Marshall County Republican. (Plymouth, Ind.) 1856-1878, 1873-05-22

RNOIAO Nh OoO dS y
his real position, and proposed an amendment
for future action. After Mr.. Pruyn had con-
Guided, Mr.. Holman not yet being in his seat.
MIR. Washburne took the floor to address the
House in opposition to the bill. He said it was
his misfortune or fortune to differ with the
House in almost all questions of the character
of the one under consideration. When the
war was gong on, requiring the expenditure
of untold millions, he was opposed to con-
tracing any such liabilities as the bill pro-
posed. He said that the war absorbed SO
much attention that bad men took advantage
Of the situation to plumber the Government.
He went on to examine the bill section by sec
ton, showing up it's monstrous features and
comparing them with the original bill. He
showed the vast extent of the land grant, and
introduced a table showing the liabilities of
the Government.
sUBoRDINATIoN OF H GOVERNMENT LIEN.
The kernel of the bill was in the tenth sec
ton, subordinating the lien of the Government
to that OF the company. In regard to that
monstrous proposition Mr.. Washburne said:
lcome now to the tenth section of the bill.
and L confess to a sort of admiration of the
sublime audacity which parties must have to
come here and ask Congress to enact such a
provision into a law. l have called attention
to other provisions of an extraordinary nature,
but this proposed enactment throws all others
far into the shade, and stands out in bold re-
lief as an indication of the "base uses that
this company have conceived that Congress
may be put to in their behalf. I carefully read
the section that every gentleman may know its
exact meaning and purport:
SEC. 10. And be it further enacted, that section
five OF said act be so modified and amended that the
Union Pacific Railroad Company, the Central Pacific
Railroad Company, and any other company author
lied to participate in the construction of said road,
may issue their first mortgage bonds on their re-
spective railroad and telegraph lines to an amount
not exceeding the amount of the bonds of the United
States authorized to be issued to said railroad COM
panies respectively. And the lien of the United
States bonds shall be subordinate to that of the
authorized to be issued on their respective roads,
property and equipments. And said section is fur
Their amended by striking out the word "forty,n and
inserting in lieu thereof the words son each and
every section of not less than 20"
Now, it will be recollected that the fifth sec
ton of the existing law provides for the re-
payment of the bonds issued to the company.
and declares that the issue and delivery Of
them to the company shall ipsO fdcto constitute
a first mortgage on the whole line of road and
telegraph, together with the rolling stock.
Inns was the security which Congress had a
right to demand of any company that should
be organized. 1t was the duty of Congress to
require 1t, unless it was intended to surrender
up everything and place the most gigantic in
terests at the feet of the company without
control and without challenge. We gave, as
before stated, millions upon millions of acres
OF the public lands for this purpose; then We
agreed to give our bonds for the amount, with
the interest thereon. of S96, 00Q, 900, and if
Congress had required less than a first mort
gage as its security, it would, in my judgment,
have been derelict in duty to the country
whose interest in this regard it can alone pro-
tect. What is now proposed by this amend
ment? l demand that gentlemen shall look at
it; let the mirror be held up to it's nature.
Nothing less than that the Government with
its liability of a hundred millions, shall relin-
qulsh Its first mortgage and subordinate its
lien to the liens of all the companies created
for building the road. The bonds of the United
States are to be issued to the company, and
the Government is to have no prior lien for it's
security but by this provision the company
representing, as it may, but one per cent, or a
little over, of the amount that the Government
Is liable for, is to subordinate that Government
to Its own interests, raise money on the Sc
curity of the means that the Government has
furnished. give a first mortgage for the Sc
curity, and leave the United States as a second
mortgagee, obliged to pay off the first mort
gagee before 1t can be in a position to take ad-
vantage of any security there might by posi-
blllty be as a second mortgage. But who is
wild enough to believe that, should the pro-
visions of this section become a law, the re-
naming security of the Government will be
worth a straw? 1t is worse than idle to con-
tend that we shall have any security left for
all our liability if this bill shall pass. And
further, by the fifth section of the law bonds
cannot be issued till forty consecutive miles of
the road are fully completed and equipped. 1t
is now proposed by this tenth section to strike
ont forty and make it twenty. This company.
not content with snatching from the Govern
ment the security it now holds for the bonds
IL Issues, cannot even walt to finish the forty
miles of road at present required before grab
blng what is proposed to be put into their
hands, but they must cut it down so that they
can go in on twenty miles. Sir, on nv respon-
slblhty as a Representative, l pronounce this
as the most monstrous and fragrant attempt to
oyerreach the Government and the people that
can be found in all the legislative annals of
the country. When We look at the original
law, with all its liberal and Just provisions (:
when We look at the company organized under
it, and see how far it has failed to meet its
proper obligations, and consider the extraor-
binary amendments here proposed, are we not
filled with establishment at what is demanded
of us as the guardians of the peoples rights ?
Indeed, may we not exclaim:
-"Can such things be,
And overcome us like a summers cloud,
Without our special wonder?"
THE REPLIES TO MR.. w~AsHBURNE's EXPOSURES.
Mr.. Washburne having conciuded, Mr.. Price.
of Iowa. q member of the Special Committee.
obtained the floor in reply. Mr.. Price is the
father-in-law of Mr.. Dillon, the President of
the Credit Mobilier, and afterward a Govern
ment Director. Therefore, Iowa hadtwo Gov
eminent Directors, Wilson and Price, both in
the interest OF the Pacific road. Mr.. Price felt
called upon to attempt to answer some of the
objections advanced by Mr.. Washburne, and
said the Special Committee had spent six
months in getting up the amendments. He
said, according to the gentleman from Illinois,
the amendments were both weak and wicked.
He had overheard d conversation between
some members who said if the matters Mr..
Washburne charges were true, the bill ought
not to pass; and they said that by any gentle
man coming into the House and taking sound
for sense, and hearing the denunciations of
the gentleman from Illinois, the committee
might be thought guilty of a purpose to rob
the Treasury and overturn the Government.
MIR. Van Valkenberg interjected some remarks
into the speech of Mr.. Price in contradiction
OF some of Mr.. Washburne's statements.
After Mr.. Price had concluded, Mr.. Stevens
took the floor in reply to Mr.. Washburne.
HOW BY WHOM THE BILL WAS PASSED.
After Mr.. Stevens concluded his speech he
moved the previous question on his amend
ments, and Mr. Washburne gave notice to the
House that he would at the proper time move
to postpone the consideration of the bill till
the next session. Mr.. Holman said it was now
10 O'Clock, and he did not want to vote when
the House was so thin, and he moved an adj
j~ournment. Mr.. Holman said the House was
full enough, and that the matter might as well
be disposed IL of then as at any other time. The