By the terms of the contract, as stated in the Acts of
i86a and 1864, this company was required to pay annually
to the United States, on account of the bonds and interest
thereon, five per cent of the net earnings of the aided road.
By the terms of the Thurman Act (May 7, 1878), this
annual requirement was changed to twenty-five per cent
of the net earnings. These requirements have always



ij J



13

been fully and promptly paid by this company to the
United States, as the amounts were ascertained by the
Government officers appointed for that purpose. Never,
theless, insinuations and charges have been frequent at
different times from irresponsible sources, that these require-
ments have not been kept by the company, or that the net
earnings have been continually stated at less than they
actually were, thus defrauding the Government of twenty-
^ve per cent of the amounts so understated. Eight sub-
divisions of the Act of Investigation relate to this subject.
