The new North-west. [volume] (Deer Lodge, Mont.) 1869-1897, 1880-07-16
General Garfield and the Credit Moei-
lier.
From the Nation, June ~.

From the Nation, June "a.
In concluding our article on the hepuo-
licau nominee last week, we aliiideo 10
certain charges, having an unpleasant as,
meet. which II would not d" LOT MS poiiIlcai
friends TO ignore. of these oy Tar ths
worst looking was that which associated
his lame with the Credit Mobiier swindle
as a holder Of stock in that concern, and In
which he ia accused of disingeuous at
tempt 10 free himself from his proper share
of responsibility in the matter by pretend
inc that the dividend which he received
from the stock was q small loan OF money
from Cakes Ames. The Republican pa
pers have touched upon the matter in such
q way as 10 show that they would feel much
more comfortable il there were no such
charge to meet. We have, therefore, made
a careful examination of all the charges
against MIR. Garfield elected by the Poland
Committee during the celebrated lnvesti-
cation Of 1873, with a view OF giving our
readers a correct idea Of its character and
of the probable conclusions to be drawn
from 1t.
IL will be remembered that the inyestiga-
ton originated from the putting OF some
100 shares of stock in the hands OF MIR.
Ames as trustee, for the purpose OF putting
the stock where it would do the most
good. Mr.. Ames thereupon applied TO
dozen or more of his personal friends In
Congress TO invest small sums In 1t on terms
as liberal as the investors could honestly
expect. Some paid the cash, and to those
who had not the cash 10 spare he offered TO
hold the stock until the dividends sbould
nav for 1t. The general fact that some Of
the stock had been held by members OF
Congress leaked out during the Presiden-
tial campaign Of 1872, and on the opening
OF the session of Congress in December OF
that year, Speaker Blaine, whose name bad
been prominently mentioned in connection
with the matter, moved the appointment
of a committee of investigation. We are
now concerned only with such OF the evi-
depce taken by the committee as relates u
Mr.. Garfield, of which the following is
summary made up from the report Of the
committee.
Among the first papers presented was a
rough memorandum submitted by Mr.. Nc
Comb, containing names OF about q dozer
members Of Congress supposed TO have in
vested In the stock. The name "Gartield
appears on the paper, but no indication o.
the number of shares or other particular
On his opening examination, December IL
1872, Mr.. Cakes Ames says OF Garfield:
IL agreed 70 get ten shares Of stock ant
hold 1t until he could pay for it,"
He added that Mr.. Garfield never tool
his stock and never paid for 1t, and he ha'
no recollection of ever having paid him an
dividend. He had, however, given hir
(Mr. Garfeld) some $500 or $500, which b
called loan. It will be remembered tina
at the time this evidence was given neal
five years had elapsed since the suppose
transaction.) The next day Mr.. Ames re
peated, in the most unqualified manner
that Mr.. Garfield had never paid for an
stock or received any dividend.
On January 20 he told a somewhat ditfei
ent story. In December, 1867, or January
1868, Mr.. Garfield agreed TO take stock. Il
the following June Dir. Ames sold tn
bonds belonging to his stock for $776, an
received a cash dividend of 5000, which
after deducting $47 interest, letta balanc
of 1920 due to each holder Of ten shares
This sum be paid Mr.. Garfield, and that, b
said, was the sole transaction betwee
them. He did not know how the sum wa
paid, but supposed IL was paid in money
When asked il he had made any statemen
to Mr.. Garfield of what he was paying th
money for, he replied ~ presume did
think did with all of them that is m
impression" He supposed" Mr.. Gar
field understood this TO be the balance Q
his dividend. He remembered no CONVEX
sation In the transaction and never deliver
ed any certificate. Dividends in Unto
Pacific stock had been declared on thes
shares, buC Mr.. Garfield had never aske
for any Of them. He presumed" the $32
was paid by a check on the sergeant-a
arms.
On January 20 be said that he had neve
offered to pay Mr. Garfield any more div
bends, but still considered the ten shares
stock as belonging to him. He also sal
that In conversation with MIR. Garfield sine
the investigation commenced the latter a
Qued that there Was still ~, 400 due HIM Q
his shares, namely $1,000 Credit Mobiles
90 In Union Pacific stock and $500
stocks and bonds and, in support Of b
statement, submitted the following meme
randum In Mr. Garield's handwriting:
0O0