New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1876-01-25

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| tho conssruoson Of said roads b, sAnd tn.
| same is hereby, repealed. @-- $780,
SEC. 2. Ttat from and after the passage
| Of this ace all oompen0ation for services
J rendered for the government of the United
States by the Pacific Railroad companies
shall be applied to the payment OF the
bonds issued to and the interest paid and
TO be paid for said companies until the
whole amount is fully Reimbursed to the
United States.
Mr.. Sargent-What reference ia proposed
to bs given to this bill!
Mr.. West-I suggested that it be referred
to the COmmis teo ON Railroads.
Mr.. Sargent-Unquestioaa that is .
very good committee, bu. by q resolution
adopted by the Senate the other day the
COMMITTEES on the Judiciary were required
to examine into this matter to ascertain If
the government had any rights left what
ever, and, if 50, what measures should be
adopted in order to secure those rights. The
subject Is one of very great Importance As
the Senator states, there are over hundred
millions Of money depending npon it: divi-
dends are being declared By the companies;
solutely deny their liability to pay even the
five per cent reserved, declaring that they
have made no net earnings, ana in every
way have placed themselves in defiant at
itude against the government, who is their
creditors; and, by the aid Of low and pros
tituted papers, if an attempt is made
by Senator or q member OF the House,
or q movement by an organized COMMITTEES,
to bring these parties to account, it is de-
nounced as simply the result OF 6lackmaii-
ing efforts. It seems to me, IN view OF this
condition of things, and the attitude of
these parties, and the vast interests Of the
government, and the fact that We should
use. 90 tar a. we know, all means to pro-
cure remedy of this condition Of things,
the Judiciary Committee ought t. have
charge Of this whole matter, and ought to
prosecute the investigation with the zeal
which chsracteriz8s them, and bring eOue
safety to the treasury of the United STATES
I therefore suggest to my friend that tae
bill should 90 where the resolution did, to
the Judiciary Committee. who have the
matter fully in charge.
Mr.. Wes.-1 can have no objection to that
reference. My only object in asking the
reference of the bill to the Committee on
Rsilro ads was that tho Senate might have
the advantage Of the experience of that
committee with reference to the subject,
and perhaps bring more enlarged informa-
ton before the Senate than Otherwise; but
equally well. which is to accomplish the
same idea suggested by the Senator from
California, should the bill be referred to the
Committee on the Judiciary. l therefore
move that it be printed and referred to the
Committee on the Judiciary.
The motion was agreed to.
Mr.. West-Mr President. in this connec-
ton desire also to introduce another bill
relating to these companies, aud shall be
excused, think, if l reply to the inquiry
of the Senator from Vermont MIR. MOrrilll
whether these proportions are intended IN
the interest of the Southern Pacific railroad.
They are intended in the interest of the
of the United States to protect
L against what think will be discovered
to be one Of the most gigantic
,pOliatiOns that ever WAS perpetrated upon
L. l ask leave to introduce 8 bill now for
he recovery from these companies of the
mount of $3,0O0,0O0 of bonds Of the United |
States, issued in violation Of the limitation |
prescribed by law that no amount in excess |
# So, 900. 900 should be granted TO them.
Pacific and to the Union Pacific Railroad !
Companies the sum Of fifty-three million |
hree hundred and odd Thousand dollars |
q bonds, when the act itself specifically |
provided that no more than SO, 900, 900 |
hould be given to them. In the meantime
he government of the United States has |
ot only given them those bonds to that ex-
ese, but it has been paying the interest
pom them since 1868, believe, which is
bout the average of the issue. and il il
'ound to pay that interest up to the period
+ 1890. Consequently. the government
as, by an erroneous construction of the
aw, first been deprived of -, 003O prln-
ipal, and is now paying interest on that
mount and will continue TO paw it until
rincipal and interest shall accumulate to
he amount of $4,000 900.
l believe, sir, that the case is perfectly
lear. and that the provisions of the bill will
ommend themselves to the good sense Of
he Senate. ask that the bill be read by
3 title; | had expected that it would be
eferred to the Committee on Railroads:
ut if it is desirable that it shall. take the
purse Of the other, be it so; but it Is a
different proposition. 1t Is for
,e recovery Of money and upon the con-
ructiOn O. a railroad Law. and l would
refer that it should go the Committee on
and therefore make that motion.
Mr.. Morrill,. of Vermont desire to say
the Senator from Louisiana that l am
ost decidedly in favor of the bill that he
Is introduced in relation to recovering
emit of the United st ates from the Union |
I'd Pacific Railroad Companies; but did
1t desire to be committed-as understood
ERE was to be q proposition introduced
IRE, and was not certain whether this was
or not-thAt any amount which might be
covered from these railroad companies
ould be devoted to q subsidy to another
ilrosi further south.
Mr.. West-"Suf6cient unto the day is the
ii thereof"
By unanimous consent leave was granted
introduce bill to recover from the Cen
al and Union Pacific Railroad Companies
'nds and coupons issued to them in excess
the limitation prescribed by law, which
as read twice by it's title, referred to the
on Railroads and ordered to be
inted.
In the House
Mr.. Levy introduced bill fixing the
nix and pay Of civil engineers in the navy.
Nj. Gibson introduced bill to authorize
assay Office to be conducted in the mint
New Orleans; bill to defray the ex-
nses Of the mint and assay Office at New
'leans, and making an appropriation
erefOr; joint resolution authorizing the
pointment Of commissioners to ascertain
what terms mutual beneficial treaty of