The United States was not a mere creditor, loaning a sum of
money upon a mortgage. The railroad corporation was not a
mere contractor, bound to furnish a specified structure and
nothing more. The law created a body politic and corporate,
bound, as a trustee, so to manage this great public franchise
and endowment that not only the security for the great debts
due the United States should not be impaired, but so that
there should be ample resources to perform its great public
duties in time of commercial disaster and in time of war.
This act was not passed to further the personal interests
of the corporators, nor for the advancement of commercial
interests, nor for the convenience of the general public,
alone; but in addition to these the interests, present and
future, of the Government, as such, were to be subserved.
A great highway was to be created, the use of which for postal,
military, and other purposes was to be secured to the Government
"at all times," but particularly in time of war. Your committee
deem it important to call especial attention to this declared
object of this act, to accomplish which object the munificent
grant of lands and loan of the Government credit was made.
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