suppose that IN
stead OF selling the land they hold H. al least large part
OF IT, and issue stock upon the faith Of their property IL the
forfeiture should be exaced the only take
the railroad from them. II cannot take the lands which
have been appreciated in value by the construction OF the
railroads.&c. mineral lands which may fall 10 them might
be quite valuable enough TO induce them them
la such case there is no clause OF forfeiture IN this
bill which could reach their lands. Nor is there any
limit as 10 the amount OF lands which the corporation
may hold. the time for which hey may possess them.
They may the lands Tor mining purposes or Tor any
purpose that they choose know that there IS pro-
VISION that after thirty years the United States may
take the road upon certain terms. That 10 say,
"upon the payment TO tho said company OF the OF
The construction Of the same, allowing ten per cent profit
upon their Investments, deductng from the whole OF
said road the amount OF The bonds paid 10 the said
pany, and the proceeds OF the lands granted TO them
Now. II the lands were mostly reserved and the road made
By The issue OF sock, nothing would be deducted but The
money advanced IN the shape OF United States stock and
ha, received from The actual sale OF lands For the
United States then 10 obtain the road. it must give the
greater part OF the invested in the road in the shape
OF principal, and three times that amount Tor interest
that, II the road should cost hundred hundred
and fifty millions OF their own money, the United States
must pay ioaf tunes that amount TO obtain possession of
IT. leaving TO the company all the lands which they may
hold and all tho profits upon the OF the road for
hIrly years, which the friends OF this measure main
tam VIII be so large. Upon these terms 1t is manifest
that the Unlcd Saes would never take upon themselves
the burden OF the purchase Ot the road The United
States treasury would not bear such charge, and the
people would never be willing % sanction a measure
which hesped such inorduate profits upon The corpora
tors
Mr.. RUSK. II tn. senator viii read the bill be will
see that ~ ten per cent not the stock but the
actual investment oi these individuals.
Mr.. HUNTER | have read The bill, and think ii
the gentleman will read il over agein-
Mr., RUSk. | take occasion here to say that wrote
the bill; that read 1t over and again, ard stand
upon every line oil it,
Mr. HUNTER Very well, sir; let us see what il is
come, heu TO that provision. which is as follows
"And Congress may all time, to the tolls TO be
charged upon and irogh, with eco.
nomcai management OF said foad no. 10 reduce the profits
o. aa company below eight per cent upon the Investment,
deductng thererom the advances made by government
towards the construction Of the same"
In order TO do that, Congress has take The initiative
Congress has TO make itself acquainted with the receip.
and expenditures OF the corporation; Congress has 10 de-
tcfmne what is the amount which by this clause is 10
allow to the company, and 10 make ont clear case
against II under the contiguous grants OF this bill In The
hrs place. what are he advances to be deducted
to ascertain the residue upon which they are to have
clear prot OF eight per cent? Are they be reckuned
by the amount oil money advanced in stock and that de-
rived from The actual sale oil andsl II So they will not
only derive eight per cent profit UPON their own money
for the road but they will enjoy these unsod lands with
out making a corresponding reduction from their invest
ments II must be so II these lands are unsod, how
are you to estimate them so az 10 make the deduction
Will you value them at the time OF the passage OF the
BILL value them after they shall have been apprecia
ted by The construction OF the road Sir III is impossible
There is but sensible construction 10 be put upon IT,
and that is to deduct from il the advances in money.
Under this charter the company will have every tems
alton Of interest 10 hold to their lands, and they will
do ], as far they per cent upon their in
vestmentl Now will you measure this investment BY
the stock which they Issue the money that they obtain
Tor it With The means which such a company would
have fconcealng their operations and mysliyieg Con-