Western sentinel. [volume] (Winston [i.e. Winston-Salem], N.C.) 1856-1886, 1880-08-12
What was the Credit MobiIIer ?

What was the Credit Mobi|Ier
| Several correspondents have re-.
qnested Us to answer this q question
They understand the relations O
Mr.. Garfield to the Credit Mobi-
ller; the broad relations of thu
Credit Mobiiier to Congress and &c
the people are less elear to thsil
A few years ago the United
States endowe-! magnificentiy with
its lands and bonds, and man,
valuabls privileges, a company or.
ganlzed to build the Union Pacific
Railway. When certain shrewd
managers OF. this concern came to
count up the cost Of the work and
to cast up the assets to be applied
TO IL, they found an enormous BAL
aDce on the right side of the book.
In order to absorb this balance
and transfer 1t to their own pock-
ets' they Immediately proceeded to
form an inside Ring to build the
road. They bought an old Penn
sylvania charter called the Credit
Mobilier, which was admirably
adapted for their swindle in view
and under that charter name began
execution of one of the most re-
markabl9 end successful frauds in
history.
As officers OF the Union Pacific.
the members of the Credit MobiIier
contracted with them selves for the
construction of the line, and fixed
their own figures for the work.
they thus stripped the Union Pa
cific of everything of value belong
ing to it, and set it over to the
Credit Mobilier. With one hand
they robbed the treasury of the
railway company, aud with the
other they stuffed the plumber into
the treasury Of the construction
Ring, whence it was distributed to
the individual conspirators in the
form Of diyid ends of cash, bonds
and stocks.
Bot the United States, in slight
return for its mex ampled bounty.
had taken 6rst mortgage on the
This Was inconvenient
to. tie Ring. Having absorbed
every thing else, they now desir. TO
put FIRST mortgage on the road,
and take the bonds of that also.
But that could be done only by
getting rid of the first mortgage OF
the United S ates; that, again,
could be effected only by act of
Congress. To simple minded and
honest men this would seem like a
very difficult thing to accomplish 4
% them it appeared easy enough.
They set apart certain amount
81 the enormously valuable stock
ot the Credit Mobilicr-stock which
represented both The pIunder of the
past and the plunder of the future
and gave it to Oak Ames, who |
agreed to "place it where it would
10 the most good" He was mem. |
Der of Congress. aud was, not un-
ustly, supposed to know exactly |
low to employ it in order to cor
'upt the sources OF legislation. |
With this corruption fund he
bought the Vice-Ples esident, several
senator's and the Chairman of the |
committees of the House.
Then, by the votes and influence of
hese men the desired Legislation
vas had, and a new field of piIlage
vas laid open to the Ring,iu which
he Government and the stockhold-
'rs of the Union Pacific were equal |
sufferers.
1t was not possible that a series
# transactions at once was SO CO.
ossal and so Infamous could be
concealed forever. There came
lay when the Sun spread this; i,,-
guilty before its readers in almost
very detail. 1t was the most
hooking revelation OF official ve-
,aiity aid corruption ever made in
he whole course of our history. In
'est:gation followed, and the guilt
# The accused members was clear.
y ascertained. With a few ex.
eptions, they added the crime OF
,e'jurJ in their testimony before
he committee to the crime of
'ripery.
Among others, James A. Gar
leld was bri5ed; swore that he had
ot been bIibed'; was conyicted of
'ribery and perjury by the testi.
nony OF Ames and by documentary
vlderce of coLclu sive character;
nd the committee, composed Of
,embersof his own ty,reported
i'm as bribe.taker and a pe,iur.
r.-Neau Fork Sun.
PARALLEL AL OF SE1Es.-Man is
trong-woman Is beautiful.
Man has Sciance-uoman hoo