The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1872-10-18
Sound and Statesmanlike
UtterauCes.
Earnest and Eloquent Plea for Peace
and Reconciliation.
Tho Credit Mobilier Transaction
Proofs OF Corruption-The Ne.
costly for Publication.
SPEECH AT rypIASAroLIs.

tIeman who JUST addressed You has pronounce
Oh the two watchwcrdsof the present canvass.
The first is Reconciliation, the second is Pun
fca,ion. have spoken heretofore on Recon-
citation. propose to speak tonight in tho
interest Of Publication. Our country has re-
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 betraysis Of the highest trusts. ]
will endeavor to illustrate her present peril by
simply recounting to you undeniable facfs
which illustrate the history Of Legislation by
Congress with reference to the Union Pacific
railway. i would fix your attention on this as
4 sample OF the means whereby scheming,
selssh, avaricious men contrive to glut their
own greed while they talk Of public beneii-
cence.
Ten years ago Congress passed an act char
tering the Union Pacific railway. That act
was intended and calculated to secure connec-
ton by railway Of our Pacific with our Allan
tic States noble purpose, and one which
cannot but be strongly commended. As il
was certain that private capital would not
build road through 1000 miles Of mountain
and desert. Congress resolved to aid that en-
terprise generously. In the first place, right
take material from any part Of the public do
main. Next, large grant was made In aid Of
the Pacific railroad. Thirdly. bonds Of the
Government to the extent OF s25, 900 per mile
were lent to the company in aid of this pro-
ject, and first mortga on the railroad taken
therefor. II was thus provided that the road
should be built with public money, for the
pubic use. BY the charter OF the company.
After few years, this project having passed
irto the hands Of capable, grasping men,
some Of whom were members Of Congress, .
new step was taken. Congress was induced
to authorize new loan in eid Of this project,
and an equal amount from the Government
aid-that Is TO say, to the extent of al least
Gao. 900 per mile-and then q 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 fret mortgage Of equal amount
ahead Of ours Now, then. our security was
destroyed in this way, SO that our investment
wae TO be Of no avail. In little while pri-
waite company was somewhere chartered en-
titled the Credit Mobilier Of America. and
that private company or ring was composed
OF lot VI active members Of the Union Pa
afic Railroad Company, some Of than mem
bers Of Congress.
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 !;
NA4t 10 " E3N, tuc Eatuo h0nLcnlcA OANCl8IkklK
a. officers Of the Union Pacific railroad con-
uaoted with themselves as officers Of the
Credit Mobilisr Of America TO construct the
Onion 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 10 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
Congress bad made . mortgage on the entue
road. BY these means $40, GOO, 600 or ESQ.,
0o0, 900 we're divided among the parties, and
oil that money 30 divided we are called upon
70 pay. They divided the bonds, and built
the road with Government bonds which we're
second mortgage on that company.
Now, you see thcee same gentlemen who
engineered through Congress- this project Of
making the road cost double what 1t should
cost, and making half the cost private divi-
dend among themselves-these gentlemen
now appear before Congress for stin further
70 the country such sums a. 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
pay over half Of the money to ne" Conee-
quently, in March. 1871, by an amendment
fastened on an Army Appropriation bill, the
Secretary Of the Treasury was instructed &c
pay over to these companies half OF the money
they earned by carrying the mails and army
supplies, and only reserving half Ut those
earnings toward the payment Of the interest
eemi-monthly, accruing on bonds due to the
United States. So that on this day the people
OF this country are paying come millions per
annum out of their hard earnings for interest
on these bonds lent to the Pacific road, pay
ing this money a. interest to meet the vast
sums divided BY these gentlemen among them
selves, az the dividends Of the Credit Mobilier
Of America.
Now, gentlemen, do not say what individ-
lAls have received this money. but do say
that by corrupt Legislation in the way Of in
dividual gains $50, 10000 or $4,000. 900 have
been saddled on this country--an unjust and
unrighteous debt. We are called upon to pay
the interest now every six months, and after
tntrty years must pay the principal; and all
THIS because the men who were at the Same
time Legislators and corporators corruptly
Used their legislative power to fasten this cor
Iupt debt upon the people Of the United
States. Now, then, l stand here, fellow citi-
xens, to insist that the legislation OF YOUR
country. National and State, needs purihca-
eon, and that the leading men in cur Govern
ment who are speakers, and the members OF
me Committee on the Pacific Railways and
Other railways, should be called to Justice.
We need reconciliation. We need publication,
and this not less than the other. The letters
OF Cakes Ames. the undenied and undenab.e
letters Of . member Of Congress and . cor
PorAton. and large stakeholder in the Union
facihc railroad, whereof he was lately Preei-
oent-thcse letters incoptestibly prove cor
iiuption, and corruption in high places. Such
legislation "a l have briefly exposed to ron
could not have been accomplished. could not
nave been effected, without the connivance
thee. % men rou ,hsi apa
urgently needed.
= Fellow citizens, let me say one word for
"econciliatiou. For years have pleaded, for