The Bolivar bulletin. [volume] (Bolivar, Hardeman County, Tenn.) 1865-1888, 1872-09-27
BUYING CONGRESSMEN.
Grave Charges of Bribery and COrrup.
ton.
Wilson, COlfax and Blaine Among the
Bribed.

The letters of Mr.. Oakes Ames, embrac-
cd in the following article from the New
York Sun, are genuine documents, sub
mitted in his own handwriting in the due
course of trial still pending before an
Examiner IN the Eastern District of the
Supreme Court of Pennsylvania, duly
authenticated ON oath and confirmed by
sworn testimony. ..
From the New York Sun.
The full import of the revelations con
tained in the letter from our Philadelphia
correspondent, published in the Sun of the
9th, can only be appreciated by careful
reading of tie testimony of Col. McComb.
The main points of this expose are as fol-
lows:
The Union Pacific Railroad, of which
McComb was one of tho corporators was
incorporated in 1862 by act of Congress-
From time to time this act was amended
until the subsidies bestowed on the Com
pany in Government bonds amounted to
far more than the cost of the enterprise,
while there was in addition grant Of more
than I3, 100000 acres Of the public lands.
The sworn testimony of Col McComb
discloses, first: That a few capitalists, in
order to obtain control Of the vast sum of
IlOutg "l4ACtl Wdn " bC lEAllEtu .AIOlll. kbt
Government bonds, purchased the fran
chises of a Pennsylvania corporation,
known as the Pennsylvania Fiscal Agency,
and changed its name to the Credit Mo
bilier Of America. Like many other con-
Germs chartered by the Pennsylvania Leg
islature, this corporation seems 10 have
had authority to do anything it chose. DIR.
Thomas G.. Durant of this city seems to
have been the originator Of this scheme,
and to have organized the inside ring
as McComb terms it. Durant, Cornelius
s. Bushnell, Charles L. Lambert and Nc
Comb took all the stock OF this Credit No
bilier or the great majority Of it, aud Du-
rant was made President. This was IN
October, 1864. DuraHt was also Vice
President OF the Union Pacific Railroad
Company, and the other gentlemen were its
principal managers. a contract had pre-
viously been made by Durant with man
named Hoxie to build the first 100 miles of
the road. Hoxie was, as McCOmb testi-
fes. a mere fgure-head to represent the
| Inside ring of the stockholders, to
whom all the profits realized from the con
| tract we're to 20. There was danger Of in
c1rrinp personal liability under this ar
rancement Hence the Ring organized the
l'Credit Mobilier of America. The HOxie
contract was transferred to the Credit No
bilier, and thus officers and managers of
the railroad were enabled to make a con-
tract with themselves, as the officers Of the
Credit Mobilier, to build and equip the
road Under this arrangement, the stock
holders Of the Credit Mobiher realized mil
lions Of dollars. The dividends during 1866
amounted 220 per cent
Some time after the organization Of the
| Credit MobIlier, Oakes Ames and q few
other Boston capitalists we're taken in.
/ They were not willing TO allow Durant and
/ his friends to manage the concern. They
made fight against Durant, and finally
! succeeded IN ousing him. McComb seem;
to have been a friend OF Durant and he
was marked for prey also.
Oakes and Oliver Ames, who are broth
ers, were the leading spirits in the Credit
MobiGer in 1867. With their friends they
did pretty much as they pleased for {
| while about this time some additional leg
/ islation was wanted from Congress. Oakes
/ Ames was a member of Congress, anC
managed this business. The Ring was no
making enough to satisfy them out th'
bonds received from the Government The,
wanted an act passed allowing the URioi
| Pacific Railroad Company 20 issue frs
mortgage bonds, With the interest guaTan