The Cairo daily bulletin. (Cairo, Ill.) 1870-1872, 1872-09-27

not what they are now. / complied, how.
ever, with the behesu Of my party when
the exponent of our principles, who 10 here
tonight was placsd In nomination. Since
that time my Judgment my heart and my
mind have become thoroughly impreg.
mated with the Lelief that we are engaged
in the great movement for the REDEEM tior
and benefit Of our country. The gentle
man who 10 here tonight syour candidate
He has commended himself in q large de-
gree to our support and our confidence b,
his public utterances, both in letter anc
speech. The speeches which he has beer
| delivering in his present tour will b,
among the fcw specimens Of political lit
erature preserved for the admiration d
future ages. do not hesitate to say IL
your presence, and before the whole coun
try, that for purity Of sentiment elevation
| of thought, integrity of purpose broad
philanthropy, lofty benevolence and ale.
waited statesmanship, the speeches that
Horace Greeley mas delivered on his pres
ent tour throgh the West have no equal,
no parallel in American history, in the
politics Of our country. CGreat applause.
II had never been for him before l
would be for him tonight. lCheers. His
election signifies peace and Citation
| signifies love among the sections where
hate has prevailed. 1t signifies purity in
every department of the government. l
stood forth once 10 oppose this movement,
but bowed to it when my party decided to
embrace It. Tonight l go further. To-
night embrace il with all my heart, with
ali my mind, with all my strength, as tend
ing to publication, tae redemption Of our
whole country, North and South, every
where. Loud applause This spectacle
is bright omen of success. propose TO
introduce to you, my fcllow-citizens, one
of the men who, by his own brain and
hands, has carved for himself 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 toll hA placed him
self in the front ranks Of mankind -Hor-
ace Greeley. Loud and prolonged cheer
ing.]
Mr.. Greeley, on beng introduced said
PEOPLE OF INDIANA: The distin-
gushed gentleman who has just addressed
you has pronounced the two watch words
Of the present canvass. The fret is rec
oncilistion, and the second is publication.
propose TO speak, tonight in the inter-
est of publication. Our country has re-
Gently encountered and vanquished the
the peril of disunion. She is ~. day con-
fronted With the deadly peril of corrup.
ton, the cancer which is eating her vitsls,
whereof the essence is purchased legisla-
ton. bribed public servants, and servile
betrayals Of the highest trust. These are
the elements. Let ME endeavor to illus
Il alto her present peril by simply recount.
ing to beyond denial and by undenistle,
facts, which illustrate the history Of leg
islation by congress with reference to the
Union Pacific railway. would fix your
attention on this AS sample Of the means
scheming,, selfish, svsricious,
men contrive to glut their own greed
while they talk OF public interest and pub
tic benehcence. Ten years ago congress
passed an act chartering the Union Pacific
railway. That act was intended and cal
culated to secure connection by railway of
our Pacific with our Atlantic States. A
noble purpose, and ono which canno, but
be strongly commeded, - it was. Certain
that private capital would not build
road through 1000 miles of mon,sin and
desert, congress resolved to aid that enter.
prise generously. In the frs, place the
right of way through the public lands was
granted, with the right also to take mate.
rial from any part Of the public domain.
Next, . large grant Was in aid Of the Pa
cifc railroad, and bonds of the govern
ment 10 the extent Of owe. $4,000 per
mile were loaned to the company in aid of
this project, and the first mortgage on the
railroad taken therefor. 1t was thus pro.
vided that the road should be built with
public money for the public.
After few years this project,
having passed into the hands of capable,
yrasplng men, some of whom were mem.
bers Of congress, a new step was taken.
Congress was induced to authorize Q new
oan in aid of this project and an equal
amount Of the government aid, that Is TO
the extent of at least S35, 600 per mile aud
this new loan was authorized 10 take pre-
cedence of the government loan. In
other words, congress relinquished our rst
mortgage on the road and took second
mortgage, authorizing the company to
make n first mortgage of equal amount
ahead of ours. Now, then, our security
WAS destroyed by this way, so that our in
vestment was to be VI no avail. In a lit
lie while q private company was some
W here chartered, entitled the Credit Mo.
bilier Of America, and that private COM
psny or ring was composed of lot of ac-
tive members Of the Union Pacific rail-
road company, some Of them members of
congress. No list of the stockholders of
this Credit Mobilier was ever published or
can be obtained. But these gentlemen
proceeded 10 make contracts virtually with |
itself. That is to say, the same gentlemen |
officiating MS officers of the Union Pacific |
contracted with themselves as officers of |
the Credit Mobilier of America to con-
struct the Union Pacific railroad at enor-
NOUS prices, VIII CHI absorbed both the
bonds loaned by the government and the
private loan OF the company. In other
words, these gentlemen contracted with
themselves to pay themselves twice the
fair cost OF entirely building and equip
ping the road, and after building the road
with the proceeds Of money loaned by the
government they proceeded to divide
among themselves the other bonds, equal
to the amount which congress had made
mortgage on the entire road. By these
means twenty or thirty millions of dollars
were divided among the parties, and after
all that money WAS so divided aud they
were called upon to pay, they divided the
bonds and built the road with the gov
eminent bonds, which were a second mort.
gage on that company. 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 the cost an appropriate
dividend among themselves, these gentle.
men now appear before congress for
additional advantage. Congress had