Mr. TRUMBULL. If it were possible to get the attention of Senators for a few moments the Senate is very thin I should really like to call their earnest attention to the character of these bills. We are inaugurating a new sys tem, and we are doing it, I think, without sufficient consideration. If the Congress of the U.S. has made up its mind and I think we ought to have a full vote upon that question to charter companies to operate all over the U.S., in mining and for other purposes, our statutes will be swelled into vol umes at every; session. Here it is proposed to incorporate teMetropolitan Mining and manufacturing Company, not in the DistCol, but to operate in my State, if you please, as a coal company. What are they authorized to do? The resident and direct ors “are authorized an empowered, in be half of said company, to purchase and hold by deed, for a term certain, or in fee simple, lands and other real estate, to carry on the business of mining foriron ore and other native materials, and manufacturing and preparing the same for market and to issue bends, ” ke. This company that is chartered here may go into the State of Maine or into the State of Illinois and buy as much land as they please and carry on the business of mining and manufacturing there. They may go into Wisconsin. This is a new system. Vhenever a company has been authorized to operate in the State of Illinois, and I presume in Wisconsin or Ohio, they have got their charters from those States. The Legislatures of the different States understand the necessity for granting these charters; and I know it has been the case in the State of. Illinois, and I presume it has been in other Statesrobably in Kentucky and in Delaware and in Tirginia and elsewhere whencver a company has been chartered certain re rictions have been put upon them as to the mount of real estate they shall hold. It has been considered to be contrary to the public policy of our institutions to allow corporations to acquire large tracts of real estate and hold them in perpetuity. We, in char tering banks in the State of Illinois I, speak of that State because I am more familiar with its legislation; but I presume it is not unlike thelegislation of Kentucky, Missouri, and other States around us do not authorize them to purchase and hold real estate except such as may be necessary for their convenience in transacting their business; and whenever they acquire the title to real estate on judgments, beinc compelled to bid it in for the collection ot'deTits, we require them to dispose of it within a certain time. Now, I wish to ask Senators if they are prepared to charter companies to operate in e vada, if you please, or in California, with no personal responsibility in the stockholders. I'liat is the case with most of these corporations. In the bill which we passed a few moments ago, incorporating an insurance company, it is expressly provided that the stock olders shall not be liable personally in an form for any of the debts. If this system 0 legislation is pursued it will draw to the federal Government the chartering of all the comanics that are operating all over the‘ U.S.; and we are assing these bills here without any very practical examination. Iam quite sure they would receive a more thorough examination in the Illinois Legislature before that body would consent to pass them. Is there any necessity for this in the DistCol”! If there iIs, have no sort of objection to the bill. If it is a company cre ated for the purpose of mining for iron ore and other materials within the District, and there is a necessity for it, I have no objection to it; but does not anybody suppose that is the de; sign of this 7 Then we are legislating for whom? For a private campany outSide of this District. Is that legitimate? I suggest these things by way of inquiry and to call attention to this matter. It is a new species of legislation upon which we are cm barking, and the chairman of the ComDistCol, I think, should inform the Senate and we should know whether he proposes to grant charters to carry on mining and manufacturing business allover the U.S. in any of the States anywhere, here by the Congress of the U.S.