Year: 1878




8 will unlock the products of section.
| of the country which now product


comparatively nothing, but which
with cheap transportation will ado
millions to the wealth of our people
then these broad and sweeping full.
: limitations against Government as.
f Sistance to any and every public


Improvement, however important
and worthy, SO far from being the
perfection of human wisdom and
, sagacity, may be likened to the par


simony and stupidity of man who,


owning large and unimproved


property and being involved in


debt, is content to let it remain as


dead capital on his hands, to be


consumed by accumulating interest,


rather than by a prudent outlay to


make it productive and thus enable


him to discharge his obligations and


make his family comfortable.


Economy in government expend-


itures is regarded by many as the


only agency necessary to beinvoked


in aid of the stupendous work of


meeting our national obligations.
! Neither governments nor indiVidu-


ais who are in debt can wisely ig-
/ more the Importance or disregard


the practice of economy. All need
| ful retrenchment in expenditures is


not only the part of wisdom but of


necessity under such circumstances.


But the policy which is penny-Wise
and p0und-fOOlish is not the policy


to be pursued by this country to


meet the demands and eXigencies


nf 10 OF AD nsav of


to save pennies by a process which


will lose us pounds. OF all countries


debtor nation can least afford to


court the stagnatiOn of death for its


unutiliZed resources and CONNER
ciai capabilities. And those gentle
men who dream that they can fetter
the growth of this great country or
Shackle its awakening energies by |
such Withes of straw as anti-subsidy |
resolutions stuck under the nose of !
Congress at each returning term will |
find that it is a dream.


Whatever the interests and pros |
perity of the country demand, the |
people will require shall be done. |
1t behoOves us to wisely, broadly, /
and judiciously lay the foundations
and groundwork for making the
load of debt under which the people
grOan less OnerOus and oppressive
for the future. Congress will make
a great mistake if the present favor
able time is not embraced to give
employment to labor, open the life
springs of commerce, impart an inn
petus to the trade of the country,
revive its industries, increase its
assets, and thus inaugurate an era
of prosperity to all its languishing
interests. If economy, so-called and
miscalled, rises to oppose such a
policy and refuses to furnish the
necessary supplies, she will discard
her most powerful ally in her great
battle with the public debt.


NO DANGER OF A SECOND CREDIT


MOBILIER.


But the question has been asked,
''If this proposition is a safe one
why will not private capital em-
bark in the enterprise and build the
road ?'' / answer no private capi-
talist has a foreign and domestic
to foster and enlarge; no
private capitalist can use the road
as Il military and postal route; no
private capitalist has an army TO
at great expense in New
Mexico and Arizona, thus being
able to save annually large amounts
to himself; no private capitalist has
a large Mexican and Indian from /
tier to guard; no private capitalist
has two such Territories as New
and Arizona, with their inn
mense mineral wealth to be devel-
Oped no private capitalist has an /
expensive system of Indian agencies I
to keep up in those countries no !
private capitalist has a sister repub-
lie of Mexico with whom it is inn
portant to maintain friendly rela- {
lions, and no extended Pacific coast
to guard in case of foreign war. !


Place any private capitalist in |
precisely the same relations to this 8
road as the Government occupies, !
md there is not a man in the world, !
whom the welfare of society has (
permitted to remain outside the ,
walls of a lunatic asylum, who
would not close with the proposition !
before the sun could set on him. / {
nm well aware of the fact that the c
present constructed transcOntinental E
inc has so used the magnificent en- \
lowment with which the Govern O
nent has enriched it as to make {
prudent men hesitate in atfOrding I
my aid to another enterprise. But 8
he struggle between Congress and q
hat mammoth monopoly at the /
present session has demonstrated q
he fact that the days of Credit +
MObilier and reckless legislation G
lave passed. ;


In the recent contest with that
it reeled defeated from t
he field with its magnificent lobby /
cattered in confusion and dismay. q
The harness of the law had been G
placed upon it and it has learned a /
/ lesson from which it will derive \
he benefit in the future and from y
which the country will also reap a [
yreat advantage. Notwithstanding T
he great subsidies advanced by the y
to this line, by the S
imely and judiciOus action Of Con- S
,ress at the present session in COM a
lelling a provision for a sinking y
und out of its great profits the t
country is in a fair way to get at {
east a portion of its rights. The t
act has been demonstrated that n
here is still virtue and ability suffi- s
ent left in an American Congress r
O deal with a railroad without G
,eing engulfed in its corruption or t
by its sharpness and S
lvarice. fl


The argument that has been used b
o scare men away from the con-
ideration of propositions, however C
neritorious, meets its ample refu- i,
alton in the achievement of the {
bill of this session. (
With quieted nerves let the repre- {
of the people consult the
public good in their legislation upon n
which have unquestiOn- i
ID merit. Let not Congress timid- {
V surrender the interest of this G
Il eat people because mistakes and (
have marked former 5
but grapple with t
hose questions, remedy mistakes T.
where they have been made, avoid i
he errors in legislation which ex- t
lerience has pointed out, and Sc =
.ure to the people and the CONNER q
.ial interests of this country those II
ABILITIES which the general welfare I
a