The National tribune., 1897-01-14
the bill. This was . test vote on tho bill. The
motion was carried-ayes. IA; nays, 1Oh The
bill was passed without division.


| THURSDAY, JAN. !.
an the Senate, there wss discussed without
| action the bill relating to free homesteads on
public lands acquired from the Indians. Mr..
Plat Comm led the opposition to the bill.
pointing out that it would result in loss to
| the Government Of many millions dollars.
The settlers on these lands had agreed to pay
| for them, and thus reimburse the Government
for the millions paid for extineuishing tho
Indian titles. Mr.. Plat denied that the op-
that as an Eastern Senator he merely desired
TO have the Government protected against an
enormous loss.
On motion of Mr.. Frye the Senate took mp
number of bills relating to commerce and Davi.
cation. The House bill to amend the naviga-
tion laws was passed with Senate amendments.
1t deals with the rules which govern vessels %
sea and on the lakes and rivers.
The bill amending the laws relating to
American seamen occasioned long and fruit
less debate. which led Mr.. Perkins to character
ize the talk as tempest in teapot" where
| at Mr. Hill protested against calling the Senate
teapot"
When Senator Perkins (Cal.) moved to make
the bill for the appointment of a commission to
consider the problems presented by labor. sgri.
culture and capital special order for 2 p 10.
next Wednesday, Mr.. Call suggested that Cuba
might be before the Senate at that time.
alt is about time" answered Mr.. Perkins,
THAT we give some consideration to our own
citizens, as well as to those of Cuba and Ar
menia."
lively parliamentary contest ensued, Mr..
Aldrich continuing it until Mr.. Perkins's effort
for special order was cut off by the expiration
of the morning hour.
In the House, the Pacific Railroads funding
bill was discussed. Mr.. Powers declared that
| the bill was plain business proposition. he
gave history of the building of the Pacific
roads and explained the necessity for Govern
ment aid that then existed. Large grants OF
lands were given, and the bonds of tho road
were guaranteed up to $4,000 per mile, as far
as the Sierras, and $32. 600 for the distance
across the mountains. taking q first mortgage
as security.
Even with this aid, he said, the projectors
were unable to 60 ahead with the construction,
| and Congress, at their solicitation, in 1864,
| allowed them to place first mortgage under
the Governments lien of an equal amount.
Many branch lines have since been built, but
the Supreme Court has decided that the Gov
ernment's second mortgage now rests only
upon that portion of the roads actually aided.
Great benefits, Mr. Powers declared, had come
to the American people from the completion OF
this work, cities and even States having been
created by it.
The present indebtedness Mr.. Powers showed
to be $50, 7l5, 40s on the Union Pacific and Kan.
sas Pacific and So. 1,514 on the Central
Pacific and Western Pacific. The roads were
unable to pay this. and the Government must
act. Should the Government forecl0se on its
mortgages, or seize the roads, itwonld be obliged
at once to pay the outstanding first mortgage
bonds, amounting in the aggregate TO SOL $780,
O00 Was this advisable with the present con-
dition of the Treasury? he asked.
The plan which the Pacific Railroad Com.
mittee proposed, Mr.. Powers said, was to ex-
| tinguish the remaining debts of these compa-
mics by periodical payments, with interest
upon the deferred payments at per cent.
These debts the bill provided should be Sc
cured by second mortgages made by the COM
panies which shall embrace not only subsidized
parts of the roads on which the Government
| now has q second lien. but also all their
branches. terminals, lands, and equipments to
which the lien of the Government does not
| now extend. 1t also provides for the issue of
the company's bonds for the Governments bal
| snce of $1l2,00o,000 at 2 per cent, and for
of principal, 1856. annually for 10 years.
| $550.O00 for 10 years, and the balance At the
rate of $3.50. 900 annually.
| II this bill were passed and the Government
| should eventually be obliged to take the roads,
Mr.. Powers said it would then have railroad
| to operate, not portion of q road.
| Mr.. Hubbard (Mo., r. who had charge OF the
with sn extended argument. He plunged at
once into the subject. He agreed with Mr..
Powers that the question was purely one OF
business. The constructors of the Pacific roads.
he said. had earned profits OF $62, 600, COO and
| the roads had paid $43 DOC, 600 in dividends.
His purpose in citing these facts was to show
that those in control of the companies were
strong, while the corporations pleaded bank
rupfcy and inability to pay.
He based his argument against the bill on
| three points: That the Pacific Railroad Com
mittes had not learned enough of the condition
| of the companies to be able to tell the House
what is best to do; that the companies made
offers before the committee and are ready TO
concede terms very much better for the Gov.
eminent than those embodied in the bill, and
| that the propositions in the bill are neither q
| good nor safe settlement for the Government.
| Mir. Bell talked against the measure and Mr..
Grow in its favor.
| Senator Morgan has offered substitute for
the Pacific Railroad bill, which provides for a
Board OF Trustees, consisting Of nine members,
| four to be appointed from west of the Msss-
sippi River and four east, and one who shall be
| President OF the Board, whose locality is not
specified. These members shall not be stock
holders in the roads, and shall be appointed by
the President and confirmed by the Senate
| They shall take control of the roads and manage
| them as a corporation with view OF settling the
4 debt. Provision is made for a per cent. sink
| ing fund. The whole debt is to be refunded in
| bonds bearing per cent. interest. and running
30 years. Senator Morgan says that under his
| bill the roads can be made to pay all liabilities
| within % years.
| FRIDAY, JAN. 8.