The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1895-02-01
mr.. REILLY is Blue.
Continued from First Page.

who have grievances against the roads, or
certain former officials OF the roads, who
were correctly or incorrectly supposed to
have protited enormously by their con-
struction.
In response to a question, Mr.. Powers
said if the mortgage of the Government
was foreclosed, the property would cost
the United States s1s0000,Ooo, and he ex-
pressed the opinion that the Government
would not after the endless litigation when
would follow, realize $1000O,000 from the
property.
Harris (Pop.) of Kansas begged to re-
mind the House that six years ago Jay
Gould had offered sos ,000, 900 for the Union
Pacific section alone.
Mcguire of California presented to the
House petition signed by 100000 persons
against the bill.
Cooper of Wisconsin denounced Powers
He said: "The gentleman from Montana
(Powers) in labored commentator of the
bravery of these railroad promoters and in
extenuation of their guilt has recited their
hardships and the great financial risks they
assumed The Pacific Railway Commits
sion reported that the Central Pacific Rail-
peculiar features except at the American
River bridge Over the mountains they
were allowed $4,000 per mile, and on the
other portions $50, 900, and go 800 repre-
Sents the average cost of construction except
under peculiarly difficult circumstances.
Stanford acknowledged that they had
ample means from the sale of bonds with
out putting up money of their own. What
about their bravery and great hardships?
Would not 5000, 900 apiece amply compen-
safe them? Neither Stanford nor Hop
kins nor Huntington did any shoveling.
Croker did not shovel, except with his
pen, then he shoveled gold out of the
assets of the company. Are they entitled
to any credit for their embezzlement,
fraud and perjury?"
Van VOORHEES, of New Y ork, interrupting
said Cooper had charged Powers with sup
porting 'trick."
Cooper disclaimed wishing to be I'M
parliamentary. ''Many an honest man
has supported an unworthy project from
the best of motives" said he.
Van Voorhees, suppose they are all
fools but you.
II think your heart is all right, simply
appeal to your intelligence" said Cooper.
eve must carefully examine every word
of this funding BILL because there is not
syllable that has not been weighed and re-
weighed by the railroad officers and the
men enlisted in their service. Every line
has been scanned with a vulture's eyes.
The bill declares that nothing in it shall be
held to deny, exclude or impair any right
or remedy in the premises now existing in
favor of the United States; but the United
States could not bring an action against
these roads, because the Supreme Court
has decided that it cannot be done until
the bonds have matured and the roads
have defaulted. Section Ia provides that
the Acknowledgement shall bring these
suits. For whom? For the said COM
pany,' according to the terms of the bill.
And it authorizes the Attorney-General to
bring a suit that cannot be maintained.
at appears from the report of the COM
mission of 1887 that Huntington, Croker,
Stanford and Hopkins voted themselves
$13, 100000 apiece, while putting into the
company's treasury but 100000 in cash,
and from 1874 to 1884 voted themselves
$34, 000 900 in dividends. The commission
says honorable men would have defended
themselves against suits brought by Lam
bert and Brannan and others, but they
compromised, paying them five and ten
times what their stock was worth. Now,
as to these present innocent stockholders
of the Pacific roads, the records of these
companies have been open to the public.
These innocent holders knew the condi-
tions They took stock cum onere. Shall
we condone the offenses of the fraudulent
officers and directors because they are rich
and have men of influence back of them?
"Then what shall we say to the farmers
and miners along these roads, who pay ex
tortionate freight rates so that the compa
MES may pay interest upon capitalization
which embraces $170, 100000 OF fictitious
capital? Are we to legislate as statesmen
or as collectors of bad debts? Laughter.
Avarice was the god which led to the
wrecking of those roads. Is avarice to be
the god of this republic as represented in
its Congress? Are we to fall down and
worship the golden calf and sell our man.
hood for gold? These men are called great
financiers.' Financiers, indeed There
are different kinds of fnanciers. You re-
member what Webster said of Hamilton:
He smote the rock of national resources
and abundant revenue gushed forth. He
touched the corpse of public credit and it
sprang upon it's feetP These railroad
'financiers' smote the rock of their resour-
ces and abundant streams of revenue and
gold poured forth, and they carefully
turned all the streams into their own peck
cts. Laughter They touched the living
credit of their corporation and it fell
corpse at their feet. Great laughter
There is distinction to be noted between
the two classes of fnanciers. Renewed
laughter.
"Less than six weeks ago majority of
the Pacific Railroads Committee agreed on
some of the provisions of this bill Then
you induced the Rules Committee to say
that this important measure should be put
to vote, after a general debate of four
hours, and a rambling, incoherent, slip
slop, hop-over-the-fence, fve-minute de-
bate lasting one day." Laughter
Cooper concluded with an earnest pro-
test against ''railroading" such important
legislation through Congress when no
emergency existed, and when he took his
wit boo, w.,