The Idaho world. [volume] (Idaho City, Idaho Territory) 1864-1918, 1872-10-10
LETTER FROM NEW YORK.

LETTER FROM NEW YORK.
New York, Sept II, 1872.
Ed. WORLD: regret my inability to write
you more frequently than have been able to
do thus far. But my excuse is pressing en-
gagements of character which trust will
contribute something to the success of the great
and good cause we are lab0ring to establish.
pating grand rally at the ratiicationim
called by the Democrats and Liberal Repnbli-
cans for the 18th inst These anticipati0ns
were most fully realized, for this city has not
witnessed such an outpouring of people and
such unbOunded enthusiasm since the early
days of 1861; and no one was more thoroughly
astonished than the Grant people, for they did
not believe it possible to call out such vast
concourse as gathered on that occasion. There
were seven stands for speakers, and three or
four speakers to each stand; and yet not one
half the people out could get in hearing of
speaker.
The outlook in Pennsylvania, Indiana and
Ohio continues to improve as the canvass pro-
crosses. A letter from General Brinkerhoff, OF
Ohio, few days since, assures us that acces-
sions are being made every day to the Liberal
cause. He has just made the tour of the State
and of course speaks from actual personal OBJ
seryations. He says the result IN Maine has
not had, as claimed by the Grant people, q
dampening effect on the enthusiasm OF the Lib
erals and Democrats; but, on the contrary,
they of the West fully appreciate the fact that
the Radicals lost materially both in Maine and
Vermont, and the Liberals gained at ratio
which, if maintained in the October elections,
will surely carry the States thus voting for the
: -uc. Hkn 70 n
guine that Ohio will give handsome majority
against the corruptionists; in fact, he deems
this result quite as certain as in Indiana, which
is surely "putting it very strong;" yet, if the
accesslons 10 our ranks continue until the cleo
ton in next month, there can be no doubt,
whatever, of the result in that State.
The exposure made, short time since, by
the Sun of that colossal fraud of the Credit
Mobilier of America has carried CONSERVATION
into the ranks of the faithful" They are
endeavoring. by great vehemence and lavish
use of printers ink, to deny the charges con.
tained in Col McComb's testimony, or. rather,
to torture the most disingenuous and evasive
statements into fiat denials, when the real
points in the case are left untouched. Now,
it makes no difference whether the inculpated
members of Congress, Senators and others
paid for the stock in this swindlng concern OF
whether it was gireR them; and yet, in all the
denials so far made they pretend to find the
| qraraaea Of the charge to be that this stock
was girea to them. The fact. however, is that
this Credit Mobilier was the old Pennsylvania
Fiscal Agency. revamped for the express pur.
pose of absorbing all the first and second mort
gage bonds of the Union Pacific Railroad, Its
| lands and as much of its stock as could be Sc
cured, or as might be thought best. Fictitious
or sham contracts were made for constructing
and equiping the road, and by some under
standing or species of legerdemain all the
money paid out on these contracts went through
or into the hands of the Credit Mobilier; &C
that, if there were any profits on these con
tracts-as of course there were enormous
profits-this concern made all such profits
Now, it seems that this close corporation, fol
such it was and is, strictly. received over one
hundred million Of dollars in bonds and lands
and that the actual cost of building and equip
ing the road was somewhere from twenty
seven to forty millions, leaving the balance t.
be divided among the stockholders in thu
Credit Mobilicr, thus cheating the stockholder'
in the Cnion Pacific Corporation out OF al
this. Not only have these Credit Mobilier gen
tlemen perpetrated this most astounding ant
Infamous fraud or swindle upon large major
ity of Union Pacific stockholders, but import
ant legislation concerning this corporation ha
been had, nr prevented, since Members ant
Senators have become stockholders in thi
Credit Mobiier. I instance the Legislation
concerning the termination of the road at Of
near Ogden: the Act authorizing the compan!
to remove its principal Office of business t.
Boston after Col. James Fisk, Jr., had com
menced proceedings which would have brongh
to light the facts now brought ont BY Penn
sylvania court; and worse than oil, if possible
the recent legislation concerning the paymen
of interest on the second mortgage bonds, tn
payment of which is guaranteed by the Gov
ernment. It was claimed BY some officer
the Government-po ignorant soul-that al
the earnings for the transportation OF the ma,.s
troops, military stores, etc. should be, by tn
Company, charged to the interest account OF
these bonds, seeing that the Company was, ant
is. in arrears on this account; but resolution
passed BY the votes Of interested parties agains
such "diversion" Of funds stopped this
Hence you see that among the items OF annua
Expenditures of the Government is one for 10
|terest on Union Pacific Railroad bonds. Blu
|beyond and beneath all this, when the truth
this business is known, it will then be seen, q
lit is well known among many here. that thes'
people did not actually pay more than ten PEI
cent. for this stock, and some Of them did no
leven pay that cut Of their own money. III
stock was simply subscribed for, and theI
shOrtly after q dividend Of Government bonds
nearly or quite equal to the par value Of TN
stock. would be declared, when it would b
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