Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1888-03-21

really exist. That is fairly to be implied from
what they have said. The contrary is the case
Congress specified the equities, admitted their
existence and directed the Inquiry. Our Mr..
Raymond will discuss all these things more
carefully. There is a great deal to be said about
them. 1t is the history OF a great work from its
conception. and cannot be disposed OF in few
minutes, and my object was simply to place the
company in fair attitude at this time, in order
thet you might consider the case without pre-
jndice. If we to-day had the business that we
fairly had right TO anticipate. and that we
once enjoyed, there would have been no occa-
81 n for this investigation. We should have
been able to pay the debt in full but as it is now
we thlnk tnat we are fairly entitled to have the
equities considered by strong creditor who
Will reap all the advantages which we supposed
we would reap from this contract and more.
MONEY SAVED.
Now, the Government has a debtor to deal
with, the question is whether it will be as Just
as individuals dealing with one another would
be under the Same circID' stances. The money
to meet all these eQui les has been saved to the
government alrs ady many times over. 1t has
say ed the difference between what it would pay
out and what i has actually paid, amounting to
over sSOO,OOO,OoO. aud has obtained advantages
i'll other WAYS which cannot begin TO describe
Even the land grant 1t gave US has doubled the
price OF every alternate section, so that the
Government has really given us nothing in tn at
direction. The land was worth nothing before
the railroad was built, and now it is worth q
great deal.
Inc CDAlrman-SO tlaL the Government did
not help you in the building of the road?
Senator Stanford-They helped to give US
credit
The Chairman-But they did not furnish you
the money?
THE LAND GRANT
Senator Stanford-No, not during that time.
We have sold some of these lands, but the Gov
ernment has not been very liberal with us, even
in that respect There is a popular impression
that we have neglected take out land patents
so as to avoid taxation. There hasnever been q
time since our road was completed that we had
the money to pay for surveys but We have not
as a rule sold the lands granted to the road be-
tween Ogden and Sacramento until we had
them surveyed ourselves.
CONVEYED TO SETTLERS.
The settlers go in and occupy them and when
the time comes that we obtain patent from the
Government, We convey to those people at the
credited price without reference to any i'm
provements that have been made, so that we
have saved nothing in the way OF taxes on these
lands, and besides we have suffered, no doubt, a
very large amount, our land agent estimates it
at So, 10000, by not having these patents issued
TO us by the Land Department at the time when
We had the money there to pay for the survey.
Senator Dawes-Have you not been able TO get
your surveys made by the Land Department?
Senator Stanford-No: there has been delay
constantly. l do not think we had single pat
ent issued for three years We have demanded
patents from the beginning and the Government
has failed and refused to comply with its con-
tract. The law provided that as soon as the
line of the road was definitely fixed, the Gov
ernment should cause all the granted lands to
be surveyed.
No SURVEYS MADE.
The surveys have not yet been made The
other roads across the continent passing through
better country have sold their lands in ad-
vance OF the surveys but in our case we have
not been able to get the money for the lands be-
cause the lands have not been patented to u.s.
Now if we are required to meet this debt by
arbitrary requirements the burden will fail
chiefly upon the people of Utah and Nevada.
They tannot very well escape using the road.
The other business upon which we anticipated
n aking large profits to enable us to meet our
obligations to the Government has been sub
Stantlally destroyed by the acts of the Govern
ment itself. The Government has had all the
advantages it anticipated, ano much more. It's
lands along the line of the road have doubled
in value and if the bondswere paid at maturity
ii viii not cost the Government one cent for the
construction of this road.
In closing, desire to say to the committee
that every statement have made to-day as is
contained in my testimony as given before the
Commission is supported by other evidence
given before the committee. and that there has
been and can be no contradiction.
SENATOR EvARTs BILL.
The Chairman-Senator Evarts introduced a
bill in the Senate March u, 1883, to provide for
the settlement satisfaction and discharge of the
claims growing out of the issues of bonds of the
United States to and in the construction of the
Central Pacific and Western Pacific railroads.
Is 'udL Il pFOpOSlllOn IOIU your company!
Senator Stsniord-Not exactly; but have no
doubt the railway company would agree 10 that
bill with few slight amendments. While !
was cogniZant of the fact of that bill being pre-
p red, was absent from the city at the time
and did not see it until after its introduction
think it will need some amendments. Very
likely.
The Chairman-But in the main that is salts
factory TO you?
Senator stanford-It is in the main; but
think if Congress will allow the company the
equities fairly due it; they may want to modify
the terms of payment considerably. | was
doubtful whether to ask in thsgEay arrange
ment for the payment OF balances that might be
found due. he first thing is to ascertain what
is due. and want Court don't care whether
you take the present existing Cours or whethei
one Is created-bDt want full, thorough and
! impartial eXoneIation of all matters in con
trOversy- There have been so many rumors in
regard to this whole subject, and so many loose
statements tnst a Court should investigate il, in
order to satisfy every body as to what is iair be-
tween the company and the Government That
there a-e equities Congress itself has recognized
by directing the Commissioners to make in
quiTieS in o them.
The Chairman-The committee will now listen
to Mr. Raymond, the counsel for the Central
Pacific road.
THE argument of Colonel Raymond viii be
published on Saturday.