New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-02-15
Mr.. BOOTHS RAILROAD SPEECH.
IT'S POWERFUL EFFECT On THE sENATE-HE OBJECTS
TO FURTHER PACIFIC RAILROAD BoUNTIEs.
TBY TELEGRAPH TO rRIBUNE.l

IT'S powEyFr1 EFFECT On THE sENATE-HE OBJECTS
TO FURTHER PACIFIC RAILROAD BoUNTIEs.
IBY TELEGRAPH TO TaE rRIBUSE.l
WASHINGTON. Feb. Ex-senator Booth, 1t
NAV he remembered elected his present position
mon an snti-Railroad and anti Monopoly platform.
To-day for the first time be made his voice heard in the
Senate in support of the principles which he has been
,upposed particularly TO represent That voice was
very powerful one The few speeches which Mr. Booth
has made always commanded attention His effort
today Notwithstanding the counter attraction OF the
arguments before the Electoral Commission kept the
majority the Senators in their places The speech was
more significant for its substance and the results which
followed il than for Its form
Mr. Booth began by saying that the little finger OF the
railroad lobbyist IN Washington was more influential
than the peoples oins, and he ended by securing the
adoption OF an amendment, originally introduced by MT
Boutwell, but withdrawn and renewed by Mr. BootD'
which will require the payment of additional s7jOOO0
wear in the very doubtful of the final passage OF
The bill Mr. Booth analysed the railroad bills which
have been under consideration with relentless ana I'M
friendly hand asserted that the Government is now
required to pay on behalf Of the Pacific railroads an
ayerase amount Of 81 100000 annually but this bill
would enable those companies to quidate their entire
indebtedness 10 Government in 36 years by the pay
ment on one hypothesis OF the total sum OF $6SO0oOO
and on the theory favorable 10 the Government OF
SIO9G7 $50 In short he asserted thst the Dill actuy
proposed make the roads an additional gt OF @oo
10000 besides the S74 OOO,0OO OF present huepIeu
ness now due and FIVE per cent OF the net earnings
annually required TO paid by the organic act ono
provision of the bill permits the Government OF the
United States ut end of thiryx years to take the
roads at their then present cash value. BY system
of calculation Mr. Booth arrives at the ooncu-
son that this is equivalent 70 allowing the COM
NAMES TO obtain 81 from the Government for IL cents,
a being the present value Of 81 to be paid at the
end of SO years He asserted and challenged contradc
ton of the all the branches OF the Central
Pacific Railroad including the 400 miles of the Southern
Pacific already constructed have been built out OF the
profits of the construction and operation of the Central
Pacific road while the Government has not been paid
This speech had very marked effect and as already
noticed secured the adoption OF the amendment adding
$3.50 TO the annual payments required by the Dill IN
addition 10 the accrued indebtedness and the fve per
cent OF the annual earnings The vote stood % Yeas to
90 Nays The railroad men now in Washington LOOKING
after The interests of these companies are goOd ue
disturbed by this action and by tue character OF ths
vote They supposed that they lad con-
siderable majority In favor OF the measure
In the form in which they desired TO have
il passed; and they greatly disappointed when
they found that they defeated by two votes In0se
who have gwen subject the most attention say that
the indications that unless TIE trens Oh tle
railroad companies induce one or two prominent anu
influential Senators 10 their rescue ana advocate
their cause their efforts to secure such LEGISLATION as
desire this session must prove unsuccessful
After the vote Booths amendment was taken an
Executive session was Immediately voted, SO that no
further action upon the railroad question occurred To-
AZ