New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-04-06
xLyth CONGREss---ud SESSION


REGULAR REPORT OF PROCEEDINGS
MR.. THURMAN TRIES TO GET VOTE ON The
SINKING FUND BILL But IN vAIN-GENERAL
BUTLER AND g. s. cox HAVE A LIVELY BAT
TIE IN THE HOUSE.
SENATE. WASHINGTON. April g. 1873.
In the Senate, to-day, on motion OF Mr.. FEhkf
Rep Mich. the bill for he relief Of Thomas W. Collier
was taken up and passed.
Mr.. SARGENT (Rep.. CALI called up the Naval Appro-
pratlon Bill and explained the action OF the Senate com
mittee. All the amendments OF the committee were
agreed to. The bill was then passed.
The Chair laid before the Senate communication from
the Secretary of War transmitting letter from the
Quartermaser General relative to appropriations ior DIS
Office and from the Refprre %
prize money and bounty to eol0red SOLDIERS heielieu
to the Appropriations and Military Committees
THE-PACIRIc RAILROADS.
Mr.. BAYARD dem, Del) then addressed tne SENATE
on the Pacific Railroad Funding Bill. He said IN SUD-
stance:
In examining the proposition before the Senate t be-
came necessary examine all the circumstance nbur
which these corporations came into being In 1870 te
subject was carefully examined by committee OF tne
House, and report vas made whch snoweu s 20
stock issued build the road but az prOns 10
those who contracted TO build it, The Credit MoDier
records stain that can never De wiper Out oi we
Of American institutions The report SHOWS tha the sum
of 600 paid under the Hoxle the Ames anu
the Davis contracts. The profits these were 49,
o25 900. The cost, IN round NUMBERS SoVOOoVVV
ernment bonds leaving the stock and andgrant mort
cages ms profits TO those who built the road Inc GOV
on the report OF this Committee, which was unanimous
but took some steps for the recovery OF the money
by suits against Individuals which have been unsue-
cessfl The bill before the Senate has been Termed
violation OF the obligation OF contract Inele mas
never been a greater palpable mlsnomer OF O
II ls measure TO secure the imminent OF a
contract the roads ere g31g Un Vii he abe 70
do nothing except relinqnish ITS claim, or a is
road with hrsmOrtgage bonds the principal OF when
nta In m
The charter and the contract are cOnVerDle ters nc
charter is the contract aud the charter
This was view taken by the Supreme Court and thA
ingenious distinction made by Senator HUI ana MI Snel,
abarger cannot stand Congress has the right TO repeal
the charter The apparent indifference with when the
people OF this country see themselves saduea WIN
indifference with the excitement propositions 10
advance the salaries Of tue Chief Executive Judges
Cabinet officers and MEMBERS one can but feel amazed
There seems 10 be no popular comprehension, and, per-
haps bttle Congressional comprehension OF the ehotu
Of these amounts. The report o. committee Oh NC
senate states that one Of the agents OF the
Central Pacific Road lad been paid 10000 Tor or
the arduous duty OF spending the Mih C. III
Washington and Watching the interests OF the CenIrai
Pacific Road The speaker did not know what saaIiss
paid the officers OF these corporations Out &
they are propOrtiOnate. This money comes IRON tue
Government and every dollar represents the sweat anu
toll OF some OF its citizens II Is the duty Of tue Govern
to exercise its power over the sOads ana hothng
can Justify release Of that power.
Mr.. THURMAN (Dem., Ohio, said he would ask the
senate 10 sit the matter out oday.
Mr. EATON Dem. COMMIT hope the Senate VIII do
no such thing This question large to DO sat out
to-day ..,.
Mr. JOHNSTON Dem, ya.l, went into an examination ion
OF the financial relations between the ialrOads anu the
Government and the statement OF the account as pre-
is one Of peril TO the Government aud to the rail
roads, there danger that the road may come ihlo te
OF the Government would pe greater
evil than the loss OF tho whole debt; the
subject should be settled in way that VIII secure
The payment OF the debt and leave the companies IN
possession OF the roads although there s IN nt Opn-
ION fullest authority for tue passage OF me Judiciary
bill he favored annual payment VI o hAed sum III
| bonds of United states.
Mr. sARGENT rep, Cali said all sides were agreed
| that some provisions should he made Tor sinklhg
fund but he regarded the bill reported by the Judiciary
Committee az calculated TO give rise to unlimited tig-
arge as TO the definition If what should constitute neI
earnings how much the road might expend IN repairs
whether steel rails and expensive bridges were leglt
mate repairs, etc. Ii was not clear 10 DIS MIRO
that The bill was strictly legal ne q nssnoast
,Aa rigpt Qi the GOyeInme 20 VIoate cont sci
Nc vas sS NJ; ne s1 20 oaSss@s that money haa
cOntrasted the cost OF every article used M
construction Of the roads, even the water having 70
| al tue engineering difficulties, he said 10 was
| a wonder OF the world that the road was EYER
have undertaken the work Realizing this the Govern
Inent da NOT uuertSe y, nd ,oo much The Judiciary
Committee OF the Senate IN 1875 nau saio ~ n h,
made bad bargain, but there was nothing 10 10 put
TO abide by the bargain it had made -, g.,
| In reply to "A question by Mr.. Edmunds, Mr. Sargent
said ne did not believe the power to amend or repeal
wes nnde.stood by Congress the roads when the bill
passed. comforting right 10 declare the pineai OF
ntercs now due or that than per cent OF the net
earnings should be paid IN. on principle embraced
In the hill OF the Judiciary Committee, the Govern
s-p.sd s....ssI ~ tho pro
Visions OF "a contract for the construction or
| tue Texas Pacific Road. and he warned the
friends that road against the precedent they might
establish by tue passage Of this Dill Mr. Sargent sum;
| from the construction Of the roads.
Mr. CONKLING Gep, \. ~ said the Senator nom
OHIO Air. Thurmanl mad suggested that the oeiia'r
would nc requested to come TO vote to-day. lie iil
not thnk that the pressure for the passage OF the ~
great To require night session, as There
wero twenty years IN which 10 adjust this matter lie
suggested that understanding be had that vote be
| taken on Monday or Tuesday.
| Mr.. THURMAN Dem, OhiO) thought ample time for
debate had been afforded Why the bill nad stad SO
| long the Judiciary Committee was chapter OF his
tory he did to into but Il reflected no credit
| on who had imposed upon the committee.
After further discussion of the proposition, Mr..
Sargent resumed the door and expressed his readi-
| ness To 20 on.
Mr.. CONKLING (Rep ". " asked him TO give way
for dourn 10 Monday To test the wishes OF
| the Senate.
Mr.. THURMAN Dem, Ohio dcmended the yeas and
nays, which ordered and the vote resultedYeas,
81; nays, 81 as follows Republicans In Roman, Demo-
Gratis la italics Independents in SMALL CAPITALsl:
YEAS.