VI HISTORICAL MEMOIR. 



visited and addressed the people and the county courts of nearly 

 every county from St. Louis to the western boundary, and also 

 laid his plans before the Governor of the State, which the Gov- 

 ernor, after due consideration, substantially adopted. The 

 City and County of St. Louis, and the County of Jackson, sub- 

 scribed to the stock. Petitions to Congress in behalf of a grant 

 of land, as applied for by the Company, were circulated and 

 numerously signed in all the counties along the proposed line, 

 and in due time transmitted to Congress. 



The first division of the road (33 miles) having been put under 

 contract, the first spadefull of earth was removed, in the ab- 

 sence of the Governor, by the then Mayor of the City, Mr. Ken- 

 nett, on the 4th of July, in the presence of a large and enthu- 

 siastic audience, who were first addressed by the President and 

 Hon. Edward Bates. This memorable event took place at a 

 point on the south bank of Chouteau Pond, on Mr. Minckes' 

 ground, west of Fifteenth street. 



At the ensuing session of Congress, held in 1850-'51, a bill 

 passed the Senate of the U. S., granting for the railroad alter- 

 nate sections of land for a space of six miles in width on each 

 side, but was not reached in the House of Representatives. 

 In the same winter of 1850-'51, the President having been 

 elected to the State Senate, a plan for a complete system of 

 railroads for the State was laid before the Legislature by him, 

 including a form of State aid by a loan of the public credit. 

 This plan, which was soon adopted with some variation of 

 starting points, contemplated the issue of State bonds to the 

 Railroad Company to an amount equal to the amount first to 

 be advanced by the stockholders, the Company agreeing to pay 

 the interest and principal of the bonds, and the State reserving 

 a first lien on the road as security. The first act was approved 

 February 22d, 1851, and provided for the issue to the extent 

 of two millions of State bonds to the Pacific Railroad Company, 

 in sums of $50,000, upon satisfactory evidence being furnished 

 to the Governor, at each application, that a like sum of $50,- 

 000 had been expended by the Company, derived from sources 

 other than State bonds ; and provided, that the bonds should 

 not be sold below par. These bonds having twenty years to 

 run, and bearing six per cent, interest, were sold for a premium 





