The Highland weekly news. [volume] (Hillsborough [Hillsboro], Highland County, Ohio) 1853-1886, 1880-07-01
GEN. GARFIELD
AND THE CREDIT MOBILIER'
THE FACTS OF THE CASE.
AS SWORN TO BY HIMSELF BEFORE
THE CONGRESSIONAL COM
MITTEE.
A COMPLETE REPUTATION OF THE
DEMOCRATIC CHARGES
AGAINST HIM.

] 80 F-----1 e-4e-@ y AA+EH e-+-l 2
Gen, Garfield was the owner Of stock
in the Credit Mobilier. The Sun
bases its charge principally upon the
evidence of Oakes Ames, who was
one of the chief conooctors and man
ayers ofthe Credit Mobilier, and who,
after his own exposure and disgrace,
in connection with the vile scheme,
tried to drag down with himas many
others as he could, and among 9TH
ers, Gen. Garfield. Against the
statement of such a man as Ames,
who could conceive and execute such
a piece of rascality as the Credit Mo
bilier, we place the sworn testimony
Of Gen. Garfield himself, given be-
fore the Congressional Investigating
Committee, and which will be recei7-
ed by all fair-minded men as a com
pIete answer to the SANDER of Cakes
Ames and the Democratic press.
Gen. Garfield testified as follows:
'The first I ever heard of the
Credit 1[Obilier was in 1866 or 1867.
I cannot fix the date when George
Francis Train called on me and said
he was organizing a company to be
known as the Credit Mobilier of
America, to be formed on the model
of the Credit Mobilier of France;
that the object of the company was
to purchase lands and build houses
along the line of the Pacific railroad,
at points where cities and villages
we're likely to spring up; that he had
no doubt money thus invested would
double or treble itself each year;
that subscriptions were limited to
$1,000 each, and he wished me to
subscribe. He showed me a long
list of subscribers, among them Mr..
Oakes Ames, to whom he referred
me for further information concern
ing the enterprise. I answered that
I had not the money to spare, and if
I had I would not subscribe without
knowing more about the proposed
organization. Mr.. Train left me,
saying he would hold open O place
for me, and hoped I would yet con-
clude to subscribe. The same day I
asked Mr.. Ames what be thought Of
the enterprise. He expressed the
opinion that the Investment would
be safe and profitable.
''I heard nothing further upon the
subject for a year or more, and it
was almost forgotten, when some
time, I should say, during the long
session of 1868, Mr.. Ames spoke of it
again; said the company had organ
lied, was doing well, and he Thought
it would soon pay large dividends.
He said that some Of the stock had
been left in his hands to sell, and I
could take the amount which Mr..
Train had offered me by paying the
$1,000 and accrued interest. He
said that if I was not able to pay it
then he would hold it for me until I
could pay, or until some of the diYi-
dends were payable. I told him I
would consider the matter, but would
not agree to take any stock until I
knew from an examination of the
charter and the conditions of the
subscription the extent to which I
should become pecuniarily liable. He
said he WAS not sure, but thought a
stockholder would be liable only for
the par value of his stock; that he
had not the stock and papers with
him, but would have them after O
while. From the case as presented,
I probably should have taken the
stock if I had been satisfied as to the
extent of pecUniary liability. Thus
the matter rested for some time, I
think until the following year. Du-
ring that interval I understood that
there were dividends due, amounting
to nearly three times the par value
of the stock. But, in the meantime,
I had heard that the company was
involved in some controversy with
the Pacific railroad, and that Mr..
Ames' right to sell the stock was de-
MED. When I next saw Mr.. Ames I |
told him that I had concluded not
to take the stock. There the matter
ended, so far as I was concerned, |
and I had no further knowledge of
the cOmpany's operations until the
subject began to be discussed in the
that fall. Nothing was
ever said to me By Mr.. Train or Mr..
Ames, to indicate or imply that the |
Credit MObilier was or could be IN |
any way connected with the legisla- /.
ton of Congress for the Pacific rail
road, OF for any other purpose; Mr..
Ames never gave nor offered to give |
me any stock, or other valuable
thing, as a gift. I once asked and |
from, and afterward repaid !
to him, a loan of $500. That amount T.
is the only valuable thing I ever re-
ceiYed from or delivered to him. 1
never owned, never have received,
or agreed to receive, any of the stock
of the Credit MObilier, or Of the Union
Pacific Railroad, nor any dividends
or profits arising from them.