478 THE GROUNDSWELL. 



road can not cover one-tenth of the amount of their debts. 

 The companies report a paid up capital stock of $91,028,- 

 190.&quot; 



Mr. Cloud makes the total investment in the road from 

 paid up capital, bonds from government, and funded debt to 

 be $294,028,190. Per contra : Actual cost of construction, 

 $94,000,000; balance, $155,028,190. 



If we deduct from 37,500,000 acres of land at $1.25 per 

 acre, or $46,875,000, the balance against the road would be 

 the nice little sum of $108,153,190. Mr. Cloud then says : 

 &quot; Thus, after placing the land received from the government 

 to the credit of the road, still a small balance of more than 

 $108,000,000 has disappeared, and the companies are not 

 able to pay the interest on the government bonds. The 

 reports of these companies show, for the year 1871, that the 

 net earnings of their roads (over and above all expenses, in 

 cluding taxes, repairs, damages to property and persons, 

 cost of snow sheds, and all other items of expense) amounted 

 to about $9,000,000 ; and yet, because these companies asked 

 it, Congress released them from the payment of the interest 

 on the subsidy bonds.&quot; This action of Congress was an out 

 rage. Truly, other &quot; statesmen &quot; than Boss Tweed should be 

 looking through the bars of a prison to-day. While we are 

 taking railroads to task on general principles, let us not for 

 get those in high places who have enabled railroads to fleece 

 the people. 



SMALLER CREDIT MOBILIER ASSOCIATIONS. 



The Chicago, Eock Island & Pacific Eailroad Company is 

 five hundred and forty-four miles long ; that is, in Illinois, 

 from Chicago to Eock Island, one hundred and eighty-four 

 miles, and from thence to Davenport and Omaha three hun- 



