The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1891-02-17
TIE PACIFIC bonds.


THE PACIFIC BONDS.
McConneIl Strikes tho Central and
Union Pacific Railroads.
WASHINGTON CIrY, Feb. l6.--[Speciall--
senator Mcconnell today brought up his
bill to forfeit the Pacific railroads to the
government and to issue notes for the pay
ment OF the cost of forfeiture. and it
was sent to the committee on rail-
roads. Mr.. Mcconnell spoke on his bill
hrst hkening the condition of slavery
which existed before the war, to the
slavery OF both the whites and the Million
airc railroad magnates, showing that the
grip which the Pacific railroads are getting
on the people will never be shaken off
unless something is done by the govern
ment ct once. The Pacific roads, he said.
were great cobra coiling about the people
OF the United States and slowly squeezing
them to death. He continued as follows:
BY introducing this bill, which may not be per-
feet In it, provisions but embodies the ideas
which desire to bring before congress. under
stand that antagonize the interests of those in
high place, the interest of those gentlemen who,
standing on the shores of the At
lantic or sitting In their sumptu-
ously furnished Offices In Boston or New York,
dictate the financial policy of the Pacific
IQeOe gem
tiemen whom I antagonize. ] would prefer
their friendship, but while know they may in
ture me politically and damage me financially,
e aSg 70 tine 9, the limited
Grafton. and am fmpelied by that duty to urge
upon the Senate and congress some action look
Ing to the relief Of the long suffering Of the peo
When the government made the Arst appro-
priation to the trans-continental roads it found
capital was cut on BY bristling cannon from its
Southern coast, and by trackless deserts and
mountain ranges from the Pacific. 1t was under
snd hs e ny 0ys
render aid in certain forms TO construct the
Union and Central Pacific railroads. The his
during the past twenty seoT. s one ,n 70
that legislation. Proinse in liberal.
IL. members and sss ps saGdsns
that the bills making these grants were suffi-
ciently guarded to protect every right of the
These franchises were given to comparatively
poor men. and, judging from the bin now be-
lore congress asking for an extension OF time in
which 70 pay Just debt to the government,
Mr.. President. If you should conclude to take
trip to San Francisco, rs take the liberty OF
March, you will arrive at Oakland pier early in
ferry-boat you will soon be ont on the harbor,
nostrils the fragrance of orange blossoms
from the orchards in the south. AS you stand
In rapture and awe admiring the beautiful PAN
will be attracted to the oriental magnificence
and splendor Of the effect.of the rising sun upon
the abodes OF the humble and poverty stricken
railway magnates on Mob hill. Ii will repay
you, Mr.. President, later in the day to take .
There You .will see the effect OF careful
mire beautiful granite brought from the banks
and braes Of bonny Scotland and lovely marble
from the quarries Of Italy. You will return to
majesty Of poverty and wish that you, too, were
poor.
congress to extend further benefits ID them,
and with unblushing impudence unparalleled
10 the history Of this nation set up plea Of
20 Visit the 0s shorss Of q the '' f fsi
inquire into who are the owners OF the more re-
gal palaces you see there. and you would be
told some one OF the poor fellows who are part
neys with the United States government and
owners in the Union Pacific snd Central Pacific
roads, while every wave that whispers to its fell
low or ianghingly filings its spray high up on
the rocky cliffs, win seem to whisper to you of
the forbearance and gullbility of the American
We will first make brief analysis of the
Union Pacific and its auxiliary companies. Tho
length OF the road and hrasches e go miles.
was paid for its construction to the Contract d
Finance Company, the Western Development
Company and the Pacific Improvement Com
gsnsy ss 81, IN bonds sls7soS IN ssc s;e
making total of s1ao,;sss,5ss. from
which deduct the actual cost Of construction az
So. 51i sos. A company chartered by the state
Of Kentucky in 1885, and called the Southern
Pacific Company OF Kentucky. leased the south
railroad for term OF ninety nine
years BY the terms Of the lease
the .ac c Pacific
term of ninety mine years from the LIST Of April
1855, the whole OF the Central Pacific railroad
situated in the territory of Utah and the states
of Nevada and California, together with all its
franchises, steamboats, and other property. and
also assigned TO said Southern Pacific company
al the leases which It held OF railroads "a and
north OF Goshen. Already those south of
Goshen were leased to and controlled by the
southern c ike e nhss 20 s
Southern Pacific. >, of Kcntucky The The
Southern Pacific; Of Kentucky. 70 the Central
of 81 10000 with provision that If the actual
earnings OF the Central Pacific railroad
nesb a o Goshen sSa sas
600 that the rental is to be made equal
to such excess up to the sum of $685. The
rpe o. bS who
directors in the Central Pacific Railroad Com
pany.
The speaker here paid glowing tribute
to Hon. G. Snow, former government di-
rector of the Central Pacific, and in recog-
milton of his bravery and honesty of pur-
pose. Mr.. Mcdonnell continued:
When the first donations were made to these
transcontinental companies, the government
was amply secured by first mortgage on the
roads. which was constructed by the money it
hsd so literally contributed. Not content with
this, the directors and stock holders are anxious
to have the first mortgage released that
they may remortgage the property TO other
q second mortgage The history OF this trans
action constitutes one of the dark pages in the
record Of Washington City lobbyists. If any SEN
ator desires, he can ascertain that for the pur-
pose OF bringing TO q successful conclusion the
corrupt legislation. There has been expended
the vast sum OF $59l ,253.2. II the
committee to whom this bill will
subject, will give the dates upon which the
drafts were drawn, by whom drawn and by
whom paid will give them the names OF the
subcommittee to whom this perhdious account
road, and by them passed on, and by
their Recommendations charged TO the
.expcnse account of the Union Pacific railway
people, who are tributary TO its line, and are
expected to pay today such charges as will pay
interest not only upon such sums as were ex-
PENDED on the actual construction OF the road
but upon this S5al ,2oS.2l which was used IN
Washington City TO bring about this enactment
There will como time when the working
men, farmers, merchants aud miners viii tire OF
allegiance to political parties which only pro-
tect the interests OF the rich. Already the NUT
ierincs of their indignation and discomfort may
be heard.
Let us not neglect the modest wishes OF the
people They do not ask confisoa'ion OF the
nroperty OF any corporation. They only ask
such protection from transportation companies
as win secure to them a fair division OF the pro-