New-York tribune., 1874-12-14

yearly payment the sinking funf o1ual TO per
cont Of the entire issue Of guaranteed bonds
SsxtA: That any holder Of the outs.andIng 20 nrst
q sis % hs
i've per cent guaranteed bonds bearing interest from
Of this il to place in the United states
al. OF the Companys frat mortgage bonds, and thus
on ali the Companys properly and rights OF property
and that without working any injury TO the Companys
SersnM: Tnat Congress. may nx and determine fares.
s3s aud CHARGES on the Northern Pacific R.irosd pr
defeat the security sought be given by this act.
LAND GRANT NEUTRALITY-SUSPICIOUS. PROHIBITED
ROAD BUILT WITH PRIVATE MEANS.
The foregoing synopsis tho bill is sufficiently clear.
but three leading points In the proposed legislation
deserve to DO given special prominence. Tney are
these:
l. Instead Of being continuation Of the much crit!-
csed landgrant policy. the pending measure virtually
back to the people the largest aud best grant
s ny ~ TO SS as
agricultural portions to be sold TO settlers at 81 80 an
l,mis. while the laads thus Tar sold BY tne Company
have brought an average OF Is 80 per acre.
T. The bf instead OF aiding TO continue the existing
monopoly OF transc0ntinenta traffic with unchecked
control OF charges thereon, renders monopoly and ex
Orbancs Of through tariff rates forever impossible
any aud ali roads, by reserving to Con-
the right x and regulate oil fares aud tolls over
the Northern Pacific Railroad. Here is an opportunity
Tor esitnateiy snDictng the through Transportation
business across tue American continent 10 tue perm-
t%rean opperaniy wsicn the hardly has
the right to ncglect
As to the guarantee and the security Of
fered In refurn the bill provides IN enect: That the
Company shall nish and equip the road across the con-
tinent with private means TDis, under It's charter, will
make the Company the owner OF through trunk rail-
road and $4,000 600 acres OF land adjoining the
track That the Company snail give the Government
par passu with the construction OF the road, first
mortgage its entire property present ana prospect
the sales and traffic earnings. and
IN addition deposit fund OF $4,000 per mile IN the
United States Ireasuryall security for Govern:
ent guarantee Of hye per cent interest for term Oh
years tie reasonable cost OF the road the principal
cutting Government work asks the encouragement, or
the Government but not dollar of Its money The bill
sion to Government compatible with continued
stence and the accoInp sbment Of the work IN hand
Ii its interest be further improved In the Interests
the people. consistently with fair dealing and EN-
cicucy, let this b, done.
TILE REVIVAL OF INDUSTRY.
Viewed simply as u business transaction. ono can
doubt that the security offered guards the Government
absolutely against possibility Of loss under the
guarantee and makes reasonably that the Treas
ury will never be called on even temporarily to meet
single guaranteed Add TO this the fact already
referred to. tntt tue Government VIII make direct
and definite pecunary saving by the completion OF the
road quite eqiai annually 10 the annual amount OF the
guardntees Add to TINS tho many aad great benefits
commercial. political, aud miitary-lamed in tue fore
going statement, which are sure TO accrue 10 Govern
ment and people, bat which cannot in all cases be
measured IA dollars aud cents anu the reasons IN favor
OF the pending appear to us II not rresistlDe,
at least such that they ought not to De resisted.
Bat a al and, IL seems to perfectly con-
elusive reason way the proposed measure should he
pas ,ed and passed prOnpylhe fact, namely that In
utuer ~ay the III lis organic capacity
egIgi,nateiy speedily, ami cheaply help Itself out
the prevailing business stagnatIOn aud depression.
Ii, nrniy Oshcve, tue PROSTATE industries and
prIyzed confidence OF the country eau thus be
started tho pain 10 improvement ana heatllf tle
uumDerless Idle mills and mines cal thus De enabled 10
Resume and OF thousands 0i unemp0yed anu sui
ferng thus De FURNISHED vita WORK and wages even
tWsyemDn earlier than would otherNl De The case,
then tue argunc would seem 10 be closed Not only
arc ana tho manufacturer. the tradeSnan
aud tuU LlUu.CI, piOHdcCf duI lDc ODiru
aud deeply Interested sUcn measure OF fcitI, buS
Government Se by the increased revenues result
ing from Increased activity and prosperity,
VIA, Da cIcI DcueiClaIy VI tie proposed legislation.
Ia behalf of gIeat amd vital interests Involved
aad VITA measure would 90 further
toward nduciDg tc abundant aud Idle capital oI The
country employ the aDuudant ami ldlo labOr thus
breathing Cne Jf lie every branch OF Dusl.
ness We ped6 tie pehding legislation tue candid
ana consideration wnch we believe tdeHerVes
BENJAMIN L. WADE.
b. r. POTTS.
Dee. 0, 1874. Governor oi Montana territory