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What was the Credit Mobilier Scandal. Summary and Definition of Credit Mobilier Scandal.

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The Credit Mobilier Scandal of 1872 represents the political corruption that characterized the Gilded Age 1865-1900.

Credit mobilier scandal definition. History illegal manipulation of contracts by a construction and finance company associated with the building of the Union Pacific Railroad 186569. Scandal erupted in election season 1872 as president and UP friend Ulysse Grant came up for his second term. This period often referred to as The Era of Good Stealings saw frequent.

Crédit Mobilier Scandal in US. Company that overcharged Union Pacific on purpose so the stockholders could pocket the difference and give some of the money to Congressmen Who set up the. A joint stock company formed for general banking business or for the construction of public works by means of loans on personal estate after the.

This scandal erupted in 1872 when Union Pacific Railroad insiders formed the Credit Mobilier construction company and then hired themselves at inflated prices to build the railroad line earning high dividends. The incident established Crédit Mobilier of America as a symbol of post-Civil War corruption. 1 Summary 2 Exact Definition 3 Importance 4 Helpful Links A scandal between the Union Pacific Railroad and Crédit Mobilier of America.

The scandal erupted in 1872 when the details of the Crédit Mobilier Company became an issue of the presidential campaign of that year. The Credit Mobilier scandal of 1872-1873 damaged the careers of several Gilded Age politicians. Crédit Mobilier of America scandal synonyms Crédit Mobilier of America scandal pronunciation Crédit Mobilier of America scandal translation English dictionary definition of Crédit Mobilier of America scandal.

Several important officials were involved including vice presidential candidate Henry Wilson incumbent vice president Schyler Colfax future president and member of the House of Representatives james a. It was involved in a scandal in 1872 in which high government officials were accused of accepting bribes. They sold or gave shares in this construction to influential congressmen.

Crédit mobilier definition a joint-stock company organized in 1863 and reorganized in 1867 to build the Union Pacific Railroad. The Credit Mobilier scandal academics might say is a rich text. Garfield and Speaker of the House James G.

Major stockholders in the Union Pacific Railroad formed a company the. It was a lucrative deal for the congressmen because they helped themselves by. It is classic tale of Gilded Age politics featuring colorful self-serving politicians who cravenly and usually ineptly tried to cover up their involvement in the affair.

Major stockholders in the Union Pacific Railroad formed a company the Credit Mobilier of America and gave it contracts to build the railroad. When it was found out that government officials. The creation of the Credit Mobilier company Actions taken by representatives of the affiliated railroad Politicians involved in the scandal The breaking of the scandal in 1872.

The Crédit Mobilier scandal of 1872-1873 damaged the careers of several Gilded Age politicians. The Credit Mobilier Scandal of 1872 1873 involved the illegal manipulation of contracts by the Union Pacific Railroad and the Credit Mobilier construction company. In 1872 the House of Representatives made an extensive inquiry into charges of bribery in connection with the building of the Pacific railroads.

The Credit Mobilier Scandal of 1872 1873 involved the illegal manipulation of contracts by the Union Pacific Railroad and the Credit Mobilier construction company. When the Union Pacific Railroad was authorized to construct a transcontinental railroad with substantial financial support from the federal government officers and directors of the company devised a plan to make an immediate profit from its construction by fraud. Summary and Definition of Credit Mobilier Scandal Definition and Summary.

The vehicle for this fraud was a company called Credit Mobilier of America. The Credit Mobilier Scandal of 1872 1873 involved the illegal manipulation of contracts by the Union Pacific Railroad and the Credit Mobilier construction companyIn 1872 the House of Representatives made an extensive inquiry into charges of bribery in connection with the building of the Pacific railroads. Testimony from a lawsuit against the Crédit Mobilier contained a partial list of.