The Caucasian. (Clinton, N.C.) 188?-1913, 1897-07-22
WASHINGTON
LETTER.
Three Very lnpsrsaas Msasur.s
Cessidsrsa-ns Pseise Rail.
rod up In rhs Senate.
4 MOST GIGANTIC STEAL.

rue0 up u Ioo senate.
A MOST GIGANTIC STEAL
AAuesss~sss - sAsas-vAs As--s S.ss.
evsses 0sV>~s ~ psssss ss.s~..
ess>s nsn- ssss>ss 80 ~ s-..s g.
sssss ossssssssy-sSs Vs.a e -.
rssss sosssssssssc>essss sss ss.s-
- sssss s~sss sy~ss ssu sNs,>s.s.A.
sv-u.ai 10 rhs Cssu.-asn.
WAsulssrox. u. e. Jaly IA
while the tar,a ball has ksss an Can.
grsss the 6essis kas hsss dsslss
vith soes ioportsat asiisrs Fsrss
the Iseeisney Appsopsiassoa ball
vas s'kss ap. This bill essssissa
. parsgraph providing scs pay ssss
sos Tor 500 steel aruos plate for
the three battle ships nes lsirr
eousfrac.~d. The eoeu,ss~s on
naval ss.irs by . ssj ,si'y vote
recommend that the govcs q usat pa,
this enormous price on the xsouss
that the Csrssrie aud other arusr
plate factories vosld not furuish a
Tor less. Senator's Batter and Til.
man fought this IN the con mi,,ss.
but they vere out-voted.
When the matter came m in The
senate, IN aoerdment vas offered
by Senator Baiier TO m duee the
price 10 $50 . ton. and To instruct
tho Secretary of the Navy 60 take
steps 10 build . eoverpmeut aruor
plate factory. a. these firms would
not furnish u for that price. Hs
shovs that all the armor plate com.
pAuiss OF America and Europe we're
IN . trust, that it cost only about
f225 ton TO furnish the armor. and
that. therefore. there Vas q profit of
ts5 ton at 400 He showed that
II we paid $s2s . ton saat IL would
DO . gift OF sl 500 000 20 this trust.
and that the government could build
its own factory for that amount.
Besides. he showed that o great deal
Of the armor furnished in the past
by this trust Vas defective. and,
therefore, our varships we're liable
TO be sunk by the frss shot from the
enemy. He said that the govern
mens should make its own armor 20
guarantees that our varships we're
frst-class. Senators Teller. Till
man and Others supported the
amepdmenf. IL Vas adopted after
an all day hard fight. The Hou.s
concurred in the amend meut after q
bitter fight.
A MOST GIGANTIC STEAL
The next important matter taken
mp Was the Pacific Railroad resoiu-
tion Of Senator Harms, Of Kansas.
As is we'll known the governnept
furnished TO . company every dollar
OF the money used in building the
Union Pacific Railroad, aud then
took . mortgage on the road for the
amount. Later, this railroad com
pany managed TO lobby through
Congress . bill allowing the com
pany 70 borrow money on the road.
and making the governments mort
gage second mortgage. The gov
erument's mortgage is nov due. and
the road has never paid one cent OF
the principal or interest due, though
Huntington and all the mauipulators
Of the road have made themselves
millionaires ont Of the use OF the
governments money.
The amount Of the first morteaee
on the rosd IN. in round numbers,
$33. 600 900; the amount Of the gov-
erumsnt's second mortgage il &5J.-
OOO. 600. Nov the President has
made contract With certain capital
ISIS TO sell the eoverpmept's interestin
the road for IS ,000. 900. which is .
loss 10 the government Of over s25.-
O0O, 900. This deal 10 Dow being
negotiated in spite Of the fact that
the road 10 worth more than twice
the amount Of the indebtedssss Of
the road, iseludipg frst and second
mortgage. Would any san, man
scale down and take half Of has
mortgage On . piece Of property.
when the property Was worth mor~
than ell the membranes on IL ?
Certainly not This 10 not the worst Of
II. The Union Pacific and the Central
Pacific Railroads make . through
line from the Mississippi River 20
the Pacific ocean. The eovsrnm~nt
hold . mortgage ous the Central Pa
cifc for So, 600, 900. Nov, if the
Union Pacific 10 sold separately. tbss
the Central Pacific vIll be at the
mercy Of the spectators, aod the
government will necessarily lose .
part OF all Of its mortgage on thai
road
1 Ii is the most gigantic sviudie
ever attempted. The purpose Of the
Harris resolution 10 10 prevent this
property from being sacrificed. IL
il Q bitter fight. The railroad lobby
10 here in force. Senator Harris vill
push his resolution 10 Q vote before
congress sdiourns IL possible.
WORK or TEE TAkIyy CONFERENCE
coNHrTTEEs
The Republican members Of the
Senate and House conference con-
mittees on the tariff reached an
} agreement on last Saturday after.
noon. The Democratic me0bers OF
these eoDWittees we're called In
Monday. Il 10 probable that the
. tariff ball will bc reported back q
the House and Senate before TINS
! CAUCASIAN goes - press. and it ID
possible that Congress may "a
} journ the last OF this week or ths
6rst Of Lsxt.
The most important changes nads
in eoDeersnee are - follows: Prac
tically the House rate On sugar 4
agreed on in place Of senate rate
cotton baggipg and cotton tiss ar
put back on dutsabls hist; white pin
increased froD tl . Thousand 20 e2
There viii b . fight IN the 6snat
!, ovsr some Of thsss changes.
|. A BILL FOE POSTAL sAvrs0s Banks
II The Postal Savings Baak bill In
trodaesd by Senator Butler u ~
( traetiDg . good dsel Of attention
d He has been at work o. it foe son
o tins and is hes bssa carefully prs
r r-IpaEsd. Hs has sseuSsA eopsas q
a