Seattle daily post-intelligencer. [volume] (Seattle, W.T. [Wash.]) 1881-1888, 1883-04-21

cuU01CeA10 Et9i tIl9 Ua1u itU0 go Oh
the rDounteasA am free 70 say, With
ell due reerVsz to my predecessors, that
il was not supposed at that time that
tbs. resolution Lad much practical bear
ing. IL VAS + sssed fx1ore for effect on
the pablo mrsd and effect IA Washing
ton. than With reference 90 ia imrnedi-
ate e-scuti0n. In f3c.. a. the time the
resolution vss passed. aud az no time
unisl las. fall, was sae management Of
the corporation IA o POSITION to pass
eeEa.t~i? npon tie merits Of tire vari-
oCs .oasss Over The So7Etaias that had
been propcssS.
Mr.. Thie,sec, VIC hu sesn n skSg4s
Of The engineering department. Of the
Sortasru Pacisr, Is here, and be will
c1c1rm what I s.y IN sitting th.: the
surveys end sssrchts fox practicable
rausss that have been eafried or for
many years -ere only brought to sue
c=ssfo conclusion late Las: fall, when il
was altogether TOO late 70 thiak Of CON-
menciug work. Then at No time, no
matter what may have bssn said in the
. spers, Ii matter what may have bsen
said By public men 70 tts contrary, she
work Of preparation, that 10. of sur
yeying and locating line, was net adj
vanced sufficiently sntil last October 20
begin work. Here you have ths simple
reason way she work has No: progressed
for some years On the Caac sds division,
that il, We wsrs u5t ready u begin it.
Even II We had been ready when l se-
csded t. the Presidency Of the North
err Pacific, the work would not have
been commenced, and here / will speak
to you very frankly. I consider il my
main duty, nct only TO the stock holders
of the Northern Pacific, Who hsd the
principal Will in the matter, but to the
people Of Oregon aud Washington, 70
complete the main line Of tbs Northern
Pacific first Of all, that is, to give shis
isolated coast communication direct BY
rail - thc rest Of the United States. I
believe this ia bs my Paramount duty,
and beiieve all of you viii agree w.sh
ne il was my paramount duty. Nov.
in looking as the problem before me At
that time thsre were over 400 miles Of
main line TO be completed in order 10
insure tho accomplishment Of this main
purpose, that Is, to finish tho transcon-
tinsntal msin line. I find that il was .
main question whether the financial re-
sources at the disposd Of the company
were sufficient 10 insure the completion
Of the main line. Under the act of Con-
gress charterin0 the Northern Pacific,
the oompaAy 10 authorized TO make .
first and only mortgage at 20 much .
mills. When I assumed the direction Of
Northern Pacific affairs, found that Of
the entire issue Of bonds that should
have ben made under the authorize
tion OF law only about $40 ,000, 900 had
bsen sold. leaving $aO.OD,00 more to
b sold.
Shortly after my return from the Pa
cific coast in 1881, as You all know,
attacks were commenced in Washington
upon our right To the land grant. These
attacks, while they have had no prao-
tical effect - far a. our claim TO the
land grant Was concerned. yet tended
to and did affect the credit Of the com.
pany in the money market. Moreover,
one Of tho conditions Of the charter ID
that we could only issue bonds against
the road in twenty-five mile sections in
spected, and aooepsed by tho President
Of the United States. Nov the Presi.
dent took the ground when these attacks
vere commenced that il would not do
for the executive branch Of the govern
ment 70 commit itself 10 any limo Of
policy that might b neGatived By the
legislative branch Of the government.
The result was that during the entire
long session Ut tho last Congress, which
WAS very long ono, a. you may remem-
Dor, lasting from Decsmber TO August,
VS. were not able to procure any means
at all. owing to the non inspection and
non-acceptance Of roads, NOT allowing
the delivery Of bonds to the syndicate
that had purchased Thorn. All this ia
past, and can now say that We were very
much embarrassed, and more than once
shsrs was danger that owing to tbs dis
credit into which our securities had
been brought b. the attacks upon the
land grant, and to the inability to get
money by the delivery Of bonds to the
syudioate In consequence Of the refusal
of tho President to have tho road ao-
cepted, there was mortal danger Of an
other failure, Of another COLLAPSE, and
absolute suspension Of the work of con-
struction ON tho main line. It would
have kept yOu back here from five to
ten years. Had there been another
brea kdown in the construction OF tho
Northern Pacific, there IL ne telling
when this great results which you have
al! been looking for would have been
consammsted. Now if We had douo
work NOT absolutely necessary at tbs
time, such a. beginning the coustruo-
ton OF the Cascade division, 10 vould
only have added 70 our financial embar-
rassrnent. And il WAS in view of these
complications that had arisen in Wash
ingson, that caused the difficulty exps-
risiioed il raising money to carry On
the work of construction. You may
understand what the difficulties were
when tell You that / hsd 70 provide
n0nth altar month from two % throe
million dollars Of money, In order 10
prevent . suspsosion Of the veIk that
hcsitated 70 increase cur embaHra0-
mont By undertaking any work involv.
ing pccuniafy outlay. creating uev eb-
legations and embarrassmenss. Bat
am nov happy b say thsse smbAsfa8.
nents are all past.
And here come to answer the second
question Of Judge Burke. I can an
uonncs with absolute positivensss that
the main line Of tho NoFttn.a Paa;ac
will be completed before the LIST ~ ~.
tonber NEXT. We hare only 49,, -
miles moro track 10 lay. We wore AS.
Saturday about 80 miles north Of Bose
man with track laying Ia the direction
Of Helena. We wers also last Saturday
four miles beyond the cre.HinQ or
Ctarke's Fork with track laying. Con-
tracts have been concluded which insure
the completion of track layinR on this
side, and Helena on the other Gids Of
ehe Rocky Mountains by the 10Th 81
June. The work Of the great Aullan
tonnsl viii b completed BY the 10Th Of
June accosdin0 20 contract. The Bose-
man tunnel ws could not complete, bus
We have carried . Temporary track over
IL, % there IL no difficulty in the vav.
expect 10 Wait the Paoids Coast aeain
either In August or the lrss Of Sep6em-
her. and thst ca tbs hrst through train
from Nov York 70 this part OF the North
Pacific cOaaA Since nv arrival hero
have instructed Mr.. Thielssn % pnsh
the work On the line connscsing Port
land With hslarna ~ much A. possibie.
| told him il must bs tioae By the mid.
die OF September. and he assures mo
that II will ~ done. bat whether tt
will be done OF not, think will can
trive 20 ride into Seattle il the IRA
wssk In Sspscmssr in ny pyivsts oar,
directly from New York, provided Mr.
Thsesson Auiahss the direct line eo,-
asc.inS Seattle with the Northern Pa
cias BY THAI time. Whether 4 shall rs-
deen NJ promise devends on hin n re
han On rnA ahaNf a Il sbY A>,~ A.