Mr. DELANO. Mr. Speaker, I regard the subject now before the cute as one of very great importance. The measure itself has in trinsic merit; that is to say, the construction i of this road would be important and valuable as regards the interests of the country. But this bill is important independent of that consideration. It is important because, if pgssod, it will establish a policy which is to have upon the nation an influence that I fear will be disastrous to the country; an influence and a power that the country is not able to endure in the present condition of our finances. I therefore propose to call the attention of the House to some of the important features of this subject, for I think it necessary, and I deem it important that we all should, without refizrence to any interest except the overriding interest of the country, bring our minds to the consideration of thisquestion. In the 1st place, desire to say to this House that in July, 1864, an act was passed incorporating certain persons under the name 01the Northern Pacific Railroad Company. By the terms prescribed in the 8th section of that actthe company was required to commence the Work on said road within 2 years from the approval of the act. They haVe not done so, (for what reason I am unable to sav.) and now it is proposed, Iwill not say invidiously, butl will sayingeniously, to virtually exonerate this company from the duty of commencing this road unti it shall be the pleasure of the company to commence it, by providing that the institution of surveys, &c., shall be considered equivalent to the could mencement of the work. Now, the original corporators, or at least a large portion of them. probably never knew that they Were named in the act of how poration. But their names were used, as the names of men who are in public life are often used, to have influence and character to what I regar as from beginning to end a scheme of public plunder. It is time to meet these quQstions, and to treat them as th deserve to be treated if We would save this nation from overthrow in its finances by those who are seeking to deplete and to bleed the nation at every! pore and at every oint where they can gett cir hands into the "reasur. The name of my friend and colleague, [Mr. Bisonall] was inserted in this charter, and yet I will ven ture to say he never knew it: I know he never knew it and I suppose others are in a like situation in that respect. As the Gentfrom Illinois [Mr. Wax r wonm] says, there were some parties, however. Whose nanics were Used, who did know it and knew for what purpose they were used. They went on, and progressing a little way they found it necessary to sell out to a new band of specu lators. It is admitted here, I believe, by the friends of the bill that the persons who origi nully or nized under this c arter haVe parted with lllellb interest;f and a new sWarrn are now ressin on ss or a new a reriation. p Thatgls the Gtlftitude in wllichxllhis Ithingis now presented. I do not know any of the men concerned; I do not know who they Were who originall organized. But I undertake to say that the act is that those who originally organized this company have transferred it to another set of men and that is what I mean by the new sWarm that is here for more appropriations, for more money. With their arms all? ready in the public Treasury, they want to rurithem in further; nothing short of the elbow will answer their purpose. V That is the way in which I view this transaction; and if I did not deem the modified of the countrys finances such asto call upon us to defeat this scheme of plunder, I do rid know but that I should have remained silent. I do feel, hoWever, that it is time that we should pause for consideration and should stop thin continuals quandering of the nations resources; for we need them, and we may need them here aller more than we do at present. I have said that the 1st organization have sold out, receiving as a bonus for the charterr $150,000, as I am informed, and the purchasofd are here for more lander. This is the “new swarm ” to which I have already alluded. Now, I Want to show the House what the company received originally. By the original charter there were noted to the company 40 sections per milks for all the distance of this road through the Territories and 20 sections permile or all the distance through the States. Now, for the purpose of showing this House what these gentlemen themselves think is the value of their original charter, I ask the Clerk to read a para aph from a amplllet which I send to the de., entitled “ n appeal to congress in behalf of the Northwest. in connection with the construction of the Northern pacific railroad and telegraph, by A. Ramsey, D. S. Norton, G. H. Williams, and others.