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hereby requested to make, with a promise that the title to said lands shall vest in said company as soon as said road shall be completed as far as Rock river, and not until so much of said road shall have been completed.
2nd. That the proceeds of the sales of lands now due or hereafter to become due, (except interest moneys as herein otherwise provided) and all moneys belonging to the canal fund shall be transferred and paid to said railroad company, and all the work constructed by the Milwaukee and Rock river canal company on said canal, so far as the Territory have an interest therein, shall be transferred to and vested in said railroad company, whenever an act shall be passed by Congress granting the canal lands to said railroad company, and the canal commissioners are hereby authorized and required to transfer to the proper officers of said railroad company, all bonds, mortgages, moneys, property and evidences of debt which may be in their keeping or charge, and anywise belonging to the canal fund, provided however, that no such works on the canal, bonds, mortgages, moneys, properties and evidence of debt, shall be transferred to, or vest in said railroad company, until said company shall have settled and liquidated all the expenditures which have been made, by the Milwaukee and Rock river canal company incident to the commencement and prosecution of the canal, and morcover shall have discharged all debts and liabilities which have accrued against the Territory by any loan which has been negotiated for and on account of said canal, all contracts which have been given out and approved by the commissioners for the construction of work on said canal, and all liabilities which shall in any manner be due or owing by the Territory for and on account of said canal.
3rd. That in consideration of relinquishment by the Territory of the lands aforesaid, the location of said road shall conform to the following points between Milwaukee and Rock river, as nearly as may be, viz: beginning at some point in Third street, in the town of Milwaukee, and thence along said strect to the base of the hill near Cherry street, and thence by the most feasible route to a point near the termination of Walnut street; thence by the most feasible route to a point on the canal line as located by the canal company's first survey, (that being the line presented to the Secretary of the Treasury as the centre line on which the canal grant was set off,) said point of intersection between the railroad line and canal line, to be near the southwest corner of section eighteen, township seven, and range twenty-two; thence pursuing the most feasible line to the point where the canal crosses the Menomonee river; thence pursuing the most feasible line through section thirty-five, in township eight, and range nineteen, to a point on the canal line near the residence of Samuel Dougherty, Esq.; thence pursuing the most feasible line to a point on the located line of canal within section thirty-three, in township eight and range seventeen; thence pursuing the most feasible line to a point near which the canal line crosses Battle Creek; thence pursuing the most feasible line to Rock river, crossing that stream at such point as may be selected by said railroad company; and any violation of the provisions of this section shall be a forfeiture of all the benefits, rights and privileges conferred by the first and second sections of this act on the said railroad company.
4th. The Milwaukee and Rock river canal company are hereby authorized and empowered to improve the navigation of the Milwaukee river on so much of the line as located for the Milwaukee and Rock river canal, as extends along that river to the point where said line leaves said river in section five, township seven, and range twenty-two, and also to continue said improvements, by canal or slack water navigation to the head of the Milwaukee falls, in town ten and range twenty-two; and for the purpose of making said improvement the provisions of “An act to incorporate the Milwaukee and Rock river canal company,” approved Jan. 5, 1938, are hereby extended to said company for the construction of said work, with all the rights, privileges, powers, immunities, and liabilities conferred upon and required of said company by said act of incorporation relative to the Milwaukee and Rock river canal, and the same are hereby conferred upon and required of said company relative to the improvement of said Milwaukee river.
5th. That in consideration of the surrender by the said Milwaukee and Rock river canal company of all right to construct any portion of said canal, except as is provided by the fourth section of this act, and in consideration of the abandoment by said company of certain real estate by them acquired on condition that the canal should be constructed on the line as located for said canal, and further to aid and facilitate the operations of said canal company in extending and perfecting the navigation of the Milwaukee river, it is hereby enacted that the Milwaukee and Mississippi rail road company be and they are hereby required to surrender to said canal company, so much of the canal as has been constructed, or is in progress of construction, on the said Milwaukee river, whereby the said line of navigation along said river shall remain to said canal company, separate and distinct from any property right of said Milwaukee and Mississippi rail road company.
6th. That the pame of the “ Milwaukee and Rock river canal company” be and the same is hereby changed, to the “ Milwaukee river company” and by that name the said company shall, from the taking effect of this act, be known in law and equity, in the same manner to the same extent, subject to the same liabilities, and clothed with the same privileges in all courts and public places as is conferred on said corporation, by an act entitled "An act to incorporate the Milwaukee and Rock river canal company," and none other, except such as by this act is provided.
7th. That the interest due from purchasers of canal lands to the canal fund prior and up to the twenty-third day of December, in the year 18.11, be and the same is hereby remiticd and discharged in full, and the payment of all other sums of money which have or may become due for the purchase of any of said lands, shall be postponed until at least twenty miles of the rail road shall have been completed, tending westward from the town of Milwaukee, and all interest monics which may become due until said twenty miles shall be completed shall be entirely remitted and discharged in full; provided however, that if Congress should not donate to said railroad conipany the said canal lands, or if said railroad company should not become organized in season to discharge liabilities falling due against the Territory, then it shall be the duty of the canal commissioners to call in so much of the interest moncys due from time to time as will discharge the interest falling currently due against the Territory for debts already contracted, and no more, until further provisions shall be made by law to meet any particular emergency if any such should arise.
8th. That whenever twenty miles of said railroad shall have been completed as aforesaid, the said Milwaukee and Mississippi railroad company shall have power, and the same is hereby conferred upon said company to proceed in the collection of such monies as shall then have become due as principal on sales of canal lands and thereafter from time to time, as any payment shall become due, either of principal or interest, said company shall be competent, and they are hereby vested with the power to proceed and collect in the name of the Territory, any sum or sums of money which may so become due, in the same manner as the canal commissioners are authorized to do by law.
9th. That the sales of canal lands ordered to be made in February, 1842, by proclamation of the Governor, be and the same are hereby postponed indefinitely, and no further sales shall be made until the lands are transferred to the rail road company as herein before provided, or until further Legislative action shall be had in relation thereto.
10th. That the first and second sections of this act shall take effect and be in force, from and after the same shall be approved by Congress; and the fourth, fisth and sixth sections shall take effect and be in force from and after the time when the same shall be assented to by the Milwaukee and Rock river canal company, by resolution to be duly passed by the board of directors of said company, a copy of which resolution shall be forwarded to the Governor, and placed on file by the Secretary of the Territory, and the remaining sections of this act shall take effect and be in force from and after the passage of this act.
I have thus in order to show clearly my views on this subject, presented them at length in the forın of a bill—which no doubt has some imperfections, being hnstily drawn up, and may therefore require some corrections or alterations, in case it should be taken up to be acted upon by the Legislature. But it presents a view of the whole subject, which I think it important to be examined as a whole before the Legislature should commit themselves by taking action upon any isolated point, which might render it difficult to correct by subsequent legislation, so as to arrive at a proper adjustment of the different interests involved.
By the process here indicated we arrive at four important results, viz
1st. We provide the means of releasing the Territory from its connection with the canal company, and of discharging it from all liabilities.
2nd. A final settlement with and discharge of the canal company.
3rd. Remittance in full, discharge of interest to settlers on the canal lands, and postponement of principal which may become due, until so much of the road shall be completed as will by necessary expenditures on the road, and the influence of business men and capital, attracted by it, enable all classes, even the poorest, to discharge their liabilities, without distress or inconvenience; and
4th. Such inducements will be held out to capitalists by ceding the lands as a bonus, as will ensure the taking of the stock, and the absolute completion of the work. A measure in which the whole people of the Territory, without regard to sectional lines or localities, have immense interest at stake.
If such a work could be accomplished, even with some personal sacrifice and inconvenience, the effort and sacrificc might well be made; but when it is so situated as to be perfectly within our reach, not only without any sacrifice, but carrying with it the means of cherishing and sustaining the individual rights and interests of the citizens, how important it is that every citizen who can exert any influence, should seize upon favorable combination of circumstances which is presented, and secure to the country the lasting advantages within our reach; and how much more is it not only the duty, but the glorious privilege of those interested, by the suffrages of their fellow-citizens, with the destiny of the country in their hands, to avail themselves of the means within their control, and finally dispose of the several exciting topics which have been sometime becoming more and more complicated, and at the same time secure to the country great and lasting benefits.
Is has been before said, that I had not the means at hand to fur