Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1873-03-07
Report OF the Senate Credit-MObllIer
Committee.

Report Of the Senate Credit.MObllIel
Committee.
WASHINGTON, February 81.
Having examined the testimony taken before tn
House Of Representatives, and heard the statement
OF Senators in relation thereto, and taken such tes
tmony as was acceptable tending to shed ligh
upon the subject matter, and having attentivel,
considered the same, the Committee in the rst in
stance present the facts as ascertaiued touching
| each member of the Senate. In the list OF member
OF the Senate supposed to be affected by the evi
dence taken by the Committee OF the House o
| representatives is the name OF John A. Logan. II
December, 1857, Logan made an arrangement will
| Ames to purchase ten shares Of stock commonly
| known as shares Of the Credit-Mobilier OF Amer
| ica upon recommendation OF Ames that the stool
| was valuable, and payment could be made in con
sideraton Of agreement at any time. and the stocl
| was never delivered. In June following, Amei
| showed Logan an account In which he credited hin
with two dividends, arising on the stock subsequent
to its purchase from which he deducted 81 0OO th'
price of the stocl', and gave Logan check on the
| Sergeant alarms OF the House for the balance
S32g which check was paid on the 10th OF July FOL
| lowing. Having become doubtful whether II wai
good stock, or whether there would not be diff
Guilty about IT. Logan repaid Ames the amount OF
| money received on the check and interest thereon
stating to him that he had concluded not to take
| the stock, which Ames consented, and here the
transaction ended Logan having no further Interest
| In II. 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
~ possess jurisdiction over acts happening Oeiort
| his election to the Senate, a question on which
| under the finding Of the Committee, II Is uRneces'
sary to express an opinion.
lnthe record from the House OF Representatives
| is the name Of Roscoe COnkling, member OF the
Senate, Conkling does not appear TO have been
connected In any way with stock OF the Credit
Mohilier, or OF the Union Pacific Railroad Com
ANY, 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
shares Of Credt-Mobilier stock paying therefor in
cash S2,O0n which belonged to his wife, Ames Civ
ing receipt for the same, and guarantee OF ter
per cent interest thereon. Wilson became dissat
| ished 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 regard 1t, and an adjust
ment was therefore made. II 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
DC regarded as that of his own or that OF his wife
is not deemed material. II is certain that the
money invested was contributed by friends to his
wlfe, that he treated II as belonging to her, con.
sbIdeTing b the investment for her henet from Il and
by her. Mr.. Wilson does not appear to have been
well Informed as to the character of the Credit
@t5 % a0es s baS nd %sS ec
commencing the investment other than that OF
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 Credit Mohilier, and
to remark that the dispatch calculated to con-
Vey TO the public an erroneous impression.
The evidence relating TO Senator Harlan shows
transaction In 1865, while he was Secretary OF
the Interior Department The transaction was not
in It's nature continuous and 1t does not appear to
nave Influenced his actions as Senator since his
election or that 1t was 30 intended, and however
strongly the Committee would deprecato the use
OF money for the purpose for which, in this case,
II was contributed and used, and, with whatever
Judgment, they would resist any and all attempts,
by the free use of money, to control popular ex-
preston, they do not, however, refrain to remark
upon the fact that Durant, Vice President OF the
Union Pacific Railroad Company, corporate Gre
alton of Congress. which would probably he again
subject to legislation, contributed $4,000 with the
avowed purpose OF It's being used in securing the
election Of Harlan to the Senate OF the United
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 animad-
vert. The use of large sums Of money to inhu-
ence either popular or legislative elections strikes
directly at the fundamental principle OF republi-
can government. 1t undermines public and pri-
yate virtue, upon which alone republican institu-
tions can stand 1t cannot be concealed that 1t is
one OF the threatening dangers 10 the permanence
OF our Government. While tins 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 .. E ..f
In relation to Senator Patterson, the Committee
say there is little doubt that Patterson the pur
chaser Of thirty shares Of ditMobiier stock in
1901, and that he received dividends arising thereon
as stated and Il only remains to be considered how
he woud be affected as Senator by the facts had he
such knowledge of the relations OF the Credit.
Mobiier 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 10 hesitate to enter into
this transaction, or to retire from 1t 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
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 II, then, unreasonable to presume that he had
acquainted himself with the character OF the cor
pOration in which he was a stOckholderi How are
we to account for the concerted efforts OF both
parnes1o conceal from the public the transactions
when questioned, except from Consciousness
that II was something more and other than an orai-
nary business affair between private individuals :
The Committee further find that at a date sub
sequent TO that Of the purchase of the stock in
the Credt-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 not0riety,
and must become familiar to Patterson, and while
he was in receipt of dividends from HIS OF
Credit. .Mobilier stock he was still dealing with
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
mttee. They cannot escape the conclusion that
Patterson, being asenator Of the United States in
1850, contracted with Oskes Ames then and still q
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 It's
esteemed value, and subsequently came into pos
session OF the same; that he received dividends
which from time 10 time were declared thereon; !;
that he subsequently, in the year 1851 dealt with
Ames 10 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-
bier and Its relations to and its connections with
the Union Pacific Railroad Company; and furth VI
that he had the knowledge OF the interest of Ames
and st his c9nneEtlon With said GYmpany also, that
to secure his friendly recognition OF the interests
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
before the committees OF both branches of Con-
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 10 him 7 TT - -
The Committee have reached the conclusion
after the most attentive consideration and anxious
deliberations, which they would fain wish were
otherwise, but which sense OF duty compels
them TO declare.
They submit the following resolution:
ReSokOed, That James w, Patterson be and he
% hereby expelled from his seat as a member in
the Senate ttN N
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