The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1889-11-01
GETTING WISDOM.

The government directors Of the Union
Pacific have reported to the secretary of
the interior that in their judgment 1.-The in
terests of the United States demand early
action by Congress to secure the payment
of the indebtedness to the government"
This is interesting. 1t is entertaining, if
not instructive. For years, ever since Mr..
CHARLES FRANCIS ADAMS has been presi-
dent Of the Union Pacific, that company has
been urging upon Congress the necessity of
taking some action in regard to the pay
ment of the Indebtedness. The Union Pa
cific has offered everything in reason, and
proposed to do all in its power to lessen and
finally get rid of the obligation. 1t has not
asked to be relieved of the responsibility of
the extravaganza, corruption and thievery
which characterized the construction of
the road. It has not even asked the
government to take into account the
incalculable advantage which the road hes
been to the nation. in both financial and a
political sense. 1t has not requested the
government to consider the fact that the
building of the road opened an empire and
made it possible for millions of American
citizens to live, to grow rich, and to con-
tribute to the strength and wealth of the
nation, in a region which would still be an
uninhabited, unproductive wilderness had
il not been for the Pacific railway. The
company has proposed to pay in full, for
stealings. extravaganza and all. 1t has
shown by its books and its prospects that
it cannot pay as originally agreed upon,
and that it will be impossible to pay the
+bo
ment asks for the use of its money. What
the company requests is reasonable and
equitable. 1t is that the government
will give 1t time, and reduce its
interest to such a percentage as the road
can pay. Nothing could be more fair.
Another creditor would have accepted the
offer long ago, and been pleased with the
arrangement; but the government, which
never made better investment than in the
transcontinental railroad, if not dollar of
the money loaned shall ever be returned
to the treasury, has been held back by
bIatherskites and unreasonable Congress
men trying to make a reputation for
honesty and uprightness. The consequence
is, that the company has grown weary of
trying to satisfy those who will not be sat
isfied and lately has shown a disposition to
take care of itself and let the government
do the same. Itwouldn't be very serious
blow to the Union Pacific if the govern
ment were to do its worst-that is to say,
Il holds a mortgage in satisfaction
of the debt. In fact, it would be money in
the Golfers of the company, while the gov
eminent would have 20 care for a costly
white elephant. For less than half what
the Union Pacific owes to the United
States, the subsidized line can be paralleled,
if that were necessary, though the Union
Pacific is so well fortified that it would
have to build less than three hundred miles
Of road to be entirely Independent of the
main line upon which the government
holds a lien.
1t seems that the government directors
have taken in the situation, but whether or
not Congress will do the same thing re-
mains to be seen. Perhaps there will be
enough cool-headed intelligent men in the
body to override the demagogues, who
think it makes them popular to
shout, in season and out of it,
about the dishonesty and scoundrelism of
subsidized railroads, and the SHYLOCKs
who demand their pound of flesh, knowing
that to produce it win cause death.
After his failure to induce Congress to
do anything President ADAMS said, last
winter, that he had been for years working
for the government, and hereafter he pro
posed to work for the Union Pacific. If he
will only stick to the resolution, govern
ment may get wisdom and see the neces-
sity of settling on terms which will be
equitable and, taking its clutches off the
throatof the company, permit the latter to
earn the money to pay its debts.