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

had been deprived of a large part OF
the amount that should bave gone to
it. He made demand upon the re
o 'Ganlzatlon committee to make tina
good. They Immediately responded
by raising their bid to some fifty ode
MILL n dollars Then he insisted up
on postponement, and, as have
sid, they responded by paying the
full amount.
We were all glad of that result.
No one congratulated the present
administration more heartily than
when it had responded to the de
mands of the people all over the
country. 1t was simply a response
to the honest sentiment of the
country everywhere that the govern
ment should receive the full amount
OF its debt from that great corpora
ion.
We had hoped that there would
be no further difficulty in the set
Element of the Kansas Pacific Dor
ton, which was postponed; and
short time ago we were given assur-
ance by the attorney general that the
government wonld take up the first
mortgage, assume the rights of the
tlrSt mortgage holders, and ask for a
postponement of the sale and for the
the appointment of a receiver. That
was a settlement which was abso-
lutelY satisfactory 10 all of US. We
believed that in that way undoubt-
eddy the full amount of the debt
would be obtained, either first by
the refusal Of the company to permit
the postponement and their immedi.
ate payment of the full amount of
he debt, or, # they did decline to
DO so, the operation of the road by
receiver for the benefit of the two
mortgages then in the hands of the
government would necessarily show
the value of the property, and the
same end would be reached.
But there seems to have been re-
newed pressure brought to bear on
the part of the reorganization COM
mlttee. They have succeeded in OBJ
talnng apparently retraction BY
The attorney general Of the position
which ne had assumed. We hear
from ST. Louis that inst ad OF going
on with the intention which was pub
hcly and privately declared by the
attorney general, there has been an
agreement reached by the attorneys
OF the government and the attorneys
and stockholders interested in the
reorganization committee, and that
under the terms of that agreement
the sale is to be made; that the gov
eminent is to stand idly by and this |
property is to be sold for something
over S6,OOO,OO0, sacrificing entirely |
the interest, so called, amounting to !
nearly S6,7OO,OOO.
1t is assumed, 1 believe, by the
department of justice, in making |
this negotiation, that the value of
this properly is equal only to what
is called the principal of the govern, |
ment debt-Six million, two hundred |
and odd thousand dollars, and the !
amount of the first mortgage, making
about $4,000, 900; that is the maxi |
mum value Of the 1874 miles Of ad;
and that therefore it must be allowed |
10 go and thus sacrihce this immense
amount of six million and nearly |
seven hundred thousand dollars.
Now | want to say a word or two
with regard to the question of inter
est There has, it seems to me, been
a very great misrepresentation all
over the country as to what this in
terest means as applied to the Union
Pacific Railroad Company. see
stated In a great many papers, and
hear even from Senators in this
body, an expression that if the gov
eminent gets back the amount of the
of its debt it can afford to
forgive the interest due by these
companies. want to say there is
absolutely nothing in the shape of
interest ever demanded by the gov
eminent of the United States on the