Mr. FESSENDEN. No company can do it unless Congress gives them leave. We by this bill give leave to this company, and no other company can get the privilege until they get leave from Congress. Does the Senator assume that after Qie American Congress has given this charter to this company with this understanding. they will turn around and give it to somebody else? That is putting Congress in a very low position and depriving it ofull that business knowledge which my honorable friendfrom Michigan speaks of. We are to conduct ourselves, I take it, on properprinciplesin relation to these matters. I am very desirous to test the question whether this is more talk about the Spanish company coming here and getting control of it and taking it out of our hands; I fear it all is nothing more than a pretense for getting an exclusive privilege for 14 cars. If it is true and I have no question it is true from the high character of the Gentleman who stated it to me, that the object is only what I have suggested, then this proposition of mine meets it directly and keeps the whole power in the hands of Congress. That is the simple truth of it. I feel no more interest in this question than anybody else. [never heard of it until the bill was brought forward, but I really feel a very strong aversuon todoing these things. I have done them before upon the large stories told about “the immense cost” and “the company will not do it unless inducements are held out, ” and the “great importance of the enterprise, " and I have the hands of men. This has been repeatedly the case; it is the case with regard to the tele graph across the continent to the Pacific; and after this experience I am getting to be alittle careful about what I do in relation to such maItfters. this line will ay, the bill ives a valuable privilege; if it will not pay, am the partiesare satisfied it will not pay, it will not be built; but if it can be built now in this busy time l mean busy in the sense that the whole world is busy, making active advances in everything only on the principle of granting exclusive privileges for a series of years, I do not think it is worth undertakin at all.