The sun., 1873-04-21
Summing Up OF Credit Mobilic,.

Avcf.so Of IN, rte.ious week ........ iii;Si
Summing Up OF Credit Mobilicr.
The plan with which we started out Of
nnalyzing the testimony in each case of
Credit Mobilicr may be considered as COM
plete without review of the cases of
BRooKs and ANEs in the House. or of Col
FAX and PATTERSON in the Senate Their
criminality Is well understood by the whole
country, and n verdict of guilty has been
pronounced without regard TO party.
But the infany of these men really differs
only in degree from that of their con-
federates. They were all alike engaged
in the same corruption, aud pursued their
venal interests with equal zeal.
This business originated with the change
Of management in the Union Pacific Rail-
road, when the AMEsrs. ALLEY, and the
got control of all the franchises. The
dates OF the different events in this pro-
ceeding are important links in the chain
OF evidence, and help to make clear GER
tam facts which have hitherto been OBJ
sctred in doubt. What is called the AMEs
contract for building GG, miles OF the road
at enormous prices was accepted Aug
1G, 1861, and assigned on the 18th of Oc-
tober to seven trustees, for the benefit ot
the Credit MOhilicr stockholders. Subse-
quently another contract for l25 miles on
the same terms was also assigned To the
sn'n" parties The books show that the
dihercnCr between the price charged To
the Union Pacific road for construction
and the cost 10 the contractors exceeded
thirty millions Of dollars, which with
twelve millions of profit IN the first or
HOME contract. serves to explain the
fabulous dividends of the Credit Mobilier.
The foundation Is thu, laid in August
aud October, 1867. Mr., AVIS was then a
member of Congress and had been for sew
sral years lie was known there as "A rich
manufacturer, and was much courted by a
class of associates who were seeking good
Investments for their votes and iniu-
ence. They had already heard of the
exOrbtant profits derived from the UoXIE
contract and divided among the holders
OF Credit MoOilicr. When II became
known that AMEs and his party had nc
quired possession, with the immense con-
tracts and subsidies, these kcen-scentcd
terest. When interrogated whether he
had promised shares TO all the members
mentioned in the now famous list he an
swered, IL cannot recollect. There were
80 many who talked to me about getting
ali interest in 1t when they began to think
IL was good thing He thought they all
solicited to be let in, and being asked how
long il was before the stock was allotted
to him for distribution that these cCnversa-
tions occurred, he said probably Il few
months before"
II thus appears that these members OF
Congress were on the trail months be-
fore the stock was parcelled out. AMEs
knew that such huge monopoly, with its
excessive dividends, would excite jealousy
and hostility, and all that he and his allie,
wanted at that time was To- be let alone by
Congress, to secure influential friends foI
any emergency, ana to nip in the bud all
inquiry which might disclose the sources
Of their wealth. Hence he obtained Il lal =,
number of shares, To he placed for that
purpose AT his leisure. But rs soon a-
Congress assembled that year Mr.. WAsII-
DrRNE of llluoi, opened "A crusade on Ia,
9th OF September lsG,, two months after
the AMEs contract was assigned, which
threatened riOus results. His brother
the Hon q. C. WAsuBURS Of Wisconsin
followed il up soon after; but these effort,
were finally slcuccd by the combination
on the floor, aided by the parliamentary
tricks OF MI CoLFAX in the speakers chair
The alarm was at once sounded, and thrI
the stock was Immediately distributed il
L. l.. Iittf
Republicans of the House. II wa, undr
this pressure that ANEs wrote from Wash
ington TO McCuMB, Jan. 25, 1865,
have assigned, rs tar as hare gone" Ger
tain shares to various States. adding, "th
nifty per cent, increase on the old stock
want for distribution here and SOOn.' J
few days later he was more urgent. "Il
view Of WAsHBURNE's move here, 20 il
for making our bond dividend in full.
And again, on Feb. ~, he tells him, ."
want that $4,000 increase of the Crcdi
Mohilier to sell here. We want nor
friends in mis- Congress-"
The motive for placing the stock "wher
u would do the most good is thus clearl
revealed IN these various letters. And I
rivet III" relation between II and the di,
trbutlon which followed more strongly
the record shows that every share of tn
stock tor Congress was assigned Mt th
very time. II was issued IN January, i
blocks of thirty, twenty, and ten share
upon which dividends Of 50 per cent
Union Pacific Railroad bonds, worth 3
and 100 per cent in Union Pacific Raj
rond stock, worth ahont 80 or 40 u,
cent, had already been declared.
.f