The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1894-05-04
HARD TO COLLECT.
The Debt the Union Pacific Owes
Uncle Sam,
Is a Difficult Matter to Dis
pose Of
MIR. OLNEY'S SCHEME
He Opposes Government Control
of the Road.


ton ON this Pacific railway business, .
said member OF the committee in CONVEX
satiOn on the bill sent in by Attorney Gen
eral Olney- Ordinarily there would be
great difference of opinion as to which is
the better measure, even if the committee
and house were Of one1general mind on the
subject of railroads, but we have men who
are wild with luminosity against all rail
roads, men who want government to run
them, men who want to recoup or replevin
all the money made by the men who built
the railway, no matter in whose hands it
is. The BOatner proposition was pretty
favorably received, but of course the Olney
bill would have the highest standing as
coming directly from the highest law officer
of the government. You must remember
also that drafting this act was not officious
or voluntary on the part of Mr.. Olney but
was done in compliance with resolution
passed by the house last October. 1t is
true the main object of that resolution
was to get his opinion as to what additional
legislation is needed, and he has answered
that in the best way by preparing this bill
We passed resolution soon after the road
was put into the hands of the receivers -
The OInay Bill.
An examination of the bill and all the
accompanying papers shows that by the
very greatly enlarged. At present the only
assured lien of the United States is con-
fined to l, 4z2 miles OF the main line, while
the new bill would give as security all the
property of the company, main line and
branches, making a system of over g. 900
miles The existing corporation is to be
preserved unless foreclosure is made neceS-
sary, when a reorgani zatiOn is provided
for The first mortgage bonds, amounting
to little over $33, 600, 600, are to be re
newed and extended at q lower rate of in
terest, with a provision for a sinking fund
which will extinguish them at maturity.
The great debt of $40, 900, 600 is to be
put in Q per cent leo year bonds, with a
sinking fund 90 arranged that it will ev-
err year pay ST., $50, 600 in principal and
interest until the whole debt is extin-
guiShed- Here and there through the at
torney general paper are found state
ments of general policy so blunt as to be
amusing Thus in treating of the PROPOSE
ton that the United States shall manage
and run the road he says.
1t has been taken for granted that any
permanent assumption of the operation of
the road by the federal government will be
universally deprecated on all grounds, po-
1itical as well as economical Such opera
ton, as experience has shown, would be
both less efficient and more costly than
operation by private agencies 1t would
inevitably take a political character and
in the hands of the temporarily dominant
party would. become a most potent instru-
mentality for the punishment of enemies
the rewarding of friends and perpetuation
of its own ascendancy. 1t is therefore as
sumed that congress will not seriously con-
template the setting up of huge political
machine for what would inevitably prove
the mismanageIhent of one of the most
important railways in the country
The Cry For Action
Owing to the organization of the house
last August and the prolonged debate or
rather roll calling, several of the commit
tees have got entirely through with their
work, and as fast as they get their bills
through the house they turn by one i'm
pulse to home politics. Thus in the room
of committee which has discharged its
functions committee for this term
may get daily and almost hourly news from
the country and form very fair idea of
what the people think of this congress-
From early in February until quite recent
" all the advices from distant constituents
might have been summed up in the old
personal ad, - with one word changed. 1t
was Act, act, only act, and all viii be for
given And if one could judge by the
election returns the longer this body didn't
act the more adverse TO voting their con-
stituents grew, but from many Democrats
now comes the testimony that things look
much more cheerful The committee on
appropriations, having completed its work
among the first, has had time to get well
informed, and even the late William Camp
bell Preston breckenridge wears quite a
cheerful look when he sits in the commit
tee room and tells how smoothly every
thing is going in the Ashland district. In
spite of many cold looks and few rather
pointed snubs the old man actually seems
to be gaining ground. People who happen
into the committee room and como upon
him unexpectedly often start back in a
way that is ludicrous to the spectator and
must be annoying to him, and almost
cry newcomer to the galleries asks to have
him pointed out Tt is one of the COM
monest things in the events of a day to see
half a dozen glasses leveled at him from
the ladies gallery, but he bears it like a
veteran, and some of the best guessers in
the house think he will be reelected.
The Hatch Bill.
Other members of the committee from
the south express the most sublime conf
dence as to their prospects, and taking the
whole southern field nobody comedies to
Republican or Popu1ist any gain over their
present membership unless it be in North
Carolina The committee on agriculture
is very far from having the same leisure
and light enjoyment, as Mr.. Hatch and his
colaborers are preparing for the greatest
effort OF their lives in aid of six or eight
bills out of the dozen more they have
prepared with such labor Mr.. Hatch says
that every possible objection constitu-
tional grounds or any other has been met
in the present antiOptiOn bill; that every
delegation opposed to it has been listened
to and every argument carefully consid-
cred and now there is but one honest thing
to do, and that is to put it through.
Probably very few people in the United
States were weak enough to suppose that
the cff1ai.1c~ faxU- NOR, like Cox