Worcester daily spy. [volume] (Worcester [Mass.]) 1850-1888, 1871-01-10

MR.. ALLEYS SPEECH.

MIR. ALLEYS SPEECH.
At the meeting Of the creditors of Cakes Ames
and the companies with which he is connected,
held in Boston, yesterday, Hon. John B. Alley
explained the connection of Cakes Ames with
the Pacific railroad as follows:
CHOW, gentlemen, wish to say few words
in behalf of Cakes Ames. 1t is due to him, to
you, his creditors, and to the community, that
he should be vindicated, and an explanation
made why he finds himself in this position
What say now is without his knowledge, and
upon my own responsibility; butt know whereof
affirm ! assert without fear of contradiction.
But for him, his boldneSs, his courage his en-
ergy, that greatest of achievements in ancient or
modern enterprises, the building of the Pacific
railroad, would not to-day, nor for a long time
to come, il ever, have become an accomplished
fact. hesitate not to assert that if the national
government, which saves many millions annu-
ally by its construction, had been as faithful TO
its obligations as he, and those with whom he is
associated in the management and direction of
this road, have been to it, he would not have
been Obliged to ask at your hands the accommo-
datlon which his necessities now demand. In
stead of denunciation and abuse the builders of
this road had right to expect the cooperation
and gratitude of both government aud people
but contentious factions, rival interests and
wicked spectators have done therworst to mis-
gard 10 its construction and management, and
they so far succeeded, in connection with black.
mailing, plundering and swinding-legal raids
upon its operatiOns-tO so impair its credit that
Mr. Ames, assisted by a few others, was com.
PEELED 10 take it upon his hercuean shoulders
several times, and lift it out of difficulty. To
do this he invested largely in its securites-and
this demand lately made by the government
just as the road was getting into good position
and "out of the woods" reduced their market
value so much that, with all his other burdens
he was obliged to succumb. The demand was
as unexpectedly sudden as il was uniust-for
venture to say, no fair-minded man, who was in
congress at the time the bills were passed as
Mr. Ames and myself were, ever dreamed OF
such demand being made by the government
10 be sure the real demand of the government
/ Is not so very burdensome, and ought not 10
| have seriously affected the securities: but the
misrepresentation of the public with regard to
| the extent Of the demand has reduced the mar
4 Ret value very materially.
IF you will pardon me will briefly state how
| it happened that Mr. Ames got into this enter
| prise. He was a member of the Pacific railroad
committee in congress, and he felt as we all did
the great and Overshadowing importance to this
| nation of having a railroad across the continent
| and YOU all remember how much it was dis
| cuSsed and how indispensable il was regarded
| remember well that President Lincoln said tC
me one day, that he regarded it so vital for th,
| political safety Of the nation as well as to the
| material interests of the country, that he SHOULD
| 20 for almost any bill which the capitalists O.
| the country would accept and agree to build the
road under.
"The first bill passed by congress provided
that The whole of the earnings of the roat
in the service of the government be appro
priated to the payment Of the bonds and inter
est. They found that they could not induce
capitalists to build the road under that bill, and
they returned the next year and had it amend
Cd so that only one-half the earnings in the ser
! wee OF the government should be retained anC
| also mat the government lien should be
! second lien. Mr.. Ames was on the committet
and favored this bill. He came to me an,
asked me to support it, / told him i
secuted 10 me almost too favorable BILL but
| oil course, he was on that committee and hat
examined it thoroughly, and / should defer L
his Judgment. ! remember his reply distinctly
| that he did not think it too much 10 giy
them. 1t was of inestimable value 10 the gov
eminent and people, and if they could fipd fool
enough to build it under that bill he should h
glad Not he or any other member of conad
had the slightest idea at that time of eDe
in this great work. Under that bill as
capitalists, chiefly in New York, We
to pay in, believe, about half m. 1
| the work progressed for some months W
| got discouraged and concluded to lose WI w
had put 10 rather than risk more Unde
circumstances, Mr.. Ames was appealed 10,
than year think after the passage OF <
bills under which the road was built. | rem
| Der he called upon NE and asked me to ioin Il
aud Others and lift this enterprise out Of its q
barrassment and try and put it through. 4
| urged upon me the patriotic considerations of il
immense benefit 10 the natiou and the grea
credit that all would ret from the American pee
pie who were instrumental in its completion
He also felt that If properly managed