The democrat. [volume] (Weston, W. Va.) 1868-1874, 1872-10-07
NO.. ID.

puIlOSct HHu pho nAAStt
strongly commended. AS it was certain
that private capital would not build q
road through 1000 miles Of mountain
and desert, Congress resolved to aid that
enterprise generously. In the first place
right OF way was granted with the right
also to take material from any part OF
thepublic domain. Next, n large grant
was made in aid Of the Pacific Railroad.
Thirdly, bonds OF the Government to the
extent Of $4,000 per mile were lent 10
the Company in aid OF this project, and
O first mortgage on the railroad taken
therefor II was then provided that the
road should bc built with public money
for public use by the charter Of the Com.
pany. After n few years, this project
passed into the bands Of capable, grasp
ing men, some Of whom werc members
OF Congress, u newl step was taken.
Congress was induced to authorize new
loan in MD Of this project, and an equal
amount from the Government aid, that
is to say, to the extent OF ut least $40, 200
per milo, and then new loan wns author.
lied to take precedence Of the Govern.
ment loan. In other words, Congress
relinlnished our first mortgage on the
railroad aud took second mortgage,
authorizing the Company to mako q
fresh mortgage Of equal amount ahead
OF ours. Now. then, Our security was
destroyed in this way, so that our invest
ment was to be OF no avail. III little
while Il private company wns somewhere
chartered, entitled the Credit Mobilier Of
America, and that private company was
composed OF lot OF active members Of
the Union Pacific Railroad Company,
some OF them members Of Congress.
No list OF stockholders OF tho Credit
Mobiller was evor published, or can be
obtained; but these gentlemen proceeded
| to make contracts virtually with them.
selves; that is to say, tho same gentle
men officiating MS officers Of the Union
Pacific Railroad contracted with them
selves as officers OF the Credit Mobilier
OF America to construct the Union
PaciRc Railroad ut enormous prices,
which absorbed both tho bonds lent by
Government and the private loan Of the
company OF equal amount, which was
made the first mortgage on all the prop
erty OF the road. In other words these
gentlemen contracted with themselves to
pay themselves twice the fair cost OF Gu
lirely building and equipping the road,
and, building the road with the proceeds
Of the money lent by tho Government,
they proceeded to divide among them.
selves tho other bonds, equal to the
amount for which Congress had made u
mortgage on the entire road. BY this
means 900, ,0O0, 900 to $4,000, 900 were
divided among the parties, and all that
money so divided We arc. called upon to
pay. They divided tho bonds, and built
the road with Government bonds which
were a second mortgage on that Com.
pany.
Now, you SEQ these same gentlemen
WHO engineered through Congress this
project Of making tho road cost double
what it should cost, and making half tho
cost q private dividend among themselves
these gentlemen now appear before
Congress for still greater advantages.
Congress Inns thus far reserved to the
country such sums as the railroad earn.
ed by carrying mails md provisions etc.,
for tho army Of the United States ; but
the Company said "No." They said :
ave want to reserve half OF the money,
You can pay over half Of the money to
u.s." Consequently in March, 1871, by
nm amendment fastened on Gn Army
Appropriation bill, the Secretary OF the
Treasury was instructed to pny over to
these companies half OF the money they
had earned by carrying the mails aud
army supplies, and only rescrvlng half OF
those eOrnings toward the payment ot
the interest semi-monthly, accruing on
bonds duo to the United States. So
that on this day the people OF this coun-
try are paying some millions per annum
ont OF their hard earnings for interest
on these bonds lent TO the Pacific Rail
road, paying this money as interest to
meet the vast sums divided by these
gentlemen among themselves, as the
Credit Mobilier Of America.
Now, gentlemen, l do not say whaI
individuals have received this money,
but I do say that by corrupt Legislation
In the WY Of individual gains $50, ,0O0,'
900 or $40, 900, 900 have been saddled OF
this country-an unjust aud unrighteoul
debt. We are called upon 10 pay the
interest now every six months, ant
after thirty years must pay the principal
and all this because the men who wert
at tho same time legislators and corpora
Tors corruptly used their Legislative
power to fasten this corrupt debt upol
tlo people Of tho United States Now
then, stand here, fellow. citizens, t.
insist that the legislation Of your coun
try, National and State, needs purifica
ton, and that the leading men in OIL
Government who arc speakers, and thu
members of tho committee OH tht
Pacific railways and other railway
should be called to justice. We neet
reconciliation. We need purifcation
and this not less than the other. Til
letters of Oakes Ames, the undeniGd ant
undeniable letters Of member OF Con
gress, and n corporation, and a larg
stockholder in tho Union Pacific Rail
road, whereof lie was lately President
these letters incontestibly prove corrup
ton, and corruption in high places
Such legislation as l have briefly expos
cd to you could not have been accom-
plished, could not have been eilcctei
without the connivanco and support o
men in high authority, and these fact
assure you that puriication is urgentl!
needed.
OCCUPATION oPAFmNcH BELLE. -Th
amount Of toll u young and pretty gil
ut Trouville undergoes each day issomC
thing astonishing. Very likely she
, lnp at G O'clock in the morning, and wit