cent.

We cannot, judging from experience, expect that the cost of the road per mile will be less than the sum named. We have built roads over the United States, North and South, at various degrees of cost. The Harlem Railroad, I believe, cost four millions of dollars, being fifty thousand dollars a mile for eighty miles. The Hudson River Railroad, it is said, has cost about fifty thousand dollars a mile.

And now, when we look at the income of this proposed road, we are to take with us one very important consideration. Here is one terminus of the road on the Atlantic, the other on the Pacific; the distance between the two extremities is fifty-two miles, and there is no intermediate trade or traffic. I do not know any road in the country that could sustain itself without some intermediate traffic. It is generally supposed that no railroad in New England could now be sustained upon the through travel alone. It is stated on good authority, that on the road from Worcester to Albany, for the years 1841, 1842, and 1843, the receipts from way-passengers, for one of those years, were greater than the entire receipts from through-passengers for the whole three years. And it is those receipts from waypassengers, this intermediate travel and traffic, which enable the road to maintain itself and make a dividend. Now, no one supposes that, for a great length of time, there can be any thing like any way-travel upon this road. There is no town of any importance at the ends, and no adjacent inhabitants. Those who disembark at one extremity of the road will pass over it, and embark at the other extremity of it, and this is all the travel the road will obtain. This is a very important consideration attached to all railroads and canals everywhere. It is a remark that is true of the Erie Canal, in its early history, that the receipts for the business between Albany and Buffalo both ways, for three years, amounted only to two and a half per cent. of the entire receipts for tolls. There is no dispute about this, and the enlarged receipts of the canal have been created, in a great degree, by the growth of the country, and the extension of traffic along the line. The traffic on the Panama route is yet to be created. It is to be produced by the growth and extension of commerce on the coast, and between the Atlantic and Pacific Oceans. Its business is to become profitable, if ever, by the course of trade taking that direction in consequence of the creation of the railroad itself.

Now, Sir, I agree entirely with what has been suggested, that many of these expectations in regard to changing the course of trade, by the establishment of this road, will not be realized. I agree entirely, that for the present there will be much less use for the road than many men of ardent imaginations suppose. I know it is the opinion of gentlemen engaged in the whale-fishery, that their cargoes will not bear the expense of transshipment, and that it will be found cheaper for them to follow the old track around the Cape. Not only is this so, but while they are at sea they are always looking out for the object of their voyage. I remember to have perused, some years ago, an extract from the journal of Commodore Biddle. He was returning from a cruise in the Pacific, and, after having got within the Gulfstream, he met a "whaler" from Nantucket, outward bound, on a three years' voyage. The man at the masthead of the whaler hailed the Commodore to know if he had seen any fish. From the time of their leaving port until they return to it, they keep constantly looking out for their prey; and I am told that this is especially the case on the coast of Brazil, where they meet with the species of the whale called the black whale, and after turning the Cape they look out for sperm whales. So that, besides the expense of transshipment, there is the other consideration, that during all the while they are at sea they are continually in pursuit of the object of their enterprise.

We may reasonably conclude, then, that this railroad will not be used for the transit of the cargoes of whale ships. Experienced merchants do not credit the suggestion that the China trade will ever use the projected railroad. So that, on the whole, it is by no means clear that it is prudent to undertake the making of this road, as a mere speculation. But is there not a higher object, in which the interest of this country is deeply concerned, for which the work should be undertaken and completed? Senators may answer this question on general grounds. For my own part, I have no hesitation, from the consideration of what has already been done, and what may be done. I think it a great object to connect the two oceans, and I myself think the price to be paid is little enough. I think it is by no means too high, and my fears are whether, after all, they will be able to make the road without still further encouragement. Considering, however, the character of the

petitioners, we have reason to believe that, with the assurance that this sum will be paid, they may be able to obtain so much more credit and so much greater facility in conducting their operations, that they will be able to complete the work.

There is one other thing to be remembered, that this will be the only way of crossing the isthmus for many years to come. Public attention has been very strongly drawn to this subject. We have now extensive territories on the other side of the continent, and although we do not know whether the immediate object of those who invest their capital in the undertaking will be attained, although we do not know whether they will, for ten years to come, be remunerated for their outlay, still the advantage to the public which must accrue from the direction given to the business of the country which must necessarily be carried through that channel, will be of so decided a character that it ought to be undertaken. Whether the hopes and expectations of those who visit the gold region shall or shall not be realized, the commerce of the country will, nevertheless, be benefited, by having a ready communication between the Atlantic and Pacific coast. I believe, therefore, that the public generally are decidedly in favor of some immediate measure, to be begun now, to open a communication which shall so much shorten the distance between the United States on this side of the mountains and the territory of the United States on the other side. It is in this point of view that I think this is precisely the measure that is called for by the judgment of the whole country, and the only practicable measure that has been suggested; and it is for these reasons that I sustain it.

THE CONSTITUTION AND THE UNION.*

On the 25th of January, 1850, Mr. Clay submitted a series of resolu tions to the Senate, on the subject of slavery, in connection with the va rious questions which had arisen in consequence of the acquisition of Mexican territory. These resolutions furnished the occasion of a protracted debate. On Wednesday, the 6th of March, Mr. Walker of Wisconsin engaged in the discussion, but owing to the length of time taken up by repeated interruptions, he was unable to finish his argu. ment. In the mean time it had been generally understood that Mr. Webster would, at an early day, take an opportunity of addressing the Senate on the present aspect of the slavery question, on the dangers to the Union of the existing agitation, and on the terms of honorable adjustment. In the expectation of hearing a speech from him on these allimportant topics, an immense audience assembled in the Senate-chamber at an early hour of Thursday, the 7th of March. The floor, the galleries, and the antechambers of the Senate were crowded, and it was with difficulty that the members themselves were able to force their way to their seats.

At twelve o'clock the special order of the day was announced, and the Vice-President stated that Mr. Walker of Wisconsin was entitled to the floor. That gentleman, however, rose and said,

"Mr. President, this vast audience has not come together to hear me, and there is but one man, in my opinion, who can assemble such an audience. They expect to hear him, and I feel it to be my duty, therefore, as it is my pleasure, to give the floor to the Senator from Massachusetts. I understand it is immaterial to him upon which of these questions he speaks, and therefore I will not move to postpone the spe cial order."

Mr. Webster then rose, and, after making his acknowledgments to the

* A Speech delivered in the Senate of the United States, on the 7th of March,

Senators from Wisconsin (Mr. Walker) and New York (Mr. Seward) for their courtesy in yielding the floor to him, delivered the following speech, which, in consideration of its character and of the manner in which it was received throughout the country, has been entitled a speech for "the Constitution and the Union." In the pamphlet edition it was dedicated in the following terms to the people of Massachusetts:

WITH THE HIGHEST RESPECT,

AND THE DEEPEST SENSE OF OBLIGATION

I DEDICATE THIS SPEECH

TO THE

PEOPLE OF MASSACHUSETTS.

"HIS EGO GRATIORA DICTU ALIA ESSE SCIO; SED ME VERA PRO GRATIS LOQUI, ETSI MEUM IN GENIUM NON MONERET, NECESSITAS COGIT. VELLEM, EQUIDEM, VOBIS PLACERE; SED MULTO MALO VOS SALVOS ESSE, QUALICUMQUE ERGA ME ANIMO FUTURI ESTIS.'

DANIEL WEBSTER.

Mr. PRESIDENT, — I wish to speak to-day, not as a Massachusetts man, nor as a Northern man, but as an American, and a member of the Senate of the United States. It is fortunate that there is a Senate of the United States; a body not yet moved from its propriety, not lost to a just sense of its own dignity and its own high responsibilities, and a body to which the country looks, with confidence, for wise, moderate, patriotic, and healing counsels. It is not to be denied that we live in the midst of strong agitations, and are surrounded by very considerable dangers to our institutions and government. The impris oned winds are let loose. The East, the North, and the stormy South combine to throw the whole sea into commotion, to toss its billows to the skies, and disclose its profoundest depths. I do not affect to regard myself, Mr. President, as holding, or as fit to hold, the helm in this combat with the political elements; but I have a duty to perform, and I mean to perform it with fidelity, not without a sense of existing dangers, but not without hope. I have a part to act, not for my own security or safety, for I am looking out for no fragment upon which to float away from the wreck, if wreck there must be, but for the good of the whole, and the preservation of all; and there is that 28

VOL. V.