Mr. FTHOMAS. Mr. Speaker, I will proceed now from the point to whichI had progressed when interrupted. I will call the attention of the House to the laws bearing on the question; and I will read from them, that their peculiar character may be fixed in the minds of members; that they mayfine w it is no ordinary question they propose to decide in this bill, because if this principle be sanctioned by the Congress of the U.S., capitalists from one end of the country to the other must necessarily be alarmed by such an exposition of political morals. It strikes vital y, in my judgment, at all internal improvements of the country. For if the precautions taken in this case by Maryland and Virginia do not guaranty to this canal corporation a perfect security against such legislation as is ere proposed, then there are no precautions that can be taken an where, from one end of the country to the other, that can make capital safe. I hold in my hand the act of the State of Virginia which was the initiatory measure to the creation of this corporation. The act was passed on the 27th of January, 1824. It is in the ordinary form of an act of incorporation granting the ordinary powers to the company. will read a single clause in this law: “ Provided. That before this act takes offect the CODZI'L‘H of the U.S shall authorize the Statesof Virginia and Maryland or either of the m, to take and continue a canal from any point of the above named canal or the termini thereof, through the territory of the DistCol or any part thereoftot o territory of the said States or either of the m in any direction they may deemproper." Maryland ratified that law of Virginia. But Maryland goes further, and out of abundant caution in a subsequent act, passed in December, 1825, makes still more perfect the compact between Maryland and the Government of the U.S. which this bill, if passed, would violate. Maryland 21reed to appropriate and did appropriate an expend S200000 in clearing out and deepening iarbors which the Government was bound to improve. In this act of 1825there is the following provision: “Pr'qoided.That before any part of the aforesaid subscriptions. exoe t so much as is payablein the stock and debtof the otomacCompany shall bemade or any part of the sum heroin appropriated to execute the improvements contemplated by this act to be madeon the low landssituatedon themargins of the aforesaid rivms and creeks or to oxecuto the improvements of the Pocomoko Manokin, Wicoinico. Great Chotank, Chester, Elk, and Northeast rivers be exen ed. the Congressof the U.S shall by nw authorize a subscription for not less than 10,000 sharesof the capital stock of the eastern section of the Chesapeake and Ohio canal, and shall enacta law expresslysecuringto the State of Maryland and to any company incorporated or hereafter to be incorporatedby the said State, the rilht to take and continue a canal from an point, of the Clicsa pgina, kooraanndy Ophairotethaenrael, otfh.trootuhgehsta idotSetrartieto, irnyaonf Cyotilmumetion it may deem proper.” The law which I have just read points out the mode and manner in which Maryland shall avail of the privileges granted in that law. It provides that the Governor shall call upon the POTUS to appoint a commissioner with a view to the location of any such canal as Maryland may need or require. Now, what did Congress do? By an act passed on the 8d of March, 1825, Congress ratifies, allirms, adopts, and makes law in the DistCol the charter passed originally by Virginia, and accepted and ratified by Marylan. Congress goes further, and in express terms accepts the proposition submitted by Magyland in the law from which I have just rea. In accepting that charter Congress ado ted the very phraseology I have read from the law of Virginia, and agreed that the waters of the Potomac should be reserved to the States of Maryland and Virginia for any future improvement that they might think proper to project. Then Congress, after confirming unqualified ly and unconditionally this charter of the Chesapeake and Ohio Canal Company, in the secon section of the law I hold in my hand, declares: " Should the State of Virginia or Maryland desire at any timeto avail itself of the right securedto it by the 21st section of the act aforesaid." That is the very section I have read from, wherein Maryland made a proposition to the Government of the U.S. to expend $200,000 in clearing out the harbor on the mai'gin of the north bank of the Potomac and on the Eastern Shore, which the Government of the U.S. was bound under the Coti stitution to do tor the accommodation of the national ships, the coastwise trade, and the foreign commerce. “ Should the State of Virginia or Maryland desiro at any time toavail itself of the right securedto it by the 20 1st section of the act aforesaid to take and continue a canal from any point of the ChesapeakeandOhio canal to anyotherpoint within the territory of the DistCol or through the same, on application to the POTUS.by the Executive of the State. the President is authorized and empoweredto depute 3 skillful commissionersof the U.S. corps of Engineers to survey and examine so much of the route of such canal as may iiTTcct in any manner the navigation of the Chesapeakeand Ohio canal." Under this power a canal to Alexandria has been made. Under this power the property has been created which gentlemen now propose to touch with unholy hands and to appropriate to a company of speculators. I do not speak this disi'cspectfully. Speculators are the pio neers in the great imprbvement of the country; but I want them to keep within legitimate boundaries and not trespass upon interests of Maryland that are of vital importance to my constituency, nor come before the Congress of the U.S and ask a surrender of its honor and its plighted faith for their'benefit. I will refer to one other statute, because it may have been whispered in the ear of gentlemen who hear me that the charter of the Ches a eake and Ohio Canal Company is forfeited. l 'h, sir, I have some knowledge of the history oft at canal; I have examined all the laws on this subject. I will not trouble the House by referring to them all; it is not necessary. It is only necessary to refer to a single statute passed by Congress, and in the same words by t ie legislatures of Maryland and Virginia, to find that the Chesapeake and Ohio Canal Company were released in 1845 from all forfeitures prior to that date, and were clothed with complete power under this charter, provided they finished their canal for transit to the town of Cumberland in 1855. And I know that the canal was completed within the requirement of that law, by 1850. So that there can be no pretense that their charter has ever been for felted. Now, let me ask, what has been done by the Chesapeake and Ohio Canal Company, ofwliich Maryland holds nearly all the stock. the government of the U.S. holdin but a very small portion? What has been done by the Chesapeake and Ohio Canal company in pursuance of the authority with which that corporation was clothed? They have notonly made a canal from the boundaries of the DistCol to the town of Cumberland, but they have extended that canal eastward through Georgetown to the Washington canal just about at the base of the mound upon which the National Observatory stands. Now, what is proposed in this bill? It proposes to grant to a company of individuals, 9 of the number, a majority of them. bein non-residents of the DistCol, an none of them being residents of Maryland, not only the power to hold, occupy, possess, and enjoy, without aying for it, the Washington canal, but to lioffl, occupy, and possess all that art of the Chesapeake and 0 no canal that ice east of the western bank of Rock creek. That part of the canal members are not so familiar with. I therefore hope they will excuse me for dwelling upon particularities. The canal company have builta dike between the river and [took creek and formed a basin. They have constructed 4 ver expensive canal locks immediately beyond ock creek within the short distance of a quarter of a mile. The have built outside of the jurisdiction of the IlU.S and inside of the nrisdiction of Maryland a dam across the otomac river for a feeder for all the canals. The water from the river, after supplying certain factories, furnishes the means of reacliing this basin at the mouth of Rock creek and then passes into the Washington canal.