nas shown by ofheial documents that the transportation for these services to the Pacific costs the Government annually the sum of $7,357,781; and this is an expenditure which is more likely under present circumstances to increase than decrease. Have the people of the United States no interest in diminishing this vast expense; and may not the Government properly give its assistance to private enterprise in an effort to secure a cheaper and less tedious means of transportation?

In the year 1850 a single firm of contractors transported for the Government across the plains, and principally to Utah, seventeen or eighteen millions of pounds of freight, for which the Govcrnment paid them about four millions of dollars. In this transportation they employed more than forty thousand oxen, and the same kind of work is being performed to-day, by oxen and mules, now less to Utah and more to New Mexico. Is this a day for oxen and mules to do so vast a work? No, let us lay down the iron rails and substitute the locomotive, with its power of the volcano and speed of the antelope, for the muscles of oxen and mules.

It

I have not undertaken to discuss the merits or demerits of the bill before the committee. I cannot hope to have a bill that will accord with my views in all respects. I do not expect it. I do not desire to enter upon this enterprise hastily or inconsiderately; but I do desire to see something practical done towards inaugurating this great work. It is too vast for individual resources. must, if to be accomplished, have Government aid. Let private enterprise be organized, encouraged, and assisted. I do not wish the Government to be involved in unprofitable experiments. I want the sagacity and economy of private interest to lead, and the Government aid to slowly and cautiously follow. In that way, if at all, this vast work is to be executed.

The generation that has the wisdom to devise, the enterprise to undertake, and the ability to construct a railroad connecting the shores of the Atlantic with the Pacific ocean, will be exalted in the annals of the nation. We may fail to do it, but it will be done; and I trust the time is not far distant when the black smoke of the locomotives by day, and their fiery sparks by night, marking a line across this continent, will show the great enterprise is accomplished.

Population and Value of Real and Personal Property of the United States, as returned by Census for 1860.

States.

Alabama...........................................

Arkansas.........................................................

California............................

Connecticut..........

Delaware.....

Population.

964,201

435,450

379,994

460,147

112,216

140,424

1,057,286

1,711,951

Indiana....................................... 1,350,428

Florida...

Georgia

[llinois...........

owa..........

Kansas..

674,948 107,206

Kentucky

1,155,084

Louisiana

708,002

Maine....

628,279

Maryland.

687,049

Massachusetts.

1,231,066

Michigan.

749,113

173,855

Mississippi.

791,305

Missouri

1,182,099

New Hampshire..

326,073

New Jersey..

501,214.398 156,310.860 467,918324

New York..

Obi

Pregoi

......................

52,465 2,906,115

Minnesota.

Normolina........................... 992,622

28.930,637 1,416,501,818 135,337,588 548 138 751

This central belt embraces within one million two hundred and fifty-six thousand eight hundred and five of the half of the whole population, and within $1,170,157,145 of the half of the whole wealth of the United States.

Mr. EDWARDS. I do not propose to address the committee upon this subject in any elaborate or prepared speech. I should be prevented from doing so, if for no other reason, by the seeming inattention of almost all present to a subject of even the vast magnitude of the one now under con sideration, and which is to be submitted to their determination. But, sir, I am unwilling that it should seem here that the West only, the extreme West, or even the great Northwest, or all combined, are alone interested in this great subject.

Sir, it concerns the East as much as it does the West. And although the discussion has been confined thus far to the gentlemen from the western portion of the country, I desire it to be understood that this subject has the interest of the East, and has attracted the attention of the East, as much as of the West, and that when the proper time shall come, and now, if it is the proper time, there will be a full coöperation on the part of the East to carry through this great national work that is to have so important an influence upon the future of this nation.

It is too late in the day for any gentleman to undertake to interest the House by attempting to demonstrate the importance of this great connection between the Atlantic and Pacific shores. Its importance is too obvious to make it necessary or proper for any gentleman to enlarge upon it in its details. And, sir, it is not only important, but, if

not already, is fast becoming a necessity, and an increasing, a growing necessity which will soon demand the application of the resources of the nation for its accomplishment if now delayed. It has become evident to all that this great railway connection between the East and West is only a question of time. We all know that the communication between these two great extremes is now circuitous; that it is indirect; that the intervery vening space can be traversed only by a large consumption of time. We all know that as the Atlantic coast is already fringed and bordered by cities, by population, and wealth, sustained by a breadth of interior country which time has gradually enlarged and improved by settlement and cultivation, and that the Pacific coast is becoming so fringed and bordered, and with much more rapidity than the Atlantic has been, by like population and wealth, by cities on the coast, and by towns and villages and settlements in the interior. We all know that by the wealth of that country, buried in the bosom of the earth, it is growing in importance with a rapidity unexampled in the history of nations.

And we know another fact, that between these two broad margins of population and wealth-the eastern and the western-there is an almost desert region of country, much of which will be exceedingly slow of settlement, presenting few inducements at present, even to the hardy and restless pioneer. It presents a dividing district, as it were -a barrier, almost-against the intercourse between what are to be the two great lines of population, of wealth, and commercial importance of the country.

It is to be the office of this Pacific railroad, when it shall be constructed, to overleap that barrier; to annihilate, almost, the distance between them, so that it will be of slight importance that they are separated by the space that intervenes.

Now, sir, it is in this point of view that this work is important, and it is in this point of view that it is necessary. It is necessary to the business of the country that there should be better facilities for transportation and for the transit of passengers. It is necessary as a facility for social and business intercourse, but I regard it as of much more importance in a political point of view.

If this Union is to be preserved, if we are successfully to combat the difficulties around us, if we are to crush out this rebellion against the lawful authority of the Government, and are to have an entire restoration, it becomes us, with statesmanlike prudence and sagacity, to look carefully into the future, and to guard in advance against all possible considerations which may threaten the dismemberment of the country hereafter. From the geographical face of the country, when the great region of the distant West shall have grown to the size to which it is rapidly tending, when it shall begin to feel its sense of independence, unless the relations between the East and the West shall be the most perfect and most intimate which can be established-by reason of this vast interior space of almost uninhabited country which I have referred to, the empire will be in danger of breaking on the crest of the Rocky mountains, and of separating by the weight of its two sea-girt sections Then, sir, in this point of view, for the commercial advantages which it will secure, for the business relations it will establish and serve, for the political necessity which exists, and which, if not now, will soon be imperative-for these rea sons, I say that the East cannot but look upon this project with favor, and is ready at the proper time to give to it all their energy and all proper encouragement and support.

Mr. THOMAS, of Massachusetts. Let me ask the gentleman from New Hampshire a question. I put it to the gentleman whether, in his judgment. this is a judicious time to commence this work on behalf of the country? I would like to have an answer to the question.

Mr. EDWARDS. I will come to that directly. It is evident, Mr. Chairman, that this road never can be built by private means. It is too gigantic a work. Experience in this country in the construction of railroads has dissipated all the loose notions of profit which at one time were entertained from every enterprise of the k.. which could be projected, whatever might be its character, however visionary it may have been in its inception. The experience of the country has brought the people of capital down to a sober judg ment on this subject. They are not now prepared to embark their means in any enterprise which does not afford a reasonable, an almost certain, expectation of a profitable return.

Now, a word in relation to the aid which the Government should furnish for this work, when it should be furnished, and the extent to which it should be furnished. And this brings me to the consideration of the question addressed to me by the gentleman from Massachusetts, [Mr. THOMAS.] Sir, I would say of all other times for the last few years this is the time when we should be less likely to embark in an enterprise which will call for the resources of this Government than in any other. I have been disposed, representing a constituency who are economical in all of their notions and in all their habits, to withhold my vote thus far during the session from every appropriation which did not seem to be called for by the emergencies of the nation. If there was any amount of money necessary at the outset in this enterprise, I should consider it for the time a conclusive objection to the measure. But by the provisions of either bill no demand is to be made upon the resources of the country to any considerable extent for a long time to come, and therefore I am willing to vote for it if properly perfected.

Other gentlemen in this House will exercise their own judgment in relation to the effect of the provisions of this measure. I do not think the condition of the country is conclusive against the passage of this measure at this time, and the commencement of the road at once. If other gentlemen think there ought to be further consideration, and that the uncertainty hanging over the condition of the country should first be dissipated, they will vote accordingly. So much in answer to the gentleman from Massachusetts. For myself, if I shall be satisfied that a bill shall be perfected which will be likely to accomplish the purpose, with no other demands upon the Government than it shall now authorize, notwithstanding the condition of the country is as it is, I shall vote for the bill pledging the credit of the Government to the amount proposed, and trust to the future. I do not feel that this Government is to be subverted, that this nation is at the end of its career. not feel that the great internal improvements necessary to develop the country and bind it together are hereafter to be dispensed with. I have no conviction that hereafter we are to cease to increase and prosper as we have done in the past. I believe that we are yet again to move forward as a nation and are destined to reach a state of prosperity and power beyond the conception of those even who are the most sanguine under present discouragements. I shall not be deterred, there fore, from aiding in the initiation of this measur if a bill shall be perfected which is at all certus to accomplish the purpose.

I do

Now, in relation to the character of the pills which have been presented. I do not propose to go into their consideration in detail. I think it is important, before the Government shall pledge an acre of its land or a dollar of its money, that it should be satisfied that the disposition they may make of the one and the other will be effectual to accomplish the object proposed. This should not be left to uncertainty, nor should we be lured by any deceptive holding out of any that should be interested in the execution of this great work into a committal to contributions hereafter, further than those now to be stipulated.

From the little experience I have had in these matters, I have found where a work is undertaken, and where there is no ability to carry it through, either by a corporation, or what is still better, a Government to look to and to lean upon, a public work of almost any descriptio...s quite apt to come to a stand still at the point where it ceases to be profitable, unless it shall receive a new impulse from the source from which it first derived its strength. Now, sir, I do not believe that the land donated by the bill reported by the committee, with the bonds to be issued, will construct this road. I do not believe that $16,000 a mile on a portion, $32,000 a mile on one half of the road, and $48,000 a mile on a small portion of it, will construct the road through from east to west, taking into view all the difficulties of the route. The lands, it will be understood, are only of a nominal value in the central region of the country, a portion hardly of value at all. They will be, therefore, with the exception of lands nearest to the termini, unsaleable for any purpose of constructing this road, and unless, therefore, there be some sufficient guarantee by the provisions of the bill that there will be an entire completion of all that the bill stipulates on the part of proposed grantees, it will be admitted by all that we should not be justified in placing the funds and property of the Government at their disposal. If the bills, either of them, do provide for this assurance, this guarantee, I shall give to it my vote.

There are two bills before the House, as I understand-one the report of the committee, and the other a substitute moved by the gentleman from Illinois, [Mr. LOVEJOY.] I am willing to aid in perfecting both the bill and the substitute; and after they shall have been perfected as the friends of each may desire, or as the House shall determine, I shall, of course, give my support to the one which, in my judgment, will be most likely to lead to the certain accomplishment of the great object in view.

Renewing, then, in conclusion the expression

of an earnest desire that the wishes of our friends from the Pacific coast for improved facilities of intercommunication with the earlier settled sections of the country may be fully realized at no distant day, I relieve the committee from any further participation by me in this discussion."

Mr. POTTER. The gentleman is very noncommittal. Is he in favor of any bill for the construction of a Pacific railroad? I would like to understand the gentleman's position exactly on this ground.

Mr. EDWARDS. I will answer the gentleman very frankly. I am in favor of a Pacific railroad bill, and in favor of Government aid in constructing a Pacific railroad under any proper bill. I rose, however, to state the general principles by which I shall be governed upon the general subject, rather than to indicate my action upon these particular bills. This I may indicate when the bills shall be considered in their details.

Mr. WILSON. I do not propose to go inte

.scussion of the general subject involved in this measure, and I shall occupy the attention of the committee but a few minutes in suggesting some of the objections which I have to this bill, and in bringing before the committee some of the amendments which I propose to offer.

I need not say that I am in favor of the construction of a railroad to the Pacific ocean, for the unanimity among my constituents in that regard would compel me to favor a measure of that kind even though it might run counter to my own judgment in some respects. I desire, sir, sincerely desire, the accomplishment of this great work at as early a day as practicable, and because of this desire, I shall endeavor to place this bill in such a shape by amendments as will secure its object, and at the same time remedy its objectionable features.

We were told a few days since by the chairman of the special committee, [Mr. CAMPBELL,] who reported this bill, that it was substantially the Curtis bill. Since that announcement was made by the chairman of the committee, I have been dilligently studying this bill in connection with the Curtis bill, to discover the similarity existing between the two. Thus far, I have not been able

to make the discovery.

MESSAGE FROM THE SENATE.

Here the committee rose informally, and the Speaker having resumed the chair, a message from the Senate by Mr. FORNEY, its Secretary, announced that the Senate had passed a joint resolution (S. No. 77) for the relief of the officers, non-commissioned officers, and privates of the battalion of marines on board the transport Governor on the 3d of November, 1861; and a bill (S. No. 271) prescribing the qualifications of electors in the cities of Washington and Georgetown in the District of Columbia; in both of which he was directed to ask the concurrence of the House.

The Committee of the Whole on the state of the Union then resumed its session, and proceeded again to the consideration of the

PACIFIC RAILROAD BILL.

Mr. WILSON. The first section of the Curtis bill, as it is called, provided—

"That to insure the safe, certain, and speedy transportation of mails, troops, and publie stores from the western border of what is called our western States, by railroad, to wit: starting from two points, one on the western border of the State of Missouri, and the other on the western border of Iowa, with two converging lines bearing westward and uniting within two hundred miles of the Missouri river, and thence proceeding by a single trunk line, by the nearest and best route and by the vicinity of Great Salt Lake, to the city of San Francisco, or to the navigable waters of the Sacramento," &c.

Now, sir, that bill does not determine or place it in the power of one corporation, whose organization was contemplated by it, to determine where the eastern terminus of the main trunk of the Pacific road shall be. It leaves the location of the road open to the competition of the several rival routes, though its friends believed the Platte valley route would be selected. It does not provide a barrier against the construction of either of the branches embraced in the section. It presents merely a scheme by which a railroad to the Pacific ocean, with the two branches mentioned, may be constructed. The bill reported by the committeeand the section to which I shall refer is retained in the substitute-provides, in the eighth section,

that

"The line of said railroad and telegraph shall commence on the western boundary of Kansas, or at the one hundred and second meridian of longitude west from Greenwich, at the termination of the Leavenworth, Pawnee, and Westrn railroad and telegraph line, as herein provided, to meet

and connect therewith as herein provided; thence running westerly, upon the most direct, central, and practicable route, through the Territories of the United States, to the eastern boundary of the Territory of Nevada, there to meet and connect with the Nevada railroad line across the Territory of Nevada."

Now, sir, so far as the point at which the main trunk shall start is concerned, it is placed entirely within the control of the Leavenworth, Pawnee, and Western Railroad Company, organized in the State of Kansas, or rather, I think, under a territorial act of Kansas before it was admitted as a State; and in this connection, inasmuch as this power is placed in the hands of that company, I desire to receive some information, and to have it imparted to the House by the chairinan of the committee, in relation to the powers conferred upon the Leavenworth, Pawnee, and Western Railroad Company by the charter which it received from the territorial government of Kansas. I ask the gentleman from Pennsylvania whether he can inform the committee what powers are conferred upon that corporation, where it is required to commence the road, by what points it shall run, and at what point upon the western border of Kansas it shall terminate?

Mr. CAMPBELL. I consider the gentleman's inquiry entirely apart from the question before the committee; but I will, to the best of my knowledge on the subject, answer it. The committee were satisfied, from information derived from the Representative of Kansas, [Mr. CoNWAY,] who, unfortunately, is very ill and unable to be here to-day, that this company was a substantive valid company, with corporate capacity sufficient to go on and construct the road through Kansas. As we were not adopting any route fixed by that company, and had nothing to do with any local route fixed in their charter, of course we did not pursue the inquiry any further than to ascertain that there was such a corporation, with ability to go on and construct this road. We do not adopt any route which the State of Kansas may have fixed in the charter of that company. We fix the starting point, and then authorize them to go on, by the nearest, most direct, and practicable route, to construct this part of the Pacific railroad. Having nothing to do with the road they were authorized to construct in their charter, we made no such inquiry.

Mr. WILSON. It is evident from the gentleman's answer that the committee, before they determined to place this power in the hands of the Kansas company, did not examine the charter of the company, and we are asked to support a bill placing this extraordinary power in the hands of a company of which we know nothing, and of whose powers we have no information; nor have we any knowledge that the company at the present time is a solvent one, or that it has taken any steps to carry out its organization.

Now, sir, I say that so far as this bill is concerned, this Leavenworth, Pawnee, and Western Railroad Company is the pivot upon which the whole system of the bill turns. The gentleman says that they have not provided by this bill that this company shall have power to determine the starting point for the road to be constructed by the Union Pacific Railroad Company.

Mr. CAMPBELL. I made no reference to the Union Pacific Railroad Company.

Mr. WILSON. The gentleman misapprehends

Iowa; and it provided that the road should be constructed by the nearest, most direct, and practicable route to San Francisco or the navigable waters of the Sagramento. Now, I call the gentleman's attention to the fact that the only difference between this bill and the Curtis bill is, that we fix on the point on the western border of Missouri, to wit: Kansas City; but do not fix upon the point in lowa; and then we adopt the language of the Curtis bill, that the road shall be constructed on the nearest, most direct, and practicable route to San Francisco or the navigable waters of the Sacramento; and the Kansas company cannot change that direction or location.

Mr. WILSON. The Kansas Company will not change the direction or location of that road, provided the western terminus of the Kansas Company is fixed by their charter; but then their charter would determine it. But I say that this bill places it in the power of that Kansas Company to determine the point at which the Union Pacific railroad shall start, and I may say here, in illustration of that point, that I have diligently studied this bill, and it has required the preparation of twelve or thirteen amendments, applying to the different sections of the bill, to root the contract of the Kansas Company out of the bill. It runs through the whole system. They have tied up the power of determining the point at which the main trunk shall commence in the hands of this Kansas Company. I am not mistaken in this, and to show that I am not, I will again refer to the section which I have already quoted, and which relates to the main line, the line of road to be constructed by the Union Pacific Railroad Company. The eighth section provides that "the line of said railroad and telegraph shall commence on the western border of Kansas, at or near the one hundred and second meridian of longitude west of Greenwich, at the termination of the Leavenworth, Pawnee, and Western railroad and telegraph line, as herein provided."

Now, sir, it is at the termination of that railroad that the main trunk is to commence, and wherever that road may terminate-it having to be constructed before they commence the construction of the main trunk-there will commence the main trunk provided for in this bill. A provision of that kind utterly shuts out from compe tition for the location of the main trunk the great Platte valley route.

Again, sir, suppose that the Leavenworth, Pawnee, and Western Railroad Company should construct their road so as to strike the western boundary of Kansas midway between the northern and southern boundaries of the State, where is the main trunk to commence? If they should select the central or the Kansas and Colorado route, they not only thereby determine the route of the main trunk, but by that selection determine that the Iowa branch road shall not be constructed at all; for the lowa branch could not make a connection in the distance limited by this bill. If, on the contrary, you provide that the branches shall come together at a point in the Platte valley, you render the construction of both branches practicable, because the Iowa branch may pursue the route of the valley of the Platte river, and the Missouri branch can pursue the valleys of other streams running from northwest to southeast, and emptying into the Missouri river on the borders of Missouri. if the plan of this bill is to be carried out, you defeat the Iowa branch, as before stated, and the committee would there place such a barrier in the way of the Iowa branch that it would never be constructed; and I wish to call the attention of the committee to the fourteenth section of the bill

But

reported by the select committee, and which is also retained in the substitute, It is as follows:

"That the Dubuque and Sioux City Railroad Company, the Cedar Rapids and Missouri Railroad Company, the Mississippi and Missouri Railroad Company, and the Burlington and Missouri Railroad Companies of Iowa, or such of them as may associate themselves together for that purpose, are hereby authorized to construct a single line of railroad and telegraph from a common point to be agreed upon by said companies, or any of them, from a point in the State of Iowa not further east than a line extending due north from Kansas City, westerly, not to exceed three hundred miles in length, and as much less as may be found practicable, to a connection with the line of the said Kansas Company, upon the same terms and conditions in all respects as are contained in this act for the construction of said railroad and telegraph line first mentioned."

It provides further that each of said companies shall file their acceptance of the conditions of this act in the Department of the Interior within six months after the passage of this act; a failure to do so on the part of one would deprive the remaining companies of the power to construct the branch, even though they might be able to agree on some common point. A mere statement of the lines of the Iowa railroad companies will show that it is impossible for them ever to agree on a common point from whence to commence the construction of the Iowa branch. The route of the Burlington and Missouri River Railroad Company passes through the second tier of counties from the southern border of the State. The Mississippi and Missouri road passes through a portion of the third and fourth tiers of counties. The Cedar Rapids and Missouri road passes through the fifth tier of counties from the southern line of the State; and the Dubuque and Sioux City through the sixth. All are required, by their land grants, to commence at certain points on the Mississippi river, and to have their termini at certain points on the Missouri river. The companies cannot change their routes without a loss of their land grants, and without a violation of their charters. They cannot, therefore, unite on a common point on the Missouri river.

Then again, sir, this section does not provide that the Iowa branch shali form a connection with the main trunk; but it provides that the connection shall be formed with the Leavenworth, Pawnee, and Western railroad line, thereby putting it within the power of that company to fix the conditions on which the Iowa branch may connect with it. Therefore the Iowa branch may, under the regulations that may be established by the Kansas Company, be almost entirely excluded from the benefits which should arise from a connection with it.

Now, Mr. Chairman, I am not merely representing Iowa interests when I claim that this bill shall be changed in these several features, but I am representing the interests of all those great lines of railroad leading from the Northeast, through the middle and western States, to the western boundary of Iowa. All these lines will, by Iowa being deprived of this branch road, be deprived of their connection with the main trunk proposed to be constructed by the Union Pacific Railroad Company. To remedy this evil I shall, at the proper time, propose an amendment, which I hope may be acceptable even to the committee which reported this bill. I will propose it as a substitute for the fourteenth section, which congregates together all these conflicting railroad interests in the State of Iowa. It is as follows:

Strike out all after the word "enacted" in the first line of the fourteenth section, and insert as follows:

That the said Union Pacific Railroad Company are hereby authorized to construct a single line of railroad and telegraph from a point on the western boundary of the State of Iowa, westerly, upon the most direct and practicable route, so as to

formaconnection with the line of the said Kansas Company, at some point not more than two hundred and fifty miles from the point of commencement on the western boundary of the State of Iowa, upon the same terms and conditions in all respects as are contained In this act for the construction of said railroad and telegraph line first mentioned; and said Union Pacific Railroad Company shall complete one hundred miles of the road in this section mentioned, within two years after filing their assent to the conditions of this act, as by the terms of this act provided, and at the rate of one hundred miles per year thereafter, until the whole is completed: Provided, That a failure upon the part of said company to perform the obligations imposed on it by this section, shall forfeit to the Government of the United States all of the rights, privileges, and tranchises granted to and conferred upon said company by this act.

The idea is simply to confer on the company that is to be required to build the main trunk of the Pacific road, the power to build the Iowa branch, and to require its completion at the hands of that company. The other branch will doubtless be constructed, because it is the pivotal point on which this whole system depends. I ask, then, that the great interests connected with the Iowa branch shall be so far protected that the people in that State, and all others connected with them by interest, may participate in the benefits of this great improvement.

I

may here suggest another amendment which I understand will be offered by another gentleman, and to which I give my assent. I would even prefer it to my own. It is to provide by this bill for the construction of one great line of railway, commencing at Fort Kearney and running through to the Pacific ocean, and also providing for three branches, one from the western boundary of Missouri, one from Iowa, and one from a point north. Let the amount of bonds to be issued to these branches be less per mile than is provided for in this bill, so that the aggregate amount for the three branches shall not be more than the aggregate amount provided for the two branches, as the bill now stands. With that I shall be perfectly satisfied. I do not want to shut out the interests of Missouri, nor the interests of the great railway lines connecting Missouri with the East. This improvement is one of not merely local interest, but of a common national importance, and our legislation should preserve this national feature, by providing with some degree of fairness for all the great interests connected therewith.

There is one other suggestion in regard to this bill which I desire to make. It is in reference to the corporation formed by the first section of this bill. Under that saction corporate powers are conferred on certain parties, as follows:

"And the said persons, their associates, successors, and assigns, or such of them as accept under this act the terms thereof, for that purpose, are hereby made and constituted a body corporate, by the name and style of The Union Pacific Railroad Company,' by which name they may acquire, hold, and convey real estate and other property, sue and be sued, have a coinmon seal, elect the necessary officers, make such by-laws, rules, and regulations as may be required for their government, in conformity with this act, and generally to do all and singular the matters and things necessary and lawful to be done to carry out the provisions thereof."

That provision constitutes this a close corporation. It excludes from participation in its benefits all except those who are named in the section, and those who may so far receive the favor of the corporation named as to be admitted, with their assent, into the corporation. I prefer to have this left open. I prefer, and would so provide, that books should be opened and kept open for a certain length of time in the several States having corporators named in the bill, in order that all citizens who may desire to invest in the enterprise may have an opportunity of doing so. In addition to that, I would prefer that the subscriptions