The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-01-11
CONGRESS THIS WEEK.
Fate of the Pacific RaiIrOad Funding
Bill. to BE Decided TO-Dpy.

WASHINGTON Jan. 10.-The fate of the
Pacific Railroad funding bill, which was
debated three days in the House last week,
will be decided tomorrow, when the meas
ure with the pending amendments, will
come to a vote under the special order
der which the House is proceeding. The
bill involves the settlement of the $l12. .000, ,000
of indebtedness of the Union Pacific and
Central Pacific on the basis of an extension
of over eighty years at per cent, with an
annual extinguishment payment on the
principal at the rate of 1856, COO for the first
ten years $3.50 600 for the second ten years
and $50, 600 for the remaining years. 1t in
wolves as the alternative of its defeat the
probable Immediate foreclosure of the gov
ernment's lien and the sale of the prop
erty 1t is the elimination of the struggle
which has gone on in Congress for a dozen
years to secure some sort of an adjust
ment of the Pacific Railroad Indebtedness
on the basis of an extension, as ii has been
apparent for long period that the roads
would default when the bonds matured.
The interests at stake are gigantic, and
the friends of the bill straining every
nerve. The opponents of the measure are
also active, and the result is awaited with
intense interest. Each side tonight claims
it will be victorious tomorrow Both sides
have made polls of the members, on which
they predict their claims. Before the hnal
vote is taken the bill the Bell and Har-
rison substitutes, both of which are pend
ing, will be voted on The former provides
that if the Union Pacific and Central Pa
cific will discharge the first mortgage IN
debtedness of SCI, 100000. so as to advance
the governments lien to a first mortgage.
the government will agree to an extension
of the debt at low rate of interest. The
Harrison substitute provides for the crea-
ton of a commission. consisting of the
Of nn frn0 0gr1f n
the interior and the attorney general, for
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 consideration
of appropriation bills until Saturday, which
will be given up to eulogies on the life and
character and public services 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 on whether the Pacific Rail-
road funding bill passes the House and
whether Senator Cameron VIII call up MS
Cuban resolutions. Mr.. Camerons s friends
expect that he will be in his seat Monday
and that when he returns he will indicate
his desire as TO the resolutions on the Gu
ban question. If he decides to press the
resolutions there will be determined effort
TO aid him in this direction, but in any
event there is likely to be a few speeches
on Cuba Senator Mills has announced his
purpose to address the Senate on the ques-
ton tomorrow, and IL Is understood that
Senator Davis is preparing Cuban speech.
The Pettigrew free homestead bill * eX-
pected to reach a vote Monday or Tues
day and ii Is TO be followed by the Pa
cific Railroad bill if the latter bill passes
the House. Senator Cullom. who will have
charge OF the Legislative, executive and ju-
dicial appropriation bill, said to-day that he
expected to be able TO report that measure
by The middle OF the week and that he
would ask the Senate to consider 1t as soon
as reported.