Wyandot County Republican. [volume] (Upper Sandusky, Ohio) 1869-1903, 1873-03-06
Report of the Senate Credit-MObiIier
Committee.
WAsH1NErnN February Q

|
Report of the Senate Credit-MObilier
| Committee.
WASHINGTON, February q.
Having examined the testimony taken before the
House Of Representatives and heard the statements
of Senators in relation thereto and taken such tes
timony as was acceptable tending to shed light
| upon the subject matter, and having attentively
considered the same the Committee in the first in
| stance present the facts as ascertained, touching
of the Senate supposed to be affected by the evi-
| dence taken by the Committee of the House of
Representatives is the name of John A. Logan. In
| December, 1857, Logan made an arrangementwlth
| Ames to purchase ten shares of stock commonly
| known as shares of the Credit-Mobilier OF Amer
les, upon recommendation of Ames that the stock
was valuable, and payment could be made In con-
slderation of agreement at any time and the stock
was never delivered. In June following, Ames
| showed Logan an account in which he credited him
with two dividends arising on the stock subsequent
to its purchase, from which he deducted 1OOO, the
price OF the stock, and gave Logan check on the
| Sergeant-at-Arms of the House for the balance,
1929, which check paid on the 10th of July fol-
| lowing Having become doubtful whether it was
good stock, or whether there would not be diff
| Guilty about 1t, Logan repaid Ames the amount of
money received on the check and interest thereon,
stating to him that he had concluded not to take
transaction ended, Logan having further interest
! In 1t. Logan and Ames were members Of the House
OF Representatives at the date of the transaction
The testimony does not affect Logan In any
sense which would call for action of the Senate. II
It possess jurisdiction over acts happening before
ms ms elecnon tothe Senate, question on wnicn,
under the finding of the Committee, it is unneces-
sary TO express an opinion.
Int the record from the House of Representatives
| Is the name of Roscoe Conklng, member OF the
Senate. Conkling does not appear to have been
connected in any way with stock of the Credit
Mobilier, or of the Union Pacific Railroad Com
pany, aud, consequently, is in no way affected.
- On or about December 5, 1867, Senator Wilson.
on behalf Of his wife, at the instance of Ames, and
upon the advice of friends, contracted for twenty
Shdree of Cre0it-MOh1ier stock having therefor in
cash $4,000 which belonged to his wife, Ames CIV
ing receipt for the same, and guarantee OF ten
| isfed with the transaction, from what he had
| learned of the differences in the manage
ment Of the Credit Mobilier and Union Pacific
| companies, and concluded to regard the transac-
ton as incomplete. He SO stated to Ames,
who consented to SO regard it, and an adjust
ment was therefore made. 1t was by contract by
her husband, and Mr.. Wilson had no right of in
terest therein, except such as grew out of those
facts Whether the action is or is not in law to
pc regarded as that of his own or that OF his wife
Is not deemed material. 1t is certain that the
| money invested was contributed by friends to his
wife, that he treated it as belonging to her, con-
sidering the investment for her beneft from it. and
| the money was finally repaid to and disposed of
by her Mr.. Wilson does not appear to have been
well informed as to the character of the Credit
Mobtller, nor does it appear that he was aware or
had reason to suspect that Arnes had any object in
| friendship. The Committee do not believe Sena-
| tor Wilson is affected by the transaction with
Ames, but they feel constrained to advert in this
connection to the fact that on the 18th OF Septem-
Der last Wilson authorized to be sent to the public
press of New York dispatch, which in effect is
regarded as an unqualified denial that he had ever
| obtained from Oakes Ames, or any other person,
the slightest interest in the CreditMobilier, and
to remark that the dispatch was calculated to con-
| vey to the public an erroneous impression.
| The evidence relating to Senator Harlan shows
| q transaction in 1865, while he was Secretary OF
| the Interior Department The transaction was not
In Its nature continuous and 1t does not appear to
| have influenced his actions as Senator since his
election, or that it was SO intended, and however
Il hA rNr,afff
OF money for the purpose for which, in this case,
| 1t was contributed and used, and, with whatever
Judgment, they would resist any and all attempts,
Dy the free use of money, to control popular ex-
preston they do not, however, refrain to remark
| upon the fact that Durant, cePresident of the
alton of Congress, which would probably be again
subject to legislation, contributed $4,000 with the
axoWed purpose OF its being used In securing the
States, he being, at the time of its receipt, Secre
| tary of the Interior This discloses an evil upon
| which the Committee cannot too severely aninad-
| vert. The use of large sums OF money to influ-
ence either popular or legislative elections strikes
directly at the fundamental principle of republi-
/ can government 1t undermines public and pri-
Vate virtue upon which alone republican institu-
tons can stand. 1t cannot be concealed that it is
one OF the threatening dangers to the permanence
| of our Government. While this receipt and use
OF money is open to censure, the evidence adduced
| TO prove that Senator Harlan was Influenced by
the gift thus made to him failed to establish any
| such results.
| In relation to Senator Patterson, the Committee
say QOQDL LQaL Patterson was IQe puI-
chaser of thirty shares of Credit Mobier stock in
1851 and that he received dividends arising thereon
stated and it only remains to be considered how
he would be affected as Senator by the facts had he
such knowledge of the relations of the Credit
Mob11er to the Union Pacific Railroad Company,
| and of the interests of Ames in connection with
this Company, and in the disposition of the stock,
as should have caused him to hesitate to enter into
this transaction, or to retire from it when once
| entered upon Assuming, at the date Of purchase,
in August 1857 that he was not well advised Of the
| nature of the investment he was making did not
| the same rumors which came to others who had
embarked In the same enterprise OF the differences
and difficulties that had arisen between the COM
panies, and which, at late date led to public de-
| bate in both Houses of Congress- come to him. he
retaining the stock and receiving his dividends
] Is 1t, then, unreasonable to presume that he had
acquainted himself with the character of the cor
poration in which he was stockholderS How are
we to account for the concerted efforts of both
parties to conceal from the public the transactions
when questioned, except from a consciousness
that 1t was something more and other than an orai
nary business affair between private individuals?
| The Committee further find that at q date sub
| sequent to that OF the purchase of the stock in
| the Credit-Mobilier, and at a period when the
! character of this Credit-Mobilier and relations
existing between it and the Union Pacific Railroad
| Company had become matter of public notoriety
and must become familiar to Patterson and while
he was in receipt of dividends from his purchase of
Ames in stock and bonds of the Union Pacific
Railroad Company, and disposing of the same in
the stock markets in New York through his bank
ers there. The Committee find, on the statement
of Patterson before the Committee of the House of
Representatives, as before this committee a con-
Trajectory relation of transactions between him
self and Ames, the suppression of material facts
| and denials of other facts which must have been
known to him when first called before that Com
| mittee. They cannot escape the conclusion that
Patterson, being Senator of the United States in
1867, contracted with Oskes Ames then and still a
member of the House of Representatives for the
purchase of thirty shares in the stock of the Credit
Mobllier OF America at rates greatly below its
| esteemed value, and subsequently came into pos
| session OF the same; that he received dividends
| which from time to time were declared thereon. .
that he subsequently, in the year 1857 dealt with
Ames to large amount in stock and bonds of the
Union Pacific for the purpose of profit and disposed
| OF some stocks in the markets of New York with
the knowledge OF the character of the Credit Mo-
bilier and its relations to and its conpections with
the Union Pacific Railroad Company; and further
that he had the knowledge of the interest of Ames
and his connection with said COMPANY; also that
| the object of Ames in this dealing with him was
| of the said Companies and his own Interests
therein, and to influence his action as Senator in
the matter of legislation affecting the same; and
| further, being inquired of in relation thereto
gress he gave false account of the actions between
| himself aud Ames; suppressed material facts and
denied the existence of other material facts which
must have been known to him.
Inc Commlttee have reached the conclusion,
a1ter tne most attentive consideration and anxious
| dehberauons, which they would fain wish were
| otherwise, but which a sense of duty compcls
them to declare.
They submit the following resolution:
| ResokUed, That James W. Patterson be and he
is hereby expelled from his seat as a member in
| the Senate.
The report is unanimous.
The Committee consists Of Morrill, (Me) Chair
man, Scott, and Wright, Republicans and Stock
| ton and Stevenson, Democrats.
|
| Cars run from JOppa to Jerusalem in