The new North-west. [volume] (Deer Lodge, Mont.) 1869-1897, 1873-01-25

When Congress passed the Union Pacific
railroad charter, it became . matter Of
pressing necessity for the incorporates
named In that stupendous instrument 70
raise money to build The road. Mr.. Colfsx,
In his speecl, 1t South Bend last fall il
vindicating his character from the charges: s::of
corruption, ,broaght against him by the New
York Tribune and echoed by the Spring.
field Republican and Chicago Tribune, told
10 low difficult matter It was 10 awaken
the confidence of capital In the enterprise Of
building great continental railroad, and
that the charter seemed likely to fail for th.
want Of means TO put it into operation. II
was expIsine. that be, in company with
Governor Bross, A. ID. Richardson and
Samuel Bowies, made the journey across
the continent At the hazard of ther lives for
the express purpose of investigating for
themselves and the journals they respective.
y represented, the feasibility and adyanta.
ges of the route ovcr which the road was to
pass, the resources of California. and tbs
probabilities Of its becoming = profitable
investment. Each wrote numerous letters
upon the subject, strongly advocating the
project, and pleading in the most earnest
manner for the capitalists Of the country to
come forward and unite in pushing it I"
completion, Mr.. Colisx made several speech
es in different places, sud the journals
above mentioned exerted themselves assidu
ously 10 the same end. As . result, after
much agitation, the Credit lobilicr, which
WAS nothing more nor less than Chartered
Construction Company, or in other words,
. gigantic banking scheme, created by the
State of Penusylyanis, WAS established to
supply the needed funds. Its membership
was composed chiefly of Union Pacific men,
headed by Oakes Ames. A. one of the in
ducements TO encourage the growth OF cap.
ital around this central institution, the
Government was persuaded to rclioquish its
first mortgage upon the road % security for
its guarantees, and accept . second mort.
gage. The road WAS built, the Atlsatic and
Pacific connected with bands of iron. The
facts associated with Ito construction and
successful opening to commerce of the
world, arc 90 familiar to Ill - to need no
repetition TO pave the way for subsequent
rcvelations
The operations of the Credit Mobilier
have for long time been regarded with
distrust. The suspicion Was unav oidsble
that enormous frauds of some kind were
buried amongst its secret records. The COL
ossal fortunes acquired in two or three years
By large majority Of ito members created
widespread curiosity to learn how the
thing was done. During the candidacy of
Mr.. Greeley, to support its denunciations Of
what was termed corrupt Rspublicsnism,
the New York Tribune violently assailed
the reputation of several prominent members
and ex.members of Congress. with the
charge Of having been influenced to favor
the schemes Of the Credit Mobilier mana.
gers, through gifts of certain shares Of its
stock. Tne assault wss echoed and re.ech.
oed with peculiar vindictiveness by the
Chicago Tribune and the Springfield Repss>
6caS. Mr. C0lfsx Was the 6rEt u prove ito
faleity 70 far - be himself was concerned.
Ar. Blaine demonstrated by sffidavits of
State officers that he WAS not member of
Congress ss the time the bribery WAS said 10
have taken place, and could not, therefore,.
have been implicated In that vile transaction
The ztibsnss and Reps6liess Apologized
for the mistake, hut continued the discuss.
lon - to the rest until Il finally came before
Congress In the shape Of resolution f0r
investigation Of the charges. ..ar-ar-.
The basis for their charges was certain
disclosures made BY one COL McComb, .
stockholder IN the Mobilier who hsd been
promised certain shares of stock oy Oakes
Ames which had never besn delivered:
Correspondence on tue suojcct developed
the TACT that the shares AcComb was ia
have had. were used up Ia buying Congrcss
ionsl votes. This Vas in 1868. Receiving
NO satisfactory reply to his demands for The
delivery Of bis shares, McComb brodgh'
suit against Amos for their recovery. The
case wss brought to trial In one Of the Phil.
sdelphia Courts. but the proceedings wese
conducted with Z secrecy % profound y q
be quite impene tTsble until some time after
ward when sharp reporter, after sitting
the lawyers on both sides, reached one whu
..sleskcd" The whole matter The IL
porter published every thing, Of courss, and
that's tue origin Of the xobilier scandal. =
R<gister s.a, sralas .a. mssruu ss# 4ar