The New York herald., 1875-11-30

With the subject OF this railway The difficulties in The
way oi building i were great and were by many
Intelligent persons considered unsurmountablc, al
though free people, when II resolves on course Of
action, can accomplish great results. The scheme OF
building railroad 900 miles in length over deserts,
across mountains and through country inhabited
by indians Jealous OF intrusion on their rights,
was universally esteemed at the time to be
bold and hazardous undertaking. IL IS nothing
TO the purpose TO say that the dilhcu!tes
in the way Of the undertaking disappeared in great
measure after trial and that tho road constructed
al less cost Of time and money than considered pos
slble. No argument can be- drawn from wisdom that
comes after the fact Congress acted with reference 10
state OF things supposed to exist at the time,
and no idea can be derived in the con-
struction OF legislation from the consideration
that the theory on which II proceeded turned out not
To be correct The project building the road was
not conceived Tor private ends and the prevalent
opinion was that could not be worked out by private
capital alone. 1t was
NATIONAL WORK,
originating In national necessity and requiring ma
uohal assistance The policy OF the government, 10
say nothing OF the supposed want OF power. stood in
the way Of the United States taking the work into its
own hands
even # that so reasons OF economy suggested
that II was better to enlist private capital and in
dlvdual enterprise. This Congress undertook to do,
and II was believed that tho inducements held out
such as would secure the necessary capital and enter
Prise but the purpose was to promote the
essential to the security OF great public
interests. IL is true the scheme contemplated
profit to Individuals for without reasonable expecta-
ton OF that capital could not bo obtained nor the
requisite skill and enterprise. But this consideration
does not in itself change the relation OF the parties
this suit This might have been so II the govern
ment had incorporated company To advance
private interests, and had agreed to aid it
count of supposed incidental advantages which would
accrue to the public from the completion of the
prise but the government proceeded wholly differ
ent theory il sustained the erprse to advance it's
own interests and 1t endeavored to enlist private
capital as to the end OF securing the building of
road which to be used for purposes
Whatever obligation, therefore, rested the company
must aepeno upon the true meaning OF the enactment
ITSELF viewed in the light OF poraneous history
IL has been observed by this Court that the title OF
an act, especially in Congressional legislation, fur
nishes little aid in the construction of IT, because
the body OF an act IN so many casos has no ref
erence TO the matter specified in the title This is
true and we have no disposition to depart from that
rule. But tho title even in the original act of
1862 Incorporating the company, 10 have
been subject of especial consideration by Congress-
and in terms declares the general purposes of the
1t IAN act aid the construction OF railroad and
telegraph line from the Missouri River 10 the Pacific
Ocean and to to the government the use OF the
same for postal, military and other purposes "
That there should, however, be no doubt of
tn. national character OF the work which Congress
proposed to aid the body of the contains the ex
preston that Its object is to promote the public
interests and welfare and to secure To the government
at all times, but particularly IN time OF war, the
and benefit OF the same for postal, military and other
purposes. Indeed the whole act contains unmstak-
able evidence that If Congress put to the
necessity of accomplishing this great public enterprise
through the nstrumentalty OF private corporations it
took care that there should be misunderstanding
either as to the objects to be accomplished the
motives which influenced its course in the
matter If this bill had been equally explicit
in relation TO the bonds there would have
been no occasion for this SUIT But even in that
particular looking at the motives which led the act
we do not think there is any serious difficulty in get
ting at
THE TRUE MEANING
of Congress. The itself was an experiment and
should be considered in the nature of
proposal for inducing men to engage in
the capital with the untricd obstacles in the way could
be enlisted II enlisted at all it could be only con
ditions, which would insure in case OF sue
remuneration prOpOrtOned IL the
incurred. IL preferred that inducement in the
way of bonds and interest bearing bonds of the
United States. There Is controversy about the terms
which the lands were granted and the only point
which there is any relates to the extent of
the obligations imposed the company TO pay these
bonds 1t is not doubted the government
Is to be reimbursed, both principal and
interest, but the precise question for decision is
whether the company Is required to pay the interest
before the maturity OF the principal The solution Of
the question depends upon the meaning of the fifth
and sixth sections OF the original act OF 1862,
and OF the sixth section of the aInendatory act
of 1864 The fifth section Of the original
act contains the undertaking on the part
Of the government, and the sixth section
defines the objects OF the company quoting the fifth
section The manifest purpose OF the NTH section is
take lien OF the property of the company for the ult
mate redemption of the bonds, principal and interest
but the way and time left to further provisions
That the government expected in the first instance
to pay the interest is clear enough Tor the mortgage
taken TO secure the repayment of the loans,
gether with all the interest thereon paid by the United
States, and this phrase implies prior payment by the
United States, whatever might be the duty OF the
poratlon in regard to its repayment
Besides this when repay ment IS spoken of IL Is
derstood that something advanced by the United States
is 10 be paid back Apart from that, had It been the
Intention of Congress that the corporation itself should
pay interest on the bonds il fell due phraseolosy
appropriate to such purpose would have been used
when and how the reburscment was to be made, was
TO be in conformity with the terms prescribed in
another portion OF the act In the latter part the
fifth section the Secretary OF the Treasury empow-
cred to declare forfeiture and TO take possession
o the road the failure of the corporation to redeem
said bonds The obligations imposed the company
assumed by IL in reference to the repayment OF the
bonds, set forth entire in the sixth section Quoting
il az argel
Leaving out Of consideration the parts OF the section
which pertain TO the present inquiry there are
three things, and three only, which the corporation IS
required to do concerning the bonds in controversy
FirSt-To pay said bonds at maturity
Second-To allow the government to retain the com
pensaton due to the corporation for services rendered.
and apply the to tho payment OF the bonds and
7hird-To pay over to the government after the
road has been completed five per of the net earn
ngs vf the road to be applied TO the payment of
II we take the language used in its natural and OBJ
vous sense, there be no difficulty in arriving the
meaning Of the condition, ITO pay said bonds at ma
turltyn
AS commonly understood the word maturity in It's
application TO bonds and other similar instruments
applies to the time fixed Tor payment, which the
minaton OF the time they have TO The bonds in
question bonds of the United States. TINS oblga-
tion the government requested TO perform and as
the bonds we're issued and delivered TO the corporation
be sold for the purpose of raising money carry on
tue work, " Is lnssteu hat congress must nave IN
tended to impose corresponding obligation on the
poraton.
In support Of that construction 1t sought give
the word maturity double Specification; applying
II to each payment of interest as it falls due well as
10 the prncpal but this Is extending the application
OF the word beyond its natural and obvious meaning
and is contrary all legal rules Courts cannot sup
ply Deficiencies in legislation, afford relief because
deficiencies supposed. On this point Justice DAVIS
quotes from Lord the Chief Baron OF Ireland the effect
that general rule respecting gntcrprcationsofdceds
ali latitude of construction must be restricted merely
the Interpretation OF the words that IL courts
step beyond that they longer mens deeds,
but
MAKE DEEDS FOR THEM.
This rule continued Justice Davis, is applicable to
the language of statute IT is tho language
OF deed. The phrase, "to pay bonds
at maturity does not bear the sense
sought to be attributed to IT, II applies obviously to
the obligation to pay both principal and interest but
1t does not imply the obligation pay the interests
they accrue aud the principal when due IL is
thing TO be required TO pay principal and interest
W hon tho hnnds attain nainrliv and L. nnitn |