The Roanoke daily times. (Roanoke, Va.) 1895-1897, 1896-12-08


the amount already matured. moro than
Sl3O00000 of the principal of the subsidy
bonds issued by the United States in aid
of the construction of the Union Pacific
railway, including it's Kansas line. and
more than S5, 100000 OF like bonls is.
sued in MD of the Central Pacific railroad.
including these issued TO the Western
Pacific Railroad Company, will have
fallen due and been paid or must ON that
day be paid by the Government with
out any reference to the application of
the sinking fand now in the Treasury,
this will create such Il default on the part
OF these companies to the Government as
will give it the right to ut once institute
proceedings to forecl Dse its mortgage lien.
In addition 20 this Indebtedness, which
will be duc january |, 1897, there will
mature between that date and january
l, 1879, the remaining principal of such
subsidy bonds, which must also he met
by the Govcrn;nent. These amount to
more than $50, 600, 900 on account of the
Union Pacific lines and exceed S21 600,
coo on account of the Central Pacific
lines. The President is charged with
the duty, in the event that any mortgage
or other incumbrnnce paramount to the
interest of the United States in the prop.
erty of the Pacific railroads shall exist
and he lawfully liable to be enforced. to
direct the action of the departments of
the Treasury and of justice in the proteC
ton of the interest OF the United States
by redemption or through judicial pro.
ceedings, including foreclosures of the
Government liens. | have thus far felt
justified in withholding action under the
statute abov" mentioned in the case of
the Union Pacific Company. However.
the situation has become especially and
imme Eiatcly urgent PROCEEDINGS have
been instituted TO forcclose first mort
gage upon those aided parts of the main
lines upon which the Government holds
Il scconl and subordinate mortgage lien.
In consequence ri these proceedings and
increasing complications, added to the
dcfault occurring on the lst day of Janu-
AIRY. 1854. Il condition will be presented
AZ that date, so far as this company is;
concerned, that must emphasize man
date OF TIE act of 1887. Therefore. I'm.
less Congress shall otherwise direct or
shall have previously determined upon II
different solution of the problem, there
will hardly appear to exist any reason
for delaying beyond the date of the dc
fault above mentioned such executive ac-
ton as will promise to subserve the pub
lie interests and save the Government
from the loss threatened by further in
action.
Tho Farmers Friend.
The Department OF Agriculture is so
intimately related to the welfare of orr
people and the prosperity of our nation
that it should constantly receive The care
and cncouragement of the Government.
From small beginnings it has grown to
he the center OF agricultural intelligence
and the source of aid and ENCOURAGEMENT
to agricultural efforts. Large sums of
money are annually appropriated for the
maintenance of this Department, and ii
must he confessed that the Legislation
relating TO it has not always been directly
in the interest of practical farming or
properly guarded against waste and ev.
trlvagance. So far, however, as public
money has been appropriated fairly and
scnSibly to help those who actually till
the soil, no expenditure has been more
prolitably made and more generally an
proved by the people. Under the present
management OF the Department its use
fulness has been enhanced in every dlirec-
ton, and at the same time strict economy
has been enforced Ito the utmost extent
permitted by Congressional action.
From the report of the Secretary it ap-
financial management he has annually
saved n large sum from his appropri;l.
tions. aggregating during his incumbcn.
cy and up to the close of the present fiscal
year, nearly one-ffth of the entire amount
appropriated.
These results have been accomplished
by Il conscientious study of the real needs
oil the farmer and such IL regard for econ
omy rs the genuine farmer ought to APP
preciatc, supplemented by Il rigid adhcr
ence to civil service methods in Il DEPART
mcnt which should he conducted in the
interest of agriculture instead of partisan
politics.
Farm Exports.
The Secretary reports that the value OF
our exports Ct farm products during the
last fiscal year amounted to 500, 900. 600,
an increase of SIT, 100000 over those OF
the year immediately preceding. Tha
statement is not the less welcome because
OF the fact that, notwithstanding such
Increase, the proportion of exported agri-
cultural products to our total exports of
all descriptions fell OF during the year.
Tine 3encfitS of an increase in agricultural
exports being assured, the decrease in its
proportion to our total exports is the
more gratifying When we consider that it
is owing 10 the fact that such total ex.
ports for the year increased more than
SO, coo, 600. The large and increasing
expectation of cur agricultural products
suggests the great usefulness of the or
ganization recently established in the
Department for the purpose of giving to
those engaged in farming pursuits reli;l-
hie information concerning the condition,
needs, ana advantages, Of different foreign
markets.
lnnsmucl a the success of the farmer
depends upon the advantageous sale of
his products and inasmuch us foreign
markets must largely he the destination
OF such products, il is quite apparent