Daily capital journal. (Salem, Or.) 1896-1899, 1897-01-23
MITCHELL, WILLIAMS,
His Last Hope Defeated Grants Attorney General
Death the Funding Bill Broke Says That Ony Constitutional
His Back Quorum Can Do Business.
MITCHELL.

Defeat OF the bill to make the Pa
cIic railway magDates a present OF a
cool 500, 900 was the last straw to
break the back Of John II. Mitchell's
senatorial hope.
The defeat of the funding bill killed
Mitchell's last hope 10 be senator
from Oregon. The bill was killed in
the house and he is not needed 10 the
senate to help put the bill through
there.
lie has stlll federal patronage on
top and pull on Mark Hanna's sack,
but other bOsses have the same stuff
20 hand out.
Senator Mitchell has never denied
but that he would vote for funding
bill. lie fayOrs the same kind Of
banding scheme for the construction
Of the Nicaragua canal.
IL Oregon elects senator at this
session IL should be one who will take
no dictation at the hands OF a corpOr-
alton great or small We commend
the speech Of Congressman Northway
on the funding bill on this point:
| have been a lawyer and have prac-
ticcd law for thirty years, and j have
never seen the day, poor a lawyer as
might he, when | would permit a
client OF mine To be dictated 10 by the
party on the other side until | fully
understood all Of my clients case.
iAppiause. We stand here acting in
behalf of the government, not In op-
position To the debtors OF the govern
ment, but for the best interests Of the
government itself, and II there is a
single gentleman here, outside Of the
membeTs OF the committee on Pacific
railroads, who dares say that he fully
understands ali Of the facts and all OF
the evidence so clearly as TO entitle
him 10 vote intelligently upon this
subject ] would like To see the gentle
man and to visit with him, for he can
cnllghten me. Laughter
Now, Mr.. Chairman, rather than
vote for bill that / know nothing
about, which may compromise the
governments claim TO $4,000 900, 1
will let the government continue To
occupy the position which IL holds at
present. Applause.l 1 do not see any
necessity for our running a foot race
in the settlement OF this business.
We occupy controlling position. No
one can force us TO act. do not be-
lieYe In permitting these debtors OF
the government 10 dictate terms. Ap-
pause. They have done IL for thirty
years, but l think IL ought TO stop.
The gentleman from Tennessee Mr..
Patterson, whom l regard highly for
his intellect, as equal 70 any gentle
man In this house, an able and
patriotic man, stood here yesterday
and proposed TO put into the hands OF
the debtors OF the government u
bludgeOn with which they can dictate
a settlement, He is opposed 10 fore
closing for fear that we shall have TO
buy the road. do not believe that
that gentleman, after thinking IL over,
would make the same speech today or
would sanction the speech he made
yesterday. | want 10 see this govern
ment stand upon its rights and have
all the rights Of creditor, even
though that policy does force it TO
buy those roads. lApplanse.
There Is no use IN playing the cow
ard and saying TO these people, "We
Will not enforce our rights; now tell
us what you will do Yn The moment
you take that position they will offer
you the worst possible terms that
they think you Will accept. | believe
In statnding for the rights OF the
American people In this matter.
believe In saying 10 these parties, I'VE
viii stand upon our rights, s,eVen though
We should be compelled 10 take the
roads," And do not see how we can
/ ~ no gaLfYV
more than we should suffer under this
bill, which provides that the Presid-
ent Of the United States may, when he
thinks proper, certify TO the Secretary
OF the Treasury that, in his opinion,
the Secretary shall be compelled 20
pay of the prior lien out OF the Treas
ury OF the United States That Is the
provision of this bill. Now, what Is to
hinder the owners of this road, IL they
make this settlement with theGoyern-
ment, from putting the money, las they
have done during the last few years,
into Improvements upon the road.
while they default upon the interest
on their tirSt-mOrtgage bonds, thus
practically compelling theGoyernment
TO fOrego what is due il In order that
the amount may be spent upon lm.
proving the rOads
Another thing. | should like 90
know why theGOvernment Oy this bill
should permit the stockholders 10 re-
celve a divldened OF per cent on the
stock while We accept , per cent on
the bonds. This road ia the course OF
the next eighty years may become
profitable r0ad, aud may be able 20
earn more than would pay I per cent
dividends on It's stock. But under the
provisions of section l1,if the cOmpan-
les earn more than percent-in other
words, II they should earn per cent
diVldends-they can, after paying I
per cent, take the other per cent aud
give Us only One-half, thus enabling 5
per cent 10 be paid upon the stock. |
submit that the stockholders ought
not 10 have more than per cent un-
til the obligation uf the Government
has been paid on They ought not 10
be permitted toderlve In that way the
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