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Updated: September 7, 2025
A series of resolutions, in drafting which Madison and Jefferson took part, was presented, calling for minute particulars of all loans, names of all persons to whom payments had been made, statements of semi-monthly balances between the Treasury and the Bank, and an account of the sinking fund and of unexpended appropriations, all from the beginning of the government until the end of 1792.
In a few months the firm bought out the semi-monthly line of Hockaday and Liggett, believing that by uniting the two companies the business might be brought up to a paying standard, at least meet the expenses if nothing more. As soon as Russell, Majors, & Waddell took hold of the line, the time between St. Joseph and Salt Lake, a distance of twelve hundred miles, was reduced to ten days.
In 1851 the postmaster-general was authorized to increase the Pacific trips to semi-monthly; and the subsidy was increased. Thus the yearly total became three hundred and forty-eight thousand two hundred and fifty dollars. By this time on the Atlantic side the Collins Line was in promising operation.
The appropriation by the last Congress of two hundred thousand dollars for the construction of a wagon road from El Paso to Fort Yuma, and the two mail contracts, semi-monthly and semi-weekly, which involve an expenditure of nine hundred thousand dollars per annum, will afford employment to a host of people, and draw at once to the neighborhood of the route an active and energetic population.
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