The times., 1897-07-22

illustrates an aggressive foreign policy,
and a desire To pick a quarrel with some
body, and all the rest Of it. Is not this
sort of thing becoming trfle moDotonous?
Exposure of a National Robbery.
The thanks OF the country are due to
Senators Morgan and Harris for their ex
posure or one of the most corrupt and
rascaEy administra tive Jobs that the
history of this nation GiseIoses. Perhaps
the connection tetween the AdmInistra-
tions OF Cleveland ana Hanna, through
the people onG interests identlcaIly con
trolling both, could not have been more
forccfuIy and fearfuIiy Illustrated than
In the determination OF the present Re.
publican magnates to carry cut the Pa
ciric Railway steal, conceived and all
butperpetrate,i d themselves under theIats
regime.
The crime referred TO and attempted
is Of simple proportions and easily ex-
pIainahe. II consisted, and still con-
sSts, OF the proposition 10 turn over tie
Governm ent's interests in and control
Of the Union PaCific Railway to what is
euphoniously called a reorganization
committee" The constitution OF that
..ccrninittee," for advertising purposes, is
a matter Of public record. It's real compo
ition would not be complete without adding
suInabiy representing the rights and in
terests OF the American people in the
premises, bat who in common with the
other committeeman. are booked To come
in for division OF the stolen millions. in
case the scheme Of national high way rob
berry can be consummated
| In brief, this Is what is proposed. The
! Government Is to turn over its interests,
! privileges. and rights IN the UEion Pacific
! railway Cor s2S,0i5.s50 TIE net dehe
! Of the company 10 the United States, on
! the day OF tie deal, was 1927 So, %.
| Nominaliy, the reorganization committee
is supposed to bid SIS 54o59 for the
] UEpltil III Af.tI it uoCS bbti4ibE va tuS
/ kind There ia a sinking fund in the
! hands OF the Government, aggregating
SlZ,73e, ,20s. which in settlement be-
longs TO the United states as against It's
claims on the subject matter 1t is pro-
posed 90 give the reorganization com
ndttee'' credit for, or rather free gift os
.t.;-..,r, g. r,,al-o ,,r, IL, hid l,gc4z a5a
SO the whole business, as stated, is to be
handed cut to the combination of Wall
street 'reorgauizers,' anu corrupt public
servants aud cx-servants, for the struck
sum of SIS, ,O1 $3.50.
The unmterable perfidy of this project
is as PLAN as the nose on mans face
| people in public life whom we will not
designate at this moment. has arranged
TO reorgaDize and recapltaHze this prop
| erty, which Is TO cost them a trifle over
! S28 400 900 a 5 follows: They viii issue
500 eco 900 OF / per cent bonds, SCI.
| GOO 600 OF Common stock, and ST 5,000.-
coo OF preferred stock This property and
| franchises, amounting to sci ,0O0, 900 in
| eli, including the assumption of first
mortgage lien OF $4,000 900, they win
Capita HE at $236 900 600 There is not
a shadow II doubt that it is worth and
win pas the fixed charges on the $780,
600. 900 bonds and the 81 ). 600 900 pre-
ferred stock Under good mana cement
and in better times it would pay divi-
dend on the common shares as wen Con
seqlently the profit of the combined Wall
street and governmental plunderers tactive
or retiredl would be at least the differ enea
between the SCI 900, 600 paid and ass,m-
ed and the sum of the bonds and pre-
ferred stock. That would aggregate al
immediate profit and plunder of Sill,
600 900.
Does anybody wonder that the efforts
of Sena tors Morgan and Harris to ex
pose this gigantic scheme OF robbery are
opposed and ohstructed by every device
known to parliamentary practice when
backed 10y d desire to loot the nation
of $4,000 600?
It should be borne in mind that the
gentlemen ostensibly Included in the forma
ton of this reorganization committee are
all sound money men," were all muet
interested in the election Of Mr.. Mckinley y
and are earnest supporters of the Hanna
Administration. By carrying out the Sc
cret Cleveland Union Pacific deal. they
and their coparceners who pose as some
thing else, would be benefited in the ooIos
sal surn named, and some more campaign
debts would be wiped out.
But Will the country stand it?