Lexington weekly intelligencer. (Lexington, Mo.) 1871-1887, 1878-09-07
SPEECH OF HON. JAS. 0. BROADHEAD
At SedaIia, Missouri, August t31.

central committee of the state, and bv
the invitation OF a committee of the de
mccracy OF PcttlS county. to address YOU
on some OF the political questions which
agitate the public mind. | am here in
the interest Ot the democracy OF the state
AN humble worker in its cause harnessed
in the traces tor such service as Inav aid
IN harmony with the democracy of the
nation, III changing the administration
OF the government. and restoring the
country to its wOnted prosperity. 4
stranger from abroad who would look
over this fair land OF ours. and see how
Providence has rewarded the labors OF
the husbandman, how blest we are in all
the natural elements Of wealth, how all
the arts OF industry have attained the
highest degree Of perfection known t.
modern civilization, would be astomshed
to learn that all our industries were par
niyZed, and that there was almost uni
rersal want and actual suffering in this
land OF plenty. And get So it is That
this condition OF things exists and con-
tinues, is to be attributed beyond all
question mainly to the mal-administra-
ton OF public affairs by the party in
| power
We have large public debt. to the
payment of which the faith of the nation
Is pledged, and that together with our
state and county Indebtedness hangs like
an incubus upon the energies of the
people. and takes nearly all the surplus
earnings to pay the taxes which are i'm
posed To meet the interest upon the debt
| How the debt was created it is un-
Necessary for us to inquire now. except
that may say i'll regard to a large por-
ton OF the county and township udcbt-
cdncss. 1t was created during Governor
+ lctcher'S administration by county Of
tlclals who were not chosen bv the peo-
| pie; who did not represent the wishes of
the people, and who entered into com
bInatiomS with the officers of railroad
corporations TO deceive and swindle
them. Nobody knows better the history
OF these transactions than the people of
this section OF the state
But | speak now of our national in
debtcdness. Large as it is. 1t might
have been managed. and ought to have
been managed, without embarrassment :;
without deranginS the industries of the
country or expressing the people At
the close o! the FrancO-P Prussian war the
French nation was sadulcd with a debt
OF Sl.OVp,ODD, 900, all Of which thcy paid
OIL IN less than two years, beside debt
OF 200 .OuO,uuO OF francs, which had been
levied upon the city of Paris during the
progress OF hostIlltleS. and which the
French nation had assumed to pay. This
debt was paid in gold by 4 nation hav-
ing population less than our own by
many millions. This debt was over and
above what was necessary to carry on
the war.
Our national debt from the ST of March,
lS69, to the first of December. 1877. has
been decreased only in the sum of St79,-
431. 1914. In 1865 the whole debt was
S2,6l l.GS1. SOL. During 4 period of
nearly nine years the reduction amounts
to the sum of only $479. .437. 1874
At the very time that the French na-
ton paid OIL their Prussian indemnity
France was laboring under 4 national
public debt of fOverS4 900, 600 900 Beside
the proverbial economy and industry OF
the French people, there were two other
causes that enable them to pay of this
immense debt and yet be q prosperous
and contcnted people. One is that the
bonds OF the government were issued in
small amounts u low rs so. which ena-
b!ed ali classes otpcnple to take them as
4 safe investment for their surplus earn
ing; and the other that the public rev
enueS were honestly and faithfully APP
piled to the purpose tor which they were
! raised.
But how was it with our government
Anterior to and during the period OF
time alluded to whilst we were reducing
the principal ot the public debt at a rate
of less than So, 900 ,uuu per annum, our
country has been cursed with n weak
and corrupt administration OF public
affairs. which all must admit has been
n fruitful source of the evils under which
we suffer. | shall not undertake to emu
merate them all. but refer to some OF
them which may serve to indicate the
character OF the national administration
and the manner IN which the people
have been detrauded by untaithtul pub
lie servants.
Acts OF congress were passed tor the
construction OF Il great highway across
| the continent. with branches cOnyerrinr
to a common point on the one hundredth
meridian OF longitude, from which il
was 10 be carried to the Pacific ocean.
| These branches were intended to accom-
modate the west and the northwest. but
the interests ut the south were ignored
because the south had no voice in the
| councils OF the nation. The road was
considered at that time a military as well
as commercial necessity. 1t was look
cd upon rs Il great national work. the
completion OF which was as anXiouslv
| looked for as the COnsummatiOn OF the
hopes of those who had struggled for
long years to connect the waters of the
| Mississippi with the Pacific ocean by 4
| highway which would unite lis with our
brethren of the Pacific coast by ties OF
commercial interests. and over which the
wealth OF Asia might be poured into our
commercial martS by the shortest and
most direct route.
Large subsidies OF land and money
We're given by the general government
to the companies organized to construct
these roads. The government issued
its bonds to aid i'll their construction. to
the amount OF SOL, ,G23. .5l2. upon which
it has had to pay interest to the amount
of S2s s.ii},7j1. The companies also is
sued bonds upon the road secured by
mortgage. which. by the action OF the
government have been made pl ior liens
to the claims OF the government. The
NlCuit "puititl WIS SlDIIltU-l company
composed of certain officers and stock
holders OF the railroad company. certain
members OF congress and other officials
who took all the bonds and the lands
and IL majority of the stock OF the Union
Pacific railroad company, under contract
with that company. then under the con-
troll OF these same officers, to construct
the road ut an enormous cost, the CON
structlon to be paid for in these assets
and in the stock of the company The
result was that all these assets over and
above the actual cost of construction
went into the pockets OF those cOmpriS-
ing the Credit Mobiier. The road. of
course. never cost anything like the
amount of the construction contract
That they got favorable Legislation TOR
the road is not to be wondered at that
the lien of the government was subor-
dinated to that of the bonds of the COM
pany is not at all surprising.
1t is stated upon good authority that
the subsidies of money, bonds and lands. |
made to the Central Pacific r. r. by the
United States, the states of CaIitorni;, and
Nevada. and various counties anu cities |
in the state OF California have exceeded |
the sum OF 1925, 600. 900, and that there |
have been issued bonds, secured by |
mortgage on said road, to the amount of |
S21 100000 1t is estimated by persons |
competent to Judge that the whole of this |