, 1862-09-03

or three hundred prominent men OF standing
and character-not speculatora---Congress
money.
The speaker proposed the following amend-
ments:
FiTst-The bill gives no power to condemn
property. It YVES the first conception that the
road vent through Government landa, which
led to this omission. This should be reme-
died.
Second-There is no provision giving the
right TO mortgage the lands. Yon may wish
to raise few millions by mortgage, but there
is no provision to that effect.
ThiTd- There should be an amendment pro-
vidipg for further extension Of time In car
1yipg out the details OF the road.
FGurth-1he twenty FIVE per cent. reserve
ton on the bonds Issued for the.con6truction
Of the road over the Plaius undoubtedly made
for fear the money would be stolen, should be
remedied By placing it in the hands Of men of
high character and then the reserved rights
vii be granted.
Fi5th-It is q radical error In the bill that
government has reserved the right Of giving
preference to their business, telegr4phic,
postal and the transportation of troops. Sup
pose We should be Involved in continental
var and the road should be occupied for q
year or two exclusively for war transportation,
where is your money to pay employees aud to
devote to repairs aud other expenses? Gov
elDment should either pay for this right or
That provision should be 1econBidered.
Si1{h-Ihe government has the tight to the
profit On these bonds, due thirty years hence,
after the principal and interest are paid. 1t is
| the public opinion that these bonds will pay |
II thirty years. Ii this road is put into that |
highly respectable relation it deserves, Con- |
| grres will undoubtedly waive that claim. |
| Wren We build roads in the West we 60 to
| the East for customers. from whom we may
| raise money upon our first mortgage bonds,
| which are first liens upon the property. Gov
| eminent is building this road for its oWn pHr-
| poses, and axis Us to add our money to that
| Of the government, to complete the road and
run it 1or them. It is not the policy OF gov
eminent to guarantee the stock Of the road,
| but il is right and proper that when govern
1nent asks Subscriptions for its Own purposes,
We should have seven Per cent and the bal
| ance 70 to government
| After the railroad is started it will require
fcrty or fifty millions more than the amount
allowed By Government, to keep it going.
You can set q railroad running, but then the
work is only half done. Alter all the details
are worked ont, then the earnings come in.
| once asked Mr. Thompson, OF the Pennsy1-
vania Central road, why he built that Immense
} hotel on the top Of the Aleghanies. He re-
plled that he was afraid that two or three
trains might get stalled, In the winter and the
vent this, he had to build 1t, but not single
| train had been stalled since its erection. We
+ shall find undoubtedly, tronbles and obsta-
= cles in the Rocky Mountains and the Sierra
!. Neyadae, but there is little doubt they can be
= | overcome.
!. VIII the aid Of this further contribution,
with perfect charter Of this character, with
7. the allotment Of seven per cent Of the earn
l. inge to the stockholders after government has
;. started the road, capitalists w'h be glad tc
o take hold Of it.
!. / think these amendments comprise tht
n most essential points, and think there is M
doubt that when Fou act as whole and sug
d, gtst them to Congress, they will adopt stil
further provisions.
r. So lar IS the national point of view is con
~ cerIed. the States west OF the mountains hav
no complained Of the eastern ones for not comm!
: forward with such means as they had ant
making The connection ce tS2s ta;h w5h then; ths%
T. to an enlargement uischievous il
"a its consequences. the indifference upon tn
~ eastern side of the mountains, It continued
- 8ilI at last cause them to take their own fol
tunes in their hands and leave uB. This is
re vital point in which I feel the greatest in1e1
Mt. est, and we must assure them that we vi
T., make themselves and ourselves immedias
~ nelghbors.
As to it's Uses when constructed, the speakt
,hn ! pointed out the increased trade. Lines
steamships must run In connection with
from San Francisco. to Canton. Japs,
- and India These steamers laden vii
.f' silks, teas, opium, spices and other va1uab
all prCducts niake the voyage from Orient
ports TO California in twenty days, and t.
eco day after, the goods can be In New Yor
'er- Every New York merchant will prefer to e
po- his goods in thirty days upon bank dlscou
aes than to run the risks Of nine months Cal
sln, VOYAGE. Tbs route must command the traV
TO OF Europe to India and be the route for Il
Tas conveyance OF goods thence to England T
en- road will be without competition, with reg
OF Lar rates Of tariff, and can easily ear9 enou!
lo# TO make profitable compensation It can
easily buiIt and will cost less than many Ea
ern roads. We should here order the boo
to opened in the different cities, giving free 9
ting portunity to eyer5 body. In the meantl1
Ii promise Of $1,000 or 10000 aubscriptio
1rcm each one If they are adopted
TO Begging pardon for detaining you so l0r
:ers. the Convention will now proceed to bu
had Mr. McPuERsox nominated H. Y. Poor,
tent the New York Railroad Journal for Sec
ent, tary.
g Mr. GILMORE hoped the Convention vol
VINO gdjou1n. There we're large numbers CO
ps p tss be eTsa vote ssa9 ae Tna s
[tee ton to that effect. but 1t did not prev
nit" Bepj, F. Camp, Of New York, was put In nc
T., jnat1on, also Jrhn Z. Robinson OF Califor1
res Mr.. Ryan, Of California thought that th
and and thatkeomn,ittees on business and resl
rom tons should be appointed, and moved
for reference to committee. lengthy disc
gitat 1ht s1ou followed, participated In IN by Mes
n pc motion bling pnt on its passage, failed
taSe prevail
want Mr.. TnpDF, Of New York, moved to
9e1, ceed to the election OF Secretary by bal
~ but ut the suggestion Of Mr.. Ryan, amen
tva+4 sT t'to vote By calling the names.
80 An episode here occurred In which the
80 tues OF Jtderson's Manual we're discusse
proposition maIe to adopt 1t for their E
al 40 ance, another made that each member be
ment roso ~a.9 ~, 49, @: aaaa " ~ s. fSa - !
;inase s The Chairman In his opening address, and
t,anf cloring that there was no necessity Of asl
%AlSN' Congress for them. Tne Legislatures Of
uara States would gladly give charters for righ
mend W., yatia ~ ga 81. a1Ehs3o T,r,, ~
I It was not necessary to go to Congress tt
:" 4h.t ! the right to mortgage, for Congress cal
nnf;S rS give mortgages binding In the courts Of
States and Territories. It was not necea
:, IN . to ask Congress for extension Of time to
'1nnaa I ~ plete the road. That would be granite
ppo9S any time. In regard to the Is per cenl
vou7d ee1yation, the speaker said Congress
at the ,ae noes ~ nneAas S'1s, eaE ~ at ~
rna n' ~ - 4000-and s12 000 making total Of 81
lne ~ for each mile, It Was enough to begin
chs;, and we ought not to ask for more
,at3nna At the close Of Gen. Curtis remarks,
red to LIE LIE Six, a44 r Than V;hhard
AD1 - Gen. Schcnck, who were upon the floor,
,mana invited to the platform.
5,gru- d;aGru Mr. BUSHNELL of Connecticut moved
- ,,pr | appointment OF one from each STATE ant
;ehf a. r1lory represented, 10 constitute comn
i Wcra On busfntss.
- fro1o The vote for Secretary WIS then take1
these roce. With the following result:
are en- nv Poor.
bF. thmp--' '.......+..........-..--..--.-
m In. John d. hob1nson.
And the election Of Mr. Poor WIS det
relative unanimous,
! nriyi Mr. BUSHNELL renewed his motion #
nnea ! appointment Of a Committee on Bushes
;ailed. Mr. MoRRE11 Ct Pennsy ylvama moved
that into the election Of Treasurer, and Mr.
,atious nell withdrew his motion
Chair Mr. HAMMOND nominated Thos. ".
,e open of Albany, and Gen. Curtis nominated
no1ni- Cass. Nj. Cass declined, saying th
lily, he couldn't give security, and Mr. Olco'
cations fitted for The position without any eet
uid OBJ MI. olcott was elected By acclamstion-
Mr- Bushnell again renewed his 4
ed 1t as and it prevailed. The Committee va
:, Euse ,,n,n toe stituted as follows:
n At the Maine, John N. Wood; New Hampshire,
~ Ia;nT | 4 gilmore; Massachusetts, Edw r Tinker;
la!nno; y: =: fletchgri Cennecttcut; c. .
Of Mis- B. Ruegleti Pennsylvania, @. ". Csss:
We p. m. Anaea stohe; inalana, Samuel Hanna;
consin. J. Cst1in; Minnesota, D. Blakely
W.P. cool9a1gh; Ats5oala, ); cor6y: II
ntion to 31hp , Evans; ean1ofnaa' u " nalsi At
oeeeu ~ After an Invitation extended to the
sers Waa ueon BY the Chairman to spend the
at his residence, the Convention adiou
b;ct was 10 o'clock this morning.