The New York herald., 1871-01-10

pabic vsrue 10 ype goyerpnent sne people, and \
they could Ana ioeS enough 10 bmla aaasf shas
Not 81 he Cora or any other member Of Congress- nac the
slightest idea at any time OF engaging IN TINS greas
work under MAJ b as nnash Smenaea a. nav ,D se
neye, about half million, and the WORK progreessea s
for some months, when they got DISCOURAGED AUG
rather than risk more under these, Cir
cumstances. Mr. Ames was appealed to more
blls under witch the road was butt. remember
he called upon me and asked me to loyd him and
others and nit this enterprise cut OF emoarrass-
menls and try and put II through.
He urged upon me tue patnouo consideration OF
It's immense benefit TO the nangn, and the great
who were instrumental in Its completion. We all
felt tnat property managed it promised liberal
He went into It and invested with his brother
very large amount OF money, and most faithfully
have they Kept all their obligations with the govern
ment. They, with their associates. have built
iirst class road and thoroughly equipped II, ana
performed every part OF their agreement TO the very
letter and great deal more. They nave bullt ~ IN
half the time allowed and at an enor-
mously increased cost, compelled to DO SO 70
save their property in consequence OF tne bad
faith OF Congress. BY buiidiug this road they
have given many millions value TO the hail oi the
lands reserved by government, which before were
utterly vaiueless and must have remained so If the
road had not been built. the government saves In
transportation ana direct expenses spses. annually
amonts to-; and little did he or any one
think who was in Congress at the tlme those bills
OF the road completely realized, and the great
risk incurred by its projectors fully appreciated
prove faithless to their obligations merely because
they supposed It had proved q profitable
gress nave been deceived aud deludcd. There is
not one who would. like the Ameses, have kent all
their securities and fulfilled all their obligations TO
their associates. tlat could get to-day new dollar
for an old one, with interest added
To he sure II all these securities prove to be per-
fectiy good and the stock very reliable, as Mr. Ames
and his associate, who are thoroughly posted
as to all their ms and outs, confidently believe
they will be at no remote PERIOD, tnen indeed
VIII they realize a liberal remuneration for their
/ investment; ana where Is the man. with
American tsa near. IN ms 6osom raa1 can
ruthessly sssailed and never were any entitled TO
more credit anything is TO be allowed for acts and
enterprises productive vi sucl prouigous ana bene-
cent results. i know that tlmid capitalists shake
their heads and exclsim, what bold man how un.
wise l complain not of tins. This is well for them,
but we are not all made alike. History records that
| the merchant, statesman and great patriot o. the
sustained the American army by his personal
means aud credit in Its darkest hour OF adver sty,
and when he gave his personal Obligations ior 1our
| teen hundred thousand doars-an immense sum
| In that day-to keep the army from starving, the
tmil merchants and capitalists OF Philadelpnia
| exclaimed, 'What bold man how unwissW lie
made himself poor, 70 be sure and was imprisoned
| Tor deot, but the name and memory OF Robert
| second only TO Washington. Who can tell me 10
day the name OF any one OF the most eminent oi
| those timid merchants and capitalists Of Plila-
! deiphlaS
When Mr.. Alley had finished, Mr.. Han. OF the Ire
mont Bank, moved that the report OF the committee
be accepted, and George B. Upton followed in sup
port OF the notion claiming that II the estate went
into insolvency IT would damage the prospe ctsof The
creditors and greatly AFFECT the Industrial Interests
OF the State by the stoppage OF their various ana eA
tensive branches OF manufacturing
Mr. Otis, of Barnstable believing that none or the
creditors would ever lose dollar, thought, now
ever that as there were many creditors VINO We're
not here 1t would be wise 10 appoint trustee, or
perhaps, committee TO look after the interests OF
the creditors.
Both Mr.. Hall and Mr.. Alley opposed this motion,
though the Messrs. Ames were willing II should De
adopted, and the motion was Withdrawn: after
which the report OF the committee as originally pre-
sented. was adopted by a unanimous vote, and tie
meet1g then dissolved, the leading creditors nav
ing SieviouslY signed an agreement Tor extension,
as re commended by the committee.