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

~ WIN 'Si"OCiI duu uio
opinions are very valuable on these
subjects, and 50 | should like to have
them.
Mr. Harris: You mean what is my
estimate Of the cost?
Mr.. Gear: Your estimate OF the
cost Of construction.
Mr.. Harris: On the main line?
Mr.. Gear: The line Of the Kansas
City Division, as well as the 1874
miles.
Mr.. Harris: The present line
occupied by the Kansas Pacific could
be duplicated for twenty thousand OF
twenty-five thousand dollars a mile.
but the cost 0: constructing it has
absolutely no reference to it's value.
They have a right Of way, and they
occupy a line which can NOT be en-
croached upon and which can not be
duplicated. The expenditure on that
property a long time ago was about
$40, 900 mile, as | remember it, but
It's value now has no relation what.
ever to the amount then expended
upon it or the amount for which it
Gould be duplicated to-day.
Then We paid 500 a ton for iron
and We paid extravaganza prices for
engines and for.cars. All of those
things can now he obtained for less
than half their then price; but you
can not build another road on this
same line, for it has a monopoly. 1t
is entitled to be considered to have
advanced in value just as real estate
in city advances from the naked
prairie up to a Thousand dollars foot
or more. Its value now can not be
reproduced by simply a duplication
of the line, if that were possible.
Mr., Allen: What is the value of
the line, estimated by its earning
capacity?
Mr. Harris: l have already given
what | think is an estimate of the
earnings for eleven years past, which
represent 4 per cent on $4,000, 900.
That covered the most depressed
period we have ever known in the
history of the West. | do not think
any western senator will believe That
the earning capacity Of any of these
railroads will ever again be reduced
to so low a point as during the last
eleven years. 10 spite OF all the
misfortunes and adverse circum-
stances which we have had, the West
is growing; the West is improving; it
has a magnificent future; and we
have right TO consider that the low
water mark was touched in the earn
ing> which | have given, and which
are entitled to be considered as al
most entirely of this specific property
of 394 miles, which can not be d.
verified from it in any way,
Mr.. President, | have endeavored
to express my idea of the value of
this property 10 the briefest possible
manner. | do not wish to weary the
senate, but | wish now 10 state that a
week ago last Saturday, on the 5th of
February, the encouragement made
public announcement OF his inten-
tlOn to redeem the first mortgage
bonds. That was strickly 10 CON-
pliance with the law and the resolu.
tiOn OF June last. 1t was satisfactory
to everyone on this side OF the
chamber who has been endeavOring
to obtain the full amOuntOf the debt
due to the government OF the United
States. We did not make any effort,
therefore, to bring this matter before
the senate during the last week.
We regarded the matter as settled.
We had no hesitation in congratulate.
ing the president aud the attorney
general and in felicitating ourselves
upon this successful accomplishment.
We believe it would absolutely result
in the veriflcation of everything we
had said as TO the value of the prop-
erty, and yet the attorney general
seems to have surrendered the rights
of the government by the agreement
made IN st. Louis with the repre-.
sentstives of the reorganization com.
mittee. 1t is absolutely appalling.
| do not speak of these things from
any party point Of view. | simply
occupy the position Of a citizen and
senator sworn to do his duty and
endeavOring to see that the lust
rights of the government are obtained
from people who for thirty years past
have been willing to violate every
one OF their agreements and obliga-
tions with the government.
Ii at the beginning Of this CON-
troyersy-at the beginning of the
tifty-third congress-Mr. Cleveland
had simply in few words said to
these gentlemen, "The Government
will insist On an absolute compliance