The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-01-09
The PROCEEDINGS.

Washington, Jan. S.-Upon request
of Mr.. Turner, Dem., Ga.), a resolu-
ton was agreed to instructing the
attorney general to add TO his last an
nual report full copies of all CORES
pondence and kilograms between the
department and public officers and all
persons relative to the great railroad
strike in Chicago in 1894, and the ac-
ton of the government in suppressing
the same.
The house then went into committee
of the whole to further consider the
Pacific railroad funding bill
Mr.. Patterson (Dem.). Tennessee,
opened the days proceedings in q brief
speech, supporting the bill. He said
he did not subscribe to the theory OF
the sentimental side of the controversy
that the builders of these roads were
great public benefactors. opening up
vast territory to the growth of the
improvement and prosperity of the na-
ton. There was another side, which
might be called the popular side, that
held these men I'D to scOrn as public
robbers. He did not subscribe TO that
view either.
THE POINT.
There was no use. he said, discussing
matters beyond the pale of remedy by
congress. The fact was that the gov
ernment had loaned it's credit to the
companies by the issue of its bonds,
taking as security for the repayment of
the money thus advanced second mort
cages upon certain property. The
bonds issued amounted to something
over $50, 900, 900 and the security was a.
second mortgage upon about 5000 miles
of railroad. This mortgage did not in
clude the terminals of the railroads.
an assertion, Mr.. Patterson said, that
was in harmony with the opinion OF
the supreme court and of the attorney
general of the United States as we'll
The obligations resting upon the rail-
roads in addition to the government
lien amounted to about $4,000 mile,
which, together with the causes men
toned by Mr.. Powers yesterday. made
it impossible for the railroad CO ~ anies
to earn and pay the interest on their
debts not to speak of the principal of
the obligations. amounting altogether
to about. 100000. The question was
What is the government going to do
with this enormous Indebtedness
TWO PROPOSITIONS.
But two practical propositions pre-
sented themselves. he said One con-
templated government ownership and
management of the railroads. the other
and only alternative was a settlement
with the owners.
To the first he was unalterably op-
posed, preferring. he said, that the
whole debt should be cancelled rather
than that congress should take the
roads.
'-An my public life Mr.. Patterson
said, 'I have been trying to get the
government to go out of the banking
business. and 1 must earnestly protest
against its going into the railroad
business Time. he said, was an i'm
portant and essential element in the
settlement of the question. The COM
panies should be accorded a period Of
sufficient length to enable them to pay
the debt; in return for that concession,
the companies included within their
mortgages to the government all their
property, including terminals and
about a thousand additional miles of
road He indorsed fully the provisions
of the bill constituting a just. reasona-
BILE and business-like basis for settle
ment, in view of the earning capacity
of the corporations.
HARRISON OPPOSES 1T.
Mr.. Harrison (Dem.). Alabama, fol-
lowed in opposition to the bill. He
believed that the time had come for