The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1891-01-13

compelled to pay, and the principal of the
subsidy, aud the balances due on account
of interest and the unpaid coupons, now
amount to nearly $66, OOO, 200
The control Of this road, reaching from
Kansas City and Omaha t o the Pacific
Coast, was necessary to enable Mr.. Gould
to complete his scheme of a RAILROAD
Tru t." organized for the purpose Of ex-
torting $22, 1000, 900 annually out of
Western producers to pay dividends to
Eastern stockholders. 1t is fortunate for
the people that he has obtained control at
a time when the Union Pacific Railroad,
alarmed at the approaching maturity Of
its subsidy, is a suppliant to the govern
ment to ex' end that subsidy for fifty
years withoWt adequate security. By de-
feating the proposed extensi n, and hav-
ing the government f~oreclcse its lien on
the road, the Farmers Alliance can de
feat the Railroad Trust scheme. Although
the amount properly due the government
by the road amounts to about $66, 600, 00O,
Senator Frye of Maine, introduced q bill
in the last session of this Congress that
reduces his 20 $50, 600, 600, by deducting
discount from payments a by the
government for the account of the road,
instead of adding interest to them; and
then he gravely advises the government
to accept for this balance 3 per cent fifty
year bonds, secured by a mortgage pre-
coded by $1l5 900 900 bonds, wheu the
government now has a second mortgage
on the Union Pacific Road. lands end as
sets preceded by only $33. 500 900 bonds.
He advised the government to accept
these 3 per bond at par, when bet
ter bonds Of the Union Pacific Road, pay
ing Al and 5 per cent, are offered at rs
and 81. Such an extension will be the
means Of the government eventually los
ing the entire amount Of the subsidy, and
only a foreclosure o: the government lien
at once can save it, and, by removing the
roa / from Mr.. Gould's control, defeat his
Railroad Trust scheme. If the Frye bill
passes, it will place many millions in the
pockets of Mr.. Gould and other stock
holders of the Union Pacific Railroad.
The charter of the Union Pacific pro-
vides that its telegraph line shall be open
to all telegraph companies on the same
terms. This line, although built by money
furnished by the government, is now
monopOlized by the Western Union Tele-
graph Company, and the control Of Union
Pa ifc is as necessary to Mr. Gould to
defea5 Mr.. Wannamaker's plan of cheap
telegraph facilities as it is to perfect his
Railroad Trust. The Union Pacific has
repeatedly violated the United States Laws
of 1873 and 1873, and has placed its char
ter in jeopardy. Th4 attention Of the
United States Attorney General (whose
duty to enforce these laws is made man
dAtOry) was called to this matter last year
by the Attorney-General of Nebraska.
The Farmers Alliance can cell the at
tention Of the country to- and can defeat
the scheme of Mr.. Gould. by presenting
to the United States Attorney General
some such resolution as this:
WHEREAS, The managers Of the Union
Pac fc Railroad have repeatedly violated
the Acts of 1873 and 1873, and are now
coRspiring with other "a lrOads to torm 3
railroad trust, in violation OF the statute
agains trusts, in violation of the charter
of the Union Pacific Railroad, and to de-
feat the provisions of the Inter State
Commerce Act; therefore be It
RESOLVED, That the Attorney-Genera of
the United S ates be requested to declare
the charter of the Uoion Paci ic void, and
to proceed to torecIose the lien of the
United States against tn road, and t.
force against its officers the prescrioe'
penalties of the violat I'd Acts of 1873 and
1873
If the Attorney-Genera does not heed
yonr petition, have your representatives
in . ngress press the matter then.
Have your newspapers print this; let
the people under stand the character o:
the railroad scheme, IL Congress and out.
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