The daily union. [volume] (Washington [D.C.]) 1845-1857, 1853-02-06

" millions have been expended by the government, and
after perhaps nifty hundred millions nave peen ea
pended by private individuals would not the government
would be bese by this coporlion-ior eorporuoh y "
all inents and purposesand do you believe tha eon
gress would resist the application, backed oy me
OF such company, with such Interests az stahe
You sir, have enough-l have seen enough III 'ue
short period have been hereto know that any great
influential corporation company can bring means 70
operate upon Congress induce 10 oyersep Inc oouhas
Of prudence in making appropriations ana such "oui'
be the here . !,
But suppose they should go and complete i by the
aid thai government is lend in money and lands ana \
should be found out afterwards that the enterprise would
prove an unproflable one. Gentlemen may say mere
no danger OF that not at all sure that there 10
no danger OF that kind How are you 10 wastes
OF almost thousand miles where there Is no iuel 70 gem
motive power Are you sure that this great NOR
oughiare, when completed is Wdctcdole lot tne Put'
poses Of commerce - .
But, il is enough for that il is possible that II
may be Suppose it should be found Out 70 DC lu
practicable after the road had been completed why, si
hundreds OF millions would be expended huadreds o
thousands OF individuals would be interested direcly o
indirectly it. And, sir, do you suppose II hey were 70
come here and ask the government 10 take OH the hands
of the company the proposed IN the ninth section
of this bill that would be induced at length to 90
And who that has seen the operations OF such iniiu
ences here as those TO which have referred doubts
We know that seventy-iye years ago, one OF Eng
lands greatest statesmen projected scheme by when II
was designed to control the empire ana me government
refer to Fox's celebrated East India scheme. why,
SIR in comparison with this it was nohing--absoluely
nohing-and yet throughout he aimed at the government
Of England and il he had succeeded, he would nave
placed in his own hands and those OF his party the gov
eminent OF the country, and would have maintained u
there long they would have conducted II WIN pu
dence Such would be the here because this is
corporation. | do not how many individuals may
be employed in the construction OF this road, W now
many companies may be engaged in h their interests Will
be similar they will have The same object in view
there will be combination from one end OF i TO the
other; and all the interests embarked IN Il viii be COM
bne and when combined, do you suppose that Congress
could re sist the influence that would be brought to bear
upon them moneyed influence OF hundreds of millions
of dollars! Talk about Congress resisting an appca
ton ii it made TO take such work of their hands
in il found To be impTachcabe Undoubtedly,
such an application would be successful This is another
reason why am opposed TO the measure and perhaps II
is The main one
There are two things which should be ascertaned be-
fore embark in enterprise OF this magnituderst
by practical observations and reconnossances 10 asce
tain that such road is practicable and, second TO know
something like what lis will be, because not
that when this road has been commenced, and
several millions expended by the government, together
with Two three times as much by individuals. the bal
necessary or lis completion Will not be shoudered
upon the government The amount expended Will be an
argument for further aid upon the part OF the govern
ment, and calling TO their aid the influences which they
will possess, as have stated already, there be no
doubt that they would succeed in either saddling the
whole of their expenses upon the or a. least
in inducing the government 70 appropriate Literally and
largely towards The work. 1t is important, therefore,
Notwithstanding my honorable friend from Texas Mr.
RUsK believes that the bill before dscloses all that
the government will be called upon do in the construc
tion OF this road, that should look TO future conhn
gencies. Sir, am afraid OF ii want TO know before
begin how much the whole OF will cost, IN order
that may be that The government Is strong enough
10 bear the whole burden
These are the two reasons and, in my Judgment the
most powerful is the in regard TO the extent OF the
power OF this corporation and the control which Will
necessarily exercise over the government. Who ever
heard OF such enterprise before, spanning continent
three thousand miles in width, with territory larger
than the whole territory OF Great Britain and Ireland
larger than the whole territory of the Austrian empire
west of the Alps Who ever foreold-who can Judge
with any degree OF accuracy the amount OF power that
such corporation this would possess The honora-
bic senator from California [Mr. WELLERl said that
there corporation created IN the bill.
Mr. WELLER Wall my friend from Pennsylvania
allow me momentto explain
Mr. COOPER Yes, sir.
Mr. WELLER There were several senators who
opposed the bill which bad been originally introduced,
with the belief that it created corporation; aud had
understood that the select committee, In order to obviae
that difficulty. had made report presenting dieren,
feature; aud confess, when made The remark did
this morning, not OF the last section
tanned in the bill do regret the insertion OF that
act OF incorporation, for under the power which
il coniers upon tins company they can, If they choose,
almost unlimited control over the government
and, unless there be modification made TO
obviaie the difficulties which presented 10 my
mind, should hesitate long before would vote for that
bill in the shape IN which II is now presented. Not that
believe that il violates the constitution because there
IS proviso requiring the assent OF the States have
doubted the constitutional power oil Congress TO
incorporate a company in the Territories OF the United
States, that my opposition would be TO the creation
OF corporation with almos, unlimited power; for, il
there be not bank contained n that act Of incopora-
tion then am not able TO comprehend the English Ian
guage. | know there many banksln existence now
under acts OF Incorporation, as manufacturing com
panies where direct power is given TO issue paper
money nevertheless, your judiciary have decided that
they have the power TO do There rs general pow
er TO perform all which may be necessary TO carry
this road; and IT, in their Judgment the issue OF
hundred millions OF paper money be necessary they will
have the power 10 do II under that section.
Mr.. RUSK II the senator from Pennsylvania Mr.
CooPERl will allow me, would like 10 occupy moment
would be very glad il honorable senators IN attempting
to show the dangerous power that is contained in this bill
which is 10 read OF the democratic party, will
power is contained The senator from Pennsylvania
finds some thing similar TO Fox's East India scheme
Mr. COOPER No, at all the senator is mistaken in
suppo.ing that said any such thing.
MIR. RUSK. heard something said about Fox's East
India scheme controlling the British government, and
being insignificant compared with this However,
let that pass | want TO read the thirteenth section
lind Be IL furfhr enacted, That"
For wbati For banks' No, sir; but,
or the purposes of this act the contractors, their assoc
and successors hereby created and constituted
body polite and corporate by the name OF The Pacific
Railroad and Teegraphc Company by which they
may sue and be sued plead and be impeaded and ha
and enjoy ali proper remedies al law and In equity may
panize such officers they may deem necessary
and have and seal and they also open
book, certificates Of stock, and perform all other
acts necessary cary into effect"
What