11.07.2015 Views

Politics and the Gilded Age

Politics and the Gilded Age

Politics and the Gilded Age

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A Carnival of Corruption• Crédit Mobilier sc<strong>and</strong>al– Union Pacific Railroad insiders from <strong>the</strong> company,<strong>the</strong>n hired <strong>the</strong>mselves to build <strong>the</strong> line (at inflatedprices)– Distributed shares of stock to importantcongressmen to prevent investigation– 1872 investigation by newspaper <strong>and</strong> Congress ledto breakup of Crédit Mobilier, censure of 2congressmen– Vice President Schuler Colfax shown to havetaken bribes (dropped in 1872 by Grant)

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