The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-01-15

Some Plain Facts About the Credit
Mobilisr Corruption-Wtl tho Impli-
Gated Congressmen Resigns
1t is about time that the people of the
United States should understand the true
character of the Credit Mobilier transactions
in the investigation of which the Congressional
committee, presided over by Judge Poland. is
now engaged The testimony taken by the
committee yesterday, and the comparison OF
the statements made by the implicated Con-
gressmen before and after the recent election
which will be found in to-day's HERALD must
be sufficient to satisfy every Impartial mind
that the whole business, from first to last. has
been foul with corruption, and that the expose
is one of the most disgraceful ever known in
the history of dishonest legislation. We are
told that the ostrich, when it buries it's head
in the sand. believes that its whole body is
successfully concealed from view. The Con-
gressmen who were debauched by the Credit
Mobilier Ring have displayed q voracity and
power Of digestion equal to those of the ostrich,
and it is possible that following the peculiar
characteristics of that singular bird. they i'm
agine that the deliberately prepared confessions
which they have, one after another, read
before tho committee. will blind the eyes
of the people TO- the true character of
their acts. They will find themselves de-
ceived No amount Of sophistry. NO special
pleading no ingenious attempt TO conceal the
revolving features of bribery and corruption
behind the mask of pure business transactions,
will cover up the fact that they were tempted
by the offers of Cakes Ames and the prospect
of large pecuniary advantage to betray their
trust as representatives of the people.
Look at the plain facts of tho case. Tho
Union Pacific Railroad is q corporation aided
by the government of the United States and
responsible to the government for it's honest
and proper management. To guard tho pub
lilo interests in tho corporation q GER
tain number Of government directors
are appointed ON the Board, In
addition to those duly chosen by the
stockholders. These representatives of the
government in the direction are in fact trustees
acting on behalf of the people. '.ring'' of
directors is formed, and it's members, as stock
let themselves the contracts for building the
road at price enormously above tho just cost
of the work, and in other ways plumber the
Union Pacific Company out Of millions of
dollars. In order to carry out this conspiracy
successfully it is necessary to secure the
friendly cooperation of the active government
directors and the friendly silence of Congress.
An exposure of their plot would inevitably be
it's defeat, for they are in the power of the gov
eminent and Congress of tho United States
The active members of the "ring" take cor
tain shares of the Credit Mobilier stock, worth
eight or ten times its face, which are entered
to their credit on the books as ''trustees" and
these shares they sell at par to the members of
Congress in the most prominent positions or
likely to be the most troublesome as enc
mics on the floor. When Congress-
man has no money they advance him
the amount of the nominal payment
or take it out of the heavy dividends, which
are made almost as soon as the .'sale" is COM
pleted. The members thus favored become
the unsophisticated language of Cakes Ames
it has become their interest to 'look into the
business" and they are so well satisfied of its
merits that they can be relied upon to put
parliamentary quietus upon all announcement
inquiries that may be started by outside par
ties.
This is the plain English of the transac-
tion and there is no manner of question or
doubt that if no quarrel had taken place be-
tween the members Of the ''ring,' if no law
suit had been commenced which was certain
to bring all the transactions Of the company
before Court, if no facts had been brought
to light during the campaign, every dollar of
the Credit Mobilier stock placed by Cakes
Ames would have remained in the pockets of
the Congressman to whom it was assigned
The consciousness of guilt was upon every
Senator and Representative who had re-
'.ring," and it was this alone which
made many of them run like frightened sheep
as soon as exposure was threatened, and return
to their tempter the stock which he had
'placed' to them. The disinclination to be
involved in a lawsuit is o bald pretence The
suit feared by these holders of Cakes Ames
tempting shares was suit in the court of
public opinion. The judgment they dreaded
was the verdict of the people declaring them
to be the agents Of a corrupt job, bribed to do
its work on the floors of Congress. Why else
did they shrink from retaining the richly-pay-
ing investment they had made on the very
first iukling that the secret history of the close
corporation would be exposed in q court of
law2 Why else did they positively deny dur
ing the campaign all knowledge Of the Credit
Mobilier stock and lead the people to believe,
by their solemn asseverations, that they never
had any connection with the corporation,
directly or indirectly? Why else did they