Gallipolis journal. [volume] (Gallipolis, Ohio) 1837-1919, 1876-07-27
Tilden's Wealth - How it was
Made,


The Balieiin's ''honest, good man
for the Presidency" Samuel ]. Til
den, has personal fortune which is
variously estimated from three to
seven millions dollars. 1t is not un-
natural, in view of his desire to oc-
cupy the White House, that people
should be interested in knowing how
he amassed this colossal fortune.
IL it was dishonesty obtained, he Is
unworthy to be trusted with the vast
powers which are reposed in the
head of this great Nation.
The Chicago Tribune has been in
yestigating this matter, and here is
the result of its labors:
Most of the Western railroads
have been through Mr.. Tilden's mill
in one way or another. We showed
the other day how Mr. Tilden figur-
ed in the Credit Mob;Iier investiga-
ton rs having advised and approved
that jobbery at every step. The fact
is, he was the father of the Credit
Mobilier system of building rail-
roads, and appliedi it extensively all
through the West, and to his own
great profit, long before the Pacific
Railroads were built. Oakes Ames
was but Tilden's imitator. Tilden's
active partners in the mill projected
the railroads, and got subscriptions
in aid thereof from States, counties.
cities, townships, and private indi-
viduals, all through the West, on the
basis of developing the country"
They pocketed this money, and Dor
rowed funds to build the road on
first mortgage bonds, generally tax
ing the bonds themselves and ad-
vancing the money they had received
from local subscriptions. Then
they paid themselv the money they
had advanced for building the road
at the most exhorbitant prices.
Having taken all the money back,
the road would be nominally ont of
funds, and unable to pay the interest
on its bonds before completion. Then
it would he put through Mr.. Sam.
uel J. Tilden's famous mill-a pro-
cess which wiped ont the State sub
scriptions, the county subscriptions,
the city subscriptions, the township
subscriptions, the private subscrip-
lions, and all the original stock, leav-
ing the road the property Of those
who held the first mortgage bonds,
who would thereupOn proceed to re-
the company. This wasthe
process. The result was that the
New York railroad ring built rail
roads on the money advanced by
other people, but owned the roads
after they were completed.
Under the tutelage and advice of
Mr.. Samuel H. Tilden it was all
done illegally" and In proper form
he and Tweed having first arranged
The laws accordingly.
The counties and towns of Illinois
1--WE between $l2,000,000 and $l5,-
)0O, 900 on account of railroad sub
that were swallowed up by
Mr.. Tilden's patent process. Large
amounts of money have been
aiken from the people of Ohio,
Indiana, Michigan, Wisconsin
iowa, Minnesota, Kansas, Ne
,raska, Missouri, and other
States of the West, Northwest, and
in the same manner. Of
vi this, Mr.. Tilden has received his
ull share. He was the lawyer who
leviscd the means whereby these
rauds were worked out, he counseled
he active manipulators at every
tage of the operation, he acted as
he agent for winding up and reOr-
the companies, and he pock-
ted a large part of the plunder.
There is scarcely q railroad this side
# the Allegheny Mountains in which
here was not at least one, and many
n which there were several, Credit
schemes manipulated by
'am. Tildcn for the profit of him
elf and those associated with him.
This is how he made his millions,
nd the people Of the West who con
ributed the money are particularly
in understanding and re.
it.