The sun. [volume] (New York [N.Y.]) 1833-1916, 1878-03-13
MOEETALkING THAN VOTING
arr sOME ar YHE rms 7iufLl. '"-
OhOJS. AND 10 THE POTNI

OHOJS, AND 10 THE POTNI
~, coN's Reply TO Mr.. Hewitt's Hcm"rh." on
u,yrs's title VIZ. Sohurz's 1inhrr fo''cs
ITO for the North Pole !-Pne'nc KALI
r,nd Bcbt.-Itaie on southern icrn"my'
WAsHtSGroS, March l2.-ln the Senate
a. Thurman Dem. Ohiol reported. with
COMMITMENTS. ,hc bill to prohibit members oi
r.,,,r.ss from becoming surctics on certain
topds. and Il WIS placed on the calendar. He
s,,l that II would probably incur no opposition
william \. wheeler laid before the Senate II
Communication from Carl Schurl nansw"r toa
s'ert resolution of the Senate relative TO tim
,.r dcnrc,Iations in the Territory of 1ntana.
Nr Matthews rep. Ohio said the commune
.s,ion was long and he therefore moved thGt 1t
h. referred to the Committee on Public Lands.
and be- printed In the Eecord
Mr. Sargent Rep. CALI objected to cucumber
inc the Record with such documents.
Mr. Matthews then demanded that the paper
bs road. lie -gd that. during u recent debate.
IN. course Of Carl Schurz In these timber cases
Ind been commented upon and his reply
should Nc printed in the RECORD.
Mr.. Sargent said tia, Schurzs timber policy.
~ corried out would ruin many industries in
several " stern States and Territories.
Mr. Matthew's said that h" desired 10 reply TO
,he senator. ana Woulu nuNc IN" cOinMunlch-
,ion read Ms q part Of his remarks.
Mr. Sargent made the point of order that the
Senator had not the right 20 do this. William
A Wheeler submitted it - the Senate and 1t
was oycrrulcd. Mr. Sargent then objected to the
further consideration OF the motion to refer the
communication TO the Committee on Pub
he Lands and under the rule II was
laid over until tomorrow,
Mr. Conkl ling Rep. y. " called up the Son
sts bin in aid Of tie Polar Expedition. and i
was pnssed unanimously without debate. III
authorizes John sherman 70 issue az Amerl'nn
register e. the vessel purchased NY James Cor;
DON Bennett under the name of Jennncite: and
also authorizes Il. b. Hayes to detail. with their
own consent. commissioned. warrant. und petty
officers of the navy. moi 10 exceed ten in num-
barto act mi 'eis of this vessel during h"ri first
yoyage 10 the Ar Tic seas provided thnt such
detail shall he made of such officers only "a can
be absent from their regular duties without
detriment to the public service.
Mr.. spencer Rep, MAJ called up the House
Mr.. Plumb rep. KAN spok. against Y.
Mr.. Conking said thur DR.. Hummond was a
citizen 81 New Nork distinguished for his tai
en,s anil his achievements in the Held Of SCI
ence. He had been spoken OF bitterly and un-
Justly; but time was oi more Importance than
anything he MIR. COnklingl could say. as the
friends Of the bill hoped TO get II vote upon it.
therefore he would not reply to the senator;
pr Hammond was tried by "A court of limited
and special jurisdiction in the din and chaos of
a great war. He was not convicted OF personal
turptude. OF vennlity OF treason 70 MS trust, or
The bill WAS passed-yeas. 3d. nay. lMr.
Pumb
Holiday TO the Court OF Claims was recommit-
ted 10 the COMMITTEES on Claims. with iustruc-
tons to report what amount If any. is equitaby
due the claimant.
Mr. Thurman Dem. Ohiol called up the bill
reported 10y the Judiciary Committee in regard
70 the Pacific Railroad sinking fund. and said
he would speak IN explanation of II. leaving tht
question as To- the power Of Congress e. plss
THIS eil t. another member 81 NJ comm v"r
The object II the bill was 20 Great" IN the Ir"as
ury OF thu United States sinking fund for the
purlosc ~ paying tnr d-tts Of u" Mon Pacih,
and Central Pacific Railroad Companies. The
BIZ rs originally Introduced included the Cen
tral branch of the Union Pacific road the SIOUX
cry and Pacific rond. and the Kansas Pc Ill
rond; hui these roads were stricken uu; of IN,
bill for reasons stated IN the report. TINS sink
ing fund WAS not for the benefit oi the Govern
ment alone although the Government was Ia
fully guarded the right OF every creditor. an,
made the sinking fund "A security for all debts %
Government had loaned the Union Pnciil
road IN bonds running thirty years. and bear
mum s27 2s65i2 The thirty wears interest e" 81
that amount would be s49Q25722. making.
total due the Goyern 1 at The maturing of tb'
ment did not rcceivr in the mean time any reim
hursement Of the interest paid, To the Contra
the amount of s27.s55.CS0. md the thirty yenr
interest on TINS amounted 70 ~; liVi
WIS WIS th @a dniS Of c6 51 to 6n TO-
out for something TO secure the Government
aSSinst loss dh hso Gomp%nfs nsmsrs al
lavish bounties ever bestowed upon any cor
poration by any Government had not provide
one dollar Tor sinking iund towari pay n
their Indebtedness; Instead Of providing 10
their own shareholders their enormous profits
The Union Paciii' Company Ind declared divl
bends OF eight per centun on the nominal Vau
Of It's stock-equal 10 Twelve pr cont. 81 Il
market value. and the Central Pacific had de
clared dividends OF from eight - ten per cent
on the nominal value Of the stock Tho othe
Union Pacific rond, sjl i97 .OOO. and Central Pm
cihc road. s55. 45I 900. The Committee propose
% define net earnings for the iuiur" only a. I
what Ind constituted them in IL" pust ihr ~
Ireme Court must determine Gne bill WIS ini
and Just and no iunn 'Oud deny That Il WAS III
erai. After providing l'r ;he SINKING iun
the Union Pacific Company could stu decinr
dividends oi "a per cent and the Central PA
c.nc dividends of 400 per r"nt.. on IA" nom
iunl value Of their stock. Their WIS not on
railroad in iify IN the United States payin
fuch dlyi6aTds. In less than twenty years irOl
sow these corporations Would be the rich 8
COrporhtione on the face Of the earth. IL migl
be asked, why then do you require n sinkin
iund Whydo you want SECURITY Experlcne
had shown that no matter how rich raroa
company might become. security must be give
for the payment OF It's debts.
Nr. Davis Ind. H. spoke OF the necessity {
making some provision for the payment OF III
indebtedness due from these Pacific raiirond
and argued that Congress had the right 10 pms
such u bill as the one proposed he rei"rrcd
the 18th section of the act of July ], 1852. cnal
terng the road. wherein Congress reserved III
right TO add to. alter amend, or repeal the ac
and said that the passage OF the pending hl
whs nothing beyond INC eXerelsr 81 Justly r.
served power He quoted al length from leg
authorities IN support Of the power OF Congre'
T. pass the bill, and argued that the public il
terst required It.
The Senate then went into Executive session