Monopolies -- United States; Railroads and state -- United States
How is it
now? Let the facts answer. Class or personal legislation, for special
combinations, or in certain interests, is the rule, and legislation for
the benefit of the whole people is the exception to that rule.
Congressmen, to secure an election, expend large sums of money, and when
elected their first care is to _get even_. To accomplish their purpose,
they resort to unconstitutional legislation, such as granting exclusive
privileges or jobs to individuals, for which indirect pecuniary
consideration is received. But this alone would not suffice to reimburse
them for their great outlay. The greatest source of profit to
congressmen has been, and unless it is checked, will continue to be,
found in railroad legislation.
CHAPTER X.
AN UNSETTLED ACCOUNT--A GUILTY DIRECTORY.
We now invite the attention of the reader to the account as it now
stands with the subsidy bonds voted by congressmen to companies in which
many who voted were stockholders and directors.
As the law stood prior to April, 1871, all railroad companies that had
received government lands were required to pay the interest once in six
months as it accrued. This interest had not been paid, and the secretary
of the treasury withheld, to apply on the accrued interest, the amount
earned by the different companies by the transportation of the mails,
troops, &c., for government. Congress, composed in part of stockholders
and directors in these same companies, passed a law ordering the
secretary to pay in money to the different companies one-half of the
amount thus earned, and left it optional with the companies to pay, or
not to pay the interest on their bonds. This they have not done, and the
interest account of these companies with the government stands about as
follows:--
Central Pacific, paid $ 527,025 Bal. due $5,841,351
Kansas Pacific, " 973,905 " " 995,448
Union Pacific, " 2,181,989 " " 4,779,763
Central Branch, U. P., " 15,839 " " 477,969
Western Pacific, " 9,350 " " 358,329
Sioux City & Pacific, " 826 " " 388,780
Public-domain text, read in full here on John Shaqi.
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