The sun. [volume] (New York [N.Y.]) 1833-1916, 1878-03-13
THE PlCfrTC RAILROAD JOB.
Jay Gouid's Substitute for senator Thur
mans sinking Fund Biii.

WAsu1NGToN. March 12.-The arguments
of Senators Thurman and David Davis to-day
in support of the Pacific Railroad Funding bill
reported from the judiciary Committee were OF
course exceedingly able. They were also very
elaborate and covered every possible phase OF
the great question now before Congress. naine-
ly. whether the monster corporations which
have grown so strong as to impudentiy DEFY
their creator shall be compelled to make some
adequate return for the bounties showered up
on them There will OF course be at
tempts to answer the arguments OF Thur
man and Davis. but they can at best be
nothing moro than ingenious special pleas.
The more closely the bill reported from the
Pacific Railroad Committee is examined the
more apparcnt is the Job il is intended to sub
serve. The ing fund which is to be created.
If this bill should become law would be creat-
ed by the Government. with only trihing addi-
tions to be- made by the companies. The Gov
ernmcnt il required to release the five per cent
on the net earnings of the roads. and to pay full
price for all transportation over them. The
five Der cent on net earnings and the transpor-
tation account have averaged during several
years past more than 81 800 OO0 The companies
| are to pay 81. 900 900 year in semi annual in.
stalmcn,s TO the sinking fund. The Government
practically gives them 81 100000 year. and
| they will only have To- add slOOO0O TO this gift
to make up their s2O000O0 besides. the Gov
ornmcnt is required to pay compound interest
on the money the companies pay into the sink
! ing fund while the Government itself gets no
interest on the interest which 1t pays on the
s57 900 900 loaned the companies.
But this is not all. II tho bill framed by the
lobby attorneys Of jay Gould and Huntington
should become law. the lien Of the Govern
a.. - anfa nttp
will be materially changed. and yet the lobby
agents Of Gould and Huntington are saying that
this bill is not acceptable to them. This is moi
calculated TO make any impression on those
who know the true history OF the bill. MS well II:
| the report thereon made by the Committee OF
| Pacific Railroads. To my certain know"dge th'
| attorneys OF the railroads corrected both th'
| hill and the report after they had been submit
ted 10 the Senate and before they went 10 the
printer. Material alterations were made IL
which were made at the dictatiSn OF these re
taincrs of the corporations With all thes
facts known II would seem almost I'm I'm
could be found in the Senate who woul,
support this biz. ! haye reason 10 be-
por, than is generally expected. The power o
Gould is not adequately Appreciated The tw
Committee on Pacific Railroads can afford 4
pay one million dollars in cash to have II be
|
more ably directed lobby than has been seen, il
Washington during the past ten years. ia
Gould and Huntington head it; They hav
two Of the most adroit members OF Con
gress representing them, on the hoor Q
| the Senate and the House men vii
put through the Pacific Mail subsidy an
| covered their tracks so well that their name
were not mentioned in the invest cation of ls7s
| There are, of course. other lobbyists OF les
note like cx-Assistant Doorkeeper Boyd VIII
got $1,000 Of the Pacific Mail swng. and ex-As
sistant Executive Clerk OF the Senate Flag,
who resigned a good Office to become lobb
agent for Jay Gould. But another and NOR
valuable addition was made to-day TO Gould
manpulators in the person of Abe Van Nech
| ten, the king of the Albany lobby. He WI
brought here ~ Gould. Thetso ~rrae on IN
night train from New York last night. Va
Nechien is perhaps without rival ns "A lohb
man ipulator. His experience III Albany la
well fitted him for the peculiar work he Is eN
p.cicd 70 reform here. OF course. Abraham wi
| DENY that ne is here rs lobbyist for Gould.
will assert that he Is here on strictly legal bus
4 | ness. That was always his way az Albany. Butth
| will not deceive anybody. Everybody WI
| knows anything about Albany knows that whe
: | Abraham puts in an appearance business
meant. II is confidently asserted that Gou
. | mad to pay s2OO.uOO TO get his bill and rep0
| out Of the Senate Committee on Pacific Raj
| roads. II he can afford to pay s2oO,OOO for
| favorable report from "a committee OF thirtet
= Senators how much can lie afford to pay 4
), the passage Of his bill would advise imp
I cunious members of Congress TO begin ciphe
/ ing ON this simple sum in the rule OF three.