Mr. MORGAN. I move to postpone the further consideration of this bill unti the 2nd Tuesday in December next, and if this motion prevails I intend to follow it with a resolution providing for the obtainment of can timntes from the engineer dept. There are many reasons why this bill should be post poned, and I hope the Senate will consent to postpone it. The question of power, in the rst place, is not one to be trifled with. The question of power is one that ought to be well considered by the Senate, because the principle involved is, whether Congress has the power to create a private corporation within one of the States of the Union, the franchise to be exercised solely in that State. Perhaps the Senate will decide that Congress have that power; but if they do so decide, the decision Will, I think, be in conflict with the best opinions of the early statesmen, and in conflict also with the practice of the Government for near]80 years. A bill which proposes that te50n gress of the U.S shall create a private corporation and authorize it to build a canal around the falls of Niagara, in the State of NewYork, for ships to navigate the water or to go through the air, as this bill provides, and which approriates $6,000,000 from the Treasury of the U.S. to the private corporation thus created, without ever having any survey or reliable estimate from the engineer dept of the Government as to the cost, whether it will be $6,000,000 or $30,000,000, and without knowing whether the project is feasible or not, and withouthaving shown any public necessity for it, and this as a commercial measure, for commercial purposes, in time of peace, when the country is orne down with enormous taxation, is, to say the least ofit, a measure of a very grave character, and which, it appears to me, should not be entertained for a moment if we expect to retain the confidence and respect of the country as wise and rudent legislators. The State of NewYork is entitled to some voice in this matter. It seems to me that it would be entirely proper to give as long a time as is proposed, until December next, on that account, for that State has public works that are to be jeoparded, perhaps destroyed; and it is not for the interest of Senators representing western States to undertake any measurethat shall result in disaster to the Eric canal. Therehasbeenonedeliberate, well considered, butbold attempt to sell the Erie canal to a large and powerful corporation. That was made a little less than ten years ago. It failed then, but it may be made again. If this bill passes, and this ship canal is built and is successful, and a large portion of the transportation is taken from the Erie canal to this ship canal, there will come up a cry from all parts of the State to sell the Erie canal, to have the constitution amended and have the canal sold, as has been done in the State of Pennsylvania. That will come whenever taxes become extremely heavy. Well, sir, there is but one buyer, there can be but one buyer; that buyer will be the NewYork Central railroad; and of course, after buying the Ere canal they will get control of this corporation around Niagara alls, for that would be a very simple process; and when they get the entire control and make a monopoly of the carrying trade, I think it will be the darkest day for the agricultural products of the West that they have ever yet 'seen. The Senfrom Ohio said this morning they burnt their corn for fuel. Let this monop oly once he created, and the Erie canal will be made to pay $100,000,000; and they will not only be compelled to burn their corn in the West but they will also burn their wheat. They will be looking around very soon for a new channel. It has taken from 30 to 40 years to secure this channel; and how long will it take to secure another? Sir, the interests of the West and the interests of the East are identical; there should be no rivalry' there should be no rival route. W'hat should he done would be to enlarge the locks of the Erie canal, and that measure will be done by the State of NewYork. I feel con‘ fident that the locks upon the Erie canal will be enlarged; measures will be taken during the next winter; and those locks can be enlarged in a single year so that boats of from 550 to 600 tons can be taken through. I hope, therefore, the motion to postpone will prevail.