New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-01-25
THE PACIFIC RAILROAD DEBT.
THE QUESTION IN THE sENATE-TIE EDMUhDS
AMENDMENT AND ITS PROBABLE FATE-DIF-
FERENCES OF OPINION IN THE SENATE.
mn np Ipur TO III

THE QUESTION IN THE SENATE-THE EDMUhDS
AMENDMENT AND ITS PROBABLE FATE-DIF-
FERENCES OF OPINION IN THE SENATE.
IBY TELEGRAPH TO THE TRIBUSE.l
WASHINGTON, Jan. 24.-The men who look
out for the interests the Pacific Railroad in the Senate
would probably have agreed TO let the House amend
ment 10 the Legislative, Executive and Judicial Appro-
priaton bill repeating the ninth section OF the Army bill
Of 1871 pass without opposition, had not Mr.. Edmunds
offered further amendment for the purpose Of keeping
the money due the road FOR freight transportation etc.
in the treasury until the Of interest are paid
up, or a cours' OF competent jurisdiction decides
must be paid over The relations Of those roads to the
Government are far different what they in
the Spring of1s7l Then Secretary Boutwell, had decided
to withhold this money until the interest was paid and
Atorney General Alderman sustained him In that deci-
sion. IL Congress had not come 10 the relief OF the
roads the money must then have been promptly paid.
The great importance OF the the time may be seen
in the great fluctuations in the price of the stock OF the
Union Pacific Railroad. After Akermans decision the
shares which selling for than 80. went
down TO 9; and when II became probable that
the amendment ordering Secretary Boutwell, TO pay
over the money the Company would pass they went
I'D again TO their former value. But soon after
this act passed. Alderman resigned and it was gen.
orally believed In Washington at the time that while he
was hardly lawyer OF sufficient ability 70 I'LL so high
position he might still have remained in the Cabinet
had It not been the active eDmity Of the great rail-
roads OF the country against him. Mr.. Akerman's
successor and the present Attorney-General VIII
liams, is understood TO have always differed
with Secretary Boutwell, in regard TO this whole ques-
ton and IL should be- referred to the Department OF
Justice the decision which would be gwen would
probably OF the position taken by the roads
IRON this NplanatiOn 1t will Ike seen that, while In 1871
friends OF the road deemed IL OF vital Importance that
Congress should interfere and override Mr. Boutwell,,
they now look with indifference any action when VIII
result only in a bare repeal Mr.. Edmundss amendment
ordering the Secretary 10 withhold the money brings
the question backito where IL in 1871 and ~ VIII be
fought with all the power which the friends OF the rail-
road can bring TO bear. "
The debate to-day well that two years ago. and the
report Of the Senate judiciary Committee then made
shows that the best lawyers OF the Senate who look
upon the question legal point OF view, ana whose
Judgment influenced by sympathy for the roads OF
opinion. Trumbull who two years ago gave 10
the subject careful study agrees with MI stewart
that the only legal mode of procedure TO pay one
half the due for transportation ana freight III
cash. and then the Companies Tor their arrears Oh
interest; others hold the extreme views hed Dy inc
Companies themselves that the interest Is not que until
the OF the 80 years. when 10 must ne PAID the
principal present indications the debate IN the
Senate may continue several days, ana tne Edmunus
amendment will probably not be passed In the place
oft substitute directing the President OF secretary
of the Treasury. the Attorney 10 sue the
Companies for the interest claimed to be dae key "
be adopted.