Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1880-07-07
AN IMPARTIAL ANALYSIS.
GENERAL GARFIELD AND THE CREDIT
MoBILIER.
IFrom the NeM york Nation. Inne a.th.

[From the New York Nation, June 2sth]
In concluding our article on the Republican
nominee last week we alluded to certain
charges, having an unpleasant aspect which
ignore OF these by far the worst-look-
ing was that which associated his name
with the Credit Mobilier swindle as a
holder of stock in that concern. and
in which he was accused of a disingenuous at
tempt to free himself from his proper share
of responsibility in the matter by pretending
that the dividend which he received from the
stock was a small loan of money from Cakes
Ames. The Republican papers have touched
upon the matter in such way as to show
that they would feel much more comfortable
If there were no such charge to meet. We
have, therefore, made 4 careful examination
of all the evidence against Mr.. Garfield
elected by the Poland committee during the
celebrated investigation of 1873, with a view
of giving our readers a correct idea of its
character and of the probable conclusions to
be drawn from it.
1t will be remembered that the inyestiga.
ton originated from the putting of some one
hundred and eighty shares of stock in the
hands of Mr.. Ames as trustee, for the pur.
pose of placing it where it would do most
good" This was done some time in the year
1867. Mr.. Ames thereupon applied to a
dozen or more of his personal friends in Con-
gress to invest small sums in it on terms as
liberal as the investors could honestly expect
Some paid in cash, and to those who had not
the cash to spare he offered to hold the stock
until the dividends should pay for it. The
general fact that somc of the stock had been
held by members of Congress leaked out dur
ing the Presidential campaign of 1872, and
on the opening of the session of Congress in
December of that year, Speaker Blaine,
whose name had been prominently mentioned
in connection with the matter, moved the ap-
pointment OF committee of investigation.
We are now concerned only with such of the
evidence taken by the committee as relates
to Mr.. Garfield, of which the following is
summary made up from the report of the
committee.
Among the frst papers presented was a
rough memorandum submitted by Mr.. Nc
Comb, containing names of about dozen
members of Congress supposed to have in
vested in the stock. The name g Garfield y
appears on the paper, but no indication of the
number of shares or any other particulars
On his opening examination December II,
1872, Mr.. Cakes Aines says of Garfield 6
agreed to get ten shares of stock for him, and
hold it until he could pay for it." He added
that Mr.. Garfield never took his stock and
never paid for it, and he had no recollection
of ever having paid him any dividend. He
had, however, given him Mr.. Garfeld) some
$500 or $500, which he called a loan Ut will
be remembered that at the time this evidence
was given nearly five years had elapsed since
the supposed transaction.) The next day
Mr.. Ames repeated, in the most unqualified
manner, that Mr.. Garfield had never paid for
any stock or received any dividend.
H.. T., ~ IL -
ent story. In December, 1867. OF January,
1868, Mr.. Garfield agreed to take stock. In
the following june Mr.. Ames sold the bonds
belonging to his stock for S77e, and received
a cash dividend of 5000, which, after deduct
ing SAT interest, left balance of 1920 due to
each holder of ten shares. This sum he paid
Mr.. Garfield, and that, he said, was the sole
transaction between them. He did not know
how the sum was paid, but supposed it was
paid in money. When asked whether he had
made any statement to Mr.. Garfield Of what
he was paying the money for, he replied :
presume | did / think I did with all of
posed MIR. Garfield understood this to be
the balance of his dividend. He remembered
no conversation in the transaction, and never
delivered any certificate Dividends in Union
Pacific stock had been declared on these
shares, but Mr.. Garfield had never asked for
any OF them. He presumed the 1929 was
paid by check on the Sergeant-at-Arms.
On January 29th he said that he had never
offered to pay Mr.. Garfield any more divi.
dends, but still considered the ten shares of
stock as belonging to him. He also said, that
in conversation with Mr.. Garfield since the
investigation commenced. tie latter argued
that there was still $1,000 due him on his
shares, namely. 81, 000 Credit Mobilier stock,
81, 600 in Union Pacific stock, and e40O in
stocks ard bonds: aid in support of bis
statement submitted the following memo
randum in Mr.. Gar6eld's handwriting:
nnn