The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-12-08
PooLINa OF EARNINas-
me House Devotes Most Of the Day
to the Railroad Bill.

Washington. Dec. The greater portion
OF to-day's session Of the House was de-
voted to a continuation OF the discussion
on the bill to so amend the interstate
commerce act as to permit railroad COM
panies TO pool their earnings. A resolu-
ton offered by Mr.. Wilson, dem, OF West
virginia, was passed distributing the sub
jects OF the Presidents message among
the several appropriate committees. On
this resolution the House was briefly ad-
dressed by ex-Speaker Grow, rep. Of Penn
sylvania. who presented his views in re-
gard TO amendments to the national bank
act necessary TO secure the desired elias
uclty OF the currency issued by the banks.
A Dill TO protect the public forest reser-
Vauons was discussed for an hour. but no
conclusion was reached by the House.
Inc order for a session tonight for the
consideration Of pension bills, was va
Gated.
A resolution was agreed 20 giving the
committee on banking and currency per-
mission TO sit during the sessions of the
House.
When the railroad pooling bill came up
as the general order, Mr.. Patterson with
drew all the amendments offered by the
committee to the bill and the debate was
York who supported the bill.
Mr.. Bryan, dem, of Nebraska opposed
the Dill in strong speech. Among other
Things, he referred to the speech made
yesterday by Mr.. Reed. rep, of Maine.
expressing the opinion that never had the
House listened to so bold an advocacy Of
the right of monopoly He agreed with
Mr.. Daniels, rep, of New York that the
railroads should not come to congress to
protect themselves against their own mis-
management or "ruinous competition
MI. Bryan gave notice that at the proper
time he would move to amend the bill
so as to secure a basis upon which the
committee shall act in determining the rea-
sonableness of rates. His proposition was
that the committee should allow a profit
upon the cost Of the reproduction of the
road and rolling stock at present rates, re-
CARELESS Of the original cost of the road
regardless of all expenditures and regard
less of the amount of capital stock is
sued, either real of fictitious This was
the rule, he said applied to all other bust
ness and should be applied to railroad bust
ness.
The passage of the bill was further op-
posed by Mr.. Northway, rep, Of Ohio
MIR. Wise, DEM, of Virginia, chairman
of the committee on interstate and for
eign commerce, replied to Mr.. Northway
Referring to the latter gentleman's re-
LudTh lndt the passage OF the Dill was
urged by the railroads alone, he said that
it was advocated by boards Of trade and
transportation all over the country ard
by every state railroad commissioner ex-
cept one
The discussion of the afternoon was
concluded by Mr.. Cochran of New York,
who advocated the bill as one which
should be supported by every man who
desired that the commercial conditions
of the country should be such as to bring
about commercial prosperity. If the rail
road companies, he said, were denied wha
they asked in the pending bill, they would
seek the relief, he believed, in consoli-
dation as the telegraph companies had
been consolidated.
In answer to a question by Mr.. Cox,
dem. of Tennessee, Mr.. Cochran said he
believed the passage of the bill would
result in a reduction of rates for the rea-
son that it was the policy of the railroad
companies to constantly reduce
charges. The railroads certainly did not
seek to lay waste the country from which
they derived their support-they sought
| those conditions which made the prosper
ity of the towns through which they
passed. And he did not believe the intelli
gence of the House was so low as to pre-
vent the passage of a beneficent, equitable
measure upon the cry that the railroads
deserve it,
At o'clock the House adjourned.