The Caucasian. (Clinton, N.C.) 188?-1913, 1897-05-06
GOVERNMENT
RAILROAD.

Bill For the Government to
Take Charge Of The Union
and Central Pacific Rail
roads
RIGINAL LAW PROVIDES
,r tt Tho BIN Quotes Tho Provisions Of
no Act Of 1858 and Subsequent Acts
rrovIding For Tho Construction Of
Ihs.s Hoads-It Sets Out That These
Roads Have Forfeited to The Govern
,,snt by tho Terms Of The Law Under
y bich Tho Government Furnished Tho
y onev To Bald Thsm-It Directs The
Auorney- General to JudiciousIy En-
pree said Forfeiture. and Directs The
.us,sry of Tho InterIor to Take Charge
The Roads and Operate Them 1T
o.tin The Interest OF The People.
fHg CAUCASIAN prints below
nv important bill. AS our readers
ve already been informed, the
ion and Pacific railroad compan-
! have failed to pay the principle
Sd interest OF money furnished by
Govcrnment to build these roads.
Is known that there is q deal
wv on foot between certain syn
Yates and the officials of the Gov
bmcut to buy this properly for
than it is worth. In fact, to
b 1t for less than these roads owe
The rovernment. 1t is an aston
kng statement that the officials of
Government should be wiling to
party to deal to rob the Gov
bmont. But the fact seems to
|rraut this conclusion. Senator
tier has introduced q bill with
wv to thwarting this deal, and
% providing for the Government
take charge of these roads and
tratO them as one continuous
|ough competing line across the
tineGt. This would give q fair
Of the practicality and advlsa-
ty Of Government ownership Of
lroads. 1t should be tried, and
prove whether public owner
P or private ownership of trans
tation lines is best. The bill is as
OWS:
supplemental to an Act entitled
Act to aid in the construction
railroad or telegraph line from
Missouri River to the Pacific
IAN, and secure to the Govern
bt the use of the same for postal,
tary, and other purposes" ap-
Eed July first, eight hundred and
y two; also an Act approved
y second, eighteen hundred and
y four, and also an Act approved
seventh, eighteen hundred and
enty- eight, both in amendment
hid first mentioned Act and other
amendatory thereof and sup
nental thereto, and directing the
Drney- General to have certain
visions of said Acts judicially en-
ed, and directing the Secretary
be Treasury to take possession of
Union Pacific and Central Pa
railroads, to provide for q sink
fund, and for other purposes"
hereas the United States has is
its bonds, payable in thirty
Is after date, bearing six per
um interest per annum, amount
10 twenty we million eight hun
and eighty five thousand one
bred and twenty dollars, to the
tral Pacific Railroad Company
id in the construction Of said
and its telegraph lines,
the condition that the amount
lhe said bonds so issued and
Fered to said companies, to-
er with all interest thereon,
id at maturity be paid to the
fed States, and upon the failure
I'D company to comply with said
ltJou the said railroad and tel
ph lines, with all the property
is functions, immunities, and
lrtenauces thereunto belonging,
Also all land grants to the said
pany by the United States which
Q time of said default shall ro-
IN the ownership of said com.
to be subject to be taken pos
pm of by the Secretary of the
sury, for the use and benefit o1
nited States; and
hereas the United States has is
Its bonds, payable in thirty
after date, bearing six pei
IN interest per annum, amount
twenty-seven million two hun
and thlrty-slx thousand five
ped aud twelve dollars, to the
Pacific Railroad Company tt
the construction of said roaC
eltgraph lines, upon the same
and conditions referred Il
applying to the Central Pa
Iallroad Company; and
ereas a large part of the prin
and interest of the bond issuet
United States to the Contra
g aud Union Pacific railroa,
Anles is now due and payabl
he said companies are in fault
ltreas the said railroad com
s have failed to comply wit
fovislons of said Act and ais
e Act adopted May seventh
en hundred and seventy eight
datory to the act Of July frs
pen hundred and sixty-two, au
ng the L nited States to aid i
pnstruction of said railroad
flegraph lines; and
ereas according to the tern
q Acts such failure Is made
. as forfeiture of all tt
rty rights, privileges, grant
fanchises derived or ebtaine
hem from the United State
fore,
n enacted by the Senate ar
of Representatives,
I nited States of Amfri'