The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1878-03-18

| dOLLIDA47S 4REGEPVlON Al HtNCHES.
| TER-yERDICT IN THE CASE OF A, DE-
FAULTING CITY TREAsURER-slx THOU
SAND CASES o f MEASLES IN LYONS,
FRANCE-COMMERCLAL CRISIS IN SPAIN
TACIT ACCEPTANCE OF THE LOSS OF
TEMPORAL. POWER BY THE POPE-THE
| EASTERN IMBRoGLIo, &C., &C.
Washington.
THE PACIFIC RAILROAD BOND QUESTION IN
Wolves NEARLY 5000, 1000, 000--A BILL TO
ABOLISH ALL PENSION AGENCIES SOLID
| DEMOCRATIC DELEGATION FROM SOUTH CAR
| oLINA-THE LOUISIANA Casa BILL TO BE
REPORTED TO PAY vIRGINIA's CLAIM FOR THE
| WAR OF 1S12--THE POLAR EXPEDITION
D1DN'TwANT GOLD DoLLARs-PERsoNAL, &c.
From Our Regular Correspondent
WASHINGTON, March 16, 1S7s.-The Pa
cific railroad bond question now before
the Senate involves nearly S200,O00,00
and will be discussed for many weeks.
Under the acts of '62 and '64 the Union and
Central Pacific Railroad Composites were
organized, and 30,OO0,0O0 acres Of public
lands were granted them by the Govern
ment. In addition to this the Government
guaranteed their bonds to the extent Of be-
tween sixty-fve and seventy million, there
by becoming responsible both for principal
and interest. The Supreme Court has de-
cided that the interest on these bonds Is not
to be paid back to the Government until
1900; but in the meanwhile the Govern
ment can retain one. half OF what is due by
: 10 10 from rtoti on
per cent. OF their net earnings. 1t is the
object of the bill reported by the Senate
Judiciary Committee to compel them to
create an ample sinking fund sufficient at
the maturity OF these bonds to liquidate
them principal and interest. Tie bill
reported by the Senate Railroad Com
mittee is, however, altogether in the
interest of the roads, rs it only provides
for fund for meeting the interest due.
and proposes that the time for paying the
principal shall be extended fifty years.
These railroads say that the Government
has not the power to enforce the provisions
OF the judiciary bill, and if it had it ought
not to exercise it. A southern senator said
to your correspondent tonight that when
all the operations connected with these
corporations are laid bare there will be an
exposure OF corruption, fraud, and robbery
that will astonish the people.
WHAT WESTERN SENATOR SAYS.
A distinguished western senator, when
questioned tonight Ill regard to this lmpor-
tant matter, said: The arguments in favor
of both bills have been so far presented
with great ability, yet the advocates OF each
seem to take extreme grounds-one con-
tending that the Government has power to
modify the contract contained in the char
ter as it pleases by reason Of its inherent au-
thority, and the other that it has no power
to alter the condition Of the charter even
though the right to do so was expressly re-
served. A large number OF senators be-
lieve that the truth and equity OF the case
lies between these eXtremes-that the Gov
eminent has the right under the reserved
power to see that the dividends are not de-
dared on fictitious stock or on false as
sumption of the cost Of construction; that
outside enterprises arc not undertaken and
carried on out of tie earnings OF the
road, and that the funds upon which the
Government has the right to rely for the
payment OF its interest and the ultimate
satisfaction OF the principal OF the bonds it
has guaranteed is neither divided among
stockholders nor in any other way diverted
from that purpose nor placed in Jeopardy.
1t is probable, he added, that bill will be
passed, securing the Government against
the. possibility of loss by reason OF such d.
version of the earnings OF the road.
TO ABOLISH PENSION AGENCIES.
On Tuesday Mr.. Smith, Of Pennsylva.
mia, chairman of the subcommittee which
has in charge the pension appropriations,
will submit bill which he has already pre-
pared for the abolition Of all pension agen-
-cies, and the payment Of pensions direct by
the Secretary OF the Treasury. The report
claims that eighteen agencies receive annu-
ally $3.50, 1000, and that the cost OF the pro-
posed system will not be over $4,000 a
wear. The Pension Bureau will be retained
for the adjudication Of cases.
The subcommittee on the South Caro-
lima cases of Tillman against Small and
Richardson against Raney will report in
favor Of sending them back to the people.
Small and Ralney are both colored Repub'
licans, and il the recommendation Of the
committee is concurred in South Carolina
will, before this session ends, have united
Democratic delegation.
Judge Leonard (Republican), who died
yesterday, was elected to Congress accord
ing to the Packard returns by a majority OF
4, $3.50, and by the Nichols returns by 1,4O7
majority. AS there are three parishes in
his district where the Republican buldo.
zng was notorious, it is conceded by Repub
licans here that Democrat will be elected
as his successor. This will make Louisiana
also solidly Democratic. The Massachu'
sets case OF Dean Us. Field will come uE
again Monday, and Democrats think it very
hard that Mr.. Dean is TO be beaten by some
of his own party, when the election Of
Field is only claimed by five majority, and
the evidence is that Dean had fifteen major
ity. An indignant Democrat said to-day il
Clarkson Potter's constituents sent him
here as a Democrat they are the victims oil
misplaced confidence.
THE TARIFF BILL.
The Ways and Means Committee has got
ten through with the rates of the bill, and