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Dale Creek Crossing, completed in 1868 as part of the First transcontinental railroad. The Crédit Mobilier scandal (French pronunciation: [kʁedi mɔbilje]) was a two-part fraud conducted from 1864 to 1867 by the Union Pacific Railroad and the Crédit Mobilier of America construction company in the building of the eastern portion of the first transcontinental railroad from the Missouri River ...
An 1872–73 congressional investigation into the Crédit Mobilier scandal identified Colfax as one of several federal government officials who, in 1868, had accepted payments of cash and discounted stock from the Union Pacific Railroad in exchange for favorable action during the construction of the transcontinental railroad. Though he ...
In December 1872, the Poland Committee found out that many high tier Republican officials were involved with the scandal. On February 4, 1873, Patterson tried to convince the senate to appoint a specific committee. The committee found out that Patterson gave Crédit Mobilier official Oakes Ames 7,000 dollars to invest for him. Patterson claimed ...
In 1872, Wilson was elected vice president as the running mate of Ulysses S. Grant, the incumbent president of the United States, who was running for a second term. The Grant and Wilson ticket was successful, and Wilson served as vice president from March 4, 1873, until his death on November 22, 1875.
The Crédit Mobilier (French pronunciation: [kʁedi mɔbilje]; officially the Société Générale du Crédit Mobilier [sɔsjete ʒeneʁal dy kʁedi mɔbilje], lit. ' general company for movable [collateral-backed] credit ' ) was a French banking company created in 1852 by the Pereire brothers , and one of the world’s most significant and ...
[2]: 211 The Pereires were forced to relinquished control of the Crédit Mobilier on 14 September 1867, at the demand of the Banque de France. [2]: 213 Even so, they kept some of their wealth and properties, but had to face numerous lawsuits in the ensuing years and in 1872 were compelled to sell their art collections. [1]: 392
The original UPRR was entangled in the Crédit Mobilier scandal, exposed in 1872. Its independent construction company, the Crédit Mobilier, had bribed congressmen. The UPRR itself was not guilty but it did get bad publicity. The Panic of 1873 another financial crisis, led to financial troubles but not bankruptcy.
In 1872, Kelley was among the congressmen accused by the "New York Sun" of having taken bribes from Credit Mobilier, the company formed to construct the Union Pacific Railroad. Kelley, who protested his innocence, had been given Credit Mobilier stock and paid for it out of its dividends, but no evidence showed that he had been asked for any ...