| Show i THE bUB JDlZED ROADS TATLOR the government railway commissioner com-missioner has filed his annual report with the secretary of the interior and people I out this way will be glad to know that heI I has not permitted politics to influence him in what he says concerning tho subsidized railroads In regard to the Union Pacific the commissioner endorses the policy of the company in aiding the construction of branch lines and says were it not for these feeders the road would yield no net earnings and the property would not be worth the amount of tho first mortgage mort-gage bonds Ho also recommends that a settlement be arranged between the subsidized roads and the government upon terms which will be equitable The government gov-ernment directors of the Union Pacific it will be remembered made a similar recommendation = recom-mendation In their report recently presented I pre-sented It may therefore be expected that the Congress which moots in Decem 1 her will take some action looking to an ad j justment of thB debt If that action shall be in tue line of reason in harmony with I the wise suggestions of the government officials of-ficials the subsidized roads will in time pay all they owe and while caucelling the debt the properties will be improved and managed according to business busi-ness principles Only those residing along one of those subsidized lines and who is familiar with the course pursued by Congress Con-gress in dealing with the companies know now injurious has been the hand of the government It is almost marvelous that actual bankruptcy has not overtaken both I the Union and Central Pacific It is probable prob-able that both companies would have gone to tho wall ere this surrendering their property in payment of the I debt to the federal treasury had it not been for some of the I men connected with the management of I the roads who had the courage to defy Congress I Con-gress and the shrewdness to defeat Iniquitous I Iniqui-tous attempts to destroy the property If politics can be taken out ot the legislation legis-lation and Congress can get down to dealing deal-ing with the companies as an intelligent creditor would deal with a distressed debtor deb-tor the Union and Central Pacific will be able not only to pay tho government but to materially aid in the development of the country to which they must look for support sup-port |
