The Manitowoc tribune. [volume] (Manitowoc, Wis.) 1866-1878, 1875-01-07

lions. So base was this fraud that we
know of but one public man who had
the hardihood to defend it. That man
was Matthew Fl. Carpenter, now q csn-
didate for reelection to the United
States Senate. Called to account for
delinquency by his constituents IN Rock
County on the Goth June, 1873, he de-
ivered speech at GAINESVILLE wherein he
defended in the broadcast terms the salary
grab and Credit Mobilier corruption. In
speaking of the last he said
know of nothing more likely to excite mirth
than the Credit-Mobilier investigation.
Now, if it will not make your blood run cold
what the Credit Mobilier was, and show you
that it has never taken one dollar from the
one cent, and that the panic which has thrown
fifty millions of people into Commissions Is an
about nothing g at an a+ t put you ask lid lid
pany? I answer, 1 don't know, and I don't
care If the Railroad Company has any COM
plant against the Credit Mobilier, let it make
eminent has cause of complaint against the
Credit Mobilier, because the Government never
had anything to do with that corporation,
damned by its mysterious name.
DuG IL hI. OdI pSuCtI u1u uOG CxtIo IL
the railroad was robbed, the people of
the United States, who held O second
mortgage on the road for 1854, 600, 900, do
care very much about it, as this Credit
Mobilier robbery renders it pretty GER
tain that the Government Will sustain
total loss of its advances.
But damning as was thus Credit Mobil
Ter robbery, a recent one has been
brought to the surface which, if less in
magnitude, promises to be more damag-
ing to the participants than to those who
were involved in the Credit obilier in
iquity. The recent exposure of the
means whereby S., 600, 900 subsidy was
procured by the Pacific Mail Company
has, if possible, shocked the country
more than the Credit Mobilier exposure.
To secure that subsidy it is shown that
a very large sum of money was expend-
ed,-now known to exceed 81, 900, 900.
Of this money, 1915, 1000 has been traced
to the hands of the Hon. j. G. Schuma-
ker, Democratic member of Congress
from New York, and $115, 900 to the Hon.
William S. King, of Minnesota, who at
the time was Postmaster of the House
of Representatives
AS yet we have seen no apology for
King In any Republican newspaper ex-
cept the Milwaukee Sentinel, which is
Senator Carpenters organ. On Thurs
day last that Senator Carpenter returned
to his home in Milwaukee, and on the
following morning, by a singular coin
cidence, his organ contained the follow
ing paragraph
An effort is being made by some newspapers
to connect the Hon. w. S. King, of Minnesota,
with corrupt practices in connection with the
Pacific Mail. This effort has simply no founda-
ton whatever in truth. The facts are these:
There was a bill pending in Congress to give an
increased subsidy to the Pacific Mail Steamship
Company. Mr.. King, who was only Postmaster,
and not g member of the House, had confidence
that the bill would pass. He went to New
York and communicated this assurance to
parties there. A pool was organized, and a
large amount OF stock was bought. Upon the
passage of the bill q considerable advance was
realized, and it was his share of this specula-
ton that was paid to him i'll the manner detail
ed before the Ways and Means Committee
The transaction was purely business matter,
and one to which no faint OF corruption attach
The language of this item and the po-
litical morality it discloses can leave lit
tie doubt of its authorship. But the
statement is deceptive. Mr.. King could
not have made $4,000 by stock ganb-
Ling In Pacific Mail pool, as asserted by
Senator Carpenters mouth-piece. The
st. Paul Press, tue leading Republican
paper IN Minnesota, has the following
to show that there was no rise in 'sPa-
cifc Mali upon the passage of the bill:
The Pacific Mail Subsidy bill seems to have
passed on May 21. 1872 We say seems, because
after a careful inspection Of the Congressional
Globe we md that the report OF the Conference
Committee was agreed To in the House on that
day; but can find no record Of any action upon
1t IN the Senate. 1t was, however, approved
on June ]. 1872. Mr.. King presented Mir. lr-
wins cheek at the American Exchange Bank
on May 70. In view of the theory that Mr..
King made his money out OF the rise in Pacific
Mai stock, consequent on the passage Of the
bill, attention has been called to the follow
ing quotations Of Pacific Mail stock:
May %. ...-....................TS
,.'H .oS
May SS--------. .-ao1s
May 80 Observation-Disclosures. .15l3
May 81. 751s
June i51<
From May to May Is the quotations rose
O.