Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1873-02-07
." The Credit Mobilier of America"

The drop curtain that has shielded the
star actors in our National Theatre atWash-
ingion for few years has been suddenly
raised, and the audience treated to peep
behind the scenes. The play that seems to
have enjoyed the greatest popularity-con
sequensly the longest run-was "The Credit
Mobilier of America" !" or, "Thc Forty
Thieves" According to the usual custom
of stage managers, the audience is first
treated to Tragedy, followed by rousing
Farce to dispel the gloom of the fearful
sacrifice OF hnman life but in this in
stance the Farce, entitled "Secret Investi-
CATION" was presented but was Missed from
the stage by the public audience. Then
oame the Tragedy, which hns had a sue
eessful run for several weeks, the results of
which he who runs may read. The slain,
which promises to be about an equal num-
ber from each party, will soon be ready for
burial. Let there be no political resurec-
ton for these men.
This "Credit, Mo6Iier of America" of
which we have but limited Information
concerning its Tor their) tranactions, seems
from late developments to be an organiza-
tion of men and means to labor with and
corrupt public officials for the purpose of
getting at the public crib. 1t was created
by an act OF incorporation passed by the
Legislature of Pennsylvania in 1859, under
the name of pennsylvania Fiscal Agency"
its object being "to buy and sell railroad
bonds, advance money to railroads and
contractors, make contracts" etc, and in
deed its franchise is so comprehensive that
II is authorized to do almost anything of
financial nature except banking and issu-
ing bills. In 1864 it was sold out to
GEORGE FRANCIS TRAIN and others, when
its present fancy appellation was given it
by TRAIN, it being the same as that pos
sessed by French organization OF similar
character doing business in Paris, and the
change of name was ratified by supple
mental enactment of the Pennsylvania
Legislature The capital was originally
fixed at S5,000,000, but in 1868 it was sta
ted as being S3,75O,oOO, upon which within
the short period OF seven months there was
declared cash dividends amounting to So
S75,o00 and $3,s62,375 in Union Pacific
railroad bends. The source OF this i'm
msnse gains was the Union Pacific rail-
road, the building and after management
OF which the Mobilier sharpers got control
OF. While thus enriching themselves they
failed to even pay interest on the bonds
they were dealing out SO literally, and the
Government being responsible therefore
had to make payment-and to recover the
money thus paid out, and other large sums
out OF which the public treasury has been
ilheced is the object Of the appointment OF
Il Congressional committee to examine into
the affairs OF the company, and steps taken
looking to prosecution OF the members of
the corporation with view of forcing
them to disgorge their ill-gotten gain,.
The obvious purpose of the managers Of
the concern in desiring TO place some Of the
stock at a nominal price in the hands OF
Mr.. BRooKsa and other influential Congress-
men was to fAvorably influence legislation
on matters pert lining to the Union Pacific
railroad, in the affairs of which they were
50 largaly interested. What they have
accomplished in this respect, the people
ore now finding out.