The Credit Mobilier of America. A paper read before the Rhode Island Historical Society, Tuesday evening, February 22, 1881

Hazard, Rowland

Edité par Sidney S. Rider, Providence, 1881

First edition, 8vo, pp. 42; original printed gray wrappers; wrappers a touch soiled and an old accession label at the bottom of the front wrapper; all else near fine. Wikipedia notes that the Crédit Mobilier scandal of 1867, which came to public attention in 1872, was a two-part fraud 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. First, a fraudulent company, Crédit Mobilier, was created by Union Pacific executives to greatly inflate construction costs. Though the railroad cost only $50 million to build, Crédit Mobilier billed $94 million to Union Pacific, and Union Pacific executives pocketed the excess $44 million. The second part involved using part of the excess cash and $9 million in discounted stock to bribe several Washington politicians for laws and regulatory rulings favorable to the Union Pacific. The scandal negatively affected the careers of many politicians and nearly bankrupted Union Pacific. N° de réf. du vendeur 56381

Détails bibliographiques

Titre : The Credit Mobilier of America. A paper read...
Éditeur : Sidney S. Rider, Providence
Date d'édition : 1881
Edition : First Edition.