Evening star., 1895-02-02

debt. but 1t did discharge all the debts of
the incorporated pirates WHO had ra;ded
the treasury of he ICads during the last
thirty years.
A long controversy followed over the
question of whether the bill would extin-
guish the debt in fifty years. Mr.. keilly,
who was standing close to Mr. Breckln-
ridge, emphatic in his SesticuiatioEs
while speaking that some of the members
crowded about. and the galleries .craned
their necks thinHins they were to witness
repetition of the Heard -BreckinriGgc row
of yesterday.
Mr.. Maguire Cali declared that the pay
nents under this bill would aggregate an
nualiy ! l-2 per cent on the debt. agd hav-
ing paid that percentage for fifty years the
whole debt would he discharged a.. -.
This naI been furiously denied by men,
bers OF the committee, but IL was true, and
he would prove II.
An Attempt to- Extend the De bate.
At this point an attempt was made TO ex-
tend debate Oh the bill until Monday or
Tuesday. The leaders on both sides agreed
that Ii was necessary TO the Intelligent un-
derstandilg of the bill. but Mr. Lane ull)
objected and Mr.. Lockwood IN. " de-
manded the regular order.
MIR. MaSdirc accordingly proceeded. deyot-
ing most of his time to the disc asSion of
the frauds by which Huntington, CrocNer
Stanford and Hopkins as directors turned
over to themselves. as stockholders. SG2,-
ODJ.VD Of profits.
If Warren Hastings had been manipulate
ing the road he would have been more con-
siderate than those four men. They bond
eu the California AMI Oregon built out of
the funds of Central Pacific, for $ll .oV'.WD
and turned every dollar of il into their own
pockets. The time was at hand when these
men their estates could be reached.
Fifteen millions OF Huntington's money aGd
SlJ,HD.nDD of the estate OF Leland Stanford
could be secured. Fifteen millions of the
estate of Stanford were now tied up 10
satisfy the statutory obligatssE. The main
object OF this bill was to release that prop
eTty by operation OF the law.
Mr.. WeGdock tMichJ in reply. reiterated
the assertion made previously in the de
bate that the bill reserved all the rights
and remedies against the Big -Four.
The b!ll, he said. presented reasonable
and business-like method of collecting the
debt due from. the. roads.
Mr. Tcrry's Amendment.
Mr.. Terry (ArkJ offered an amendment
requiring the holders of the first mortgage
bonds TO waive their priority in favor of
the United States when the companies
make provision for the payment CT the first
mortgage bo 'ds as required. before the
companies shall have the nens ift'of The act.
Mr.. Reilly denied the assertion that the
amount of payments by the Reilly bib did
rot equal the interest on the debt for fifty
years at pei cent.
Mr.. BeltznC over Pa) replied that the ef-
fe, of the pill was to extend the debt
fifty years. at , per cent, and release the
corporations from paying the principal.
The governments selfishness as a creditor
should not allow IL TO compound a felony
in its capacity Us a sovereign.
In reply to a question from Mr.. Black
(Ga.). Mr.. Reilly said that there was dam
ger that the government would lose every
dollar IL sOma adjustment was not made.
If this happened Corgress would De re-
sponsible.