Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1872-09-24

poned that purpose, all excuse for boarding
has vanished. Let the government pay II:
I debts so far al its means will go, and thu:
hberate the mOneyit now tselessly hoards
| to invigotate the business and industry oi
the country. Such, gentlemen, are my
ideas of fnauee, and having stated them l
viii relieve you from further attention.
.loiasid - go 90 5s
lv Another Speech at Night.
| aIrsieesr Tli -. l.srtf-f
He Comes Down on the Corruptionists
0Tf 1ac ~
The Union Pacific Credit MobiIief.
sso
Mr.. Greeley was introduced 10 the vast
audience in the State-house yard tonight
by s ~ 10 -
.ga Hon. Daniel W. voorhees,
| as follows: sps- 7aa s.7 p ll 81 al
= Ny fellcN-c N-citiEens-T The honor of intro
dueing the distinguished gtiest to- night has
been assigned TO me. 1t Is wen known, my
friends that when this great movement be-
gan my relations 10 1t were not what they
they are now. compiled, however, with
the behests of my party when the exponent
OF our principles, who is here tonight, was
placed in nomination. Since that time my
judgment, my heart and my mind has be-
come thoroughly impregnated with tho be-
lief that We are engaged in the great move
ment for the redemption and benefit OF our
country. The gentleman who Is your can
didate has commended himself in large
degree to our support and oar confidence
by his public sitterances BOTH in letter and
speech. The speeches which he has been
delivering In bis present tour win be among
the few specimens Of political literature
preserved for the admiration of future ages.
do not hesitate to say in your presence
and before the whole country that for
purity of sentiment, elevation of thought,
integrity of purpose, broad philantrhophy,
lofty benevolence and elevated statesman
ship, the speeches that Horace Greeley has
delivered on his present tour through the
West have no equal, no parallel in Ameri
can history in the politics Of our country.
[Great applapse.] If had never been for
him before, | would be for him tonight.
CCheers. His election signifies peace and
reconciliation, signifies love among the
sections where hate has prevailed,
signifies purity in every department
of government. ] stood forth once to OF
pose this movement, but bowed TO it when
my party decided to embrace it. Tonight
60 further; tonight embrace it with all
my heart, with all my mind, with all my
strength, as tending to the publication, the
redemption Of our whole country, North
and South, everywhere. Loud Applause.)
This spectacle is bright omen Of success.
propose to introduce TO you, my fellow
citizens, one of the men who by his own
brain and hands has carved for himselfa
foremost place not merely In the history of
the country, but in the history of the world.
propose to introduce one who from the
position of labor and :oil has placed himself
in the front ranks of Inankind--lIoraee
Greeley. cloud and prolonged cheering)
- Mr. Greeley,
on being introduced, said:
People of Indiana: The distinguished
gentleman who has just addressed you has
pronounced the two watchwords of the
present canvass: the first Is reconciliation,
and the second is publication. have spO-
ken heretofore on reconciliation. / pro-
pose to speak tonight In the interest ofpu-
riic2tion. Our country has recently en-
countered and vanquished the peril of dis
uion. She is to-day confronted with the
deadly peril of corruption. The cancer is
eating into her vitals, whereof the essence
is purchased legislation, bribed public
servants and several betTayals of the high
ests trusts. These are the elements. Let
me endeayor to illustrate her present peril
by simply recountirg, beyond denial and
undeniable, the facts which illustrate the his
tory of legislation by Congress with regard
the Union Pacific Railway. would fix
ysur attention on this, as sample OF the
means whereby scheming, selfish, avari-
cious men contriye 10 glut their own greed
while they talk of the public interest and
public benefcence. Ten years ago Con
gress passed all act chsrtering the Union
Pacific Railway. That act was intended
and calculated to secure the connection by
railway of our Pacific with our Atlantic
States-a noble purpose and one which
cannot but be strongly commended. As It
was certain that private capital would not
build road through 1900 miles of noun
tain 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 do
main. Next large grant was made in aid
of the Pacific Railroad, and thirdly the
bonds of the Government TO the extent of
over So, 700 per mile were loaned to the
company in aid ofthis project and the first
mortgage on the railroad taken therefor.
1t was thus provided that the road should
be built with public money for public uses
by the charter of the company. After a
few years this pcoject having passed into the
hands of capable, grasping men, some of
whom were members Of Congress, new
step was taken. The Congress was in
duced to authorize new loan in aid fthis
project and in equal amount with the
Government aid, that is To say to the
extent Of al least 25 600 dollars per mile,
and this new loan was authorized to take
precedence of the Government loan; in
other words Congress relinquished our first
mortgage on the Railroad and took a sec.
ond mortgage, authorizing the company TO
make first mortgage of equal amount
ahead of ours. Now then, our security
was destroyed by this law, so that our III
vestment was be Of no avail. In a little
time private company was some where
chartered entitled the Credit Mobilier Of
America and that private company or ring
was composed Of a lot of active
members Of the Union Pacific
Railroad Company some OF them member
of Congress. No list of stock holders Of
| this Credit Mobilier was ever published
or can be obtained. But these gentlemen
! proceeded to make contracts virtually with
| itself, that is to say the same gentlemen OF
| iiciating as officers of the Union Pacific
Railroad, contracted with themselves as Of
| ticers Of the Credit MObiler Of America, TO
| construct the Union Pacific Railroad at
enormous prices which absorbed both the
bonds loaned by the Government and tire
! private loan of the company Of equal
amount which was made the first mortgage
on all the property of the road. In other
| words, these gentlemen contracted with
themselves TO pay themselves twice the
fair cost of entirely building and equipping
! the road; building the road with the
| proceeds of the money loaned them by
the Government, they proceeded to divide
| among themselves the other bonds equal
| to the amount which Congress had made a
mortgage on the entire road. BY these
means twenty or thirty millions of dollars
were divided among the parties. Now you
see these same gentlemen who engineered
through Congress this project of making
the road cost double what it should cost
and making half of that cost a private d.
vidend among themselves, these gentlemen
now anYnar hnfnro IfnuoDNaoo for e4i1 further