The story of the first trans-continental railroad : $b its projectors, construction, and history — John Shaqi
The story of the first trans-continental railroad : $b its projectors, construction, and historyBailey, William Francis
History
The story of the first trans-continental railroad : $b its projectors, construction, and history
Bailey, William Francis
Railroads -- United States -- History; Union Pacific Railroad Company
The stock of the Credit Mobilier up to the assignment by Ames to the
seven trustees, had not met with anything like a ready sale. For
reasons of policy, some of this was assigned to members of Congress,
Senators, and other public men. Some being paid for, others had it
carried on their account. After the crisis had passed, the value of
the stock rapidly appreciated and in the forthcoming political
campaign the subornation of Congress in the interest of the Credit
Mobilier by the use of this stock was made an issue and occasioned a
great outcry. The accusation was thoroughly investigated by two
committees during the next session and it was clearly proven to have
been unfounded, so far as members of Congress having received the
stock as bribes, it being demonstrated that the Company had no further
favors to ask from Congress and that the members receiving it had paid
the market value therefor. Notwithstanding, Oakes Ames was called to
the bar of the House and severely censured for having sold it to them.
The facts were, popular clamor demanded a scapegoat and Ames was
selected. This, and the anxiety and strain of the load he had been
carrying proved too much for him and he died May 8th, 1873. After his
death the voice of calumny silenced, his work and character received
the recognition it so well deserved.
The cost of material used in the construction of the road was
enormous, thus the ties brought from the East ran as high as two
dollars and fifty cents laid down in Omaha. The rails for the first
four hundred and forty miles one hundred and thirty-five dollars per
ton. This was before railroad connection was established between
Council Bluffs and the East. After that the price got down to
ninety-seven dollars and fifty cents per ton.
The pay of laborers ran from two dollars and twenty-five cents to
three dollars and fifty cents per day. Train men two hundred dollars
per month for conductors, one hundred and twenty-five dollars for
brakemen, two hundred dollars to two hundred and fifty dollars for
engineers, and one hundred and fifty dollars to one hundred and
seventy-five dollars for firemen. Telegraph operators eighty dollars
to a hundred dollars.
At times the Company (Credit Mobilier) was paying as high as five
hundred thousand dollars per month interest. And in fact it was
claimed by several of the directors that the paramount reason for the
haste displayed in building the road was not so much the competition
with the Central Pacific as it was to get rid of the enormous interest
charges they were paying and which they would cut off upon the road
being accepted by the Government and the consequent receipt of
Government Bonds.
CHAPTER IV.
_Commencement of the work._
Selection of Omaha as Eastern Terminus--Celebration Over Breaking
Ground--Speech, George Francis Train--Commencement of Work--Conditions
October, 1864--Routes Considered.
Public-domain text, read in full here on John Shaqi.
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