He remained in Washington, looking after the Pacific Railroad Bill, until it was at last passed and signed, and his opinion of the adventure on which this launched him and his associates was not different from that of the general public; this opinion, as well as a singular courage and determination on iiis part, were well expressed in the telegram in which he announced to his partners his success : '* We have drawn the elephant ; now let us harness him." Having telegraphed this message, he instantly went to New York to begin arrangements with hesitating and doubting capitalists for feeding the ravenous beast. It was now that all his (|iuilities of persistence, courage, financial ability and knowledge of men were brought to the test. The government bonds were promised only upon the completion of certain miles of road; the capitalists of New York would not take the bonds of the road until some part of it was in operation ; stock subscriptions came in too slowly to help out and Huntington saw failure staring him in the face. But his courage and determination rose with the emergency. Instead of going begging among speculators, or pledging his bonds for material, he boldly announced that he would not part with the bonds except for money -- cash ; and that he would not sell any at all unless a million and a half were taken. His boldness won ; but when the required amount was bid for, the purchasers timidly desired some further security, and Huntington, without a moment's hesitation, made himself and his four partners personally responsible for the whole amount, and it was on this pledge of their private fortunes that the first forty miles of the Central Pacific Railroad were built. But even then, so great were the straits of the enterprise, that when Huntington returned to Sacramento, after completing this first loan, and buying and shipping rails and other needed material, he found the treasurechest so low that it was necessary either to tliminish the laboring force on the work or raise more means.