The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1897-12-17
KANSAS PACIFIC roRpcLosuRE,

KANSAS PACIFIC FoREcLosURE
The overshadowing iPoryance OF other
subjects which CONSTITUTE the leading fea'
t,u~s Of President McKinley's message
should not be permitted 10 divert attention
from that portion Of the document which
treats Of the interest OF the government
I'm the approachin sale on December 1t
Of the kansas Pacific railroad under the
decree Of foreclosure. says the New York
Tribune. BY fortunate turn of evenSs
the government vas enabled TO realize
the fun amount OF its claims for the
principal and interest OF the subsidy debt
due from the Union Pacific at the SAFE
OF that property under foreclosure pro
ceedings last month. II has been objected
to that trasacdon, and perhaps properly
that the government. in dealing with the
reorganization committee - which had
raised the money and taken all the steps
preliminary 10 the purchase. under an
explicit understanding with the govern
ment's resentauves-indulged in SHARP
practice WHICH would have subjected in
dividuals or corporations in similar cir
cumstances to censure. But the natioua
treasury being the gamer thereby the
public as the beneficiary in the end was
more inclined to congratulate itself upon
the advantage than to criticise the pro- !
cess by which it was gained However /
that may be- the transaction is now closed I
and that special phase Of a troOblesom, 1
complication, involving great possibiI /
ties OF mischief terminated.
In the pending foreclosure sale OF the
Kansas Pacific. however. question OF
precisely similar character is presented
in the solution OF which the danger and
risk of & wild venture upon new. un,riej
and practically revolutionary policies are
no less involved. The question. in its
simplest form. is whether the government
to avoid a loss OF portion Of its invest
ment in this SUBSIDIZED road. shall as.
sumo and pay the prior lien Of over 81
10000 and thereby take possession Of the
property and undertake hereafter TO con.
dutc its operations and manage its ar.
fairs. To the active and talkative poliJ.
fcai schemers and dreamers who include
government control and operation OF ran. &
roads among their plans for bringing r.
the millennium. the ownership Of the Kan.
sas Pacific does not present nearly sc 7
many attractions as did thar OF the Union
Pacific. The latter was main line with
terminals and established connections
which might easily have been made the
stepping-stone 20 "a great government
transIcontinental road. The Kansas Pa.
eific. on the other hand. so far as IN.
subsidized portion. about to be sold under
foreclosure, IS concerned. is only frac.
tion Of a road. with no Western, terminal
ending abruptly at a mile post on ar a
open prairie. Its possession would be-
worthless without the expenditure d
large sums TO establish connections anc 7
purchase terminals. 1t is already par b
alleled to a considerable extent. and com.
peting lines would find it an easy matter
TO complete the parallel for fts entire
length. These disadvantages. however
do not disturb the popuists. who are $
clanorous for government control. at nc Il
matter what cost to the natlonal treasury. i
The upset price for the property. or the :,
subsidized portion, as fixed by decree Of Il
the court, will yield to the government
s2,5OOOOO on its claim Of nearly $1,000
OOo The president announces in his mes. y
sage that in order to prevent loss 10 the
government he has Instructed the secre.
tary of the treasury to deposit sun +,
sufficient to qualify the government as d
bidder, and "to bid at the sale sun II
which will at least equal the principal :
Of the debt due TO the government" butt
he asks, 'in order to remove all contro
versy that an amendment Of the law BE-
Immediately passed explicitly giving such
powers and appropriating in genera
teoms whatever sum is sufficient there
for" Such an authorization ought GER
tainy to be had before any steps be taken
by the representatives. of the government
IN the direction Of ownership and opera.
ton Of railroad property. That action
would be only the entering wedge for the
Of a radical-if not indeed, rev
olutionary-change in our traditional pol.
Icy I. is quite possible that the step
already taken in making the deposit nee.
sssary TO qualify the government as
bidder may be simply for effect upon the
Union Pacific committee or other bona
Hde bidders, and it is possible also that It