New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-02-10
GOVERNMENT AND THE RAILROADS.

The Populist determination TO force Govern
ment control and operation Of railroads, through
the complications arising from the Pacific Rail
road situation, received a new illustration the
other day when Congressman Hubbard, Of the
House Committee on Pacific Railroads. gave as
a reason why Congress should interfere In the
foreclosure proceedings already begun that par
ties representing certain Western roads were
ready to offer $4,000. 900 more for the Govern
ments interest than the upset bid of the New
York syndicate. 1t will be remembered that the
syndicates offer was. in round numbers. $40
100000. Mr. Hubbard's statement that other
parties were ready TO bid Sj5.000.000. though
received with incredulity in railroad circles and
by persons familiar with the property served
as a stay Of proceedings on the part OF the COM
mittee until the representatives of the railroads
In interest could be heard from. On Monday.
accordingly. President Stuyvesant Fish Of the
Illinois Central and Nce-Presldent Frank 5.
Bond of the 81. Paul appeared before the COM
mittee. Neither Of them had ever heard of any
such offer being considered by the corporations
they represented or by any others, and Mr. Fish,
though he thought Government ownership might
be in some respects beneficial to connecting lines,
frankly said that as purely business PROPOSE
ton the Government, if it wanted 10 get its
money back. should accept the first good offer
for It's interest in the property. Mr. Hubbard
then explained that he had not intended 10 con-
vey the impression that definite offer would
be made; but other members of the committee
who had been misled by his statement expressed
the opinion that his action had not been straight
forward.
Whatever may have been Mr.. Hubbards mo-
tive, the performance was quite in line with the
policy which has been pursued from the begin
ming of the agitation Of this question 10y the adj
vocates of Government control The staving off
OF any settlement with the Pacific roads until
by force of circumstances the Government VIII
be compelled TO take possession of the property
10 save itself from loss Of the entire debt, has
always been the policy Of the advocates OF Gov
eminent control 1t is now the avowed policy
of the POpulist party, in whose platform the
operation of railroads by the Government is as
much cardinal doctrine as Free Silver or Free
Trade. Mr.. Hubbard is claSsed as a Repub-
lean, but in this matter he has been playing into
the hands Of the Populists, who are bending all
their energies TO the defeat OF any plan for set
Ting this long -mooted question and closing out
the wholly unsatisfactory and Improbable rela-
tons between the Government. and the subs-
died roads The House Committee on Pacific
Railroads has under consideration bill appoint
Ing a commission to consist of three Cabinet
officers, who are fully empowered TO arrange
terms of settlement. but without interfering with
negotiations now in progress under the fore !
closure proceedings. 1t does not seem probable |
that this or any other bill upon the subject can |
be passed in the three weeks that remain Of the |
session. The proceedings in foreclosure will |
consequently be pursued until a decree Is en- |
tered and sale made Of the Governments in |
terest.
This promises an equitable and final settle
ment which should be satisfactory 10 all par
ties That ii will not be satisfactory 10 the |
Populist advocates of Government control is
evident. of course a it will by so much reduce |
their political capital end diminish their stool: |
in trade But It will go far toward establishing |
in permanence for all time the presen, whole
some constitutional limitations upon Govern
mental functions.