Los Angeles herald., 1890-04-06
STANFORD'S PLANS.
Home for a Month From
Washington.
Will Go Abroad Soon for His
Health.
Thinks He Will Resign the Railroad
Presidency.
Wants Reelection to the Senate for
Several Reasons-Talks Freely
of His Designs.
Associated Press Dispatches ]

Associated Press Dispatches
SAN Francisco, April 5.-Senator
Leland Stanford, accompanied by Mrs.
Stanford, arrived in this city this morn
ing from Washington.
The Senator in Ill Health.
WADswoRTH, New, April 5.-Senator
and Mrs. Stanford were interviewed
here last evening on their way to San
Francisco. The Senator is suffering
from i'll health, and after remaining in
California month will return to Wash
ingtOn, and from there go to some of the
bathing resorts in Germany, prominent
New York physicians having recently
advised him that such step is neces-
sary to arrest certain incipient organic
troubles.
Will Resign the Railroad Presidency.
81 have notified my associates" said
the Senator, "to expect my resignation
from the railroad presidency soon. 1t is
too much for me to attend to with my
other duties. II | have my way, Pll
turn over the presidency to another man
at the directors meeting next week"
'Is Colonel Crocker to be the next
president of the road?"
"The choice of a successor to me de-
pends 50 much upon the preferences of
Mrs. Searles and Mr.. Huntington that |
cannot answer that. There are less dis
agreements among the owners of the
road than ever before, and there is no
doubt that they would make an harmoni-
GUS choice"
Wants Reelection.
The Senator said he wanted reelection
to the Senate.
81 am indebted" said he, "to the
people for many kindnesses in the past,
and could appreciate another manifesto
tion of their kindness. 1t is my earnest
wish to remain in the Senate few years
more for three reasons. First, [ want to
be in position to press upon the atten-
ton of the people the scheme OF loaning
Government money with land as
security. My position on this subject
is not plainly understood by many. The
measure is not impracticable, and
there is no private business that
has such lien on the people
that it warrants interested parties in
saying: You shall not adopt meas
ure for the benefit of the masses 1t is
virtually a further application of the
principle by which money is loaned on
bond security. Interest paid on bonds
by the Government is an economic waste
of the peoples money. Furthermore,
the life of the bond system in our Gov
ernment is nearing it's end.
"My next reason for desiring to go
back to the Senate is to do my part in
promoting an intelligent discussion Of
the money question in general among
the people.
"Of my third reason in wanting to be
reelected | do not care to speak"
The Central Pacific Debt.
The Senator was asked to give his
opinion OF the pending legislation in
Congress for the settlement of the Cen
tral Pacific debt. "My associates and
myself" said he, "don't like the pro-
posed bill, but we will take no action
against it until such time as it becomes
law. My individual wish is that the
debt be settled by the Government
taking mortgage on all the property OF
the Southern Pacific Company as Sc
curlty; take up all liens now
on the property, and in lieu OF them
issue Government bonds at 2 per cent
The time the bonds shall run is imma-
terial. The Central Pacific alone cannot
pay the debt. 1t is poor road. Ten
years ago it was able to pay $4,000, 900
annually to the Government; now it
hardly earns enough to pay $500, ,OOO
Gas to taking part Of the debt to
build tunnel through the Sierras, | am
in favor of it, if Congress is willing"