The evening tribune. (Pawtucket, R.I.) 189?-190?, 1897-01-11
FATE or FUNDING BILL.
House Will Vote on Measure Today
Under Special Order.
Means Settlement Of $112,-
100000 Debt.


Washington, Jan. 1l.-Today will de-
eide the fate OF the Pacific railroads
funding bill. which will be voted on In
the house. under special order.
The bill involves the settlement OF the
$ll2.0OO,000 OF Indebtedness Of the Union
Pacific and Central Pacific on the basis
OF an extension Of over 80 years at per
cent, with an annual extinguishment
payment on the principal at the rate OF
336b,0O0 for the first 10 years, $780, 900 for
the second 10 years. and $750.0O0 for the
remaining years. 1t involves. as the al
tentative OF its defeat, the probable i'm
mediate foreclosure OF the governments
lien and the sale of the property.
1t Ia the elimination Of the struggle
which has gone on in congress for a
dozen years, to set IRE some sort of an
adjustment Of the Pacific railroad in
debtedness on the basis of an extension,
as II has been apparent for q long period
that the roads would default when the
bonds matured. The interests at stake
are gigantic, and the friends of the bill
are straining every nerve. The oppo-
nents OF the measure are also active, and
the result Is awaited with intense inter-
est. Each side claims IL will be victo-
ricus today. Both sides have made polls
Of the members, upon which they base
their claims. Before the final vote Is
taken on the bill, the Bell and Harrison
substitutes, both of which are pending,
will be voted upon. The former provides
that IL the Union Pacific and the Central
Pacific will discharge the first mort
gage indebtedness Of SCI ,000, 900, so as to
advance the governments lien TO a
first mortgage, the government will
agree to the extension Of the debt at Il
low rate Of interest. The Harrison sub
sutute provides for the creation of a
commission consisting Of the secretary
OF the treasury, the secretary of the in
terror and the attorney general, fer the
settlement of the debt on a basis fair to
the roads and just to the government.
After the funding bill is disposed of
the house will proceed with the consid-
Grafton Of appropriation bills until Sat-
urday, which will be given up to eulogies
on the life and character and public ser
vices OF the late ex-Speaker Crisp.
The Indian and military appropriation
bills are on the calendar, and before they
are disposed of the agricultural bill will
be brought on.
The course Of the senate this week will
depend largely upon whether the Pacific
railroad funding bill passes the house
and whether Senator Cameron will call
up his Cuban resolutions.
Mr.. Cameron's friends expect that he
viii be In his seat today. and that
when he returns he will indicate his de-
sire as to the resolutions on the Cuban
question. II he decides to press the reso-
lutions. there will be determined effort
to aid him In this direction. but In any
event there are likely to be few
speeches on Cuba.
Senator Mills has announced his pur-
pose to address the senate on the ques-
ton today. and IL IL understood thae
Senator Davis Is preparing q Cuban
speech.
The Pettigrew free homestead bill Is
expected to reach a vote today or tomor-
row, and 1t is to be followed by the Pa
cific railroad bill, If the latter bill passes
the house.
Senator CuIlom, who will have charge
of the legislative, executive and judicial
appropriation bill, said yesterday that he
expects to be able to report that measure
BY he middle of the week, and that he
will ask the senate to consider it as soon
as reported.