Year: 1873

say TO this Committee that believe greater wrong
has ever been perpetrated country than has been
\ perpctrated upon honorable gentlemea IN connection
with these charges whom have known for twenty or
twenty-five years and whose integrity the Pacific Kali
road and all the railroads in the country could not buy
! or swerve hair.


WHY DENY An INNOCENT TRAssAcTIOsf
BY Mr. Nibaek-I.et me ask whether this odipm which
has been created In the public mind has not 10 some ex
tent arisen from the mistakes gentlemen connected Win
ths matter have made by endeayoring to conceal their
connection with it, A. cannot say as to Others as
for myself when the charges first appeared In the news
papers, was Hartford. and statement was put into
my hands while attending public meeting TO the erect


that had given 2oo shares of the stock Of the Credit
Mobier and worth when 1t was given 10 me
OoO that very rich and that of course
could afford to for the Pacific Railroad mme-
dately intended to publish at once the substance Oh
what have stated here to-day that never have had
cay stock given to never owned any ana never put
any money into consulted one or two friends who
advised me under the circumstances not to go before
| the country and make explanation OF that KIND
could have done it ruhully, rs have done IL truth
fully now.


Q. Upon the supposon that it was entirely an nno'
cent transaction it not mistake for she persons
names ed mp with it. attempt 10 cover
1t upf A. Every gentleman must Judge OF that for him
self Think great mistakes have been made in regard to
| the whole matter.


By Mr. Ames-Did YOU not ask me- when | suggested


this stock 70 you IL expected 10 waut any legislation


in Congress upon the subject and did not answer that
did not want anyl A. have stated that was thlhg
that very explicit about.
BY Mr. Ames-I recoliect the ctrcumstance that you
were very particular about making the inquiry A You


told that you wanted nothing that all the legisla-


ton you required had passed years before II there had
been any question upon that point should have nad no
negotiation in regard to it; you gentlemen Of the Com
tha
man of the Committee on Military Affairs, was in
condition to know something OF the effect Of legislation
and / have no doubt that If had chosen 10 invest
money, acting the information had, couid nave
made money; although had not money of my own to
invest had friends who would have advanced me any
amount had asked OF them. but for the reasons ana
the circumstances which have explained consider it


necessity my part keep out OF every such invest
ment not chat regard wrong for other gentlemen
nor that would reproaoh any other gentleman for
making any such investments am only explaining the
reasons for my conduct do not know. as think


stated that any other member OF either House OF
Congress bad any transactions in connection with TINS
subject. except Senator Grimes


By Mr. Alley-I have hoard 1t stated that the WASH
in gon correspondent OF The Boston Traveller has pub


shed in mis- correspondence in that paper that IL was
believed here that carrying some stock for Senator
Wilson will you be good enough to state whether there
was any truth such intimation A. saw that in





hurt about particularly sensitive in regard to
the criticism Of the press upon my public course
never complain OF any criticism Of that but when
saw this imputaton went 70 this young man aud
asked him why he should write such thing OF me he
said he had heard somebody state something OF that
kind, that he wanted for his paper and
so sent it OF; Will say this. that mother
you nor Mr.. Ames, any other human being on the
face of the earth holds ever held anything for
me in regard 20 this Credit Mobier or the Union Pacific
Railroad and will repeat that am hundreds Of dollars.
to-day, poorer than il had never had any conyer.
sation the subject, and that would not take any
receipts from it, n they amounted to millions OF
dollars Mr. Ames told me when he gave the money
back that there would be stock some property coming
10 mt II chose It refused to do it, and backed
out OF the bargain which, have stated was an uncon-
summated one


The Hon John A. Binghsm's testimony and cross
examination was as follows


STATEMENT or MIR. BINGHAM


It is due 10 myself and to the House that state all
transactions with Mr. Ames The first Of these in
March or April, 1866 Conhdng in the integrity and


financial judgment of Mr.. Ames, and consulting and ad
visng with him, at that time paid capital stock in
the Hubbard Silver Mining Company, Of which Mr..
Ames was the President and John B. Alley Treasurer
$1,000 This Company organized under the laws OF
Massachusetts, and had connection with the Credit
Mobiler the Union Pacific Railroad Company. nor
with Congressional legislation. The Investment has
turned me nothing. and is total loss Ju December,
1861 Dir. advised me TO invest in stock OF the
Credit Mober, assuring that IL would return my
money with profitable dividends.


told him that knew nothing OF the Company. nor
did know anything about dealing iD stocks He pro
posed to invest my money for Inc in the stock and
count to for the dividends. agreed 10 invest s9Ooo
and about the 1st OF July paid him 5000 for which
he then gave his written agreement to to
for the dividends and proceeds Of 20 shares OF Credit
Mober stock stating therein the nominal value OF the
Union Pacific r. r. Co stock then presented by it and to
be accounted for aferward and in 1863 aud upon his ad
vice. agreed with Mr. Ames for 81 900 OF the stock OF the
Iowa Falls and Sioux City Construction Company,
count OF which paid him $3.50 andDor which he gave
me written agreement to account to for the


never received held any stock Of the Credit Mobile
OF the Construction Company or Of the Union Pacific
Company from Mr. Ames, nor any one.


MI. Ames was the only person known to me in these
contracts. I contracted with hun in good faith as /
then believed. and upon his that the invest
ment would return me large PROFITS. I had then
question OF right contract and to take the pro
ceeds of my contracts. no doubted NY right
TO do before that in 1885, doubted right to buy
then bought and for 80 shares OF the stock Of
the Harrison National Bank located at the place OF my
residence In 1853 and time after had paid Mr.
Ames the money In consideration OF which he gave
the Credit Mobilier agreement he delivered to two
bonds OF the Union Pacific Railroad Company, 81 900
each cents the dollar and account OF which
I paid him $500, and for the residue thereof 1900.


He indorsed credit on his agreement held by me III
subsequent demands or payments were in payments
tho u z. r stock. the stock, being charged by Mr.
Ames to himself at its nominal value the face OF
agreement sold by and the money Endorsed thereon
as payment In the January session of requested
Mr. Ames close these contracts with wished
use my money. He consented to sottle and did settle In
December 1870, as recollect the Credit Mobilie
tract and took up accounting to me or the ~ r. stock
dividends therein settled at their at about