1867.] OF THE SENATE. 281

lour committee cannot deem it wise policy, consid-
ering the vast interest which the city of Baltimore has in
building up trade with the South, to adopt any legislation
which will operate to defeat the only railroad connection
which will bring this large trade to the commercial emporium
of the State. Unless the Baltimore and Potomac road is con-
structed, your committee feel satisfied that measures already
inaugurated for the building of the Alexandria and Fred-
ericksburg railroad will take this trade to Alexandria and
Washington, which, together with Georgetown, embrace a
population of near one hundred and fifty thousand inhabi-
tants, with the depth of water of the Potomac admitting of
navigation by the largest size steamers, nothing would pre-
vent the concentration of a large Southern trade at these
cities unless it be the diversion of this trade to Baltimore by
the Baltimore and Potomac road.

Your committee, being thus deeply impressed with the ad-
vantages which will accrue to Baltimore from securing this
short and only line of communication with the South, look
forward to the construction of this road as the completion of a
grand system of railway communications concentrating in one
great city, bringing trade, travel and commerce to this com-
mon hub or centre from all points of the compass, and inev-
itably adding vastly to her wealth an I prosperity.

We further learn that a contract has been made for the
construction of the main item of the road with a lateral
branch to Washington city, a copy of which contract is sub-
mitted as a part of this report.

In pursuance of the stipulations of this contract, five miles
of the road have been already graded, and a sub contract has
been made for the grading of additional sections of the road
in the direction of Upper Marlborongh and beyond the point
at which the lateral branch leaves the main stem. The
right of way for a portion of the road has been secured and
paid for, and deeds have been executed to the company. Fi-
nancial arrangements for the construction of the entire work
have been negociated, and the faith of the contractors has
been involved to the extent of thousands of dollars.

Although the Constitution of 1851, and the Act of incor-
poration reserved to the Legislature the power to amend,
modify or repeal the charter, yet the extent to which this
power may be exercised under the prohibitions of the tenth
section of article first of the Constitution of the United
States, which declares "that no State shall pass any law im-
pairing the obligation of contracts," is a new question which
has not yet received an adjudication in the courts.

While your Committee feel satisfied that under this reser-
36