The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1878-03-15
THE RAILROAD BILL,

Mr.. Matthews explained the Dill re-
ported by the Committee on Railroads,
and said that the bill Of the Railroad
Committee did mot embody the proposi.
tions which had been urged by the rail.
road companies. II was based, as ali
Legislation. on this subject ought to be
based, on the consent oil the parties.
Without such consent 1t was his deliber'
ale conviction that Congress had no au.
thority Of Law, that the government had
no authority, to insist on matters the per-
fornance OF which will violate an exist
ing contract between the parties. he
argued that the government, by the exer.
else Of Its sovereign power, could so bind
itself that it could not unloose itselt.
Referring to the difference between the
bill Of the Committee on Railroads and
that Of the Judiciary Committee; he said
one proposed to alter a contract by a
contract and the other was an act OF
power and nothing else. 0ne was q set
Element which was complete and final,
and put an end to controversy and liti-
CATION. 1t contemplated nothing fur.
ther In the way OF legislation, as 1t
no further necessity for
leeislatiop, whereas the bill reported by
his distinruished colleague (Thurman)
from the Judiciary Committee did not
even pretend to be u full and final settle
ment. He (Matthews) believed II the
bill Of the Judiciary Committee should
become law 1t would the most deliber-
ate attack,on the rights Of property and
contract that be knew OF in the annals OF
legislation. The bill OF the Railroad
Committee allowed interest on the accu.
mutation Of the sinking fund at the rate
Of six per cent per annun, while that OF
the Judiciary Committee allowed Eve
per cent. II the companies should be al
lowed TO make Investments under their
own control towards the payment OF the
debt they you'd certainly make their
money earnsix per cent interest. He
argued that the bill OF the judiciary Com.
mittee, instead Of collecting \ sinking fund
for the sole and exclusive use OF the gov.
ernment OF the United States in order TO
extinguish the claim OF the United States
against these companies, it carefully
collected sinking fund, in respect to
which the United States would have no
lien whatever except subject to prior
lien Of the frst mortgage bondholders Of
the road. The amount OF money required
for the sinking innd must be paid by the
passengers and those doing business over
The roads. It was tax levied BY Con-
gress upon the commerce OF the country
transported over these roads. Suppose
the tax be Iias!s bardehsome, the odnpa.
nies must increase their charges. Would
that be good policy? Would Il be for
the good Of the public or the benefit OF
the government he then spoke OF the
legal questions involved, arguing that
the bill Of the Judiciary Committee was
an invasion OF the righis OF property and
contract. He quoted from many legal
authorities in support Of his views. The
bill Of the Judiciary Committee declared
what the net earnings OF railroads should
be; Congress had no more right to de.
clare what should be the net earnings
than II had TO condiscate them all.
Pending the discussion Mr.. Gordon, BY
request, introduced bill to authorize
the construction Of q Narrow.Gauge
Railroad from Bismarck to the Black
Hills. Refarred.
The Consular and Diplomatic Appro.
priation bill was then received from the
House OF Representatives, and referred
to the Committee on Appropriations.
The Vice President announced his Gig.
nature to the House bill for the relief oi
VIM. II. Hammond, late Surgeon General
OF the Army, and Il now goes 10 the
President for his signature.
Mr.. Christiancy took the floor 70 speak
on Monday on the sinking fund bill, and
the Senate then adjourned until that
10Y HOUSE.
Mr.. Handenbergh introduced q bill
regulating the reserve fund Of national
banks. The bill authorizes such banks
10 dispose Of their reserve fund and in'
vest the same in United States bonds
which bonds shall constitute the reserve
fund Of such associations. Referred.
Mr.. Durham, from the Committee OF
Expenditures Ia the Department OF Jus
tice, reported . bill limiting To s., 500 the
compensation Of Clerks Of District and
Circuit Courts when oue person hold.
both offices. Passed.
During the morning hour was discussed
a bill reported from the Committee on
Expenditures in the Department OF Jus
| tice limiting the number Of special attor.
news appointed TO assist District Attor-
neys 70 one, and limiting the fee ts
| S90f)0.
TSs bill finally passed and the House
went into Committee Of the Whole on thu
bill extending to three years the time tol
Withdrawing distilled liquors from bond
THE WHISKY TAX BnI.
Mr.. sayler stated the purpose Of tht
raanlntion. aaying that its principal OBJ