Mr. WRIGHT. Mr. Speaker, the bill before us proposes to art with the credit of the Government of the IU.S. to a railroad company known as “ the Northern Pacific lailroad Company, ” an association of gentlemen who carry on a private corporation for their own personal gain. Before speaking of those features of the bill which to my mind render it objectionable, I call the attention of the House to the unfair manner in which this whole matter has been conducted. I do not believe that there is a single member of this House who has any objection to the completion of this road at the earliest practicable moment; but whether the road shall belong to the people or the Government of the U.S. rather than to private corporations is another question. That is one of the grounds of my opposition to this measure. We would like to see this country, vast as it is and valuable as it is, speedily developed; its mineral treasures brought forth; its hills and valleys peopled and filled with grain and all other agricultural products which are necessary for the sustenance of man and for the happiness of those who may dwell there. This is a question of humanity. It isation of policy. But there (P188 is a question of egal right. This measure appears to be a “ sort. of gift enterprise, ” where much is promised and little performed. There is something under it. I confess that I have not sufficient intellience to tell you where it is or what it is; but Ifeel that the measure is pregnant with mischief to our Government and to our institutions. When the Government becomes gode father to schemes of this description, being resousible for the acts of its god child, there is anger. In July, 1864, this Northern Pacific Railroad Company was chartered, and at that time it was presumed that we should never again be troubled with an application for additional assistance. The charter gave to them 47 million acres of land and the company themselves, as 6 we heard yesterday upon this floor, declared that they believed that with that rant of land from the Government the wool be enabled to complete the road an have a surplus of $350,000,000. Less than 2 years have gone by and now they come here to ask, what we have no power to give, the credit of the Federal Governmentto an incorporation of private individuals for their own private speculative purposes. Now, can we do that? Could we have done it in 1864! I ask gentlemen here (for the same principle is applicable to other measures as wcil as to this) to muse for a moment and reflect whether all of that land, lying in what socver State it may, is not the common property of all the States. I contend that the government holds it only in trust for the people of all the States; an that it is, therefore, the trustee and custodian of these lands for the benefit of the States who are the catui qua trust; and you will never be able to get your discharge by accounting in the future if you take 47 million acres of that land and give it to one railroad company. We gave away the other day 200,000 acres of land to build a ship canal a mile and a half long. In a very short time the whole of this vast territory of ours will become the property of private individuals; and then, when we find our national debt pressing upon us severely, and turn to that as a source of revenue, we shall find that we have anticipated, and that it has gone into private pockets, and we shall be unable to m e any cudway in our efforts to pay our national indebtedness. Now, let us consider this matter in another point of view. Suppose you have given away half of the land you oasess, Pennsylvania, NewYork, and NewJersey, neither of them having any portion of that which has been given away, or I call it a gift without authority of law. Suppose that by and by a bill is brought in to divide the public lands remaining among the States. how can we account to Pennsylvania, NewYork, and NewJersey for the portion that on have given away? Have they not alrea y been disused of to railroad and canal companies another cori porIations? think it is a matter that demands careful consideration on the part of this House. I have no special leadin to offer in a case of this kind. But a pea to the good sense of mcmbtrs of this I House to decide whether or not I am correct in saying that we are the trustees of this property, and have no right to dispose of it in this wa; but we must account for it to the States who do not obtain their aliquot portion of it now or at some future day. It has been urged here that this land possesses little or no value. I know the old saying. that drowning men will catch at straws; yet the shrewd men who come here and take such pains to get an act of incorporation might very properly be asked why they take this land if it is worth nothing. Now, it has become so valuable, after being in their possession not quite 2 years, that they speak about indem nifying the Government for guarantying the payment of interest on the bonds of this company, by offering us the half of what we gave them to secure $07,000,000. This is not the lirst example in history where large offers have been made. If it will be any benefit to members of this House I will refer them to a somewhat celebrated example. On one occasion, as we are told, the devil took our Saviour up on a high mountain and showed him a great deal of land, and offered him a very large land grant, larger, if possible, than this is. But our Saviour knew the devil did not own it, and He replied to him, “Get behind me, Satan." Now, members of Congress offer to these railroad companies and canal companies these large grants of land that belong to the people; and these corporations not being quite so conse ientious as our Saviour was will most generously and willingly accept the grants of and thus pressed upon them and it seems that these railroad corpora tors who came here last congress and got this grant are acting as if their i ea was that the peeple of the U.S. did not send Representatives here who possessed ordinary intelligence. Therefore they generously bestow their advice upon us here in our seats, and in this building, and at our hotels, tellin us how we can best discharge our duty. All can say is that we are very much obliged to them for their interest in ourenlightenment, and we will act as we may deem best. Now, has any measure of security been taken by the Government that the lands thus given away to this private corporation shall pay taxes in common with the property of other corpo rations? Have we guared the matter in any way so that the U.S. will ever be the gainer by it? Sir, what is to happen at once upon the completion of this road? A division of the profits will be made, and the Government Will get nothing. The private corpora tors no doubt will be very much obliged to the Government for having loaned its credit to them, which is equal to so much money; they will be very much obliged for the land that has been given to them, and when the road is done they will take all the profits to themselves, bid good bye to the Government, and having become wealthy they will go off and enjoy their otium cum did nitate.