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speculate in lands, they only exercise the right naturally possessed by every citizen and which has been legally conferred on them. If no grant of land had ever been made to the Territory, would it be pretended that the company would not have had a right to invest their means as might best meet their interests? Was it not under the full assurance that the rights conferred on them should be religiously preserved, that they incurred the labor, expense and risk in applying to Congress for the rich boon that has been granted to the Territory? And shall it now be said that having this placed in the hands of the Territory the basis of a fund worth half a million of dollars, it shall be used as a rod over them, or as an engine to wrench from them the rights conferred by solemn enactment?-Never, never.

At the best the privileges conferred on the company are barely sufficient to induce capitalists to take the stock and our enemies confidently predict that we cannot get it taken at any rate; if this be so, it appears to us clear, that good policy to say nothing of good faith would dictate that those privileges should remain unimpressed-without means being raised by the company it would be impossible for the Territory to accomplish the work. The sale of its lands if judiciously managed will probably pay one half of the expense, and but little if any more-where would the remainder be obtained? We, as citizens of the Territory would not advocate the contracting a debt on behalf of the Territory for that purpose, to be paid by taxation, even if the Territory had the lawful right to contract such a debt; which we believe not to be the case without express authority from Congress. If then the Territory cannot and ought not to contract such a debt and possess no means of revenue it is evident that, single handed she could not perform this work and the attempt would be futile.

A spirit of amity, and an united cooperation of all the available financial elements properly applicable to