The Daily times. [volume] (Richmond, Va.) 1886-1889, 1888-05-06


a monopoly, and that our only com
pcttors would be the OK teams and
the steamers. We organized our company
with capital of $4,000, GEO under the law
of the state of California. and then got
the lepislqture Of Nevada 10 allow us TO
build across its desert. This was before
congress had anything to do with it, and
the first Pacific railroad act was passed in
1862. The first work we did on the road
was at Sacramento, on the Sth OF Janu-
arv. 1863. and we completed it in 1869.
We received. all told, just S2IOOO,O0O
from the government in bonds, and there
is no truth in these statements as TO our
rctting $lO0. 00O. 600 and more out of the
treasury. The $4,000. 600 in bonds we
had TO sell. so that we got only S2O,OOO,-
600 for them. and the road all told, cost
about SfI 600 O00 We were allowed TO
issue $4,000. 600 in bonds ourselves, and
how il was possible for MS to get 500
)OO. 900 ont of the $40 600 600 W. received
is a problem for mathcmaticians
And Just here want to say that it is
impossible to estimate the money the
United States has saved by this railroad.
Il has never paid MS a high rates for
carrying Tho mails as it used to pay the
stage lines The government paid Wells,
Fargo & Co. $1,75c, 600 every year for
carving the mails before this road was
built. The mail in their case was not to
exceed 600 pounds. As soon as our rail
road was completed We had to construct a
special car for mails, and we carried
eighteen tons Of mail matter and two
messengers. Tho government controls
this ear. and we often nave to pat one or
two extra ears ON to carry the mails. In
the time of the Wells and Fargo express
the heavy mail went by Panama, and only
the letter mail was carried by them. Now,
we carry everything, and yet the
government has never paid up 10
this date quite $l000,000 a year TO
both the Central Pacific and the Union
Pacific for this service, whereas. as |
have stated. it paid Wells & Fargo 90
coo a wear. We have thrown a number Of
states and territories open TO settlement,
and we have done an incalculablc amount
of good 70 the country. H. is not true
that we have not done what We promised.
The company has performed all rs oblisa
tions. 1t has never made cent at the
expense Of the government or of the
people. We had TO rush the building
through at double cost because the gov
emmcut wanted the road, and it did not
fulfill its obligations to US in surveying
the land according to its contracts rs
TO the lands of the government they have
doubled in value. They were worth
nothing at the time the railroad was
built and they are now worth a great
deal We had to build cross roads in
addition to the Central Pacific, and we
have built altogether 5000 miles of road. -
~.
"How about other Pacific roads,
"Thev all compete with us. and the
Central Pacific railroad is today mainly
California road For time we had prac-
tically the whole business Of the country,
and our only competition was the steam
ship line by Panama. Now. there are the
Southern Pacific, the Atlantic and Pacific.
the Northern Pacific and the Canadian
Pacific The Canadian Pacific now takes
freight in bond from san Francisco aud
carries if north. and ships it across the
country 10 the eastern United States
citic, at less rates than we can offer ac-
cordnar To the interstate commerce law.
4 commission of the government went
last year to Japan. and they took the
Canadian Pacific and the Canadian ships.
Il is true the company has grown in bust
ness. but competition has grown faster
than business. All of thesc roads have
their agents in san Francisco, and you
viii find them soliciting business i'll com
petition with Us.
How about the Canadian Pacificf'
Il don't know whether it will pay or
not. They receive a great deal more from
their government than we ever did. They
got $50 eco 900 and biz land grant, and
they got it outright The money we got
from the government was only loan.
We had To pay high interest, and were
not as well OH as IloNl bltTpA cI'- " men
We undertook 70 build the Central Pacific
the government practically assured us
that we would have no competition and
we understood shat il would not aid other
roads tocompate with U.S. Had we known
differently doubt whether $50 could have
put Oh. road through u is done how
ever. aud the rails viii stay and the trains
wl run vhlteycr De the action Of con
erc,, and the government in regard tous.
/ think the Central Pacific road wa. well
built. and we run through trains ct a uni
form rate of twenty miles an hour.
~
asked senator Stanford as to his horses
which were burned the other night, but
he did not like to talk OF them. and the
drifted into horses and horse
breeding generally. II became interested
in thoroughbred horses. said he. through
i'll health. Ny doctor had ordered vaca
ton for me. and had told me that | must
go away on tour could not leave at
/ he time. and he advised me to drive as
much as possible. bought little horse
that turned out to.be remarkably fast, and
it was in the using of it that | became in
ono. II -, .l,n study of be horse and IL