The New York herald., 1869-06-28

4 In0 UNION Euc1oc h601AFOo0s
The report of Commissioner Morris to Presi-
dent Grant on the unaccepted portions of the
Union Pacific Railroad contains statements
and suggestions which are both curiously inte-
resting and seriously important to the public.
Not being satisfied that he could, without
violation Of duty, sign the reports prepared in
advance by officers OF the road for the sigma
lures OF the Commissioners, Mr. Morris has
made the requisite examination himself and
drawn up report OF his own. According to
the best Of his knowledge and belief this disin-
terested witness testifles that the government
has made bad enough bargain with the rail-
road companies. He would not however,
have this bargain repudiated. Only he feels
bound TO insist that government should at
least protect its interests by availing itself Of
all its reserved rights and requiring rigid
compliance on the part of the companies with
their engagements before anything more is
paid or the lands are patented. After having
shown what an enormous amount the people
have been compelled TO contribute for the con-
struction Of a road. over which they in return
are TO get only the right of passing by paying
for II, Mr.. Morris is certainly justified in his
demand that the people shall be entitled TO
have first class road In all respects, on which
they may be'assured against danger to life and
limb. lie rightfully claims also that unusual
care should be taken in operating as well as in
constructing IL ''for IL serious calamity
should happen to passenger train 1t would be
almost impossible 10 obtain medical aid
and proper shelter for the wounded,
so sparsely Is the country settled" He
may well say that what Is called
In this country the enterprise Of capital and
its investment for the public good ''may be
misnomer," in view OF the startling balance Of
accounts which hc presents. He thus reca-
pilulates the items Of Indebtedness on the part
of the railroad companies to the people The
companies have the bonds. $iO6, ,23l. .744; the
benefit Of %, 33i, ,962 in trust paid for them by
the government; the capital stock, amounting
10 800, 900, 900; the lands, $50, All, ,05G, pro-
ceeds Of %, 492, 352 acres, and own the road
and all the property connected with it besides.
On the other hand, the people are indebted to
the railroad companies for the privilege of
riding over the roads by paying for 1t.
Mr.. Morris contends that in consequence OF
the unfortunate consent OF the government 10
the request Of the railroad companies that,
contrary TO the original provisions Of the char
ter making the government bonds first lien
upon the road, these bonds should be made a
second lien; that they should be allowed TO
issue mortgage bonds in amount equal to the
government bonds; that these mortgage bonds
issued by themselves, should be the first lien,
and that other additional advantages should be
granted-thc result must be o sale of the road
under the mortgage bonds OF the companies,
and at heavy loss to the United States govern
mcnt. He declares, moreover, that the road
is not completed, nor anything ike 1t, and the
power is yet in Congress to protect govern
ment by restoring the government bonds TO a
first lien, they stood In the original charter,
and making the mortgage bonds a second
instead Of first lien. Certainly, If 1t be not
too late to prevent the people and the govern
ment from being robbed on a grand scale, In
order to make few individuals millionnaires,
Congress should prevent 1t promptly and
effectually. The Pacific Railroad, which might
be a national glory, should nx be suffered to
become nation al disgrace.