The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-05-22
THE 0RASPIN0LhY GOULD.
TIE Dpty Of Congress uessrdiss the Union
Pacific Raiireed.

To THE EDITOR OF Tue sUN-Sir: The
Judiciary Committee Of the House have nnallv
sgreed upon bill to secure the sums which will
be due 10 the Government from the Pacific rail-
roads toward the close OF the present century.
The Union Pacific Railroad, by its provisions,
is 20 pay $4,000 per snnum for the first ten
years and tl,000,0o0 per snnum thereafter into
the United States Treasury as q sinking fund
IL is also TO be credited with the sums earned
for Government trans portstion and with the Ave
per cent, OF its net earnings. When these sums
with interest shall equal the amounts advanced
by the Government the indebtedness will be
lIquida ted.
The other Pacific railroads are TO be bound by
similar conditions. This will probably result as
follows, supposine Jay Gould accepts the propo-
stion. The Government transport alton will
amount to about ti,0o00O0 per annum, and the
Ave per cent. OF the net earnings 10 about $780,
co., These sums, together with the tf50,oo0 to
nearly sg.0OO,OO0 per annum. At the end OF
twenty years there will have been about $4,000
900 actually paid into the United States Treasury.
The total amount due will be t77,0OO.O0o. There
VIII be a deficit at the maturity Of tho Govern
ment mortgages OF about t37, 00o0OO:
IL will doubtless be claimed that by the terms
OF the sinking fund project these figures are In
correct, because interest is to he computed
upon the emounts In tie Treasury SENT annual-
~. II must be remembered, however, that the
Government Is paying out more than tl.o0lOD
snnually, on account ~ INTEREST," and will he
obliged 60 DO so for period OF thirty yesrs. No
mention is made OF allowing snv compromising
me &c outlay which would ~ be guile az
upon It's PAYMENTS into sinking fund.
rhis money which the Gov fnment pays out
to smell out for the third Of ! century without
DERIVING any oeneqt from the expenditure. In
ordinary mercantile transactions II Ia usually the
borrower who IL Obliged to pay interest. In this
instance II appears that the lender Is "shaved"
10 put It squareiy, the United states Treasury
Will have actually paid out In cash. at the ma
turity Of its loan to the Union Pacific Railroad
1t will have received only s40Oo0,O0O; vet by
this compound interest scheme the latter
amount Will have been inflated so as to wipe out
the t0Ooo,coo, and large part OF the mortgage
II makes little difference what the decision OF
coated Arguments the Union Pacinc lobbyists in
psss s ssds % ps the he e 5S e.
seiss sum Smaller ~ twenty @iiOns Of dollars
THIS twenty million dollar plan will be wrune
from the labor OF the people and go TO enrich
IL is a matter Of comment In certain wall
street circles that Gould Is at present working
jealousy ,S t9 get the .n better ter 81 the %
Were the Union Pacific Rsilroad managed In
ford to be more lenient in settlement OF vexed
questions. Gould and his partners have, how
ests except their own. knowing that people
must either go to California by the Union Paci-
nc. or walk; he has turned on the menopoly
carr. the accommodations are OF the meaDest
character: The trains are run at snsil IKE
pace and without SUI icient regularity. The fare
is msintlined at the most outrageous figures,
three times as high as the average rates on trunk
ate. Questionable devices are employed to
entice people OF small means out on the line OF
,stion, or from attsess sy indians, n their vain
searching for gold. The railroad company en-
cages In all KINDS OF projects outside Of those
for which IL obtained It's charter from the Gov.
eminent; wnere ON opportunity exists for a
store toldo "a paying business anywhere along
competition is allowed on the pan VI private In
diyiduals. As the land 10 owned by the Union
Pacific, Il Ia Impossible to obtain suitable Ioca-
ton Tor business except with it's concurrence
even suppOsine that the building and land were
secured, the railroad corporation would speedily
run out any unfortunate merchant by discrim-
nation In his freight rates.
In mining tue coal too, the company preserves
amonopoly by opening up nelds Itself and SELL
ing coal anywhere ut points along Its line for less
than IL can be mined and transported by private
at such asures thar no one can deSiye apv ad.
vantage from the proximity OF the railroad to
his property; The entire concern is like giesn-
enough to suck out the blood OF everything and
everybody coming in it's way.
Every thing is being done by this Union Pacific
Rug to perpetuate Itself In control west Of the
Mississippi river, and to kill every project likely
Sais outside Of thu Railroad CIRCLE. The Enc Rail
way was run by Gould and Fisk on high moral
basis compared with he MANAGEMENT OF the
Union Pacific. The ouraens which are posed
upon tue business OF the country by this cor
rupt combination, are 50 great that petitions are
being forwarded IRON all parts OF the United
States to Congress asking for relief.
Now while a bill has been agreed upon by The
Judiciary Committee which will partly secure
the Government against loss, II II is accepted by
the company, and becomes a law, there Is an.
other point Of equally as great i'm portanoe which
should be looked after al once.
II IL to regulate the rates which the Union
Pacific Railroad may charge for passeng and
freight, and thus put an end to the unparallel-,
public.
IL has been dem onstrated that trunk lines OF
railroads can make money largely b. carrying
pssseneers, nrst class, a rate Of two and half
charges two cents per mile, and pays eight per
cent. dividends upon Its stock. Three cents per
Union MI Pacinc. and a penalty should be eIscted
for any charge by the road above this rate.
sulta,ion with the prominent railroad men OF
the country. and proper penalties exacted for
any violation OF tho prices established or dis
cr ,i Ia favor OF parties In connivance
The railroad oficials should be made to I'M
carry out the designs Of the projectors and the
people than exoroitant charges and small
business The only way In which the Western
country can be settled. and particularly the
sterile wastes which extend along large por-
tion Of the line of the Union Pacific. Is by faci-
itating communications aud making the coun-
try easy OF access. The development OF mines,
the building Of blast furnaces and rolling mills,
and agricultural pursuits are all checked by the
policy which Gould pursues in the manag enent
OF the Union Pacific Railroad.
Jay Gould and Sidney Dillon are fine speci-
mems TO be In charge Of the national toll gate.
Unless Congress- regulates the freight and pas
senger tariffs at the same time that terms are
made for the repayment of the moneys ad-
vanced to the road. IL IL more than likely that
Gould VIII put up rates again as he did last year
immediately after the close OF the session.
He would do this to revenge himself for the
action OF Congress and TO make up the amount
which would be taken out of his eight per cent.
dividend. lie would do this because he Is stink
Ing a very large sum of money weekly In the
Netr York Tribune, which, under the feminine
management Of his stool pigeon, has lost infiu-
f,ence and circulation. ana is nearly bankrupt.
He would DO this because he has more than
aO,OU0 shares OF Union Pacific stock to sell,
which he cannot dispose Of AZ half the price at
which IL IL now selling.
IL Congress adtourns without fixing tariff
for passengers and freight on the Union Pacific
Railroad, Il will leave the travelling and bust
ness public in as precarious . condition a. II
Dick Turpin or Jack She pr ard were left in
charge OF the great national tanscontineDta al
highway. sTIRABoUT.
Tho New York Fcnians.
from ne HarUord Times.
The recent suicide OF poor Mulleda opens
the way for a word or Two op the Fenian wreck.