The Democratic press. [volume] (Ravenna, O. [Ohio]) 1868-1901, 1880-08-19
THE CREDIT MSsslLgE,s.
A Brief Recnpitulation Explana-
i0ry of tho Inquiry.
New York Sun.

Several correspondents, among them
AN esteemed clergyman in a neiShbor-
ing town of New Jersey, have request
ed us 10 answer this question. They
understand, We suppose, the relations
of Mr.. Garfield to the Credit Mobiiier;
the broad relations of the Credit Mobi-
lier to Congress and TO the people are
less clear To their minds.
A few years ago the United States
endowed magnificently with its lands
aud bonds, and many valuable privi-
leges, II company organized to build
the Union Pacific railway. When GER
tain shrewd managers of this concern
came To count up the cost of the work
and To cast up the assets to he applied
to it, they .Ouid all enormous balance
on the right side OF the book. In or
der to absorb this balance aud transfer
it to thier own pockets, they immedi-
ately proceeded to form All inside ring
to build the road. They bought All
old Pennsylvania charter called the
Credit MObilier, which was admirably
adapted for tue swindle in view, and
under that chatter name began the
execution of one of the most remarka-
BILE and successful frauds in history.
AS Off u of the Union Pacific, the
members of the Credit Mobilier COLI
tracted with themselves for the con-
structiOn of the line, and liked their
own figures for the work. Thus they
stripped the Union Pacific OF every
thing of value belonging to it, and set
it oyer To the Credit MObilier. With
one hand they rnhhed the treasury of
the railway company, and with the
other they stuffed the plunder into the
treasury of the construction ring,
whence. it was distributed To the indi-
,ift nf Al
idends in cash, bonds and stocks.
But the United States. in slight re-
turn for ITS uneX implied bounty, had
taken II first mOrtS ge on the property.
| This Was incoDVenitnt To the ring.
Having absorbed everything else, they
now desired t0 put a Iirst mortgage on
the road and take the bonds OF that
also. But that could he doue only by
getting rid of the first mortgage of The
Uniied States; that, again, could be
effected only by act of Congress. 10
simple minded and honest men this
would seem like Il very difficult thing
to accomplish; to them 1t appeared
easy enough. They set apart u ceri liu
amount of enormously valuable stock
of the Credit Mobilier-stock which
represented both the plunder Of the
past and the piunder of the future
and gave it TO Oakes Ames, who agreed
to place It where it would do the most
good" He was q member of Congress
aud was, not unjusiiy, supposed to
| know exactly how to employ it in or
der to corrupt the sources of legislation.
With this corruption fund he bought
| the Vice President, several Senators
and the chairmen of the leading COM
mittees of the House. Then, by the
votes and influence of these men the
desired legislation was had, and new
ring, in which the government and
the stock holders of the Union Pacific
| were equal sufferers.
1t was not possible that serious of
transactions at once so colossal and so
infamous could be concealed forever.
There came a day when the Sun spread
this iniqnity before il, readers in al
most every detail. 1t was the most
shocking revelation of official vena!iIy
and corruption ever made in the whole
course of our history. Investigation
followed, and The guilt of The accused
members WAS clearly 4 ce, aimed,
With a few exceptions, they added The
crime of PERU, y in their esi,mOny b,
fore the committee 10 the crime of
bribery.
Among others, James A. Garfield
was bribed swOre that he had not been
bribed; WAS convicted of bribery and
pei ury by the testimony of A mes and
by documentary evidence of conclu-
sive character; and the committee,
composed of members of his own party,
reported him Is u bribe taker and Il
perjurer.