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A two-part fraud by Union Pacific Railroad and Crédit Mobilier of America in building the first transcontinental railroad in the US. The scandal involved bribery, stock manipulation, and coverup of excessive costs and profits.
Crédit Mobilier Scandal, in U.S. history, illegal manipulation of contracts by a construction and finance company associated with the building of the Union Pacific Railroad (1865–69); the incident established Crédit Mobilier of America as a symbol of post-Civil War corruption.
26 kwi 2010 · The Crédit Mobilier scandal of 1872-1873 damaged the careers of several Gilded Age politicians. Major stockholders in the Union Pacific Railroad formed a company, the Crédit Mobilier of...
25 lut 2022 · Learn how Union Pacific Railroad executives and their fictitious company Crédit Mobilier of America defrauded the U.S. government and bribed politicians in the construction of the Transcontinental Railroad. Explore the background, the details, and the aftermath of the scandal that shook the Gilded Age.
Crédit Mobilier was a French banking company founded by the Pereire brothers in 1852, and involved in financing railroads and other projects worldwide. It faced a severe crisis in 1866-1867 and never recovered its former importance.
The Crédit Mobilier Scandal. The Levi Leonard Papers, The University of Iowa Libraries, Iowa City, Iowa. For Union Pacific executive Thomas Durant, it was a money-making machine. It was a...
Learn about the corrupt practices of the Union Pacific Railroad and its construction company, Crédit Mobilier, in the Reconstruction era. Find out how government officials, including future president James Garfield, were involved and how the scandal was exposed and investigated.
