New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-03-21

se ~ 70 Tor one wear at least all exercise Of tho
authority the Government to enforce lie rights
section seems to provide that the act shall take effect
only upon IT'S acceptance Sy tne av me within four
months The effect Of that section therefore wouo pc
ali eesat.p upon this subject until the next session OF
Congress In regard to any railroad company tnas ,
agree to this BILL inquire II that was Tue 'h'en'o
Mr. MattewsThe intention Of the act in that respect
is precisely what The words OF the act Import rms Dill
contains proposition and offer from the Government
OF the United States addressed to these two companies
severaly II is offer which takes effect as contract
and binding obligation upon both companies and Gov
ernment when the companies shall m tne manner ,s
provisions long stands upon ITS terms as an I'M.
accepted Offer 1t binds no one pat acoeP,eu th
il relates back aud makes contract according 10 its
terms. Ar, ,.. . r,h;o
to IN substance the question ptoPS ;s 70 num-
over these railroads for twelve mOnthsf
MathewsheIe may be many exercises Uses Of ros aa
thorty the part OF the Government over ncse roaos
that t may have, entirely untouched by this Dill.
Mr. HoaI-In this respect, mean, ON tins point.
Mr. natthews-But far az the enforcement OF pro,
visions for the collection of money that is by TINS Di
applied payment OF the Indebtedness Of the com
panies the Government, the Government by the Dl
II it is passed into law, gives the COMPANIES ,onr
months time in which TO consider and either accept OK
reject and stands therefore, precisely as every other
between individual natural persons In respect W
an offer proposed rs the basis Of a contract.
Mr. ChristIancy-Allow me TO ask the Senator one
question Is II the intention OF this Dill That te ac
shall 20 oG Sgg b f on aG the G
already stated Mr. President that 1t becomes binding
only 10 the event OF acceptance g.
Mr. Thurman-f pass 10 they viii accept IT, you
need not be alarmed about that. 49,.
Mr.. Matthews-As to that the gentleman may be bet
ter informed speak by higher and direct author
ity than AIN able 10 do.
Mr.. Thurman-silnpy by the authority of common
Mr. Matthews-In that respect OF the Senator is
amply armed with authority TO speak. am not autilor
ized to speak on behalf of the companies do POI
represent them. I represent q committee OF the sen
relating TO the connection between the Government
and railroad corporations created or authorized to oper
ate their roads under it's authority
The bill does not embOdy the propositions which were
urged as the offer OF the companies mat OIer
Government to the corporations, which the committee
did not think were Just ana commentators; Dut IL
shall undertake TO prove II ought TO be based, Us al
legislation this subject between these parties nav
ing reference to this sulject-matter, ought TO DC
based on the consent of party without whose con-
IL my deliberate conviction that we have no
to INSIST upon exactons whichvolate the existing and
established contract between the parties: for an not
of who believe that this Government oilers
IRON the state Governments in being unresirained III
reference to its right TO violate its own contracts
believe il Is so sovereign body, it has 80 high AMI
supreme a power that il e1ectuay bud Itself so
that Itself cannot unoose itself II is the essence OF b
erty freedom OF sovereign power that the party III
winch ii resides while it is free from external Restraint
from power imposed alb extra from without neyerthe,
less by the function aud exercise W iDdependeh
and sovereign power, can bind ITSELF
TWO BILLS.
And now Mr. President, allow me briefly to point out
the essential differences between the bill Of the Railroad
Committee aud the bill Of the Judiciary Committee The
matter Just observed upon is perhaps, the most striking
and essential distinction The one proposes to alter
Contract by contract the other Is act II power, ard
nothing else. tether denies the existence Of contract
or ignores it admitting Is nevertheless asserts
higher power which can De egtnatey eXerJed for the
purpose OF holding one party to ms contract requiring
strict, literal full peroI nance ana add 10 ts
specification whatever. without accountability and
M. a iu.rg ia a settlement
Is complete and final and puts an END " controversy
and litigation. IL contemplatcs nothing further III tue
way legislation n cOntempiates no further necessity
for legislation, whereas the bill promoted by my disu-
guIshed colleague from the judiciary Committee, in
pursuance IL It's original idea Of being dependent on
not hing VIII of the Government. does not
even nIeend to be a full aud final settlement Its Ian
euare il most EXPRESS aud particular IN describing
udment To the Act OF lS02 and 10 the Act OF leoi
as the exercise that power and right of amendment,
and aa not excluding the idea of further amendment,
and continual aud perpetual control OF the Government
this whole subject at Its pleasure without na-
ton al law without limitation of contract without any
other limitation than the mere VIII Of the majority IN
Congress. SO that the original stpuations under whch
millions OF private capital have been invested in
works OF great importance are now sought to be
subject OF cxactIon exacted required TO be paid
without reiernce to the consent OF the parties
aud 10 he to succeeding Congress- 10 come III
and declare that not only the ACT Oi lSoZ ana the Act OF
1864 shall stand III the way OF any judgment aud
execution which Congress may III to render and ISSUE
against these corporations but that the Act or 1875 >a
not passed stand IN the way at all and that ;hey may
by subsequent legislation purdue The idea OF cOnscatOn
embodied the bill and declare that money which by
law is not due until 1880 aud 1900 may become
presently Que, 9nd require tht the whole corporate pro
perry shall be- delivered ny To new Judgment and new
execution. And gentlemen Who think that society Is
iouhhrd uy" IA" mat ude on us insliiuocls plVt ~
logical order not In point Of time that which
springs Naturally and necessarily out OF tue very Instinct
OF human Itself. argue ms though II rested not
upon those Instincts not upon The nature OF man. but Oh
the Will OF The minority.
Dir. Chstiancy-The instincts Of Human nature do not
apply To a majority.
Mr.. Matthows-No; man and human nature would
exist II there were but ore; Tor Inc "hoe OF human
nature is in every man what belongs to the individual
person and the rights which lie has, which belong TO
nm as slci EoNtruncH's ".le oiuilne. anu lt'!Iheu ~
protect and 10 preserve, not 10 deny and desiro, ana
assert that II the doctrine on which alone the proposed
bill 0 the Judiciary Committee can be Justified receives
the assent OF Congress and becomes law. Is the most
deliberate attack, my Judgment upon the very idea
and institutions OF property aud VI contract that know
OF in the annals Of legislation In this country.
The bill OF the Judiciary Committee then, MIR. Presi
dent, framed compose the strife between these
companies aud he Governments for II carefully reserves
pcnaIy power To frame and pass any additional legsa-
lion character Oi any other character thut
any future Congress may be inspired 10 adopt.
Another diIence between the bills is IN reference to
the Of interest AT owed upon the Accommodations Of
the sinking fund The hill oil the Railroad Committee
the judiciary Committee allows but per cent il need
not have allowed anything; but upon the theory thai
accept upon the theory that IN buslncss-kc way
addressing ourselves to the amicabo settlement of
important litigation, involving not only public
tercsts otherwise affected, but millions of money TO be-
due considers of the elements to be con
sidered In that connection that II for better
security we arc asking these companies To pay INTO our
hands semi4,nnually each 100000, 10 he held by
for the purpose OF being made ultimately To meet i'll
whole or In part 10 become due and not yet due
from those companies TO u.s. ana that II We propose 10
them that shall become III advance OF our legal
right, the cusodins OF their property for our benefit.
order that IN the meantime IL may be held free
from contingencies and casualties OF individual
responsibility probable soyency, We ought, l
say, 10 take into consideration element Ia
determine the reasOnabcness or the PROPOSE
ton that If these companies, pursuing this
same line of policy intent hcapiDS up security and
money against the day or pay do s0accord-
g to their own discretion aud make investments under
their own control they would be able safely and
themselves
that amount of interest which they required 10 pay
they would be able to accumulate 1t at compound inter-
est mt rate which Is in below the ordinary average
OF Inv, stments which they are able TO make.
lt Is said may be that injustice Is done TO the Gov
lV ppInp uhi ia nlIn