The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1872-10-04


Of the essence is purchased legislation,
bribcd public servants, and several be-
trayals of the highest trusts. These are
| the elements.
Let me cndeavor TO illustrate her pre-
sent peril by simply re-counting TO you
undenicd and undenable facts, which
illustrate the history OF legislation by
Congress with reference to the Union
Pacific Railway. would fix your at
ltention on this as a sample OF the mean Is
whereby scheming, selfish, avaricious
men cohtrivc 10 giut their own greed,
while they talk of public interest and
public bencficence. Ten years ago Con-
gress passed an act chartcring the Union
| Pacific Railway. That act was intend
ed aud calculated to secure connection
by railway OF our Pacific with our At
lant;c States IA noble purpose, and one
which cal, not be too strongly commend
ed. As il was asccrlancd that private
capital would not build road through
two thousand miles of mountain and
, desert. Congress resolved to aid that en-
iterprise generously.
In the first place, the right of way
Through the public lands was granted.
with the right, also, 10 take material !
from any part Of The public domain !;
next. II large grant was made in aid OF
the Pacific Railroad and thirdly, bonds
OF the Government to the extent of over
5000 per mile were loaned to the
Company i'm aid OF this project, and the
first mortgage on the railroad taken.
Therefore it was thus provided that the
road should be built with public money
Ia, ia. Ia, 4 y,
Company.
Amer Il few years, this project havin z
passed into the hands OF capable, grasp p
ing men. sume OF whom were members
.; Congress. n new step was taken. The
Congress was induced to authorize Il
new loan in aid OF this project, and an
equal amount with the Government aid
that is to say, 10 the extent of at lea IS I
$25, ,OOO per mile and this new loan was
autIiorilcd to take precedence Of the
Goyernmcnt loan. in other words.
Congress relinquished our first mort :
gage on the railroad and took a second
mortgage. authorizing the Company to
+ make first mortgage of equal amount
ahead oil ours. Now, then, our sccurit y
was destroyed in this way, so that our
, investment was to be Of no avail.
In a lttIc while private Company Y
was somcw here chartered, entitled The
Credit Mobilier OF America;" snd that
. private Company. Or ring, was compo>-
ed OF Il lot OF active members Oi the
onion Pacific Railroad Company. some
OF ih..m members of Congress. No list
OF Stockholders of the Credit Mobii CT
was was ever published, or can lie OBJ
lained: but these gentlemen proceeded
10 make contracts virtually with them
selves. That is to say, the same gentle
iucn, officiating as officers OF tine Union
Pacific lsailroad, contracted with them.
selves as officers Of tie Credi. Mobiliei
OF America 10 construct the Union Pa
chic Railroad at enormous prices. which
absorbed both the bonds loaned by the
Government and the private loan OF ihC
company UI equal amount, which was
made Tie first mortgage on all pro pcrty
!, OF. lie road. In other words, these gen.
tlemen contracted with themselves tI
pay themselves twice the fair cost Of en-
tirely building and equipping tie road
and. building the road with the proceed.
of the money loaned by tho Govern
ment, they proceeded to divide anon 9
themselves the other bonds equal 10 tho
amount which Congress had made (;
mortgage OH the en,rc road. By these
means twenty or thirty millions of dol
lars were divided among the parties
and all that money so divided we ar,
called upon to pay. They divided tho
bonds, and built the road with the Gov
ernmcnt bonds, which were "A secona
mortgag Oh that Company.
Now YOU see these same gentlemen
WHO engineered through Congress this
project oi making the road cost doubt,
what it should Land making half ia,
!. cost Il private dividend among them
selves these gentlemen now appear be
: fore Congress for still further advan
tagc. The Congress had thus far rescrv
cd 10 the country such sums rs this rail
!. road earned by carrying the mail, an,
!. ihc provisions, ETC., OF lie army OF til,
!. United States. hut The Company sal,
: no: they said, We want you To rcscrv,
hall the money you earn. and pay owe
!, half the money 10 us. Consequently y
!, ia March, ls7l.by an amendment iastcn
ea upon IN army appropriation bill. Tia,
Secretary OF the Treasury vas instruct
ed 10 pay over to these companies hli
7 the money they earned 10y carrying tia
mails and armies, and only rcscrving hal
!. o those earnings toward The paymen
o tie interest semi-anIuaiy accruii
: on the bonds due by The tni!cd State,
: 30 that on this day the people Of thi
. country are paying some millions pc
annun out of their hard earnings for la
: tcre>t on ,besc bonds loaned 10 the pa
: ciiic Road paying this money rs into,
- ~ ,.ip At In - To- 1