Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1888-01-12
RAILROAD, AND GOVERNMENT.
The Question of Indebtedness and the
Advice to Settle 1t.
New York sun, January ID

Three years ago, at the beginning of the
second session OF the Forty-eighth Con-
gress, we advised the Democratic majority
in the House to clear the decks for the in
coming Democratic Administration so far,
at least, as one disturbing question was con-
cerned, by the passage of some reasonable
bill which should make final settlement
of the confused and unsatisfactory relations
existing between the Government and the
Pacific roads
Among the evils which we at that time
pointed cut as certain TO ensue from the
continuance OF existing conditions was the
use TO which spectators, j5bbers, and black
mailers in the street anu in Congress, and
such corrupt newspapers as the New York
World, would put the law making power
for stock gambling purposes. We said then
that 50 long as the question remained open
and the value OF the Pacific railroad stocks
was dependent upon the chances of legisla-
ton and the caprice OF Congress, there
would be such temptations to Congressman
10 make corrupt use Of their official trust
as would some time end in ruiuous scan
dals.
In proof of the correctness Of the position
then taken is the fact that at each session
of Congress since that time reports have
been freely circulated that Congressman
were long or short OF Union Pacific, which
they had bought or sold on the strength of
what they knew about the chances for leg
islation. Now, the number OF speculative
Congressman may be small, but one thing
is certain, that conditions which offer
temptations to these few necessarily cast
suspicion upon all. The possession of
power TO affect market values is extremely
dangerous sometimes to characters, often
10 regulations. The retention OF that
power a moment longer than is manifestly
required by the public good only strength
ems the suspicion of improper motives
| Contrary TO the urgent advice of every de-
| partment officer who has had anything to
DO with the question, and to the suggestion
of the President in his message year ago,
| Congress has upon various pretexts post
I poned this settlement until now. It should
| not longer be delayed
The inside history of the conspiracy
| which has so far defeated any action by
| Congress has not yet been written. When
| 1t IS, ii will appear that all the apparent
| soiicitude for the defrauded Treasury and
all the indignation against the grasping
monopolies with which certain newspapers
| have been filing their columns for the past
| two or three years had their origin in q
knot OF Wall-street spectators, whose sole
| interest in the matter was 10 depress the
piice of the stock. The ramficatlons OF
| inns conspiracy included several neWSDa-
pers, the World the chief among them, pos
sibly Congressman Or two, and consid.
cradle riff-raf Of nomadic persons who live
| by their wits. They defeated the consider.
alton Of the Cultivate funding bill at the
last session by clamoring for an investiga.
ton as condition precedent to any legis.
| ton.
The investigation was ordered, and It's
results, in the form of two reports. were
| published in the Sun on Saturday. In the
examination of witnesses the Commits
/ sioners discovered nothing that was moi
before known; nothing that can furnish
the slightest pretext for further postpone.
men; of decisive action. The majority o.
the Commission recommend definite and
practicable plan of settlement, while the
Chairman-whose appointment does moi
seem TO have been a fortunate one ha:
submitted cranky document filled witt
anti-monopolistic rant against corporations
generally and the Pacific roads in particu
lar aud recommending nothing PRACTICABLE,
or comprehensive.
What Congress should do, now that /
has all the facts before it, is to take hold O
the ma ter seriously, and settle the question
without delay.