Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1873-02-10

| statement OF Mr.. wilson, with no lear tnat
the latter will not be believed.
HON. RENRY WILSON'S TESTIMONY
BEFORE TIE CREDIT M0BILIER
COMMITTEE.
| Henry Wilson, United States Senator from
Massachusetts, sworn and examined:
| Question by the Chairman: The committee
wish you TO state in reference to any negota-
tons or transactions between you and Mr..
Anes, In relation to the Credit Moblier.
| Answer have no written statement to
make. received your invitation yesterday.
| came here this morning in response to it, and
a,u ready to answer any questions or make
| any statement Of the facts in the case. Mr.
Amcs did not come to me to offer any of his
stock. We boarded at the same house, and
efen sat At the same time. l had some time
before purchased of him two railroad mortgage
bonds of Iowa roads one was bond OF the
Cedar Rapids road, and the other, think, was
the Chicago and Nebraska road. They paid
seven per cent. interest, and were bought for
80 cents on the dollar. They were purchased
| for my wife, and with her money, which had
| been presented to her on the 9th of October
| 1865, the twenty fifth anniversary of our we'd
ding. During my absence from home, and
without my knowledge, my neighbors and
| acquaintance in the eastern portion of my
| State made extensive arrangements to cele-
brate our silver wedding. l was sent for to
come home. There was q large gathering
from my town, from Boston, and other por-
tons of the State. Many small presents and
testimonials were presented to my wife, and
silver service was presented by my towns
men to myself Before the company separa-
ted package was presented to my wife,
think by Governor Ciafiin. which was found
| to contain SO 800, with a letter and list of
subscribers, containing a request that she
would accept it as giftto herself. The SUBJ
serptions ranged from $50 to 5000 each, and
were made by such men as Governor Clat1in,
Mr. Summer, and Amos A. lawrence. Mr.
Ames was down FOR $500, and Mr. Alley for
$780,
This money, given TO my wife, determined
should be sacredy hers, and that l would
never receive a dollar of it. was the more
resolved on this course, because a paper in
New York had criticised its acceptance. One
thousand dollars of it had been invested by
my wife on my advice, where it was all lost
| At the time | was in debt several hundred
dollars, but rs soon as l could refunded the
money she had lost through my advice. In
December, 1867, or early in 1868, my wife or
my self spoke to Mr.. Ames about purchasing
one or two more of the Iowa railroad bonds
Mr.. Ames had not then any more of those
bonds to sell, but could sell her stock that he
believed would be of more value, which, he
said, was the stock of the Credit Mobilier.
l knew nothing of its origin, its history, or its
value, and would not have given fifty cents on
the dollar for it. l told Mr.. Ames that be-
lieved that much of the money put into the
Pacific railroad would be lost; that l had,
years before, spoken and voted in favor of
building the road as measure of great ma
tional Importance, though l believed much
money would be lost in its construction. Mr..
Ames said that he would guarantee the stock,
and that it should pay ten per cent, on con-
dition that he should have one-half of the ex-
cess, if any, and that Senator Grimes had
bought some of the stock on the same condi-
tons. l asked Mr.. Alleys advice. Mr.. Al
ley said that Mr.. Ames valued the stock high.
er than he did, but that it was safe invest
ment with his guarantee. My wife and
myself concluded that $4,000 of her money
should be so invested; and in a few weeks
afterwards the money was paid to Mr. Ames,
and receipt or paper was taken, with the
promise that he would sell her twenty shares
of the stock. The stock was never delivered,
and neither myself nor wife ever received or
saw share of ii.
Before accepting Mr.. Ames' offer, l asked
him if any more legislation for the Pacific
railroad would be required, and he assured me
that there would not be. l told him l had
made it an infexible rule of action never to
buy any property that might be affected by
legislation, nor to use any information I had,
as public man, in making investments.
do not say it is wrong for other members Of
Congress to own stocks in banks, railroads,
manufactures, or to purchase land or the
public securities. Every one must judge for
himself in those matters. Ny position was a
peculiar one. Having learned in early life
that q poor man can Hot do what rich man
can, and that a lawyer can do what an un-
professional man can no. do, made up my
mind, when / came here, tina. would pur-
chase no properly tia: could be affected by
Legislation. ] knew, when elected, that
should come here, ii not under temptation,
under the liability of being watched and crit
icised. / came into the Senate from q me-
chanic's shor. had home that cost me
abou, 81 900. was doing small business,
and soon found that must leave the Senate
or abandon it. | closed my business, paid
toy debts, gave my wife deed of my home,
and had less than 81 900 left, with no profess
zion, no capital, no business, no partnership.
| Compelled 10 live with the strictest economy,
/ applied rules of action to myself that did
not apply 10 others who had professions, or
capital, or business associations; and during
nearly eighteen years the only investment
have made has been the purchase of a house
lot in the town ! live in for $50, which /
sold four or five years afterwards for $500.
Some months after Mr.. Ames received the
money l saw something in the papers con-
corning differences among the managers of
the Credit Mobilier and of the Pacific rail-
road. Iasked Mr.. Alley and one or two other
gentlemen what those reports meant, and
whether legislation would not grow out of
those controversies. told him that should
regard tho transaction as incomplete; that
should have the receipt given up and the
money returned. l said the same to Mr..
Ames. He laughed at me, and thought was
doing very foolish thing but said he would
take the receipt and return the money. A
short time afterward he did 90. The amount
ofproft on the transaction, including interest
and dividend, was $s14. This, with the
original investment, belonged to my wife.
That amount, on settlement, was allowed to
me by Mr.. Ames, so that in reality there was
received from him the amount which was
originally paid him. The SSl4 my wife re-
ceived came from my own earnings. Mr..
| Ames said there would be due he thou pht