Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1873-01-19

wirh McComb, who was actuated, as
understand, by what he denounced 9s
gross injustice practiced on him by the
Companyy and it was well known to
both of them, Is K was to every
body, that my connection wi
| Congress would end with my
third term. Reports of testimony
given before the committee, as pub
lished in the newspapers, show that
McComb has testified that he had been
requested to let me have some of the
Cre'ilt Mobilierlstock. Not one word
Of this ever came to my knowledge
from him (Ames) or from any other
person except as / have related in this
statement, and ! desire here to recall
the fact that when the transfer above
related occurred, the whole country re-
sounded with the praises Of the energy
manifested by the constructors of the
Union Pacific railroad. The completion
of the road brought to the surface con-
teRtions and quarrels among the parties
who held the secrets and power of the
Credit Mobilier. These developed facts
which now give direction and tone
to public Judgment, but they were
not those with which to meas
ure the motives and actions of
men who acted under the former
state of facts, with no suspicion that
they were not true, and would not con-
tinue true to the end. The very fact
that Mr.. McComb threatened TO carry
his claim to the courts was of itself cal
culated to allay any suspicion of fraud
or wrong in the affairs OF the company,
for such a suit would of necessity bring
to light the whole history of the opera
tions of the company. ] wish to say in
conclusion, that when / entered Con-
gress in 1861, did so as a representa-
tive ofmy constituency who were unani-
mously in favor of the construction
of railroads to the Pacific. My
predecessor had been Chairman of the
Committee on the Pacific Railroad; to
his effort in favor Ot the construction of
such aToad he owed his last election TO
Congress; nv district at that time en-
braced nearly one-half of the State of
Iowa, and extended from the Mississippi
TO the Missouri rivers; / desired to Sc
cure the location Of the road so as to
have it commence on the western
boundary of my district, and thus
secure a connection with four Iowa
railroads then projected and in
course of construction, The bill of 1852
secured this result, and l supported it
earnestly. / supported the bill of 1854,
believing the representations made as to
its necessity to be true. | worked as
efficiently as l could to promote the in
terests of the section of the country /
was representing; I was the pro-
nOunced friend of such legislation, as it
would tend 10 develop that great West
ern country; / regarded the Pacific
as the greatest of all measures
to effect that result; believed
it would hasten the construction of
several roads projected through Iowa,
and thus secure to our people at an ear
ly day the facilities for transportation so
much needed to promote the growth,
prosperity and settlement of the State.
The result proves that my judgment in
this respect was not at fault. Consider
what that country was a decade ago and
what it is now, and l ask for no more
perfect justification of the support which
| gave to the measures and legislation
which have produced this result.
Mr.. Wilson, turning to Mr.. Ames,
asked him if the statements which he
had Just made relating to him were true.
Mr.. Ames replied that they were.
Mr.. Wilson then asked Mr.. McComb if
The statements relating to him were
rue, to which Mr.. McCOmb replied that
hey were most emphatically. Witness
hen testified in answer 10 a question of
Judge Poland, that he sold his stock
carrying the dividends with it, and to
he best of his memory he realized a
profit of three thousand dollars; knew |
nothing about any other members of
congress having held stock. As Gov !
.rnment Director of the Union Pacific |
Railroad, he desired to enter his protest /
low against the reports going round the |
country that the Government would |
ose its investment in that road; he had /
10 doubt that the road would be 1
.ble to pay back every dollar. Ames, |
McComb, nor any one else, attempted |
% influence the action of witness as |
1 member of Congress; he did not know |
1t first whether he had profit or loss on |
he stock. Would act again exactly as |
ne did under the same state of facts.
BY Senator McCreeTy-The witness
was in Senator Grimes room when |
Oakes Ames came in and asked Sena- |
or Grimes to take twenty-five thousand |
iollars worth of stock in the Credit Mo |
lIlier. Mr.Ames said to Senator Grimes:
. We must raise money. If
you will take stock, / will |
guarantee you ten per cent. Of your
money providing you will divide all
profits of over ten per cent. with me-"
irimes replied "well, / am satisfied with |
EN- per cent. on my money" "and agreed
o invest.