The national Republican., 1869-06-29

to precisely the samei so that the whole
sSnasd de- debt q ,hs road !: ot viii be sSl Io .oi
ltoad,) And II will show the average paid upon
II pcr mile in Government bonds 10 t7s,473 9s.
.sopd Ss %Sss sssn Il. sstp cO,
'gssel on the work, Informed ne thstii cod
ss Ss eo n on the 81 sy.ss sSsa. .9Sa ~. S
in ssnLke valley for afty.three and egN
1Sss osS sss sRssse o, for ses
the iron cost on the ground 800 per ton; ihsts
hnndlsd tons vess- asea- per milo costing
1000, sod thstit cost 900 per mile e lay the
,s, sa sefs ya :s%; sgss,.s s.s st
GnIIe nm q. the company receive $500 Per mile
ss,.sss eS: iss!sss lsEssis H s!Ps .'Ss %I.
'fel this purpsse, Aps there ,rsaalss sO,o.o
e. s SSsa. sss s' ssa b, y NM s sr. "a %I
fSiiisf stock, ", n.fiss Ge whcis allow.
And ne ~ y @ 80 tosstSs snS % Vii .sp. p.f ns
plu. Of $500 per mile above the cost Of the
Ssry inteiiisence 10 de,ePni"s wSs,Sst % % otd, thc
iheir own pockets 70 Saiid Il. but ssss tss
sssass sf is a. 'as saSs %
.SoSa Be :omsIeS, Ss aS build 'ss aud sI sSaip
sss Ssse and , . s, S5
making 10 all ssi, ,ssa 800 for The WI whoIs length
e the ocs road, l,Sss mns. S Lhe.s asar., Il.
smoant made By the compsny will never be
Know. for y will never be TO Its advantage
that that y should be; The .onp.ny receives, be
alternate section ofsisrd on each side OF the
f9sd f9t twenty Hilei. sEgIesatinE for, tho
does not il viii Ss sSnSwhst % ies.5 HIS Is Ooc soc
acre, snounts 70 d, ,ioa 400. Add thls smoaat %
% the tst,I 900 q bonds, snd We have = sum
Ave individuals miilionsires. But throw half
Of this away, and you have nearly thirty eight
an satisfied my estimate Ia low. Divide
sesIlssI1, the whole smount Of ooyernment
Der 81 Gsss miiss from o%ss ssis tss
meat subsidy per mile. Add 10 ihis the same
the Whole SsSt a5a w s1w
80 e,sisld per mile, or tlo6, ,23i ,TA In all, upon
which the Govcrurnent has only a second fen
m-in road aud branches, Inclusive. It has a See
ond lien for t62 901 ,lo2 furnished in bonds bear
Ing six per cent. interest. II 10 an easy thing
II Out Of the labor OF the producing classes,
whG have to pay all public debts, And not the
The Union Pacific II know nothing OF The
ysntral Pacific In this regsrd) has provided
for issuing el0o, 900 900 Of capital stock, anal
has actually issued about t2s,ooO,0oo. Thu
stock has been selling la the market hereto
fore at seyenty-hre to eighty cents on the dol.
lar How much 1t 10 worth now, 1 am rot ad.
yiscj. How much II viii be worth when u IA
not held by those who held the controlling
power over the road, Intelligent men can
judge. = VI
REcAriTuLATIoN.
u .G..N H.. a. -
Tor tS5,liGsja Of Governmen bonds tor
Us, ,ns.s12 moSkage bond,J for o., ,33ipS2 inter.
est paid for their u,e for 500 Al, $50 Tor % i92
eapitAl stock authorized to be issued on the
above basis, t26 900 900 Of which Ia In the hands
Of tho publio-ineome Of said roads. For the
all property Of. every nature and kind con.
The people to the railroad eomp.nIe. debtor:
For the privilege Of riding over said roads by
The amount realized for the capital stock.
whether twenty i've, nuy, or one hundred mil.
lions, IL so much additional gain to the COM
So The companies have tho bonds, tI0s, ,2sI,-
~, Tho benefit OF ", az, ,eG2 interest paid for
atao antus to. as above stated, siOo 900 600, The
lanis, 400 tI7,0ss, proceeds Of 25to2 ,3ja acres,
and own the road and all the property con.
nected with IL besides, This 10 what Is called
In this country tho enterprise OF capital and
q misnomer lee.
IL Congress madc a bad bargain hm not for
rcpudisting 1t. ! think, however, the uov.
ernment should protect Its Interest by avail
ing itself Of all reserved rights, and installing
uponA rigid compliance on the part of the
companies with their engagements before
any thing more 10 paid or the lands patented.
There Is certainly nothing wrong In this.
they are, by paying for II is all the people
will get for the enormous amount they have
been compelled to contributs for their con.
tsd saes sis sst,'ed
they may be assured of life and limb. Unusual
care should be taken In operating this road
aeoideat should happen to- passenger train II
would almost be imPosaible TO obtain medical
aid and P,9per shelter e, the wounded, 40
will add, In conclusion, that on my return
to OmahA I was shown = prepared report
gotten up By an officer OF the company, on the
hr.t seetlon Of twenty miles OF the road west
OF the last accepted section, setting forth It
was constructed In strict compliance with law,
the remaining sections were In progress OF
preparations that such was tho accustomed
way for reports 70 be prepared for commits
satisfied that / could, without a violation Of
duty, adopt the usual form and sign such a
paper, have prepared this report for myself,
PERSONAL.
Iregret being compelled TO 20 over the road
without my associates, In Consequence OF a
was to meet at Omaha, growing out OF an un.
expected delay 10 inAtFuotions. should have
been highly grhtined to have accompanied
General Warren and Hon, James =. Wilson.
| As that pleasure Vas denied me l was obliged
to perform my duty BY making the necessary
examination alone. Not even The privilege Of
consulting either OF these gentlemen before
this report was prepared was afforded me. |
therefore submit 1t for myself.
Most respectfully, ISAAC N. MORRIS.
at has beeu often assorted that tho Union PAeae
railroad |. not l.0s5 miles long. know nOtbinE
Of the truth of this The Goyernment, however.
should have the length Of all the roads upon which
II has issued bonds measured.