The herald., 1896-01-30
THE FUNDING BILL CONTEST

The chances for defeating the Pacific
railroads funding bill can hardly be
termed fiatteriug according to the tel
egraphic news published in The HER
AID of yesterday. 1t rather seems
probable that funding measure not
30 favorable in all respects to the rail.
road people as the Reilly bill, but
due the government, will be enacted.
This result, so contrary to the wishes
of apparently majority of the people
of California. will, if it comes about, be
produced by combination of causes
plainly apparent
TO begin with, it must be remem-
bsred that the people in the eastern
states are prone to consider the matter
of adjusting the Pacific railroads in
debtedne5' from point of view en-
tirely dissiailar from that of the Cali
fornian Not having been made di-
rectly the victims of Mr.. Huntington's
monopolistic and arrogant railroads,
they have no feeling which would lead
them to eye with suspicion or hostility
any suggestion for continuance of
the railroad debt that "Uncle Coils"
might make. They undoubtedly con-
slider that they are viewing the propo-
sition in business light, and to them
it does not seem good business sense
to forecloss on the delinquent rail
roads and take them in for debt that
is considerably in excess of the
present value of the roads, when by de-
ferring the payment of the debt for
another fifty or one hundred years the
government might obtain the whole
sum of principal and interest. Besides,
they bear in mind that if the govern
ment forecloses it will have to pay ont
in the neighborhood of $60,000,000 to
the first mortgages, and they feel that
that is step that should be deferred
as long as possible.
Now all this may be very fallacious
and insufficient to the people of this
side Of the union, but it is the opinion
the eastern public has and that will be
represented in the action of the major
portion Of the eastern congressman
who vote in favor of a fund
ing bill. MIR. Huntington, with the
signal ability as high class lobbyist
that has ever distinguished him, will,
of course, cultivate and develop the
opinion entertained by the east regard
ing the advisability of extending time
concessions to his company. The re-
marks made Tuesday before the COM
mittes on Pacific road, by Francis B.
Thurber, representing the national and
New York boards of trade, are fairly
indicative Of the way the people east
think aoout what the course of the
government should be.
Two elements in the cam paign waged
by this coast against the funding bill
have had the effect OF prejudicing other
than western congressman in favor of
the mea3ure. One element was in the
suggestion that wher the government
foreclosed its liens it should take pos
session aud operate the railroads. This
in itself is suffi ;ient to array in
support OF the funding bill host of
congressman. The operation of rail.
roads by the government is state So
cfalism pure and simple, and though
the American people have done much
that is socialistic in the past, they have
done so without intending TO subscribe
to socialism aud without realizing the
Significance OF their actions. But the
socialism OF government operation of
railroads is too apparent for a majority
of the people to rush preciptately
into. The stronger the talk INDUCED
in about the government running the
Pacific railroads after the liens had
been foreclosed, the better have become
the chances of a funding bill. To q
multitude Of people, not alone in the
east, but all over the country, the
contest to foreclose begins to look
not like a battle to secure for
this government it's dues, but an effort
to establish an obnoxious principle oil
governmental action. II the cause of
for sclosure could be kept free of
sooialistic possibilities it would be
vastly stronger. II the government
does become possessed of the roads, it
is not necessary that it operate them;
they can be sold at public sale, or the
government can maintain them as high
ways and permit them to be used, under
proper conditions, of course, by any
company or individual desiring to ope-
rate railway trains.
The other element in the Pacific
coast Fight against the bill is Mayor
Sutro of San Francisco. This indiyid-
ual, who is alternately fool and q
demagogue, with erratic end spectacu-
lar methods of favoring or opposing, is
too burdensome for any cause. no mat
ter how just, and there is little doubt
about intelligent eastern congress-
men eyeing with distrust any