Mr. SHERMAN. I have no doubt that thin is a grant; and it is because itisa most excess ive and unreasonable grant, as I think, that I oppose it. here is another consideration. I said before that the line of this road is along the British possessions. The British Government is now endeavoring to divert the whole transit across this continent on to what is called the Grand Trunk railroad and the lines through Canada West. I see in a recent publication:1.statement that they have alreadycontemplated and perhaps have made surveys the construction of a railroad as far as the Lake of the Woods, where they propose to connect with this N orthern Pacific railroad; and it was an absolute fact that British capitalists had at one time the control of this enormous grant of our land 20 miles wide through the whole northern bound ary. What is there in this bill to prevent these canadian interests, controllinga large amount of mono ', from buyin up the guarantied stock of the U.S. issued to this road, gnar antying an interest of 6%. ‘2 What is there to prevent British capitalists from entering into the market and buying up this stock and thus controlling and owning not only a strip of land 20 miles wide through our whole country, but the franchise which compels the Government of the U.S. to 1 an annuity to them of over 6 million dol are, and with that money to build a road to promote Canadian interests? Why, sir, they will do it as sure as this bill shall become a law. Puget sound is their natural terminus. That is not the natural terminus of our Pacific coast trade. Portland is the ca ital of Oregon, and the mouth of the Colum ia river is the place where the interests about Oregon concentrate. In California they concentrate at SanFrancisco. Now, it is proposed by this enormous grant to build up a new rival interest on the western slope in the British possessions at Vancouver’s Island where they may control the trade of the world, where they may seek to divert from California and Oregon this mag nificent trade, gather it into a ritish port, taking it over a British road, subsidized by the national Government, to Montreal and the mouth of the StLawrence. Is that the purpose for which we should legislate now? I say it is not. In every sense in which I can 100 at this bill I think it is an improvident measure. I trust the Senate will recommit it or let it go over until next winter. No great harm can be doncby the postponement; and I think that after this session we shall never hear of this bill in this form again.