People's voice. [volume] (Wellington, Sumner County, Kansas) 1890-1917, 1898-03-03

mature on the Union Pacific Febru
airy !, 1896, and January !, 1897; OF
The Kansas Pacific November |. '95
January |, 1896, and January |, '97
on the Central branch OF the Unior
Pacific January l, 1896, and January
J, 1897; on the Central Pacific Ian,
uary l6, 1895, January l, 1895, anG
inuary l, 1897; and a large amount
has matured January l, 1898, on al
these roads.
1t seems to me that We have
a right clearly to charge in.
terest. Certainly it would be in &C.
cordance with what the secretary Of
the treasury said, and under the de.
clslon OF the supreme court, on all
the advances of interest since the
maturity of the bonds, since the
whole debt became mature and pay
able. | mention this because there
Is the misrepresentation that We are
collecting interest, whereas the fact
Is that We have not collected any in.
terest. We do not, apparently, ex-
pect to collect interest. The govern
ment has made no claim for interest,
and this whole amount of interest
advanced by the government owing
to the default of the companies
should simply be treated as a part of
the principal debt which is due the
government Of the United States, as
well as the principal of the bonds
themselves. The interest and the
principal of the bonds has been alike
amounts advanced by the govern
ment owing to the default OF the
company.
Mr.. Vest: Let me ask the senator
from Kansas a question. As | un.
derStand the senator from Kansas.
the matter stands IN this way: In
the adjustment of the Indebtedness
OF the Union Pacific railway to the
government We have received princi-
pal and interest, but We have re-
ceived nothing as to the amount that
was paid for interest when the CON-
pany was in fault?
MIR. Harris; Nothing whatever
not one cent.
Mr.. Vest: That is the fact.
Mr.. Harris: That is the absolute
fact.
Mr.. Vest. Let me ask the senator
just one question. What is that
amount?
Mr.. Harris: The amount, as
shown by the report of the secretary
OF the treasury for 1880, was SILL
OO6,2l4.O8. That was July |, 1880.
The amount since that time | have
not been able exactly to compute,
but 1t would undoubtedly amount to
at least S25,OOO,OOO on the entire
number Of bonded railroads; and
that is the amount which the gov.
eminent ought to receive if it was
receiving any interest whatever ON
the advances which it has made.
The question of the value of this
property is the practical one which
is 10 be considered. Every asser-
ton which the reorganization com.
mlttee has made, every assertion
which the Union Pacific railroad
company has made in its efforts
before congress, in the ffty-third
congress and the fifty fourth con-
eress, has been absolutely shown to
DC lalSe and unreliable. They
themselves, by their subsequent &C
ton in paying up the amount in full
on the Union Pacific, have shown
that they did not themselves believe
whatthey had asserted so vehemently.
La this connection | am strongly
reminded of remark and description
which the distinguished senator from
Indiana [Mr. 1'urpiel a short time ago
applied to other members of this
same sort of fraternity, "that when
they speak they lie, aud when they
are silent they steal" That seems
to ne to have been characteristic OF
their course all through this
procedure.
Now they have redoubled their eff
forts TO influence the administration