New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-06-01

be materially less than the interest contingency that
with tolerable certainty, and the earnings Of the
truth by ssccraninS tie quantity Of freight which the
Government would be likely send the road and the
lave provided that ~as
should pay It, debts to the other they accrued and
complicated arrangement by which each some extent
and to tss risks Extent IT. the tn.
The simplest form Of transaction would have
bills Whenever they we're presented and that the other
s refund S the Interest 50 soon &c II
assumed m toward and exacted from this Company The
snS that ns
said bonds at maturity With regard the interest the
suf mode 90 f az as @ Al
for services rendered for the Government
road completed, until said bonds and interest
earnings Of SAID Osd shah asc be Snnnay appeS Ss
payment thereof. II is fundamental principle Of law
PRESENT debt ' n%edsey ssnes But Il Il SSnSu
whether this can be into statute and i Is
Gs S ths time or specific mode Fl
declaration saying in effect that Il balance Of interest
remain after the application of these sources OF payment
and payable On the contrary the time and mode OF pay
en so far as they are expressly designated by the stat
rived from those two sources.
The Assistant Attorney General has argued that these
intended 10 be the exclusive whence
repayment of interest the bonds might be drawn but
ultimate payment Of the bonds, inasmuch as lands
were to be sold nv the Company on which the Govern
from those sources i was said should exceed the
erest the bonds the Government would put aside the
and would allow interest to the Company upon it. How
ever udcious and just such course might have been,
such construction TO the statute. In the first
place it. does .rt, not provide for sinking
known to the law and necessarily the creation Of express
e OK ON It, aSp
these two OF revenue with object that OF
In the second place. though lands be sold upon
which the Government held mortgage, still the amounts
The form of the security changed but the mortgage fol-
lowed the proceeds the security was transmitted, but
TO q completed railway the contemplation OF Congress,
might have increased the value.
TIE CHIEF POINT IN THE CASE.
Moreover and this chief point in case. the
statute makes distinction between principal and inter
est nor indicates in any way that the debt for the
shall mature different time than the debt for the
other Furthermore previous section OF .he statute
declares that for the amount Of said bonds together with
all interest between which shall have been paid by the
United States shall constitute mortgage upon the road
the present predcament Of the transaction, the Gov
eminent largely in advance for interest and there at
first appears tn be no consideration received which shond
bind to s SERIOUS 6s o f as lost
will be seen that q similar loss would fall upon
aS Ths to & a1
quired larger amount OF transportation and the net
two more than equaed the interest then the Company
would be paying off the principal Of It's ultimate ndeDt
would be paying its debt the bcndhoders and as the
Company mortgaged its road to the repay
tercst thereon which sha have been paid by the United
states, corresponding loss OF interest would likely
fall upon il. Now, when statutes have provided TWO
sources for tho payment not only of interest, but
OF great deal more-tha is 10 portion OF the prn-
sSn h0far
the judiciary to nterpoate 5y mere construction tmrd
ad ,e V Without Interest and had provided that the
remainder II of the transportation should D pald 10
tine oers %as that
b sus e IN Liable ss to S s Which ss Congress a
placed the reciprocal and intermingling rights and
CT lS od consider the Varying balances its
advances qudated present dept, subject to immaculate
Dat beyond ne s1nes 9 S preyse
IN the statute which decisive Of the legislative in
reserved dh' by only p%ay sn
that option is the important tel, right Of making
a. it plcase If it requires these services Company
cannot withhold them. II it refuses all empoyments.
stood the Government cond keep down this interest
without the expenditure of any ready money by simply
might push the advantage to an unlimited EXTENT even
carrying the eannES Of S,a the saa to the S aus sbs
quen statute which substituted half for the whole
& the Gans sa not Change
relations Of the parties, vary the construction ap
pcable the original statute IL was an alteration IN
degree and not in kind. and still kept the Company on
this matter Of service entirely subject TO the orders Of the
government In contemplation Of law the wrong and
injury of which the Government complains are entirely
of its own choosing CourtnOf law cannot be invoked W
aid persons when they themselves possess the means
of redress. II ordinary party were to come
into another court with such COMPLAINT nTiiI,t,
withheld this employment from the other contractor or
van have been enabled furnish to him. III the former
snppost'on is the fact the fault your own, and
YOU cannot ascrbc wrong to who you confess has al
WAYS been willing to repay you in the manner when
your pescribes II the latter is the fact then
because the Of payment which you provided dis
appoint you and because the pay ment III kind which you
elected TO take gives you more Oi the ST.
vice than you really require you arc trying 70 sht your
loss 10 other shoulders than your own Your misfortune
is really this that you made an mprovident bargain
The Judgment the Court is that the claimant recover
of the defendants the Of 512 So 90 ana mat the
counter claim OF the defendants be dismissed
ORIGIN OF THE CASE BEFORE THE COURT
OF CLAIMS.
AN OUTGROwTH OF THE CREDIT MOBILiER IN
yEsrIGATIoNs-TnE coMPANY's POSITION THE
LEGAL OMAN APPEAL LIKELY TO BE ARGUED