, 1874-12-22
TIE SCOTT AND COOKE SUBSIDIES,

We have already given our readers the de-
tai1s of AIr. ToM Sco7r's bill before Congress-
ashin. subsidy from the Nntional Treasury
to enable him to build the Texas il pacifo
Railroad and its branches. That bill pro-
viles tint Congress shall inilo1so tho bonds
Of the Company to the amount of $10S, ,GoO,-
600, and pay tho interest thereon at per
cont for forty years,-an aggregate Of inter-
est Of $2lG, 100000. Now we have tho JAY
CooKE Northern Pacific job. This Company
had a grant Of forty millions of acres Of land.
1t los built eco miles of railway, and issued
S;1S,o00,0 900 Of capital stock, S25,00o, ,O00 of
bonds, and has other deb!s Of $1,000, 600, or
q total debt Of $40, ,U0o,0 900. It failed year
ego to pnY interest on its bonds, and
now prefers modest request TINT Con-
gress shall givo it MD. Tho eid asked
il tint Congress sllo!l authorize the Company
to issue new bonds at the rate Of 100000 per
milo, for tho whole length Of tho ruad aud
branch, - 600 miles n,ain rond md 1000
miles branch; tota! bonds, S1o0, 900 900. On
those bonds the Government is askoti to quar-
rentee tlo payment Of the interest ut per
cont for forty years, making an aggregate Of
interest Of $;2to 600, 900 to bo pnil III gold by
the United States. It will bo remembered
that Jay CoonE & Go. guarantoed tic bonds
Of this Company; those bonds aro now worth
less, mud hayo boon bought up by spectators
at few cents oil tho dollar. Tho bill pro-
poses that tho old bonds be nj taken up by
the Government, end now bonds issued for
thcm,--a most admirable arrangement for the
speculators, but death to tho taxpayers.
Here, then, aro Ton Scorg aud Jay CooKE,
and thoir nssociato8 nnl confederates, asking
Congress to indorxe tho bonds Of their banls-
rupt railroad companies to MI aggregate Of
$22S, ,o0o, 900, aud to assume to pay tho in
terest thereon for forty years, amounting i'll
tho aggregate for interest to $500, 600 in
gold. During tho ten years sineo tho Civil
War tho people Of tho United states have
been inortinAtc]y tascd, that thu public debt
might DO reduced some $3.50, 900; aud
now, at tho end Of ten years Of relentless
taxation, these bankrupt, rotten corporations
como in mud insist that Congress shall add
S22s, 900, 600 to tllo public debt, and assume
the payment OF $500, 300, 900 Of interest on
their bonds!
T,tsupport of this joint scl.omo Of gigantic
public robbery the Democratic papers Of St,
Louis md OF ST. Paul nro both enlisted.
They urge upon tho Democratic pasty in
Congress antl ont Of it 10 support and mid this
wholesale uchenlo Of public robbery md con-
tiscation. They soom to think that there is
now a chance for Democrats to make friends
with Man,non, md to TO i'll aud layo their
full share il, tho division of tho Gpoils Of tho
plru,dcretl Treasury. Thus tho st. Louis Re-
publican champions tho Texas onl Of tho SUBJ
sitly, while tho st. Paul Ptanecr clnmora for
tho railroad through tho Northern wilderness.
Tho Democrats and carpet-baggers Of the
South are expected to support this schome.
In tho first race "thero'y millions in It, antl
in tho next place, having VOTED $500, ,oo0, ,o00
to TON scorr, JAY CoonE l. Co., Congress-
cannot we'll refuse to vote live or six hundred
other millions to tho lapocunioua people Of
the Southern States.
Though these subaidy schemes will find tho
bulk Of tl4cir support among tho Democrats,
tho Republicans III Congress cannot cscapo
the responsibility. They have two.thirla
majority in oaolt House, and havo absolute
control OF tho legislation. They control all
the Committees. No bill can pass without
| thoir consent Tho responsibility for the
passage Of these two gigantic 0ubsiatas In any
form must rost .nainly upon the Republican
party, mud, ulaloHs the majority In oongsesi