Credit Mobilier

A ociation designed to promote industrial enterprises, combining the functions of a construction and a banking company, as in France 1852. Bonds or other obligations are often i ued, and advances are made to canals or other enterprises. The Pa. Fiscal Agency, chartered 1859, constructed the Union Pacific R.R. Many members of Congre were bribed 1867-68 by presents of its stock to vote for legislation desired by the railroad. In 1872 the Speaker demanded a committee of investigation, which made a report Feb. 1873, recommending the expulsion of one of its members for selling shares below their value to others" with intention to influence the votes of such members," and of another for receiving such shares through his son-in-law, who had been the manager of the U. P. interests in Congre . The House condemned these actions, but did not expel.