National Republican. (Washington City (D.C.)) 1872-1888, 1875-09-01
How Tildsn, the Democratic Rsformsr Got


[From the New York Commercial ASperfiser.l
No one disputes the common report that
Governor Tilden Is q millionaire. Without
being the equal of Evarts, Fullerton, Beach,
Stoughton, Choate, &C., his worldly possessions
so far surpass theirs as their great intellect
does his scheming, cunning brain. And yet
Mr.. Tilden and his friends would have the
public believe he is an honest man. "Honest
old Tilden" is the title he most dearly covets,
for the same reason, we suppose, that every
knave longs to be esteemed just man and is
forever boasting of his probity. How Tilden
managed to accumulate so much money
when far ADLER men bave only smassed re-
spectacle completeness, is question that
passes ordinary comprehension, If we leave
knavery and triekery and scheming out of the
question. Since Tilden has informed the world
he is nothing if not honest, the world has
perfect right TO make itself so familiar with
his past life that nothing will be hidden, moth
ing obscured. In the furtherance of this
work, the Commercial proposes from time to
time to point out the means employed by
Samuel in gathering his dollars, and we have
no doubt the exhibit will be a cheering and
snimating one to all believers In that "honest
old man." His successful squeezing of
$4,000 from Fisk & Gould has here
tofore been referred to. But Mr..
Tlden's operations have not been confined
exclusively to Eastern schemes. To the West
he turned his calculating eye, and soon 1t hit
upon q little job that put many q dollar in his
and his friends purses. On the Sd day of
June, 1859, the Chicago, st. Paul and Fond du
Lac Railroad Company, having become insol-
vent, failed for large amount of money due
contractors, laborers and other persons, and
was bought up in the name of Samuel j. Til
den, the Peter Funk, on money raised in
Wall street. He was the stool pigeon
The road IVES then organized into the
Chicago and Northwestern Railway, Of which
our "honest old Governor" was q leading
proprietor, director and attorney. The change
of name, however, did not benefit the road. 1t
was virtually worthless, never earning enough
money to pay current operating expenses and
interest on its bonds. As may be expected,
this was exceedingly dissgreeable to the hon.
est and melting friend of the late 8. Wright,
and with characteristic dispatch he worked
out little contrivance that In the end proved
eminently satisfactory to him and his friends.
In the early part of the year 1864, Samuel J.
Tilden and others, whom 1t is not necessary to
mention here, for they do not claim to be
honest, concerted together, operating with
and through some stock brokers of New York
City, in order to get possession Of the Galena
and Chicago Union Railroads. rich CORPORA
ton which had always paid dividends varying
from six TO twenty per cent. to its sharehold-
ers. The endeavor was to consolidate this
road with their worthless and falling concern,
and, thanks to Sammy's skillful efforts, the
design proved most flattering success. During
the five years the Chicago and Northwestern
Railroad had been under the honest manage
ment of Nlden & Co., there had been issued In
stock 81, $50 900 and bonds SO, 535 ,000, and q
the date referred to, large floating debt had
accumulated. Some of the interest coupons
had been funded, others were impaired, and
supply bills and employees wages were several
months in arrears. No dividends had ever
been earned. The object of the plot was to
enhance the value of the stocks and bonds
previously issued and held or controlled by the
conspirators. A bare majority Of the stock of
the Galena and Chicago Union railroad was
purchased under this arrangement, voted
on at the annual meeting by proxy, friends
of the ring elected as Directors-two officers
of the Chicago and Northwestern rail-
road acting as tellers-and the consoli-
dalton subsequently effected. Imme lately
after the consolidation, the. Galena and Chi
cago Union Railroad shares were exchanged
for Chicago and Northwestern stock, one share
Of preferred aid one share of common stock
being issued for each square of the Helena and
Chicago Union stock, thus increasing or water
ing the stock held by them in the nominal sum
Of $4,000, 900. This was put upon the
market and sold, and the ring bsgged
the original shareholders of the Ga
lena and Chicago Union Railroad became
indignant at the manner they were swindled,
and the learned Judge of the United States
Circuit Court, before whom the suit was
brought in equity, in his decision characterized
the transaction as most outrageous and with
out shadow of law. This is but one specimen
of Unc'e Sammy's honesty. It Is sufficient,
However, to show the cause Of the swelling Of
his bank account. It proves that though he
made all his money out of railroads he made
1t not IS a lawyer, but as something we do not
care to print in these columns. We hope to
cast more light on this subject.