The Kootenai herald. [volume] (Kootenai, Idaho) 1891-1904, 1895-02-02


Sixth-Import duties from countries
having gold standard to be payable
in gold or silver at the option of the
importer.
Seventh-Authorize the coinage of sill
yer and gold at a ratio Of l6 to l. to
the capacity of the minis.
The foregoing resolutions. coming
from a republican senator. and includ-
ing a concession to silver. attracted the
closest attention. Senator Henderson
asked the immediate consideration of
the resolution.
Senator Teller said this document was
rather obscured by the lecture the presi-
dent had read to congress. If" con-
tinued Senator Teller. I'VE had a presi-
dent who would take II men recognized
in financial circles into a room and say
to them: Gentlemen, the government
will make its payments in silver; now,
If you want panic, have it. There
would be no panic. The run on gold
would stop in an hour.
Senator Manderson's resolution was
referred to the finance committee.
THE POOLING BILL.
Senator Chandler introduced the fol-
lowing resolutions: Resolved That
the interstate commerce commission
be directed to send TO the SEN
ate a statement prepared from the lat
est returns to the office of the commits
sion, showing the capitalization of all
and each of the eight principal railway
lines between Chicago and the Atlantic
seaboard, showing also the proportion
which such capitalization bears to the
total capitalization of the railroads of
the last years gross and net income OF
said lines, also compared with the gross
and net income of all the railroads of
the United States.
Senator Chandler said this informa-
ton was necessary to understand the
effect of the bill recently reported from
the committee on interstate commerce.
He quoted the section of the bill allow
ing pooling and continued THE au-
thority given by this paragraph is stu
pendous. Under such authority all the
railroads in the country may pool earn
ings from all sources; they may virtu-
ally unite or form one company or part
nership with a capitalization equal to
that existing June 80, 1898, of 81 sos 1885,
410. The gross earnings of these roads
for the year wer S1,22O. ISL, S74, and the
net income, after paying the fixed
charges, was Sill ,058. 0S4. They may
agree to commit the disposition of this
gross or net income to a managing
board of 10, or even of three, officers of
various roads. This board can be given
authority and discretion to pay out for
the purpose of controlling legislatures
state or national, or other public officers
or for any other purposes, such portions
as they may see fit of the gross or net
earnings of this gigantic partnership
and afterwards to divide the remainder
of the net earnings among the various
companies. according to arbitrary fixed
portions of 100 per cent. of the whole.
The profits of the railroads manage
ment depends largely upon the rate of
wages paid. The companies may en-
| body in their partnership agreement a
schedule of wages for all classes of rail
road operatives, to be maintained upon
all railroads of the country. In short.
this $1,000, 900 partnership is given
unlimited power of railway cOnsOlida-
ton; all railroad competition anywhere
in the country is abolished by act of
congress, rates of fare and freights for
the whole country may be fixed by one
managing body.
I'm view of the attempt thus made to
create the eleven thousand million road
monopoly, with unlimited power to fix
! railroad rates and the wages of rail
roads, feel it my duty to endeavor to
| secure certain amendments" The sen
! ator then read the amendment he offer
! ed in committee which he has since
proposed. He then said he could see
no reason for the rejection of the
amendment. holding that if it is intend
| ed the interstate commerce commission
shall make an investigation the prom
| Use is a fraud and a deception on the
people,
Senator Chandler announced his in
tentiOn to offer another amendment
as follows:
Every such contract shall contain
a stipulation binding each party there
to in case of differences or controversies
between said party and its employees, tC
submit the same to arbitration if such
arbitration shall be proposed by said
employees, under the law of October
1885, creating boards of arbitration for
such causes; provided, however, that
by mutual agreement the interstate
commerce commission may act as arbi-
traitors under such law, with the pow
ers given thereby. To omit to adopt
this amendment will place $3.50 rail
road wOrkmen of this country under
the iron heel of as merciless a tyranny
of employers as the world has ever seer
under taskmasters since the days OF
! PharOah."
He was willing at a time when tn,
railroads of the country were sufferins
under universal depression to vote FOL
any legislation to which they wer,