Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1888-02-11
NEW PUBLICATIONS.

Paclnc Railway commission, appointed Ac-
cording to the Act of Congress Approved
March 3, 1887. By Roscoe Conkling and Vim.
D. Shipman of Counsel for the Central Pacific
Railroad Company. New York: Henry Bas-
sey, printer.
Probably no other book or brief has been
issued which has so clearly and especially
stated the railroad question, so far as it re-
lates to the issue between the Pacific Rail
ways and the General Government In the
limits of an ordinary review it is not posi-
BILE to set forth with any degree Of detail
the arguments in this convincing brief.
We must content ourselves with a state
ment Of the points made, and expression
that the arguments advanced and lllustra-
tons used in support are remarkable for
their simplicity and directness, and with
which they are applied. No one can mis-
understand any point made, there is no in
volvment of language or thought, or d sin
gle ambiguous sentence or statement.
The counsel first treat of the public
policy that led to the passage of the
Act TO aid in the construction of
the Central Pacific Railroad. Under this
head the history CT legislation by the Gen
eral Government is reviewed, and it is
clearly shown that the work fostered was
viewed as Of first national importance, and
that at no time was 1t contemplated that
the Government was to assume the attitude
TO the road of an exacting creditor. The
whole view of the legislation for prelimi-
nary surveys and inquiry, and the final
AcIS in aid OF the pioneer railway builders,
bears out the statement that the people
were content to have the roads built at al
most any sacrifice and at any cost. There
were far-seeing men then in authority, who
foresaw that the building of the roads in
volved more of gain and benefit to the
Govern ont l,aYa 2 ha
projected roads were looked upon as means
to the preservation of the Union. and the
development of vast area of country, that
otherwise must remain but partly explored
The temper and tone of the nation was
clearly in favor of the aid for the benefits
10 the Government irreSp ecuve OF financial
return from the roads. As one of tie SEN
ators of that day said-and he reflected the
general sentiment-the road was fostered
as political necessity, to bind the country
together, and he cared not whether it paid
as an investment. IT was to be national
meaus of communication across the CONT
nent-that was the one great end and aim
The second division of the argument is a
consideration of the contract between the
United States and the Central Pacific Com
pany. The grant of lands and bonds was
made on condition of building and main
tanning the road and telegraph line, and
serving the Government in transportation
the bonds were to be paid at maturity, and
the compensation for service to the Gov
eminent to be applied 10 the payment of
bonds and interest, and after the compile
ton of the road, until the bonds and inter
est were paid, at least per cent. of the net
earnings were to be annually applied to
such payment. This contract is clearly
proved by citations of the law and from the
debates preceding it.
The third division is devoted to the sut-
ject OF the change of the contract by Act Ct
Congress OF 1864, by which the credit of
the company was improved by Increased
aid. Next is considered the difficulties of
construction and the great and unforeseen
cost involved. There is no more interest
ing historic chapter in the volume. Il is
then demonstrated under the fifth subdi-
vision that the Central Pacific Company has
kept to the letter every Obligation to the
Government imposed upon it. This chap
ter, were it given general publicity, would
ehectually destroy the demagogic rant that
the company has deceived and defrauded
the Federal Government, and avoided
the terms and spirit of its contract.
Upon the question of dividends" il
is shown that the Government has had the
security which il demanded and that it has
not, IN respect to it, been imposed upon in
any manner whatever. Under this head
exposition is made of the fact that the road
was not completed on the proceeds of the
bonds furnished by the Government. The
sum realized from the bonds of the Gov
eminent is set forth, and the fact that the
aid gwen, together with the sale of stock of
the road, was insufficient to complete the
road and that it was left heavily in debt.
But it is also shown that, regardless of any
sum divided among the stockholders. the
company never was and is not now in de-
fault bat has rendered to the Government
everything required in the contract
Under the eighth and ninth divis-
ions OF the subject, the contracts let to
Charles Croker & Co. and to the Contract
and Finance Company are treated of, and
the whole subject laid bare, and all the
details of fact recIted leading to the ueces-
sity of such methods as were adopted to
complete the road and accomplish a task
the greatest ever undertaken by private
individuals in the history of the nation. if
not OF the world. The financial exhibits
of the cost of construction and the applica-
ton of aid received, are very fully detailed.
Under the tenth and eleventh divisions,
the purchase and building of roads consol-
ldated with the Central Pacific is treated.
and the policy defended and the reasons for
II Justified as wise, economic and abSo-
lutely necessary, and as resulting in the
highest benefit 10 the country and to the
company.
The twelfth chapter is devoted to the
subject OF alleged diversion of traffic from
aided TO n-aided lines, and issue suuarely
taken as to the truth. 1t is true, say coun-
sci, in but one case, and for that the Gov
eminent is alone responsible. The whole
question and all the facts receive elaborate
treatment, but cannot be more conclu-
slvely stated than in the chapter itself.
The thirteenth chapter is devoted to In
huenclng Legislation" and after full expo
sltion of charges, it is shown that every ex-
Pendlture has been responded to by de-
tailed vouchers. On the abstract question.
1t is contended that every citizen
caring for his birthright influences
legislation when he declares his
preference for one candidate over another,
or one policy il preference to another, aud
that this is both a right and duty. The
employment OF effective service to resist
injurious or promote wise legislation is de-
Tended with clearness and convincing force.
Citations from English practice are made,
that show how necessary became expendi-
lures there to preserve vital interests from
legislative assault, and to promote legisla-
ton that IS necess airy for the welfare of the
country and institutions conserved hv its
policy. The whole system of watchfulness
over employees, the security for faithful
ness in service, etc, is incidentally treated
and well as the need for corporations
20 protect themselves from the vicious bv
ell proper means. Ghe disastrous effects OF
the Thurman bill are considered in the
fourteenth chapter, and in the fifteenth TIE
Indebtedness of the company to the United
States. Neither OF these chapters can be
more than referred 10, for the reason that
anything less than carefully STATED expo A
sition OF tie financial questions involved
WILDE lntelligible, any attempt at synop-
Sis would BE liable 10 create misconcep-
tons. The equitable claims of the COM
PAN. throughout the whole book are pre-
scented with ,frankness and ,witheut the en-
ployGaent o. any roundabout methods.
The POSITION is taken ana established that
the policy OF the Government toward the
company, since the completion Of the road.
has been Injurious it; has narrowed its ca
pacity 70 carr, and has deprived it of credits
clearly its due, besides diverting legitimate
traffic ffsm it. At the same time it is
demonstrated that the company has kept
Its compact with the Government, and that
II is entitled to its consideration in securing
an adjustment CT its Indebtedness tLpon a
basis that Kill recognize the equities of the
company, deprive the Government of no
part of its due, an6 not cripple the road in
any respect. The whole thought o. the
work moves gpon the plane of jastice, fair