Popular misgovernment in the United StatesCruikshank, Alfred Byron
History
Popular misgovernment in the United States
Cruikshank, Alfred Byron
Suffrage -- United States; United States -- Politics and government
In 1867-8 was the famous Erie Railroad scandal which for months occupied
the attention of the public of the entire country. It presented a series
of dramatic incidents, and the merest possible outline of its history is
sufficient to enlighten the reader as to the rotten conditions then
prevailing in New York State politics. William M. Tweed was the
political boss of New York City and was aiming to control the
Legislature. The judges of the New York Supreme Court had been elected
by manhood suffrage and one of them named Barnard was one of his
creatures. Jay Gould, a financial adventurer of New York City, who died
worth fifty millions of dollars, was then at the beginning of his
career; one of his associates was a still more picturesque adventurer
named Fisk. The Vanderbilts, then and now a very wealthy family of New
York City, desiring to get control of the management of the Erie
Railroad Company started to purchase in the open market enough shares of
its stock for that purpose. To defeat this project one Drew, then in
control of the Erie Railroad Company, issued 58,000 new shares of Erie
stock. It was charged that this issue was illegal and that Drew kept
printing the shares as fast as the Vanderbilts could buy them. Jay Gould
was reported to have pocketed several millions by the transaction.
Thereupon, the Vanderbilts took legal proceedings to annul this 58,000
shares. Drew, Fisk, Gould and others escaped during a fog in rowboats
from New York City across the Hudson River to New Jersey and began a
suit for conspiracy against the Vanderbilts and Judge Barnard of the
Supreme Court. An attempt to kidnap them and bring them back to New York
was made and failed. Gould obtained a handsome residence in New Jersey,
and the Drew clique and he began an effort to acquire a corrupt control
of the New Jersey Legislature for the purpose of getting their acts
legalized, and also had a bill introduced into the New York Legislature
with that object. Doubtless it was hoped to set the two legislatures of
New York and New Jersey underbidding each other for the Drew-Gould
money. The New York legislators were only getting $300 a year salary at
that time, and were eager for a share of the money which was expected to
be distributed in payment for this legislation. All ordinary business of
the New York legislature was comparatively neglected, while groups
gathered about the hallways and the cloak room of the Capitol in Albany
talking in undertones. A fair rate for members’ votes was mentioned as
between $2,000 and $3,000 each. The Erie people, however, at first
offered only $1,000 a vote, $500 down and $500 when the bill became a
law. Boss Tweed advised the members to stand firm and they would get
more from the Vanderbilts. The matter got before the Railroad Committee
of the Assembly. The Committee was reported to be divided. Suddenly a
rumor started that Vanderbilt and Drew were compromising. This created a
panic among the Albany legislators.
Public-domain text, read in full here on John Shaqi.
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