Wilmington daily commercial. [volume] (Wilmington, Del.) 1866-1877, 1873-01-18
Saturday Afternoon, January %.
WHAT THE CREDIT MoBnIER INQUIRY
SHOWS.

The Credit Mobilier investigation is making
Huficisntly clear number of facts, OF vaIl0us
degrees Of importance. Firstly, We may name
one always we'll understood, but never before pr
fciaIly developed that the men who built the
Pacific Railroad made an enormous profit out o.
it. As I'd this, we are compelled to say that 10
opinion they were entitled to do 80. The risk Of
so gigantic work was very great. The enter
prise abilities and resources nece ssary to com
pie it are commanded by few. For yeare, the
construction Of the road had waited for men
equal to it's undertaking, and it was not until One
Inducements offered by the Government became
40 tangible and valuable as offered by
the charter OF 1854 that capitalists could
venture upon the undertaking. Those men,
who boldly commenced and successfully com
~pleted the most gigantic labor Of the Agerwere
entitled not only to some reward but very
large one. Fit be complained that the Govern
.meat gave them too much, il may be justly an
swered that they deserved much, and that The
advantages to the.country, realized by the Pacific
Railroad industriay, socially. and politically, is
beyond any estimate in money.
Nevertheless, the honeat HARVESTING of Che
Legitimate assistance offered by the Govern
ment to which Messrs. Ames, Durant, Alley,
Co. we're entitled, gave them no right to cor
ruptly manipulate the operations Of the Com
paoy, and to dishonesty prey upon it's finances.
This was in disregard Of their duty, and the
people who through the Government, hold the
second mortgage lien on the road, have the
right to inaist that such Wong to be redressed.
This We understand to be the business under in
curry by the second Committee Of investigation
which Judge Wilson, Of Indiana. heads and dl-
reefs.
A second fact shown is that the statements
made by Colonel McComb, as to what oakes
Ames, in writing, and verbally, told him, con-
corning his (Amss) operations with Credit No
bilier stock, were correct to the letter. Mr.,
Ames did say what Colonel McComb testified.
aud the accuracy Of the latter on this question,
irnpeached, and denied, by various parties, du-
ring the last few months, is established. More
over. Colonel 'McOomb has borne himself
throughout the investigation, with degree Of
courage and consistency which challenges re-
spect He has faced all those who. intended to
put him under foot, with so much boldness and
nerve that they have gathered no laurels from
the attempt.
We say nothing, here, as to Colonel McCombt
partnership with others in the Credit Mobiller
He joined, early in the work, to aid in building
the Pacific Road, and was justly entitled to
large ahare Of the reward. We shOuld be sorr.
to ind him inculpated in any Of the practice
which We have called g manipulation" by ahicl
tie profits Of constructing the line or III
rnAtelv increased, and nothing in the evidence, a
far as We observe, attaches such blame 10 lin
the Z. IL stocKv the inquiry shows tina
little or nothing Of the sort done
There were certain members Of Congress, who
as large capitalists we're among the protector
and builders Of the road. These included Nj
Anes, Mr.. Alley Mr.. Hooper, General Dodge
and perhaps one or two more. Their connectio
with tho work was unconceAled, and certsinl
understood. That they should hold largely 0
i'redit Mobilier stock was neither surprising. no
essentially improper. But beyond them. til
only members Of Congress who are ''pinched
be- the investigation, arc Mr.. James Brooks,
New York, shining light in the Democrat
party, and the conductor Of one Of the leadh
Democratic newspapers Of the country al
Mr.. 3. NJ. Boyer, OF Norristown, Pennsylvania
democratic member Of the 39th and iJth Co
cresses.
Beyond these, the gentlemen named in Il
famous "memOrandum' Of Mr. AmeH are clear
from every sort OF fair suspicion. Several
thoIa never took or undertook to take, in a
way whatever single share Of the stock of
Credit Mobilier, and all, with perhaps
pingle exception, have shown plainly IL
they hold the stock, while they own
II all, legtimAtely, and honestly, a
mt it out OF their hands as soon it becar
apparent that it was not all investment prop
Tor them to hold. The full statements ma
before the Commit 9 Of Inquiry clear Il
charges up most completely and in mani
most gratifying, not only to their friends, a
to the Republican party, but to the country
whose Congress they sit.
We confess to deep interest in this resi-
Charges Of corruption against men so belo'
and respected as Henry Wilson, Schuyler Coli
aud George s. Boutwell,, are no ordinary aft
aud their conclusive refutation is no ordin
cause for rejoicing.