The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-05-06

the whole debt u maturity 1907 or this settlement
Ii not agreeable 70 Congress- IL willing consider any
proposition which may be made BY the COVER ~it
dspositlon 10 accept II It's ami It's other OBJ
legations will permit, have to express the hope that
In no caAe Will Congress- lend itself TO The passage OF
harsh. orcioie or hostile against the CON-
rsny. The government has only seconi mortgage.
Any blow ~ the company's credit Is an injury TO thu
government and diminishes its chances OF collecting
its dsUt, while whatever strengthens the company IN
creases the security and It's prospects or
ultimate reimbursement rnerc are also many other
reasons why the Should deal literally with
The company the governments aid 10 tho company,
assuming that lie loan OF bonds Will be eventually
PAD ~ only the lands, from which the company has
far realized only S. 1896 ga o. For this donation
Of Only s. 600 900 the government has secured tho
communicative from to ocean, over which Il has
control at AL times, but particularly IN time OF war,
for postal. military and other PURPOSES :.
The road required to be built by July l, 1875. IL
WAS actually opened Tor traffic moro thar six years IN
advance Of that date the last miles being surveyed
and constructed between May 1885, and May 1862 the
saving To the government on expense OF transpor
tson during those six alone being than tho
whole government donation has produced TO the CON-
pany 10 this date and the total cash saving during the
thirty year term Of the mortgage being certain 70 10
more than the amount Of the bonds loaned
This rapid construction OF the roHd during and after
tho war, while tho highest possible prices for labor
ana material prevailed, made the cost OF the road
treble what would now cost to construct H. and bur-
dcned the company with bond Indebtedness which II
VIII require all rs resources to pay the interest on and
to provide suitable sinking funds for while II Is pay
ing reasonable dividends to stockholders who have
purchased their stock in the open market and upon
the faith OF the government as pledged In the acts OF
1852 and 1864 upon contract and engagements
OF the United States preferred by these acts
capitalists to embark IN the hazardous undertaxing Of
constructing railroad to the Pacific, they have
been or may be by tho Supreme Court Of the
United States this company is willing To stand by or
II il willing to change them by coGsenting 10 mako
reasonable payments 10 the government upon its Soc
fixed
Believing that your committee win deem tho prop
oston of the company fair and reasonable, have tho
SIDNEY DILLON, President. I,
THE NAVAL APPROPRIATION BILL-RxDUCTIoNs
PROPOSED BY THE coMsnTTEE-cERTAIN NAVY
YARDS TO be PRACTICALLY CLOSED.
The subcommittee reported the Naval Appropriation
bill to the full Committee Appropriations to-day
Several unmportant changes wcrc made, some OF tho
items being cut down stl more and others ncreascd'
making IN the total amount In the bill Of
s270,00O Tho bill rs prepared appropriates about
$12 $780, COO The bill last appropriated SIT 900
and there also deficiency bill for about 81 700 900
for expenditures in the navy department. making to-
tai Of o00 or S. 200 900 more than the present
bill. The reductions in this bill general and
all branches Of tho except the pay Of officers
and scancn, which Is not touched. II provides for
stopping enlisments until the number OF seamcn Is
duced from $500 to 500 10 the navy, and in the
that the bulk Of all work the coming year shall be
done at tho navy yards at Brooklyn, League Island,
Norfolk and Mare Island ana practically closes work
at tho Kntcry, New London, Charlestown, Washington
and Pensacola navy yards and calls upon tho Secretary
OF the Navy to submit to Congress some plan for DIS
posing of the yards last named.
For labor at all of tho navy yards, magazines and
stations, in fitting ships for and in preserving
ordnance material, si25,oO is appropriated.
The Secretary OF tho Navy directed report at the
next session OF Congress the best method OF making
sales Of the naval hospitals at Annapolis and Washing
tom the DO closed during the coming year.
THE ORIGINAL DECLARATION OF INDEPENDENCE
AT THE cENTEXNIAL EXHIBITION.
Some time ago the President directed the Secretary
Of the Interior to send to Philadcphia the orgina
Declaration OF Independence to be exhibited at the
Centennial Exhibition. To-day, at the solicitation Of
General James D. Mcbride who arrived hero THU
morning for that purpose tho President changed the
order and directed that II be sent to Colonel Frank
Citing Philadelphia to be exhibited independence
Hall during the entire time OF the Exhibition. Mr.
c. C. Bell, Chief Clerk or tho Interior Department
will start morning the limited express
with the original document and General Mcbride lcf
here To- night to make arrangements with the city
authorities for ordering thu military for tho proper
reception Of the Declaration Of Independence on III
arrival in Philadelphia tomorrow afternoon.
THE MOTH ExrERMINAroR INVESTIGATION
MR. cowLRs TO APPEAR BEFORE THE COM
nTrEE.
George A. Cowles arrived here to-day from Califor
mia, AZ . voluntary witness before the Clymer Com
mites in the investigation regarding the preservation
OF army clothing and eQuipage by the firm Of g. A.
Cowlcs 4 Co Tho committee asked Mr.. Cowles e
postpone his evidence for week. He ~ DESTROYS Of
speedy hearing as he alleges no repel by over
whelmng evidence any and all charges affecting either
his personal honor or that Of his company.
THE ARRANGEMENTS FOR CARRYING THE MEM
BEERS or CONGRESS TO THE OPENING OF THz
CENTENNIAL EXHIBITION.
The Chairman OF tho Centennial Committee received
telegram to-day from Colonel Thomas A. Scott say
ing that be had Jailed to mako arrangements with the
Philadelphia, Wilmington and Baltimore Railroad CON-
pany TO send special train to convey members Of
Congress and other invited guests tho opening Of the
Centennial Exhibition. Colonel Scott, however,
added that he bad concluded arrangements
by which there will be two special trains
from tho Baltimore and Potomac station Tuesday
next the first 10 leave twelve O'Clock and the
n past three r. N. The will 60 by way Of
York and Lancaster q road owned through Its
entire length from Washington to Philadelphia by the
Pennsylvania Railroad Company. The route is only
an hour an hall longer than that by way OF Whining
tan