Mr. STEWART. I did not intend to make any remarks upon this subject; but inasmuch as there is evidently a false impression upon the minds of a great many Senators as to the real situation. it may not be improper for me to say something. The Union Pacific Railroad Company and its managers have been eulogized. I regret to detract from any part of that eulogy, and I should not attempt to do so if I did not believe that it was the duty of the Senate to watch the managers of that company. If I am not misinformed, the leading man, Mr. Durant, who has charge and is the moving man of that company, was formerly in the Union Pacific Railway Company, eastern division, and the Union Pacific Railway Company, eastern division were compelled to buy him out. He delayed them a long while, and for very little road a very large amount of money was obtained by Mr. Durant. Under some kind of contract, Mr. Perry and others loaned money to carry it on and they had to take charge of the road. Something of that kind occurred. At all events Mr. Durant was the manipulating man of the Union Pacific railway, eastern division, until the time ncarly expired; and now when those that have been drawn into that enterprise and have invested their money get ready to go on with the work they find that the road which was to be their securit is unbuilt, they find the time for filing the map expired, and they come here and ask you to give them time to let them file the map. You have alread agreed that they may go beyond the 100th meridian, and the 1st section of this bill simply allows them time to file their may 1. They put their money in the work on the aith that they could accomplish it; but it turned out not to be in their hands but in the hands of some of the managers of the Union Pacific railroad, and there is where the delay comes from. Now, the men who have put their money in this enter rise fairly must be robbed unless they can have additional time to file their map. A word furth er as to Mr. Durant, the leader and manager of the Union Pacific Railroad Company. He presents to the committee maps of the road and lands in the State of Ne vada. They are williu to change the route after the road crosses the 100th me ridian. They say they do not know where they will cross the 100th meridian, and they are willing to a change there. Of course they do not want any other road built, and they are unable to state where they will cross the mountains; but yetthey go within less than 200 miles of the end of the Central Pacific railroad, nearly 1500 miles from their own work and commence surveying, for what purpose? For the purposu, as they allege, of mortgaging the road in Nevada and Utah to foreign capitalists. They have no right to mortgage it beyond 100 miles in advance of construction, and the are not able to locate the 1st 100 miles, not having got the initial point for starting the Union Pacific railroad proper, the main stem, and yet they 0 over into Nevada and survey there to enable them to make a mortgage to English capitalists, as they allege. Are they to be allowed to do this? It is claimed that we shall embarrass them if we prevent them from encumbering. in Europe, this road that they never will build. If they are allowed to do it it will be many long years before we shall have the road built. Let me tell the honorable Senfrom Massachusetts that there has been a good deal of delay in starting the Omaha branch of the Union Pacific railroad. The bill authorizing it was passed in 1862. They have had the ear of legislators and they have manipulated things so that they were not required to commence until last year. They never commenced even on their branch until last fall, and they have built very well since they began. They tele graph constantly that they are building a mile a day, and they say now that they have 120 miles built. That is not a mile a day since they commenced last Octo ber, but that is doing very well. You will get these telegraphiedis atchcs as long as Congress remains in session; but let me tell you that that is very smooth, level ground. The ten miles between Colfax and Dutch Flat. any ten miles in that region is more work than 120 miles on the Omaha branch; and let me tell you that the Central Pacilic llaif road Company will go over the Sierra Nevada mountains, and that speedily, and they will be desiring to come east, and the people of the Pacific coast are desirous that they shall come east with their road. The people of the nation are desirous that this roatFshall be built from both ends; and when there is a necessity that the road shall be built from both ends, we find Mr. Durant 85Co. unable to locate their initial point, starting on the east and going to the western end, and yet attempting to encumber the western division of the road because the Central Pacific Railroad Company want to come east. Does a company that will do this and manage and manipulate as this company hasbeen doing, come here with a good grace and ask that they may monopolize this road, and that we shall be prevented from building it? 70 miles over the mountains have been built on the western end, which is far more work than it would be to build from the Missouri river to the Rocky mountains on the cast. I have been over both lines and know it. The Central Pacific Railroad Company had 50 miles built last year when the Union Pacific road had not struck a spade in the Omaha branch. Now, you say that the 2nd section, allowing the Central Pacific Railroad Company to come cast, is going to impede your progress. How so? Across the plains the Government builds your road. 16,000 dollars a mile, with the land grant, is more than enough to build it across the lains. There is no harm done in allowin this road to be built from both ends, for that was the original agreement, and the country demands it. If it is not built from both ends it never will be built in our day. There is harm done to the project when a man steps in and attempts by his maps and by coming before Pacific Railroad Committees and claiming vested rights, to prevent another company from buildin a part of the road, and it isuproper that such schemes should be denounc. this equally important a that both ends should have credit; it is equally important. that both endsshould beencouraged, and I would not make these remarks if I had not seen that there was a want of fair play. If Mr. Durant can go on and carry out his scheme and mortgage the Union Pacific road for its entire length to European capitalists, when he does not need the money, where is the security that he will not 3 end the money and leave the road unbuilt? believe he did not succeed in building the road in Iowa; he had something to do with that, and was not very successful. The eastern division was not very successful under him. Now, why encour age him to mortgage 1500 miles of road that he does not intend to build, when he does not need the money, when you give him $16,000 a mile for every mile he builds, and allow him to mortgage the road for $16,000 a mile more for 100 miles in advance of construction, and give him land enough in addition so that he can build across the plains without any aid from Europe or elsewhere? And after all that you say it is important that this bill should not be passed, so that Mr. Durant can negotiate his mortgages in Europe for the purpose of encumbering roads which other people desire to build and the nation demands s iall be built. This bill is not for the purpose of granting any new right, but for the purpose of carrying out the original design: 1st, that the main road shall be built from both ends; 2ndly, that the Union Pacific railway, easterndivision, shall have an extension of time within which to file its map, so that those men who have invested their moncyin good faith shall not be robbed. That is all there is in the bill.