The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1872-09-24

iuture ages. do not hesitate 10 say Il
, your presence and before the whole coun
try, that for purity Of sentiment, elevation
OF thought, OF purpose, broad philanthro
ply lofty benovolence elevated, statesman
ship. The speeches that Mr.. Greeley ha
delivered on his present tour through ii Thu
west have no equal, no parallel IN Ameri
can history, In the politics OF our country
Great applause. Il had never beer
Tor him before I would be for him TO
night Cheers. His election signifet
peace and reconstruction, signifies low
among the people Of the Union where hatI
has prevailed, signifies purity In every
department OF government. 1stood fortt
once to oppose this movement, but bowed
to 1t when my party decided to embrace
1t, Tonight | 60 further, l embrace Il
with all my heart, with all my mind
with all my strength, as tending to the
publication and redemption OF the whole
country, North and South, every.
where. Loud applause This spec
tacle Is bright omen Of success.
propose TO introduce 10 you, my fellow
Citizen, one Of the men who with his own
hands has carved for himself a foremost
place not merely in the history OF the
country, but In the history OF the world.
propose TO introduce one who from q
position Of labor and toll has placed him.
self In the front ranks oI mankind, Hor.
ace Greeley. loud and prolonged
cheering)
MIR. Greeley on beng introduced said
PEOPLE OF LDIANA-The distinguish.
ed gentleman who has just addressed you
pronounced the two watch words ol
the present canvass; the first Is Reconcil.
ialion and the second is Puridcation. l
have spoken here before on Reconcilia.
tion. lpropose TO speak to night on the
interest OF Purifcation, Our country has
recently encountered and vanquished the
peril oil disuniOn; she Is to-day confronted
with the deadly peril OF corruption.
The cancer is eating into her vitals,
whereof the essence Is purchased legisla.
tion, bribed public servant and several be-
trayls OF the highest trusts. These are
the elements. Let me endeaVor 10 illus.
trate her present peril by simply recount.
ing TO you beyond denial and undeniable
facts, which illustrate the history Of legis.
lation by Congress with reference to the
Union Pacific Railroad. / would fix your
attention on this as sample oi the means
whereby sChcming, selfish, avaricious
men cOntrive TO glut their own greed
while they talk Of public interest and
public benedcience. Ten years ago Con-
gress passed an act chartering the Union
Pacific Railroad. That act was intended
and calculated to secure o connection by
railway ol our Pacific with our Atlantic
States. A noble purpose and one
which cannot but be strongly com
mended. As it was certain that
private capital would not build a
road through two thousand miles of
mountain and desert, Congress resolved
to aid that enterprise generously. In the
first place the right OF way through the
public lands was granted, with the right
also TO take material from any part Of
the public domain. Next, q large grant
was made in aid Of the Pacific Railroad.
Thirdly, bonds OF the Government to the
extent Of over $4,000 per mile were
loaned to the company in aid Of the pro.
ject, and the first mortgage on the erailroad
taken therefor. 1t was thus provided that
the road should be built with the public
money for public uses by the charter
Of the company. After few years,
this project having passed into the
hands of capable, grasping men,
some Of whom were members of Con.
gress, new step was taken. The
Congress was induced TO authorize new
loan in aid Of his project, and an ade.
yquate amount with the government aid,
that is to say to the extent OF about $685.
600 per mile; and this new loan was au.
thorizcd to take precedence Of the gov
ernment loan, in other words, Congress
relinquished our first mortgage TO the
railroad and took second mortgage au.
thorizing the company 10 make a first
mortgage OF equal amount of ours. Now,
then our security was destroyed by this
way so that our investment was to be OF
no avail. A private company was some
where chartered entitled the Credit Mobi.
lier of America, and that private compa-
ny, or ring, was composed Of lot Of
active members OF the Union Pacific R.
R. Co., some Of them members Of Con.
gress. No list Of the stockholders Of
this Credit Mobilier was ever pub.
lished or can be obtained, but
these gentlemen proceeded to make
contracts virtually with itself, that Is to
say the same gentlemen officiating as Off.
GERS Of the Union Pacific Railroad contrac-
ted with themselves as officers of the
Credit MOblier of America 10 construct
the Union Pacific Railroad at enormous
prices, which absorbed both the bonds
loaned by the government and the private
loan Of the company OF an equal amount,
which was made the first mortgage en- the
property of the road. In other words
these gentlemen contracted with them
selves TO pay themselves twice the fair
cost Of entirely building and eQuipping the
road, and building the road with the pro.
ceeds Of money earned by the govern
ment. They proceeded to divide among
themselves The other bonds equal to the
amount which Congress had made q mort.
gage on the entire road. BY these means
100000 were divided among the par.
ties, and All that money go divided VIC
are called upon to pay. They divided
the bonds and built the road with gov.
erDment bonds, which were second
mortgage on that company. Now you
see these same gentlemen, who engineered
through Congress this project Of making
the road cost double what it should have
cost, and making one.half the cost q pri.
vate dividend among themselves, appear
before Congress for still further advant.
age. Congress had thus lar reserved to
the country such sums as this railroad
earned by carrying the mails, provisions
&c, for the army Of the United States
but the company said no. They said we
want TO reserve half ol the money, and
you can pay our half OF the money TO us,
Consequently, in March, 1871, an amend
ment was fastened upon the army appro.
priation bill, and the Secretary Of the
Treasury was instructed to pay over to
these cnmnanies half the money they