The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-02-03

tenant general met with sonae cppo-
tsson fron Glisezte. but il was passed
The purpose Is 10 authorize the pro-
znoeioa OF afas. Gen. Schofesd 10 that
rank
The house fhen proceeded In commit
tee OF the whole IN special order 10
consideration Of the Pacific railroad
funding bin. An attempt was made
10 secuge an agreement TO continue the
general debate until 2 o'clock. but il
failed, and the fall was read fDr amend
r.eat under the fye~snfnute rule. Bcxf-
ner. Dem, Losiisiana, declared that
some sections OF the bill were faulty.
and In his opiaion u the companies had
flied their written acceptance Of its
conditions. the hands OF the govern
ment would be tied up for fifty years.
Hepburn. Rep. Iowa. contested this.
pointing cot the language OF the stipu-
sation. ard the compulsory payments
the bsIi enjoinesf on the companies.
An amendment was adopted making
the debt due the United States bear
per cent. interest.
Mcguire. Dem. Cal. challenged the
statements OF Kyle. Dem. AIiss, that
the bin authorized the government 10
retain In the treasury all moneys due for
mail transportation and apply them to
extingu.shnieut OF the debt.
Grosrenor paid a high tribute to the
late Senator Ssa,aori Admitting fraud
In the past. ne coateaded that Il was now
tho duty of the government 20 ADJUST
this debt. 50 that Il could realize as much
as possible
Mcguire denoanSed histerly the method
pursued in this dkhate. which nad pre-
ciuded from part4ipatson. except under
the nye-uiinute rit3e, the mempers from
the Pacific coast. who had given more
attention to the nKatter than any others.
He maintained thak The pending bill con-
tanned no provision for payment OF the
debt, but tt$tiid discharge all the debts
Of the iacorpora test pirates, who Rad raid
ed the treasury OF the roads during the
last thirty years. A long controversy fol-
lowed over the question whether the biii
would extinguish the debt In Atty years.
Reilly, standing close 10 Brecixinridce.
Was so emphatic in his gessiculatioas taat
some members crowded about the galier-
les craned their neeks, thinking they
We're to witness repetition OF the Brsck
inridge-Heard row yesterday. AT his
point an attempt was made to stop tia
debate until Monday or Tuesday. The
leaders of both sides. agreed that IL was
necessary to an Intelligent understand
Ing OF the bill but Lane objected. and
Lockwood demanded the regular order.
Mcguire accordingly proceeded. devat-
ing most Of hi time to discussion OF the
alleged frauds by which he claimed Hunt
ington, Croker. Stanford ana Hopkins
as directors. turned over to themselves
as stockholders So. 100000 of profits. The
time was at band when these men a..
their estates could be- reached. Fifteen
millions OF HuaaingTon's money and sls.-
eoe,oVo OF the estate OF Leland Stamford
couid be secured, and s15.o00, ,oos of the
estate OF Stanford were now tied up 70
satisfy statutory obligations. The main
object OF this bill was to release the
property by operation OF law.
Weadeck. in reply. reiterated The as
sertson that the bill veserved all the
rights and remedies against ts.s ..b1r
four" The bin. he said. presente,, :
reasonable and business-like method OF
collecting the debt due from the reads.
Terry offered an amendment requiring
sne holders or the first mortgage bonds
to waive their nriSSszy In favor of the
United States. when the companies made
provisions for the payment OF the first
mortgage bonds. as required, before the
companies shall have the benefit OF the
act.
Reilly denied the assertion that the.
amount OF payments by the Reilly bill
did not equal the interest on the debt
for fifty years at per cent.
Behzhoover replied that the effect OF
the bill was to extend the debt fifty wears
q per cent and release the CORPORA
'tions from paying the principal. The
governments seifshness as a creditor
should not allow Ii TO. compound a felony
an its capacity as q sovereign.
Lacey offered an amendment to that OF
Terry. requiring the written consent of
holders OF the first mortgage bonds TO
the conditions imposed by the govern
ment.
Swanson called attention to the fact
that the stock OF the Union Pacific mad
risen si.5e a share since the debate be-
gan. on the prospects OF the passage OF
the blu. The third and fourth mortgage
Indebtedness also had value, yet 1t was
admitted that the stock would not be
worth a farthing IL the governments
mortgage was foreciosed. What did this
mean? Only that this bill would in so,ne
way permit the roads TO avoid their OBJ
legations. The amendments OF Lacey ana
Terry were host
Hudson said that II this bill were pass
el, congress would go down TO history
as q ''bocdle'' congress. influenced by
corporations and under the domination
OF the money kings
Cannon favored the bin because Il Of
fered sfo.ooc coo guarantee that the road
would live UP to its conditions.
NcRae. Ark, favored an amendment
providing that no dividend should be raia
20 ths stockholders until the entire deb.
was discharged.
Maguire presented TO she holfs. the con-
current resolution protesting against the
passage OF the fu1pitng bill assonte5 ~
the California legislature.
HephlrTS challenged the good faith of
the California pecpie. In support OF his
statements he produced a telegram sent
by Mayor Srtro II the r~ezgkfsfat. whsSsa
said aiStory would record Cleveland as
the great tsenefaessr of the human race Il
sSe woald seni a spsctai message to cors-
g-SSs Recommending tire foreclosure Of IRE
F'sScisic railways nlossgages. The ,ale-
E-asn added that the esverngment Ought
ase.t 10 operate tire rra<ks. f.st ss-slfa hgssss
tassn as a great nntsesnas highway on
wtaJch a1a ATnegscaz rga1s could sygn
trains The Pacific caase, Hepburn cos-
tended. opposegs the bill In rs oaru xsFash
tnfeTSSS.
Mcguire oGerssa an aRaengiraent co Nc