Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-01-15
WASHINGTON.
he Progress of Investigation.
L0niaiaua,

Louisiana.
WASHINGTON, Jan. 1.-THE House
Judiciary Committee to-day deferred actor
on New Orleans matters until the docu
ments submitted yesterday are printed.
Southern Claims-Easf Tennessee I'm
iveEsiiy.
The House Committee on Claims to-day
agreed to the Senate bill appropriatine
something like $270, 900 for the relief of the
Loudon county, Virginia, claimants, whose
property, principally live stock, was taken
by order OF Gen. Sheridan and sold and the
proceeds covered into the Treasury.
They also agreed to the bill for the relief
of the East Tennessee University, paying
SI9,500 for the property used and occupied
by the United States army.
Kansas Corruption.
The Senate COMMITTEES on Elections this
morning continued the investigation OF
Senator Caldwell's election. Messrs. Wood
and Finney, members of the Kansas Leg
islature, were examined. Mr.. Wood testi-
fed that Mr.. Thomas offered him s., 900
to vote for Caldwell, and that subsequently
certain friends of Sydney Clarke offered to
give him $1,000 and a saddle-horse worth
$500 if be would vote for Mr.. Clarke. Wit
ness did not take either offer.
The Scheme 20 Contract the Currency.
The COMMITTEES on Fi1ance to-day 1e
ported to the Senate as follows: From a re-
view of the several acts relating to United
States notes, the committee concludes that
the intent and legal effect of these acts,
when fairly construed, was to reduce the
| Of Local fp GQER (l0
! 900. No one appears to have asserted that
the Secretary had the power to increase
| that sum. The csre with which maxi
mum was always prescribed indicates the
| intention of Congress to preserve one. The
| only contingency for excess was to tempo
rarily to meet a temporary loan, and by the
act of April, 1866, the temporary loan was
! funded. The circumstances under which
this Issue of five millions was made were
such as would clearly have justified its ex-
ercise if, as was honestly and conf
IDENTIFY claimed by the officer who
authority 10 make it. As TO the extent of
power conferred by law in matters which
affect the public credit or public securities,
a reasonable doubt as to the grant of power
should be held to exclude it. Afver careful
review Of the subject your committee are
of opinion that the Secretary of the Treas
uIy has not the power to issue United States
notes in excess of the $356,000,000 out
standing when the act Of February 4, 1866,
took effect, but be may replace with new
notes all mutilated or defaced notes, and
within the limits of $356,000,000 may ex-
change or replace new notes for old ones.
Senators Wright of Iowa, and Ferry Of
Michigan, will submit minority report,
dissenting from the report of the commit
tee on Mr.. Scott's resolution relative to the
issue of legal tenders in excess of 356
mill Gns.
Credit tMObiIter--GRrfieEd on the Stand
In the Credit Mobilier Committee to-day
Chairman Poland decided that the records
of the War Department, asked for by Mr..
Brooks, TO show the character of McComb,
were foreign to the subject under investi-
cation.
Nelson, Brooks son-in-law, testified that
be borrowed 5000 of Dillon after six
months acquaintance and without any pre-
vious business transaction, giving Dillon
Union Pacific stock as security. He was
told by Brooks that he was entitled to fifty
additional shares of Credit Mobilier.
James A. Garfield was sworn, and offer
ed the following statement:
The first time l ever heard of the Credit
m2bilier was some time in 1866 or '67,
CANNES fix date, when Geo. Francis Train
called on me and said he was organizing q
company to be known IS the Credit Mob
iier of AlueriCa, to be formed on the model
of the Credit MCbilier of France; that the
object of the company was 10 purchase
lands aud build houses along the line of the
Pacific railroad a. points where cities and
villages we're likely 20 spring up; that he
had no doubt that the money thus invested
would double and treble itself es sch year;
that subscriptions were limited to $1,000
each, and he wished ne 10 subscribe. He
showed me q long list of subscribers,
among them Oakes Ames, 10 whom he re-
ferred me for further information concern
ing the enterprise. l answered that l had
not the money to spare, and if had |
would not subscribe without knowing more
about the proposed organization. Train
left me saying he would hold
a place open for me, hoping L would yet
conclude to subscribe. The same day
aSkedAmes whathe thought of the enterprise
He expressed the opinion that the invest
ment would be safe and profitable. heard
nothing further on the subject for year or
more, and it was almost forgotten when at
some time, l should say, during the long
session Of 1858, Ames spoke of it Fgsin.
lie said the company had organized, was
doing well, and he thought would soon pay
large dividends. He said that some of the
stock had been left or was TO be left in his
hands to sell, and could take the amount
which Train had offered ne by paying
$1,000 and accrued interest. BE said if
was not able to pay for it then, he would
hold it for me until could pay, or until
some of the dividends were
payable. L told him I would consider the
matter, but would not agree to take any
stock until | knew from an examination of |
its charter and the conditions of subscrip- |
ton the extent TO which | should become |
pecuniaIilY liable. He said he was not sure, |
but thought a stockholdsr would be liable |
only for the par value Of bis stock; that he |
had not the stock and papers with him, but |
would have them after awhile. From the |
case as presented, l probably should have
taken stock if | had been satisfied in re-
gard 10 the extent Of the pecuniary liability.
Thus the matter rested for some time-I
think till the following year. During thst
time ! understood there we're dividends due,
amounting to three times the par value
Of the stock, but in the meantime | had
heard that the company was involved in
some controversy with the Pacific railroad;
and that Ames' right TO sell stock was
denied. When | next saw Ames l told
him had concluded hot to take the stock.
Then the matter ended so far as l was
concerned, and L had no further knowledge
of the company's operations until the sub
ject began to be discussed in the New York
papers last fall Nothing was ever said to
me by Train or Ames to indicate or imply
that the Credit Mobiier was or could be 10
any way connected with the legislation Of
Congress for the Pacific railroad or for any
other purpose. Ames never gave nor offered
to me any stock or other valuable thing as
a git. l once asked aud obtained from
him and afterwards repaid to him loan of
three hundred dollars. That amount is the
only valuable thing ever received from or
to him, never owned, received
or agreed to receive any stock of the Credit
Mo5iIer or of the Union Pacific railroad,
lor any dividead or profits arising from
either Of them
Hama BOoksKeePer Who Doesn't
Keep His EOOks.
Benjamin +. Ham, Treasurer Of the
Credit MObilier, was sworn, and underwent
4 long examination. He testified that
Nelson's name appeared on the books as
ba bCIdor of 1S0 sbyrac ni6n,t EyDOu nf