The Boss and the Machine; a chronicle of the politicians and party organization by Samuel Peter Orth
page 31 of 139 (22%)
page 31 of 139 (22%)
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associates. To the Credit Mobilier were issued the bonds and
stock of the Union Pacific, which had been paid for "at not more than thirty cents on the dollar in road-making."* As the United States, in addition to princely gifts of land, had in effect guaranteed the cost of construction by authorizing the issue of Government bonds, dollar for dollar and side by side with the bonds of the road, the motive of the magnificent shuffle, which gave the road into the hands of a construction company, was clear. Now it was alleged that stock of the Credit Mobilier, paying dividends of three hundred and forty per cent, had been distributed by Ames among many of his fellow-Congressmen, in order to forestall a threatened investigation. It was disclosed that some of the members had refused point blank to have anything to do with the stock; others had refused after deliberation; others had purchased some of it outright; others, alas!, had "purchased" it, to be paid for out of its own dividends. * Testimony before the Wilson Committee. The majority of the members involved in the nasty affair were absolved by the Poland Committee from "any corrupt motive or purpose." But Oakes Ames of Massachusetts and James Brooks of New York were recommended for expulsion from the House and Patterson of New Hampshire from the Senate. The House, however, was content with censuring Ames and Brooks, and the Senate permitted Patterson's term to expire, since only five days of it remained. Whatever may have been the opinion of Congress, and whatever a careful reading of the testimony discloses to an impartial mind at this remote day, upon the voters of that time the revelations |
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