The Somerset press. [volume] (Somerset, Ohio) 1873-1977, 1878-04-25
all that ia desired is attainsble without expense to

all that is desired is attainable without expense to
the people. |
VIEWS OF MEssRs LuTrRELL AND BLAIR
Both the act and its amendments required |
condition precedent that the work should be prose-
cuted simultaneously from the Eastern and western
termini By the act of 1872 there we're required to
line in Texas and not less than ITO miles in Calior-
mia by May 2 1878, whereas, in fact less than 200
miles Of the main line have been completed Westerly
from the Marshall terminus in Texas and not one
mile even foot, from San Diego Easterly. There
has been marked failure the part Of the company
franchises were granted This contingency of fail
was, by the caution of Congress, foreseen and
Upon f faiIue to SO complete it. Congress may
adopt such measures as it may deem necessary and
proper to secureits speedy completion"
would be great hardship to be compelled to wait
indefinitely upon a disabled company for a connect
Ing road from the M East and asks q 9h us the
tories to the Rio Grande and as much farther as
might be neces ary to meet the Texas roads within
six years. Such is the desire for an outlet to the
East, which shall admit it to participation in
through overland traffic that it offers that if its
quest be granted to construct line to San Diego
Harbor in addition to its present ocean terminl and
to prerate on through business with all Eastern
connections San Francisco other points a"d to
allow Congress impose the rate and fares on the
line between its Eastern and Western termini at
Pacific ports although asking no aid of the United
States which it Is not advantage for congress TO
power of the other company to offer. No good
and satisfactory is found why this PROPOSE
tion should not be promptly and cheerfully ac-
| eepted.
FROM BUSINESS STANDPOINT.
Two propositions are before looking to that end
One of them, the Texas and Pacific, seeks to retain
its land grant from the United States amounting to
49, 600, 600 acres to obtain two years, additional
time and special and extraordinary grant of the
credit of the nation in the form of endorsement
upon $685. 600 of the companys bonds, pledging it
to the payment of five per cent. gold interest for
| fifty years.
ton to continue its road Eastward across the terri
tories within the same time, but without any other
lands ow at the disposal Of Congress.
| Which of these two propositions as guardians OF
the public interest adopt? Which of these
two candidates, practical business ought we
to intrust with this undertaking. Weshould select
the proposition most favorable to the good of the
+ would seem that ny the ehaItef I the g
territories made double that of the pioneer line
by the fortyrst parallel if in lieu of future aid
| IN money credit.
Were administering our own private business
could we for a moment hesitate between these of
fers, one of which, besides being an undeserved
favor, involves grave responsibilities dangerous pre-
cedent and great risks, while the other avoids all
commitment all doubtful policy, and insures all its
profered benefits within the same time without the
risk of dollar of the peoples money credit? We
conceive not here as the almoners of the
bounty of the government to its citizens corpora
tions, but as guardians of the public welfare and
trustees of its property and credit of the nation
sworn to obey the constitution and protect the bes
interests of the people, and in this view we canno
in the report of the majority which proposes
togrant subsidy guaranty of S3S, $50 00J of the
peoples money or credit to CORPORATION.
ANTI SUBSIDY VIEWS OF MR.. MORRISON.
The Texas and Pacific Railroad Company seek tt
obtain the guarantee of the United States for th'
payment of the interest on s3s 600 of ffty-yea
five per cent bonds, to be issued by said railroad
company and used by it in building and extendin,
its railroad from Fort Worth, in Texas. to the Pa
cifc Ocean at San Diego in California The road to b
| ie mil length. the h0udS
issued amount to S2767s per mile; and the interes
guaranteed to be paid by the United States used a
bearing the same rate Of interest, would pay $780,
100000 of the public debt.
POWER OF CONGRESS DOUBTFUL.
Has Congress the power to authorize the covete'
guarantee? If it has, then power has been conferre
! upon Congress to make gifts of the public money
and public property to private corporations and IN
Constitution, or is it necessary to the execution
any power that it is granted?
The railroad, when built, will be the privat
property of the shareholders. 1t will be miliar
and post road in the same sense, and to the sam
extent and none other, that all other railroads c
Z the country over which the government may trans
port its mails, troops, or supplies for reasonabl
= = | compensation, are military and post roads. 1t
. . submitted that the power has not been conferre
in such an enterprise by subscription to its capita
stock; more, to authorize the construction of tn
road out of the resources of the people to be made
a gift to the railroad company.
- The attempt to derive such power, the power
s build and give away railroad from the power
. . Establish military and post roads, is, in th
o o opinion of the undersigned, attempt to prever
q the obvious purpose of a power intended fc
:, States are bound to provide for the general d.
y feAse, but it does not follow that they may col
struct or operate railroad for the exclusive bent
= fit of private corporation, because they ma
y ultimately and in some possible contingency wal
y u to use it for military purpose. any more tina
for The unte
= States have power to regulate foreign commer'
T. and commerce between the States, but it does n
. follow that they may indorse the notes of a shil
q couraging business. The undersigned is unable
u perceive any distinction in principle between the
and the demand of the projectors of this raj
~ road for loan of the government credit to the e.
y tent of many millions, with which to prosecu
or ANd GER OF SUBSIDIES.
a. The railroad company which asks for this enc
te nous appropriation of credit presents no clai
y upon the public which entities it to exemptie
y. TALLY private one and the company has alrea6
Sc received from the United States and the State
re Texas sufficient basis of credit to have built Il
10 road had its assets been prudently managed.
Ut The undersigned is not unnndful of the fact tn
at later period different rule of constructs
prevailed from that which in the earlier days
T. the Republic, and which is now here insisted upo
Undelegated power is necessarily unregulatt
II, never will be honestly administered.
of But it is submitted that this belief affords
sufficient justification for the guarantee and subsit
this enterprise is essentially of the Southern cha
at acter with which it is attempted to be stamped
of reason can be built upon that which may not
or urged with equal force as reason why the cover
lis ment should eq9alize between the lately eonten
ue ing sections all the losses resulting from "our
he fortunate civil disturbances"
a oa RECORD OF THE DEMOCRATIC PARTY.
es The statement of the majority that the Cover
ment Of the United States in view of the quantity
of lands given to 1t by Southern States has been
cd Just to the South in its bestowal of bountes
lieyed nd its refutatiOn the character of [
he men who before the war represented that sectio
They too sensitive to the rights of their
ch ten to be satied with less than what was rghtu
the Texas and Pacific Railroad Company acquir
the franchise and right of way by which it
h authorized to construct its railroad from Fl
" ~ Worth to Ell Paso in the State of Texas, whett
i i by grant from the State of Texas or by purch;
he from consolidation with the Memphis Ell Pa
e and Pacific Railroad Company, under the fourth
- | tion of the act of March 3, 1871, entitled, An
IA to incorporate the Texas Pacific Railroad Compar
and to aid in the construction of its road for otf
Js purposes"
sas as In the of Davis Gray, Is Wallace, ps
n 23', United States Supreme Court decided that
II | Memphis, El Paso and Pacific q surviving c.
p poration with all its property in possession, q
H all its faculties unmpaired. I his franchise a
,e right of way of the company proposes to mortgt
to indemnify the t hI 1oF Its gu
h ever acquired in either of the modes suggest
~ | or otherwise and whether it has been forfeited
nt | lost with the Texas land grant. The undersigr
+. | expresses opinion upon this question, VIII
~ was rot considered by the committee, but subn
,at that due regard for the interests of the COVE
ha | ment demands that before any guarantee is ms
M based in part on a mortgage of the said franch
" and right of the way, the House should be inform
and advised to the title to what is proposed to
mortgaged.
no,
ch The Markets.