The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1897-10-29
Built as a National Enterprise to
Develop the Country.

reached an arrangement, Other imam.
oiers were brought In. and the govern.
mont was offered ti5OgOOO for Its equity
In tho road Tho sum waA subsequently
raised 10 HS 7bi.Oi0,p9.
These negotiations. rnn"mbor. wer,
| GIih tho Cleveland admtnistrntion, Con.
greens had failed TO pass u refundlng bill.
Thcra was No pronpeat thai congress
] over would pasB ono, Anyone who knows
anything aisoui congress ana It's rc.a-
/ tons to this question knows II IL next
to tmlsossiico for mat body 10 achieve
any legislation concerning the Pacific
railroads II rho problem ever was 20
DO disposed ~ n would ha,yo tn b. done
by the executive. acting through tho
courts,
Ro whom tho reorganization syndicate
guaranteed q lid of nearly 100000 and
deposited tlt0o.o00 in osuh aA an earnest
of lilA god faith. President Cleveland
andN Attorney. General Harmon agreed
tho etpvornmsnt would permit thr road to
ho 80 y by tho coar This arraugvmse1t
did nbi preclude other ana higher bid.
dsrs In fact. tho publioi,y Of tho pro
oe.-tnga. the world wide advcrtiacmcn,
that tho property was 10 h. ss,ld 10 the
kghos, bidder wua an invitation 10 other
asibis investors.
And In truth, th,, ss,ic two weeks from
Tomorrow vii b. an opon one The
syndicate has No advantage whatever
I, has simply guaranteed tn govern.
mess that a dd of ti0. oo0. ON will bo made.
tho increase Of Va oncr from $1,000 90
10 rO0oo ooo bcinE due IN The nego,in-
tons OF tho Mckinley administration.
How about tho charge that the govern.
moni Is artuai1y giving away tw~n'y
millions of dollars To 20 into tho pockets
of the syndlcntr1 II n truo that the
government will not set inck nr the
r,nnoy q PIT into thr r,,ad bts, whether
or not tho syndicate makes profit upon
tho operation depends wholly upon rn
future Huccear Some profit 10 tho a.
rcri manipuiatora ~ tho deal thcre viii
bo ~ course. Thia N lncvitahl~. since
lawyers and brokers ami nnarciers arr
human aud Will not work without pay.
nut tho value OF tho securities ~ the
.V,Is - -.
after. and no man can forcsco what Y is
to be. Tho road is bankrupt Il Is IN
sosnc respects In had condition. Il may or
may M, become n good property
Tho main poin; IL thai che royernmca;
h doing tho b'vs, II can do, There ia no
other way w rixn, IL. winch tt ,oui1 10
holt~r nor na wcil bankrupt ran.
road, like any o,ip~r property. Is worth
jus, what II will bring and no morc.
Probably " ia exactly true that the only
men IN tho worfd who could take tho
property AZ tho prick offered are the
mcmtcru 81 this syndicate and those
thoy represent, Tho Government IL roal
~ lucky 90 Eo, out a. wei NJ q does. 10
cscnpc further ioaS and h. saved the
possible danger OF government owner
slhp
How much hna Il cost the people OF
the United States fo open M the wc~,
with this grat railroad. to create an
empire beyond The Missouri. 10 Join the
widely separated parts OF the Union
Very little. compared 10 the advantages
r,opch Thc government has invested
original subsidy bon,ia ..... .... .tsa,Ga. .Sis !
Interest on same to jan, I. 1897 SS.7is.S1s !
Total Investment .....,,.,,,,.,,, SO. 2S5.2l |
Repaid boy the road. In cash.
sinking fund and govern
mont transportation to Jan.
l. INT OBSERVATION-DISCLOSURES. .sSs, no, s2j |
Due the government ......... .SiS, 7iS. 100 |
II the syndicate were to pay the gov !
crnmcnt No.OooOo net FOR his equity. the |
public loss on tho investment made thlr- !
~ years ngo wouh he icv,s than stOOO.- |
ooo. hut tho syndlcatc's hid Il for the |
equity and the sinking fund. and as this |
fund amounts to about $4,000 OOo. the |
governments total loss on Union Pacific |
counting everything rs about se0ooooOo |
In q purely financial sense this ls not |
not loss, BEFORE the construction OF the |
Pacific railways the government paid !
sIoo0ooO ycnr for an army and navy |
and postal carriage to tho Pacific coast, |
whi|c the Union ana Central Pacific to- |
gcther carry everything for the govern |
mcnt nj q cost Of S2OOOOOO year. Con- |
tho vast lncrNasc Of government |
trafilc In thirty years. the building Of |
these roads must have saved an average
Of az least sLoO0OOO a. year for thirty |
years In transportation cost
When the people figure up what they |
have received for their S2O.O0O.O 900 they |
may not be 10 much dissatisfied after all. |
Thirty-three years OF agitation pre- |
ccded the turning OF the lrs. shovelful |
Of earth In the construction OF the Union
Pacific Railroad. Thirteen years OF de-
bato In congress- led up to the passage
Of the first bill under which the work |
was to he started. Three years Of more
congregational labor were necessary 10
produce law which would induce cap
Italists to embark upon what then was
to be one Of the mest glgan-
Ito endeavors of the ages For mora
than half century the road. projected.
building or constructed, has been lnh-
nately connected with the history OF the