New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1866-05-02

Mr. Farnsworth made an argument against the
bill, referring to the active eXertions of the lobby
in manipulating the Chicago board of trade and
procuring from it circular requesting members
from Illinois to vote for the bill. He had made .
computation of the amount for which the United
States would be liable under this bill, and the
amount was S6,9O5,00O ~ He sent down to the
desk and had read the extract from pamphlet
published by the directors of the company, esti-
mating the value of the land granted at SI73 $780,
000 and the entire cost of the road at S120 goo 600
leaving to the shareholders clear profit of 1888,
Goa, 900. This, he said, was the representation by
which the company wanted to attract capital, and
yet it comes to Congress now, asking further sub
sides. The object sought for in the passage of
the bill was speculative one, in order the direc.
tors might sell out as others had DONE He did
not believe the country needed a second railroad
to the Pacific, and he thought it better that the
600 asked for should be used in digging a
canal across the lsthmus connecting the waters of
the Atlantic and Pacific. He had not the slightest
idea that this company would build the railroad.
1t would simply sell out its charter. The company
had sold its interest for Sl60000 andtheir charter,
after the passage of this bill, would be worth
millions of dollars. When he saw the eXertions
made by lobby agents and unprincipled adyen-
turers, he distrusted the whole thing.
MIR. Randall said there was warrant in the Con
stttutlon tor appropriating money for such pur-
poses.
Mr.. Dodge addressed the House in support of
the bill. The grant of lands made to the company.
was good bargain, if those who had it had been
able to carry out the project but they fouad that
the moment they presented their project to CAPT
talsts the objection was made that ten, twenty or
thirty millions would have to be spent before the
lands would be made available. The consequence
was, they could not get American capitalists to in
vest in it, though they could get British capitalists
to do so. Some of the best railroad men in New
England, however, had met at Worcester, exam.
lned its charter, and determined, if possible, to
PREVENTS passage into the hands of British capital
lists. He believed the interests of the country
demanded the completion not only of the Central,
but of the Northern Pacific railroad.
Mr. Washburne (Ill.) made speech against the
bill, denouncng it as the vastest greatest, and
most gigantic scheme of public plumber ever
brought into the House of Representatives. He
warned members on the republican side of the
House that they would be held by their constitu
ents to strict account for their votes on these
stupendous appropriations of public money, and
for such objects. He gloried In the spirit which
Governor FentOn of New York had shown in put
ting the knife Of veto into the corrupt and rotten
legislature of that State and for which he deserved
monument from the people. If the National
Executive would stop yetoing freedmen's bureau |
bills and civil rights bills, and veto some schemes
ofegisaton that were likely to pass, he would, |
to that extent receive the gratitude of the Ameri
can people.
Mr.; Wentworth-He is going to do it, too.
(Lsuhter.)
On motion of Mr.. Stevens, the Senate joint reso-
OF collecting the revenue from customs, was taken
from the Speakers table, read twice, and referred
to the Committee on Appropriations
Mr.. Eldridge presented memorials in reference
to ship canal through the State of Wisconsin
Lake Michigan with the Mississippi .
declaring it to be the duty of Senator Doottle to
resign. The latter was referred to the Committee
On Reconstruction.
The House, at 8 O'Clock, adjourned.