HISTORICAL MEMOIR. Xlll 



authorized to make such guaranties in larger amounts than 

 $100,000 at a time, if expedient, and place them for sale in the 

 hands of an agent to be appointed by him, &c. The Company 

 was required to complete the South-west branch in four years, 

 pay the interest, and hold the State harmless from her guaranty, 

 or forfeit the branch road, lands and franchises. The same 

 act further provided, that whenever the Pacific Railroad Com- 

 pany had expended $500,000 west of Jefferson City, the Gov- 

 ernor of the State should issue to them $1,000,000, part of the 

 three millions granted by the act of Dec. 10, 1855, but not 

 issued ; and also granted a further loan of $300,000 of the same 

 three million loan, to be based upon a showing of half that sum 

 expended from stock subscriptions west of Jefferson City. 

 And the act also granted the same Company a further loan of 

 $1,000,000, to be issued in sums of $100,000, and the appli- 

 cations for them to be based upon proof of additional expendi- 

 ture of half the amount derived from sources other than State 

 bonds, and not included in any previous statement, and show- 

 ing also that the proceeds of all the bonds issued under the act 

 of 1855 had been expended in the construction of the road; and 

 the statement of expenditure to be exclusive of interest, dis- 

 count and commissions. These laws also provided, that the 

 work should progress continuously west so as to leave no part 

 unfinished beyond the reach of the means of the Company. 

 The act also postponed the payments into the Sinking Fund, 

 required by the act of 1855, until January 1st, 1859, when said 

 payments are to commence and be made as before required, 

 and within two years from that time the Companies are to 

 make full payment of all sums thus postponed. It was the 

 same act of March 3, 1857, which required the State Geologist 

 to make a thorough survey along the lines of all railroads 

 aided by the State, and to report in detail, to the President and 

 Directors, " all the mineral, agricultural and other resources 

 which may affect the value or income of the road under their 

 direction." 



By a proposed amendment to the constitution, which passed 

 the Legislature by an almost unanimous vote, and approved 

 March 4, 1857, the State debt is limited " to never exceed the 

 sum of thirty millions of dollars." This will become a part of 



