Eaton weekly Democrat. [volume] (Eaton, Ohio) 1866-1875, 1872-10-10
His Remarks at indianapolis, Ham
ilton and Cleveland. 5r
Sound and Statesman1i1xe
Utterances.~ ,,
Earnest and Eloquent Plea for Peace
r,. and Reconciliation. .E t.,
The Credit Mobilier Transaction
Proofs of Corruption-The Me- FL.
+ cessity for Publication.
SPEECH. At 1Np1ANApoL1s.

-a..5es,l edl - a'a :auGf,oy !
SPEECH AT INDIANAPOLIS.
PEOPLE OF INDIANA: The distinguished gen
tleman who just addressed you has pronounce
ed the two watchwords of the present canvass.
The first is Reconciliation, the second is Puri-
fication., have.spoken heretofore on Recon-
ciliation. I propose to speak tonight in the
Gently encountered and vanquished the peril
of disunion. She is to-day confronted with
the deadly peril of corruption. The cancer is
eating into her vitals whereof the essence is
purchased legislation, bribed public servants.
and serious betrayals of the highest trusts. I
will endeavor to illustrate her present peril by
simply recounting to you undeniable facts
which illustrate the history of legislation by
Congress with reference to the Union Pacific
railway. Iwould fix your attention on this as
sample of the means whereby scheming,
own greed while they talk of public benef-
cence. '-- -'''.+' y
Ten years ago Congress passed an act char
terfnIy U1fUu T N r5rffyysEys-ftIut net
was intended and calculated to secure connec-
ton by railway of our Pacific with our Allan
tic States-a noble purpose, and one which
cannot but be strongly commended. As it
was certain that private capital would not
build a road through 1000 miles of mountain
and desert. Congress resolved to aid that en-
terprise generously. In the first place, right
of way was granted, with the right also to
take material from any part of the public do
| main. Next, a large grant was made in aid of
the Pacific railroad. Thirdly, bonds of the
Government to the extent of $25, 900 per mile
were lent to the company in aid of this pro-
| ject, and a first mortga on the railroad taken
| therefor. 1t was thus provided that the road
should be built with public money, for the
public use, by the charter of the company.
| After few years, this project having passed
| into the hands of capable, grasping men,
some Of whom we're members of Congress,
new step was taken. Congress was induced
to authorize a new loan in aid of this project,
| and an equal amount from the Government
| aid-that is to say, to the extent of at least
| S2O, 900 per mile-and then new loan was
authorized, to take precedence of the Govern
| ment loan. In other words, Congress relin-
| quished our first mortgage on the railroad and
took second mortgage. authorizing the COM
pany to make first mortgage OF equal amount
| ahead of ours. Now, then. our security was
| destroyed in this way, SO that our investment
| was to be of no avail. In q little while a pri-
| yate company was somewhere chartered, en-
| titled the Credit Mobilier of America, and
| that private company or ring was composed
| of a lot of active members of the Union Pa
cific Railroad Company, some of than mem
/ No list of the stockholders of the Credit
| Mobilier was ever published, or can be OBJ
/ tanned; but these gentlemen proceeded to
| make contracts virtually with themselves;
| that is to say, the same gentlemen officiating
| as officers of the Union Pacific railroad con-
| traoted with themselves as officers of the
4 Credit Mobilier of America to construct the
| Union Pacific railroad, at enormous prices,
| which absorbed both the bonds lent by Gov
| eminent and the private loan of the company
of equal amount, which was made the first
| mortgage on all the property of the road. In
| other words, these gentlemen contracted with
| themselves to pay themselves twice the fair
cost of entirely building and equipping the
road, and, building the road with the proceeds
of the money lent by the Government they
proceeded to divide among themselves the
| other bonds, equal to the amount for which
| road. By these means $40, ,O60, 600 or S3O,-
000, 900 were divided among the parties, and
all that money SO divided we are called upon
to pay. They divided the bonds, and built
/ the road with Government bonds which were
I a second mortgage on that company. o..
Now, you see these same gentlemen who
1 engineered through Congress this project Of
making the road cost double what it should
cost, and making half the cost private divi-
dend among themselves-these gentlemen
now appear before Congress for still further
advantages. Congress had thus far reserved
to the country such sums as this railroad
earned by carrying the mails and provisions,
etc., for the army of the United States; but
the company said "No!' They said: I've
want to reserve half of the money. You can
4 pay over half of the money to u.s. Conse-
quently, in March, g1871, by an amendment
fastened on an Army Appropriation bill, the
Secretary Uf the Treasury was instructed tc
pay over to these companies half of the money
they earned by carrying the mails and army
supplies, and only reserving half of chose
earnings toward the payment of the interest
United States So that on this day the people
1 of this country are paying some millions pei
, | annum out of their hard earnings for interest
on these bonds lent to the Pacific road, pay,
ing this money as interest to meet the vas
sums divided by these gentlemen among them
selves, the dividends of the Credit Mobiiel
/ of America rss. .-s :. .y~'ill -.-L ~
, uals have received this money, but I do say
that by corrupt legislation in the way of in
dividual gains $50 100000 or 1000, 900 have
Z been saddled on this country-an unjust anC
t | unrighteous debt. We are called upon to pa.
) the interest now every six months, and afte
, thirty years must pay the principal and al
] this because the men who we're at the sam n
used their legislative power to fasten this cor
/ rupt debt upon the people of the Unite
/ States.5 Now, thensI stand here, fellow eiti
Z zens, to insist that the Legislation Of you
. country, National and State, needs purifca
ton, and that the leading men in our Govern
e ment who are speakers, and the members o
5 the Committee on the Pacific Railways an
, | other railways, should be called to justice
Z We need reconciliation. We need publication
I and this not less than the other. The letter
+ of Oakes Ames, the undenied and undeniabl
1 letters of member of Congress and q col
# poration, and large stockholder in the Unio
y Pacific railroad, whereof he lately Pres
:, dent-these letters incoDtestibly prove col
= ruption, and corruption in high places Sue
+ legislation as I have briefly exposed to 20
r could not have been accomplished, could nc
e have been effected, without the connivanc
Of men tSst an
7 urgently needed. q
7 Fellow citizens, let me say one word fc
9 Reconciliation. For years 1 have pleaded, fl
10 years have implored that strife and eontel
" ton should cease for years have said, ''L
n as have universal amnesty and impartial su
If frage." [Applause:l We have achieved in
Il partial suffrage. No man contests it.
( man disputes it. Now give us universal al
nesty. We ought to have it. [Applause.l
4 is time that alienation should cease. 1t
E ff time that hatred engendered by the late co
II test should cease. 1t is time that the Amer
le can people, the whole of them, should
asked again to assume the right of pow