Louisiana capitolian. (Baton Rouge, La.) 1879-1881, 1880-08-07
WHAT WAS TIE CREDIT M0BIL1ER
New York SUM-

New York Sun
Several correspondents, among then
an esteemed clergyman in neighborip,
town of New Jersey, have requested
US to answer this question. They un
derstand, we suppose, the relations O
MT. Garfield to the Credit Mobilier
the broad relations of the Credit Mobil
Ter to Congress and to the people are les.
clear to their minds.
A few years ago the United States
endowed magnificently with it's lands
and bonds, and many valuable privileges,
accompany organized to build the Union
Pacific railway. When certain shrewd
managers for the concern came to count
up the cost Of the work and to cast nm
the assets to be applied to it, they found
an enormous balance on the right side
OF the book. In order to absorb this
blance and transfer it to their own
J.
pockets, they Immediately proceeded to
torn an inside ring to build the road
lhey bought an old Pennsylvania
charter called the Credit Mobilier, which
was admirably adapted for the swindle
IN view, and under that Charter name
began the execution Of one of the most
remarkable successful frauds in history.
AS officers of the Union Pacific, the
members of the Credit Mobilier con.
tracted with themselves for the con-
struction of the line, and fixed their
own figures for the work. Thew thus
stripped the Union Pacific of everything
OF value belonging to it, and set it over
to the Credit Mobilier. With one hand
they robbed the treasury of the railway
company,0 and with the other they
stuffed the plumber into the treasury of
the construction ring, whence it was
distributed to tho individual conspira-
tors in the form of dividends of cash
bonds and stocks. a,t
But the United States, in slight return
tor its unexampled bounty, had taken |
hrit mortgage on the property. This
was inconvenient to the ring. Having
absorbed everything else, they now de-
sired to put first mortgage on the road,
and take the bonds of that also. But
that could be done only by getting rid
IF the frt mortgage OF the United States:
hat, again, could be effected only BY
act of Congress. To simple minded and
honest men this would seem like a very
iificult thing to accomplish; to them it
easy enough. They set apart
certain amount of the enormously
'aluable stock of the Credit Mobilier-
took which represented both the plum
Ter of the past and the plumber of the
aturc-and give it to Cakes Ames who
greed to "place it where it would do
he most good.' He was member of
congress, aud was, not unjustly, suppos.
d to know exactly how to employ it in
rider to corrupt the sources of leeisla-
ion. With this corruption fund be
ought the Vice President, several Sena- ,
ors, and the cbairmen of the leading
of the House. Then, by the
ote and influence of these men the de- ,
red legislation was had, and new
cid of pillage was laid open to the
ing, in which the government and the ;
of the Union Pacific were
lual sufferers.
1t was not possible that q series of !
at once 30 colossal and 80 !
famous could be concealed forever. ,
here came day when the sun spread !
lis iniquity before its readers in almost I
very detail. 1t WIS the most shocking |
'velation Of official venality and cor q
lption ever made in the whole course q
our history. Investigation followed, e