The Credit Mobilier scandal involved the Credit Mobilier Company and the Union Pacific Railroad. Both were chartered in 1864. In 1868, Congressman Oakes Ames distributed shares of Credit Mobilier stock, as well as made cash bribes to other congressmen. The Sun, a New York newspaper, broke the story of the scandal during the 1872 presidential campaign of Ulysses Grant.
Congressman Oakes Ames was the core player in the Credit Mobilier scandal, however, over 30 other individuals participated in the scandal. Oakes Ames and James Brooks were censured by a congressional investigation.
Illegal manipulations were made in the construction of the transcontinental railroad.
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acheiving monopoly in hauling freight along their railroad's tracks
U. S. was president when the Credit Mobilier scandal broke and some of his friends were involved.
Congressman Oakes Ames was the core player in the Credit Mobilier scandal, however, over 30 other individuals participated in the scandal. Oakes Ames and James Brooks were censured by a congressional investigation.
Credit Mobilier Scandal
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Known as the Credit Mobilier Scandal, this involved the Union Pacific railroad.
Illegal manipulations were made in the construction of the transcontinental railroad.
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The Credit Mobilier scandal which occurred in 1872 involved arguments with Union Pacific resulting from the building of the western part of the Transcontinental Railroad. The problems originated in 1864 during the presidency of Abraham Lincoln.