The herald., 1896-12-23

coast by this gorgon of monopoly. He
believed the pending funding bill should
be recommitted to the committee and
q more adequate remedy presented. The
Union Pacific had enough in its treasury
to pay the interest on the first mortgage
bonds and yet it came to congress as a
bankrupt and mendicant, asking for
pity. 1t was only paying interest on It's
own bonds, but it was paying dividends
to British bondholders. Three roads
were pursuing what had become fixed
policy in railway management in the
United States-the running down ana
wrecking of railroads in order to manip
ulate them.
Vest of Missouri. Democrat. inter-
posed at this point with a question as
to the meaning of the president in his
recent message, that unless congress
acted on this Pacific railway question
the executive branch would act by Jam
uary 1st.
Mr.. Morgan gave a deprecatory ges-
ture and said: Now in all Egypt there
was only one man, and he was divinelv
inspired. who could interpret the dreams
of Pharaoh. The senator ought not to
ask me to interpret the presidents mes
sage. If any man is capable of inter
preting that message it is the senator
from Missouri. I am not stopping to in
terpret the message
Aui- vest, With the message IN ndDi,
desired more exact answer and PRO.
ceeded to read the presidents words.
put he was cut off amid laughter by Mr..
MorganS earnest remark: Il wish .ha
senator would not bother me with that
message"
Mr.. Morgan proceeded at considerable
length, urging that it was of supreme
Importance that these roads should not
lail INTO private hands, particularly tha
hands of foreign bondholders. 1t was
coming to the point that an American
stockhoIder in an American railroad WA G
a curiosity who ought to be put In a
sideshow
Mr Gear quickly interrupted citing
the instance of an American road 1000
miles long, not only owned by Ameri-
cans, but by American women, who held
a majority of the stock.
Ana who owns the bonds?" inquired
Mr.. Morgan. SHOW me the man who
holds the bonds, and l will show You who
controls the road"
1t was but few minutes before the ex-
plration of the morning session when
Mr.. Morgan closed
dear spoke briefly. urging speedy ac-
tloil on the Pacific railroad question and
saying he would seek to secure some
headWay immediately after the HOLIDAYS.
lie announced that If quorum Of the
senators was here during the recess
meetings would be held to inouire into
questions which had been raised.
Pettigrew's resolution was then re-
ferred to the committee on Pacific rail-
roads.
Call of Florida, Democrat. secured the
adoption of resolution requesting tha
secretary of state for information as TO
the killing of Charles Gavin, a United
states citizen, in Cuba. He read a let
ter from Mrs. j. NJ. Gavin, mother of the
deceased. appealing for an inquiry and
saying that her son had been hacked to
pieces" by Spanish soldiers.
After passing several private pension
DIS the senate at 2:3S p. m. Went into
executive session. which lasted until 3:05
and then adjourned until January 5.
1897
THE RAILROAD DEBT.
WASHINGTON, Dec. 22.-The secre-
tary of the treasury has sent to congress
computation of the Pacific railroad
debts as made by the government actu-
airy. The statement shows that the ad-
vances to the Union Pacific, including
the Kansas Pacific. by the government
will at maturity. the 1st of next July
amount to $92. .S46 2S5, of which sufficient
has been repaid to reduce the amount to
$53,2S9,5 593 The balance due on account
of the Central Pacific on the 1st of July
next will be $50, ,91S,370.