The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1877-01-12
The Pacific Railroad Bill.

WASHINGTON, January 11.-Thc Pacific
Railroad Committee, ut its session to-day, in
structed its chairman (Mr. Lamar, OF Mis-
siSSippi,j to report favorably the bill which
has been under consideration since last sc! :
sion, and this for granting Government aid
for the completion OF southern tranS-con-
tinental railroad. One OF the principal OBJ
stacles in the way OF the committee arriving
at a satisfactory conclusion rs to its report
was the rival claims of the Texas and Pa
cifc. represented by Colonel Scott, and the
Southern Pacific OF California, represented
bv Mr.. Huntington. These two interests,
however, having been compromised on fair
and equitable basis, and Mr.. Huntington,
in behalf of bis company, having fully ac-
ccpted the provisions and limitations OF the
Texas and Pacific bill as introduced last
session by Mr.. Atkins, OF Tennessee
namely, that this new Pacific railway should
ALWAYS remain an open highway, subject to
the control OF Congress-the committee have
at last reached favorable vote upon the
measure. The bill, as reported by Mr.. La
mar, provides for the construction Of main
line from Fort Worth, the present western
terminus Of the Texas and Pacific road, vlG
Ell Paso to San Diego, California; distance
OF one thousand two hundred and eighty
miles. The Government is to guarantee the
interest, not the principal, on the five per
cent. tifty-year gold bonds OF the main line
from Fort Worth and Fort Yuman, dis
lance of about 1850 miles. That portion
| OF the line living between Fort Worth and
point 100 miles west OF Ell Paso is to be
constructed by the Texas and Pacific Com
pany, and from that point to San Diego by
the Southern Pacific Railroad Company.
Phe branches provided for in the bill are
First, one from Shreveport or Marshall to
New Orleans; second, one from Jefferson,
Texas, to Memphis; third, from Shreveport
to Vicksburg; and fourth, one from We
nita. Indian Territory, to intersect with
the Texas and Pacific at some point east
OF the 1880 meridian, the Government
guaranteeing the interest, not the principal,
upon the bonds OF the companies con-
structing the main line at rate not
| to exceed $4,000 per mile, and upon
the branches at the rate OF 100000 per mile
| but bonds only to the amount OF the actual
cost of construction are to be issued, so, ii
the road can be built for $4,000 or S25, 0C0
Der mile bonds only to that amount are to
be issued. TO secure the Government fol
this guarantee the several companies are re-
uuired to execute first mortgage upon the
whole property OF the companies, and upon
their land grants from the United States
and the State Of Texas.
! In addition the Government is to retain
all dues for military and postal transporta-
ton and telegraph service, and to have a
lien on such part OF the savings OF the
company, and the entire proceeds OF the
sale OF their lands, as may be necessary to
provide for the prompt payment OF the cur.
rent interest on their bonded debt. The
bill contains stringent provisions prohibit
ing combinations with the existing Pacific
Railway companies, and requires perfect
reciprocity in traffic of connecting roads
now in existence and hereafter to be built,
thereby forever remaining an open high
way.
1t is positive that this measure shows un-
mistakabe strength in Congress from the be-
lief that the commencement Of work on this
great enterprise would revive the indus
tries Of the whole country, especially those
of the South. The superiority OF the route
is universally acknowledged, being shorter
from New York to the Pacific by nearly BOX
miles, and lying so far south as to escape
the snow-blockades, which is so ugly fea
ture OF winter traffic on the present Pacific
road; and that, with its branches to New
Orleans, Vicksburg, Memphis, and St.
Louis, it would place the whole country
within easy access to this southern trans.
| continental highway.