Daily Davenport Democrat. [volume] (Davenport, Iowa) 1864-1874, 1869-01-04

The Washington papers contain the fo.-
Ymws~r xrannenaeapt

SW indle.
The Washington papers contain the fo.~
loving announcement
The President on Monday accepted
twenty miles Of the Urion Pacific Railroad
mixing eight hundred and eighty miles
nos accspted-and directed the bonds TO
oe l-suei on the sams, to the amount Of
!. sea-. ooo."
The eatire length Of the Pacific road is
.ioj niles. The estimated cost Of the i'm
gtsvemsat, mot the whole coat as the road
should be completed. but 40 heretofore
bs,l and accepted BY the Commissioner"
= the Govctnmen, Director states, stss,-
MA SAT. When completed tue teal issue
Of Gated States bonds, bearing six per cent.
Satssest IN currency, 10 the road, . subsidy
frpm tie Government to the Company, will
amount 10 s2a Boa 900, or an average per
inile q s2s.5o0. In addition TO this aid
rom The Government, the Government d.
rertcr, in his report 70 the Secretary Of tbs
Interior, prtse The foi,ovin. facts:
THIS Company, As the ROAD progresses
ISSUES .ts oSa first mortgage bonds 10 the
same amnaai. These are ak per cent. thirty
year bon :, principal and interest payable
10 coin, ai.a are n prior lien to tha: Of III.
govern nen,.
- imaiing the government bends ~
par. and the Company's frs. mortgage
eQnds Al % per cent. over all expense Of
nsercses and commissions, the total cash
proceeds amount to ST. 647, $50, averaging
per mile, s5l ,034.
The lands granted b1 Congress, whats
ever may be their value, not, in my juds.
1nrnt, very large, is further bcstovm.n Mt
from the government"
We learn these faces from this Official re-
port: This actual cost o. the road 10 little
less than s35 900 per milo. while he acsus.
proceeds 10 the Company, VII ch occupies
the relation Of contractor 70 the Govern
msn', arising from the sale cf the United
s;atessnd FRS, mortgage bonds are 50; ,034
per mile. leaving the arug profit to .he con-
psny for constructing the road OF $24 ,45i
psr mile. or an aggregate p OH. Of treaty-
.erss millions, one Hundred ara fort. IN. e.
thousand nine hundred and .fs.sy do la,s.
l, 'sevident from these figures that tao
ccnsuusticn Of the road Was ir ,enued AZ a
swinde rom tho beginning, and is ono OF
the gigantic frauds u,on tho Cover nment
which may be charged up 10 Radical rule.
A mo e hungry and rascaliy set Of cormor-
ants :han tho leaders Of the Esdlca yarty
never dssraced any Government, and Jude
ins from the various schemes nov before
Congress for further depicting o. the Treas
uty aud adding TO the public dsot. there is
no doubt but the hungry prck. ,nier acme
plausible disguise, will secure e.. ther sub
s.1ses
Bot this is MT MI. Tie G9verrmer. 10
accepting the road hom tho contractors or
The company. not IS il shorld 6e completed
an this ~ the . atement OF the Govern
men. Drector-s.nut as heretofore built
s.d accepted BY the Commissioners" And
hns = that7 a Washington paper pub.
ash.- letter from Cheyenne, Dscotah
festitarv, which is voucncd Cor as being
irsm an intelligent and reliable sou, cs, that
contain. the following extraordisnry state.
mea,
tina, tho Pacific road will have to be re-
aasls IN one year from this date, OF A. least
the greater part oil il. have been over
every inch OF tho road several times, and
kaow that am stating facts
From this representation II 10 apparent
that the road does no. cost the contractors
even tho c.t,mAtc uf the Government Di-
reef9r, and thai. when completed, as it has
been thus far, will MT DO worth even Il Q
hls' meitsagr bonds. As the Govern ment
ny holds TN second mortgage londs TO
secure Ini,ed States bonds issuad TO the
Hai. fhc prospect is that ste will be swim
aied ent = htr advances, which amount TO
tn4re han the satlre cost OF the rond a. it
has h-sn constructed. This great under
tsklar. tren which 20 much has been ex.
ptc;ed Nv The people, Is likely to prove =
tsAWFe q Is present hards. Ii the holders
~ The FIRST mortgage bonds DO not take
Nc'a q. 'hv road aud complete II as IL should
he. ist Government viii have to finish AMI
fin {, q elise it will soon become an
ain q worthless monurpsn, Of gigantic
t-sm
Alter reading the report Of the Govern
mens Director, If Congress does no: prompt
i iGt an end to tho suindls tho suspic on
wii tc wei! founded that Congressman are
interested parties in the fraud and are prof.
,iing Nv il.
Tho people can see from this exposure Of
one fraud upon tho Government under Rad
icsl RUE the way the money goes. And il
will continue TO 60 IN \ similar way as long
- the party in power have the control Of
public affairs. and free access TO the Treas
ury. Il General Grant attempts isuench-
ment and economy a. no prom. .ss to do, he
s.l have a big job on hand and powerful
opposition to the execution Of such . pur-
pose-a more difficult undertaking We think
than the CAPTURE Of Richmond.
gHs Boston Post says, "Ths Pref lent
has only seconded, il his general proc'sms'
lion OF rs-don the sentiment cfths country.
T. cam. a, happy time, not moro fsr the
magistrate who prctfstei than for the Gov
eminent in i" embarrassed delay Of the
triAs il has 40 long threatened. Ry the
terms Of tho proclamation. no individual
nev remains who is amendabls 70 the law
N scasr1e Of treason, because Of parttcips.
eoa in the a:s rebellion. The political
right OF offenders have not been restored u
thea. except in such instances - congress
has seen ft 10 interpose; but in regard "a
civil rights they ataud on the same footing
sish those who are oss favored and free
II the e,untrv. Christmas was Ct time