Mr. HARDING, of Illinois. I am greatly indebted to the Gentfrom NewJersey for his courtesy in allowing me a few minutes. I felt more interested in this subject and am more ardently opposed to this bill than, perhaps, there is good ground for. I am anx ious to preserve the financial credit of the government. Perhaps I am more sensitive on that point than I ought to be. I feel how much it has cost, both in blood and money. I feel how grinding and burden some our present taxation is upon the people; and I am unwilling to add another dollar to our Obligations unless it be for a measure of very great national importance. It is asserted that this is a great national measure. I beg leave to deny it. It is but a great individual speculation. The nation is no more intereste in the development of this region of country from Lake Superior to Pu get sound than it is in the development of any other portion of the country. If the devel opment of this country by the construction of a railroad is to be held to eanational business, why then I can only so that I have understood things dilIerently. I (To not understand that it is the business of this Government to engage in the general improvement of the country and the develoment of its resources, in the building of wooden and cotton factories, in the opening of canals, and in the construction of railroads in all directions. These are, in one sense, matters of national importance, but not in the sense that has ever been maintained by that great party to which I have had the honor to belong all my life, a party which has met opposition. but which in its construction of the power of Congress under the Constitution, to enter upon the improvement of the inland rivers and the harbors on our lakes, and to provide for the construction of othergreat national improvements, has never gone as far as this measure plOpOSESto go and no shall lead me further than the posi the oandewrshhicip that party assumed, and in which it was sustaine in the past by the people of the conn try. I have never understood that we had a government here which could appropriate money from the public Treasury for the development of local interests. In the limited time. allotted to me I can, of course, any but little of what I would like to say upon this subject. I would like to show that this measure is not impellod by considerations of great national importance. If it be, then I ask why it is that members from partic helped to build some, to my sorrow. ular localities are found, every one of them, “in” for it? Why is it that my friendfrom Portland. [Mr. LYNCH, 1 and all those who come from the line of latitude on which this road is to run, favor it? Why is it?. Is it because they love this great country more than prollliV.Vl Witlhllytt, iswihtothaarte ceenrgtaaignedgeinntlecmeretnaintriionn. sis, are so deeply interested in this work? i i. course it is because they look upon it as a national work; it is not because it would promote certain branches of business! Look at it. Your original bill gives in general terms a right to other roads to connect with this road. What is the connection? Is it the right to have the business of the NewYork Central, or the Michigan Central, or of any other road Citllbd over this line? No such thing. The men who control the charter will make the business with the West go over the Grand Trunk railroad of Canada. Let it go to Portland over the very roads that these distinguished and honorable public spirited men from Vermont and NewHampshire represent. They, of course, are not influenced by any such considerations; not a whit of it. They are too honorable and high minded to burden this nation with a view to local advantages and local benefits; I do not believe they would do it; not a word of it and do gentlemen suppose that Boards of Trade, composed of the material that we know they are composed cf, are ever influenced bynny other consideration than love of country? Why, no sir, never. i en engaged in the iron interest are anx ious, of course, to make railroad iron. But it is not in their special interest, of course, that a bill is introduced here to bind these railroad corporations to buy their iron of them. Yet this road is to be built of American iron, cost what it may, and however great maybe the demand for it. But that of course will not weigh a straw in the estimation of my patriotic and truly honored friendfrom Pennsylvania, [Mr. STEVENS, for I do honor him. Now, I beg imto believe me when I say thatthis country does not want this increase of liabilities at this time. Whether we pay the money or not it will stand against us on our books; itstan s there asaine rt age, and he and others will find that when we have once committed ourselves to this thing they will so man age the business of the road that the quarter of the gross earnings which we are to receive will be very small. 1be great part of the earnings will be absorbed by the Grand Trunk road and the Vermont line; there will be very small earnings for the west end of the road, especially as that west end is 1800 miles long. How many stations would there be on the western portion of the road? None, except on the Missouririver, until you get to the acific. There is no population alon the proposed hue of road. asked a frien what was the population, and he told me it was literally nothing and there are but few villages on the Pacific coast. Now, what kind of freight can be carried 1800 miles over a road that will pay for the carriage after it has reached the market? Not grain and corn, for it now takes 3 bushels of corn to pay for transporting one bushel from Illinois to Buf falo. I am proud of the railroad system of the U.S.; I am in favor qf it; I have and I have learned this: that there must be a large way business, a large population along the line of the road to make a road pay. My friendfrom California [Mr. BKDWELL] says that they want competition to keep down the rates of freight to the Pacific. Now that is a beautiful idea: I will treatit more respect fully, and my that it is an honest idea. But you will find that where there are 2 parties to divide the profits. they will always manage to have a little higher rates of freight. I chal lenge gentlemen to show mean instance where competition has put down freights for any length of time. hose corporations will not l ll compete long. If the men who manage thorn ever do carry on a competition frompersonal animosities for any length of time, those {ll who are interested behind them will turn them I ii out and put others in their places who will better attend to the interests of the parties. Now, you may build another road to the Pacific; but by the time it is done the mana hauipagne and conclude that rates of freight inst be raised a little higher. That is so; I have tried it, and it has been tried on me. Gentlemen argue, why not. give this land, which is worth about as much as the blue sky? Sir,it is too good to give away to a set of corporators who will thus have 1800 miles of monopoly through the best mining regions of America, I am told. Sir, all know how this thingworks; there is not amine there but what ifI own the railroad I own the mine, and you know it. If you have a coal mine or an iron mine or a gold mine, and I control a railroad, I will take all the profits of the mine for transportation. Sir, there is not in this bill a syllable which will enable the Government to control the manner in which this company shall do their business. The whole thing will be under the control of the corporation. Sir, when I conclude to vote for allowing Sir Morton Pete and his associates or any association or company 1800 miles of the territory for which my countrymen have fought and bled, and many of them died, I will let you know. Sir, what do you suppose would be thought of such a vote among my constituents, who have sent here their petitions signed by 1,000s of names asking to be relieved from the oppression which they have suliered from railroads in Illinois? Why, sir, the railroads of Illinois have competing lines. How is it, then, that they oppress the people? Sir, it is, as I have said, through the medium of cham pagne. So far as concerns the power which will be wielded by this company, it is immaterial whether we give them 20 miles or 40 miles along the line of their road. I know that this is merely an entering wedge. They will eventually exercise a power which nothing but the building of acompetin line can break. Sir, if this bill be passed it will be equivalent to a deed of cession to these corporators for all this land. They will own it. The strong man will keep the house, and you can go in and out only at his pleasure. Mr. Speaker, I do not like to express my opinion upon financialquestions. But I have a ways believed that so r as we can we should pay as we go. I have accepted as a tolerably good and sound principle the advice of the Bible, “Owe no man anything.” There is, I believe, another passage of scripture but I am not freshly read which says something about the impolicy of indorsing for others. [Laughter]