In 1854, the application was renewed, and was successful. The Act was passed on the fifth day of April, 1854. By the first section, the treasurer was authorized to issue scrip, as certificates of debt, for the sum of two million dollars, to be expressed in the currency of Great Britain or in federal currency, as the directors of the Troy and Greenfield Railroad should elect, to bear an interest of five per cent., payable semi-annually, and redeemable in thirty years, for the purpose of enabling the Troy and Greenfield Company to construct a tunnel and railroad under and through the Hoosac Mountain, in some place between the "Great Bend" in Deerfield River, in the town of Florida, at the base of Hoosac Mountain, on the east, and the base of the western side of the mountain, near the east end of the village of North Adams, on the west. The scrip was to be delivered to the treasurer of said Troy and Greenfield Railroad Company in the manner and upon the conditions following:--$100,000, when it should appear to the satisfaction of the governor and council that said company had obtained subscriptions to their capital stock in the sum of $600,000, and twenty per cent. upon each and every share of said six: hundred thousand dollars should have actually been paid in, and seven miles of their railroad and one thousand lineal feet of their said tunnel under the Hoosac, in one or more sections, of size sufficient for one or more railroad tracks, should have been completed. $100,000, when ten miles of their said railroad, in one or two sections, and ten thousand lineal feet of their said tunnel, in one or more sections, should be completed. $100,000, when fifteen miles of their said railroad, in one or two sections, and three thousand lineal feet of their said tunnel, in one or more sections, should be completed. $100,000, when twenty miles of their said railroad, in one or two sections, and four thousand lineal feet of their said tunnel, in one or more sections should be completed. $100,000, when twenty-five miles of their said railroad, in one or two sections, and five thousand lineal feet of their said tunnel, in one or more sections, should be completed. $100,000, when thirty miles of their railroad, in one or two sections, and six thousand lineal feet of their tunnel, should be completed.