The New York herald., 1870-05-12
The seuthern Pacific Raiiroad-'cnora
aei Fremont aud His Dimculties'

| The reader will dnd IN THIS paper sta'o-
ment from Washington correspondent set
ting forth. az he understands them, the
facts IN connection with General Fremont's
difficulties in Congress touching his great
Southern Pacific Railway enterprise. From
this statement it appears that the Memphis, Ell
Paso and Pacific Railroad Company was in
corporated by the Texas Legislature Febru-
ary 4, 1856, for the purpose of constructing
and working railroad from the eastern to the
western boundary Of the State; that on the
same day, by said Legislature, supplemental
bill was passed, providing, among other
things, that II one hundred miles of the road
be not finished within four years, &c., the
charter shall be null and void; that the COM
pany failed to meet this condition and other
conditions; that under the rebellion the Con-
federate State Legislature passed an act that
might be construed as relieving the company
from it's obligations without forfeiture Of its
charter, but that the best lawyers in Congress
are of the opinion that the charter is null and
void
1t next appears that some time after the
collapse of the rebellion General Fremont got
possession of this old Texas charter, or
became president of the company controlling
it; that to establish its validity he managed
to get joint resolution through the House of
Representatives granting the right of way to
the Memphis, Ell Paso and Pacific Railroad
Company from Ell Paso to the Pacific Ocean; )"
that about the same time the bonds of the
company were put upon the market in France;
that copies of the resolution as it passed the
House (the Senate not having acted upon it)
were forwarded ''to show onr foreign friends
the national character of the enterprise" and
that upon these representations bonds Of said
company have been sold, mostly, if not
exclusively, in France, to the amount of
eight millions, four hundred thousand dollars,
and that General Fremont if not directly
responsible, is at least guilty as consenting
and interested party to these questionable
operations.
These are serious accusations, and yet in
the same statement it is further charged that
''the same ring is now before Congress with
another job, styled ga bill Incorporating the
Southern Trans-C Continental Railway Company,
and granting the right of way and lands to aid
in its construction; that in the matter of
bonds the bill proposes construction bonds
fifty thousand dollars mile, secured on road
bed, franchise, &C., and land bonds to the ex-
tent of three dollars an acre, secured on the |
lands, &c. We are further informed that the |
new bill ''nationalizes" the old Texas, Mem
phis and Ell Paso charter, and gives the COM
pany right of way through to the Pacific.
Now, prima Jacie, this appears very dam
aging statement of facts against General Fre-
mont. We are not, however, disposed to pre- |
Judge him or his case. From his first explora-
lions in the Rocky Mountains, as the ''Path-
dnder," we have always had high opinion of |
the General in consequence of his great public |
services and his modest pretensons. Nor are |
we prepared to believe that at this late day he
has become so unscrupulous as speculator as
to be guilty to the extent charged or insinu-
ated in this aforesaid statement from Washing
ton. Indeed, the facts presented are admissi-
BILE of quite different construction from that |
which is given them by our correspondent,
though we cannot doubt his convictlbns from |
he facts as they appear to him. At all events,
having given the case as made out against |
General Fremont, in fair play our columns,
within reasonable limit, are open to his de-
ence.
With regard to the bill now before Congress |
it does not appear to US 80 very monstrous in
its demands after all. The lands proposed to
be granted will never be worth anything to the
government without railroad, and a consider
less as the desert sands of Arabia. We refer
to the lands of that irreclaimable desert, for
instance, west of the junction of the Colorado
and Gila rivers, and to the lands on portions
of the line east through Arizona and New
Mexico. The bonds proposed are to be Sc
cured by the road and by the lands of the
road, and are not to be, as usual heretofore, an
extra gift of so much in bonds from the gov
ernment. We presume, too, that with the
''nationalization" Of this line, including this
old Texas charter, that the State of Texas, in
view of the great advantages Of the proposed
road in the transportation of her many thou
sands of cattle to market, will cheerfully make
it all right with those French bondholders.
Beyond, however, the facts submitted by
our correspondent against General Fremont
and his old charter and his new bill we know
nothing of this business. We publish the
statement submitted, not as an enemy of Gene
raj Fremont, or as party on any side in this
imbroglio, but because we desire to bring out,
in the interest of the public all the facts neces-
sary for q full and fair understanding Of the
case. We want Southern Pacific Railroad.
1t will be cheap to the government on the
terms proposed. General Fremont knows the
whole country to be traversed better, perhaps,
than any other man, but we want all these
doubts, charges and insinuations cleared
away. We have had 80 much overreaching
.rl So-,t,ie dealing in these railway Jobs from