The sun. [volume] (New York [N.Y.]) 1833-1916, 1877-02-17
TIE UNFINISHED BUSINESS.
TIiE LIoUTDdTfON or THE pACIFIC
RAILROADS. INDEBTEDNESS.
Debate In the senate the Biii to Create -
Sinking Fund for that Purpose Views
OF Several Credit Nobiiicr Stntcsmcn

Donate In the senate on the Hill To Create
Sinking Fund for that Purpose Views
OF Several Credit Nubiiicr Statesmen.
WASHINGTON, Feb iG In the senate. Mr..
Logan Rcp.. lll) moved To take up the Senate
bill for ,hc issue OF silver coin, and to- make the
silver dollar legal tender. being the bill intro
durcd by him in August last.
Mr.. morrill, ORcp., VI opposed the motion on
account of the absence OF the Chairman Of the
Committee on Financc Mr. sherman and said
there had also been kind of understanding
that the bill should not hc considered until after
the report Of the Silver Commission should bc
ready.
Mr. Bogy ODcm.. MOI q member If the Silvor
Commission. said the report 81 that commission
had been completed. and would have been sub
m;;cd to the Senate had there not Teen n DIM
Guilty in having il printed. lie hoped it would
h' printed and submitted 10 the Senate in few
days.
After discussion, Mr.. Logan moved to make
the hill special order for Monday next, at /
/. VI. Agreed io without division.
The Senate concurred in the amendments Of
the House TO those OF the Senate ON The Consular
and Diplomatic Appropriation till. and it was
passed
Al the expiration Of the morning hour the
consideration Of unfinished business bcing
the bill 10 crcntc sinking fund for liruidation
II indcmnncss duo from the Pacific Railroad
Companies. was resumed. The p"udini. Uiius-
ton WAS ON the amendment offered toy Mr..
Boom tk'p., CAT 10 the second scot tofi uf the
bill reported nv tn" Committee on Ruil,oad4 so
~ in provide that the Central Pacific and Union
PACING roads snail rl 10 my into tho Treasury uf
the United SiDios ESQ 900 ucr annum in ognal
NtUi- annual miscellaneous until such sums shall
wan interest thereon. b.. sunic lent. when add Il
to other sums 10 the crc,et OF the sinking fund.
20 pay Oh and ext nsu.sh the Government
bonds at maturity advanced To said companies.
with siN per cont. inter ~ thereon from thcur
sums placed to the credit " the sinking fund
shall be- credited and added thereto scmi-an-
proviird. however. t6at Il the 7" i6ragoins ' prp
VISIONS shall prove lnsullc To rXtiniciish
the Government bonds and ntcrcs, thereon 1t
maturity, ~ Aforesaid. the s,mi-annual pay
mrnis shall he increased to such sum as viii be
sufficient for that purpose
Mr. Booth said his only object was to mike
the hi ct The Railroad Committee 50 cool that
IT.. present friends would not support It.
Mr. Blaine tltcp., Mel said he vas opposed to
the various provisions of the hill renott.d Iy
the Committee on Railroads. Tho fifth section
allowing The companies to anticipate thcir semi-
annual payments discounted at the rate Of six
per cent. hat the power Of infinite mischief in
It. lie was opposed To the provso in the third
section making II a consideration that the Gov
erumcnt should patronize the roads in the
the Government should be- left free to snle,, tLr
best aud cheapest means Of transportation. ON
the other hand. he did NO. mean To- say that he
could support the bill Of the judiciary Commit
could not do a greater injury 10 the United
states Treasury than 10 pass hin OF that char
arter rms bin meant the laws delay. the laws
uncertainty. ani uius Tar the law , uncertainty
had been certainty against The United STAT. =
in all conflicts between the Government and the
companies lie wis ia favor Of som" adjust
mcni which would be- Iust to the Government
and fair io the railroad companies. The nmond-
mcnt submitted yesterday NV the senator from
Iowa ,Mr. AllisOnl, IN the nature 81 a substitute
ne Thought. appeared Ia be- Just NJ II named no
So Ne sum g b. paid but stt that with The
secretary OF u" Treasury. n" hoped to re-
main in Congress long enough To 500 a session
20 hy. w.ihouta rallr bill in It; hut hc WIS
AFRAID ne would not lr gratiiri II su 'h % hill us
that reported 10y the Judiciary Committee should
Mr.. booih's Amendment was rcIccicd-ycas
"a nays. -, us follows:
VS. hle..rs An.hgny. i..'y. my. Roo,h Christian
,k ,s.."i u SKI, srS' h,ss Eels MsNas
ss'~@gv: .S'''"-'". wadiegh, hah'a. war n,A.,,
N.,s-Acssr. Allison; 9ua.sr Blaine, Boutwell, Brucs
hurn'i,c, Cameron Pah Clayton. conkiips. ,,rann.
,ithcock inga,i,, jta'nH, Io.e VA Mtg Loan
in i,nic. '"''
Mr. Booth then Withdrew his other amend
mcnt. giving 10 Congress power TO alter, amend
Mr. Christiancy Rep Mchl moved To
strike out the sixth and seventh sections of the
hlli reported by she Committee on Railroads
which provide thai The act shall bo construed ~
final settlement between The Government aiA
enmpani's II accepted by the companies within
tour months of the date Of It's passage and 50
rcpeals all acts and parts Of acts. In lieu of
these sections Mr. Chr.stlancy proposed To in
sert a section providing that Congress shall al
All times nave power TO alter and ailt nd ~ We'll
a. repeal the act.
Mr. Chqiree Eep., Coll submitted an amend
mcnt 10 thut ut Mr. Christiancy. 80 - to provide
that the act should bn construed ~ final settle
m"nt between tho Cos rnMent and tn" coml.i-
nics, ", within four months after lie pa-sHse. II
ne ,rceWed by the companies and proN ling
sad companies shall faithfully comply with all
the provisions OF the at, and shall not be- in de-
Idult Of any Of the insttllmrnis when due.
Mr. Dawes Rep, Mus sad he was in favor
81 an aml,n3le settlement with the Companies,
and would therefore support any hil Ia avoid
litigation. He was in favor of Congress rc-
serving the power 10 alter. amend or repeal The
nat; bat moi in the shape pronoS a hy me Snnn-
u sort u n double harrcllod arrangemD Mt.
Mr.. Ghrstancy said that all he wanted wac t.
10 pay their Indebtedness 10 the Government.
Mr. McMi Ian tliep., Mimi argued that Con-
grss had iuil power 10 lr-isatc ia IN matter.
Mr llnw ant twas not wise for Congr ~ "a
l"gslatn ms II nobody had any rights which the
Government oi the United States was bound To
Mr.. Booth tRcp.. Cqll, in replying to Mr..
Dawes, was Interrupted by the la;i r., who SAID
ihc Senator from California had not understood
Mr.. Booth rctorted that no man, since the
day OF Tqllcyrand, had sp understood tho art OF
say ng what lac did not mean and meaning what
h. ana not say as the senator irum Massae hu-
Mr.. Dawes said such a remark was indecent
an out Of place ia this body,
After further DISCUSSION Mr. Cha1ac's amond-
m,nt WIS agreed to-yrls 80, nays ~ The
amrndm' ~ Of Mr. Chr.stiancy. Us amended 10y
Mr. Clailce, was then agreed tO-yeas 50.
nays 10.
The question then REQUIRED on tho amend
mcnt OF Mr. Booth, submitted on Wednesday
last "a strike out the ilth section Of the hll re-
ported by the Railroad Committee which allows
the company 10 anticipate their scmi-annual
payments discounted at the ratc Of six per
cent, *, and il was agreed to without dlyis-
ion.
Mr.. Allison tIowal modified the amendment
submitted by HIM yesterday in IN" nature of
take effect upon lis acceptance by the railroad
companies within four months from It's pas
sage.
The Senate then went into executive session.
and when the doors were reopencd took % recess
until 10 A. VI. tomorrow.
MR.. TILDEy's HiNK .iCCOUTE