The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1876-01-01
THE PACIFIC RAILROAD OUTRAGE.

mIueu 10 uuuO tuC NOiS5cot "so"6
IN the recent decision OF the Supreme Cour'
of the United States in reference to the inter
est on the bonds lent by the government 10
the Union and Central Pacific railroad com
panies. BY the law of congress giving those
companies existence, II was stipulated tha'
after the completion OF the road. all It's earn
inps from carrying mails, or munitions OF
war, or any other service performed for the
Z. s, should be applied towards paying the
interest on those bonds. by the recent de-
cision of the Supreme Court OF the u 81
however, the companies are released IRON
paving this interest until the bonds fall due'
some twenty years hence, when principal
and interest will amount to $2OO,OOO,OOO, and
before which time, as there is first mortgage
ON the road that comes in before the mortgage
of the government, the road will OF course
have been sold under that mortgage, and thus
the government will have been swindled out
of clean $500, 100000, to say nothing OF some
$500 100000 in compound inters: by that
time.
The power of the government to remedy
the wrong involved IN this decision IS SAID TO
be unQues,ionable. The acts granting the
charters to the road expressly retained the
right Of altering, amending or repeating
them. The decision of the Supreme Court
was based solely on the unfortunate phrase
ology of single section Of the charters The
right of congress to amend that phraseology
and thus in effect reverse the decision Of the
court Attorney General Pierrepont Is said to
hold as unquestionable, and therefore equally
so its power to force the companies to pay
the interest on the bonds II the democratic
majority in congress desire to make one bold,
manly strike for popularity, as well as for
signal right and justice against one of the
most colossal swindles ever attempted in the
worlds history, let them lose no time to
throttle this Pacific Railroad monstrosty.
With law promptly passed by this congress
that shall secure not only the payment of the
interest on those Pacific Railroad bonds, but
ultimately the principal, so that the gigantic
steallngs of the Credit Mobiler and Pacific
Railroad rings shall fall back upon the
thieves themselves and their congeners and
successors, the democratic party can safely
commit its case to the people next summer,
as having accomplished more in the cause
of public honesty than was ever achieved by
any previous American congress,
The duty OF congress promptly to right this
great wrong is the more imperative from the
fact that the soundness of the decision itself,
is, to say the least, exceedingly questionable.
Insinuations even go to the extent OF impeach.
| ing the honesty of the court in the matter II
is notorious that shortly before the court an
nounced the decision, all the judges, includ
ing the clerk, dined with the principal coun
sci of the railroad companies in Washington
and that later, and still before the decision
was announced, several members OF the court
dined with Mr.. Sam Ward, the notorious lob
by manager of the railroad companies IN
Washington Taking these facts in connco-
uon with other facts, that the stock of the
Pacific companies had long been used as one
of Jay Goulds principal footballs, by load.
ing and unloading with which he had at va
rious times made great profits to the ruin of
the small fry of Wall street; and that not
long before the decision in question was an
nounced at Washington Gould, as if fully al.
vlsed of what was coming, had loaded him.
self enormously with the stock, and thus re-
allied quarter of a million on the rise
al. 81,
facts into the account, we say, and The case
certainly has painfully dark look tor the
court Itself.
But as above intimated, the soundness of
the decision is very seriously questioned, and
in way still further to reflect on the integri.
ty OF the court. The court decided the case
on purely technical grounds. 1t looked sole
ly at the letter of the law and the fact that at
the time when 1t passed the nation was in
peril and regarded the. building of this road
as grea Irrational necessity. But II ruled out
of the account entirely all the debates of con.
gress on the passage of the bill, which explain
Its language and show what that body meant
by the act and the Interpretation that should
be put on its words. These debates give the
key to its meaning, as was clearly shown by
Attorney General Pierrepont's able argument
That the court should decide case involving
$500 100000 by the mere doubtful words of
the law and cast out Of the account the real
feelings, purposes and ideas of the men who
framed it and which are its life, and thereby
traverse the spirit Of the law and every prin.
ciple of equity ana common sense is an &C.
currence so strangely in contrast with what
in It's whole previous history was naturally
expected Of the court, as to be at least most
extraordinary and unaccountable.
1t is a sad day for this nation when II can
no longer rely upon the integrity of its high.
est Judicial tribunal, but We wish we could
feel surer the day has not come. II is impos
sible to forget that at least some of The pres
tts.l. Al