The sun., 1873-05-21
Schuyler ColfaI and the Credit
Mobilicr.

through the same ordeal, received the
ZANE judgment frorl their peers, and by
sad and solemn coincidence, even in death
were not divided. They have both gone
to an account which seals the lips of
human criticism. Let MS turn 10 the living,
who are still answcrablc to public opinion
FOR their mislcels. Among those who
figured in this scandal, none emerged from
" with more discrcdit than SCHUYLER
CoLFAN, because he sought to dislrm sus-
picion by pretended morality which has
proved to be nothing but hypocritical cant
and artful kuavcry. OF the wdole crew,
he was the most corrupt, base, aud rotten.
lie betrayed confidence, prostitutc1 olIcc,
IND sold honorable trusts for money.
IL is fitting that his case should he con-
sidcred calmly now when all passion has
sub'idcd, and the plain facts cannot be
distorted by partisan fe ling or on ,ial in
nucncc. The lesson which 1t teaches is full
Of instruction. when the exposure was
made in THE SUN last fail, Mr.. CoLrAx took
an early opportunity TO deny in broad
terms any connection with the Credit Mo-
bilier; and he left on the public mind nm
impression Of having been grossly wrong a
Wy iitt lllDulullOu WI HIS EOOu tliIlt.
The French say it Is the first step which
costs. That was his first falschood in this
business, and il has cost Mr. CoLFAx all the
reputation that ne had previously acquired.
Soon after the investigation was ordered,
and Mr.. AMEs had made his initiatory de-
vclopmcntS, MIR. COLFAX appeared before
the committee with n written statement
which differed very materially from that
at South Bend three months previously.
let him speak for himself ,see page Il of
the Report:
81 state explicitly that no one ever gave or
or offered 60 give me any shares Of stock IN the
have never received nor had tondcrcd to me
any divide nds IN cash, stock, or bonds accruing
upon any stock ~ either Of said orgnuiz tttons.
81 told him AMEsl that | would agrce To pur-
chase twenty shares AZ par and interest to be paid
for as soon nus had Il money. Some weeks or
months HfteIward, nt the same session, paid
Mr.. AMFs about $inn In cash ON this contract Of
purchase being all the money had but re-
whole or IN part Nv impression is thar he told
me one or two dividends had been earned. but
they were not Ia cash, aud were as yet un-
adjusted. Certainly did not receive any. and
wls not offered any, IN cash bonds, or stock,
thls heari runor that unpleAs NJ contro-
ycrsics existed among the LARGEST stockholders.
which we're certain To involve the organization
/. prolonged litigation.
"The very day heard this rumor I told Mr.
ANhs that no prohts, present or prospective.
gould induce me TO buy into lawsuit; that
must therefore recede entirely from tho trans
action between us. He Hs,rutcd To- this, aud
nothing was SAID ~ a. the money paid, my unXi-
ety being not To get into u lawsuit.
Tile next wear or the wear after, Mr. AHrs
suspended payment In consequence, as was said,
Of financial inyulyem,nts connected with the
Pacific kallro d, ana his or, ditors save him an
extension on Ills liabilities But, rcgrottiu. his
failure and its cause, voluntarily told him To-
dismiss from h.s mind the small amount Of
money between US.
After Mr.. CoLFAX had concluded this
story, in which he prctenls TO have re-
oeded entirely from the purchase with
out anything being said about the money
part of ii, Mr. MERRICK made some prob
ing inquiries which he did not seem 10
relish:
.. Have you any knowledge Of the relations
between the Credit Nubiliyr and the Mon
iathc i'dllf"ad s"mpauyt A-Nhcn Mr..
hMt> spoke to mo about " asked what the OBJ
Je'ts OF the Gre lit Mohilier were, and rs nearly
a. | can reCullect a conversation that occurred
hve years alo, he told me IL WAS composed ~
the princinal -tockholders Of the Union Pacific
TIA lroad COMPANY; that it, object was to build
the railroad, and think he said they had re-
oeiyed or would receive considerable profits and
ptrhaps very large profits for the risk they ran
aud the advance Of money made. { anv rate
the IMPRESSION he gave me was that the princi-
pal ttpckholders Of the road nere themselves
"Q-ihen u understood that the stock
holders and officers II the Union Pacific Rail
!. ad Comp uy were 10 contra Z with the -rlVcs
as stockhoders and cuutr lotors To- build the
road, and derive furthemsrlv,- the rrntts under
the contract for It's construction A.-Nut
quite 50 strong a. that The conversation was
not exactly 10 that length by any means. | aui
nc ID say that is rcculcrt my imgrc,-it u #
the mater IA 1865, / considered the project Il
Odd II occur 70 you at that time that
there WIS any mordl ur legal impropriety in the
tLprkholde's ut a railroad comuHny making 4
Al do not Ike to bc called upon to settle
moral question: iof others. ! can say for my
sell that 1t did not seem to be morally wrong
This is the case as originally presented
by Mr.. CoLFAX himself. Before taking up
the other side, it should be borne in mind
that the AVIS contract for building the
road was concluded in October, 1867. 1t
was preceded by another called the HoXGE
contract which had yielded enormous
profits. These and third called the DAVIS
contract furnished the fabulous dividends,
MIR. AhEs was then Il member Of Congress,
and fore gong 20 Washington he in
duced the trustees Of his contract 10 allot
him several hundred shares Of Credit Mo-
Dher Tor distribution, as the knowin1 ones
had already demanded an interest and he
foresaw the necessity of securing friends
who could arrest adverse legislation,
ana aid the company rs WAS subsequently
done by removing IT. headquarters to
Boston, transferring suits from the courts
OF New York, where the defendant. can be
examined, 10 the United States courts.
where they cannot and paying for half
the Government transportation on the
road when the company was debtor for
many millions of interest money. He had no
desire 10 expose the members who had re-
ceived the shares and he only stopped
short Of actual false swearing to relieve
them and accept their false versions for
truth. But whcn hc wac examined ON the
l1th of December page 32l Mr. MERkcK
propounded certain special inquiries:
20. Had you promised to an these members
ntEuurrcss mentioned III this written statement
lthe MLCoMh lstl 10 procure for tnom stock of
hie credit Mobllicrf Al cannot recollect.
There were "a mdHB who talked 10 me about
getting AN interest In it when they BEGAN to
mink II was UpOt MluD. | cannot rrcollcCI all
the names. 40 not know whether they had uI
Iem did "
% Please state which Of them did so far A.
you re'OleCtf Al have no dount lhat kir
hsotiELD did, and Mr. PATTERSON and Mr.
DAWES and Mr.. BiSGHAM and MIR. WIISON.
"Q.-Any others Al think Mr.. DDIFAx