The Forgettable Presidents A construction company that Union Pacific Railroad hired to build the...

The Forgettable Presidents

A construction company that Union Pacific Railroad hired to build the transcontinental railroad

Really Credit Mobilier was being run by executives of Union Pacific (T. Durant)

Credit Mobilier overcharged Union Pacific for its work348% profits!

Gave stock to Congressmen & VP Schuyler Colfax to keep it quiet

Uncovered by newspaper72 million given for a 53 million railroad

Treasury agents (IRS) and whiskey distributors scammed the US government out of millions of tax revenue from whisky

In 1875, Grant in a reforming mood wrote, "Let no guilty man escape."

In 1875, Grant’s personal secretary and chief treasury clerk indicted

1860 Financiers Gould and Fisk got close to Grant’s brother in law and then Grant himself

Got Grant to hire an assistant Treasury Secretary connected to Gould and Fisk

“insider information” on gold prices and when to buy and sell

Huge panic after Grant found out

Over 40 family members in government appointments and employment

Which image better describes the late 19th century?

Carnegie, Rockefeller, Vanderbilt made $$$, beautiful mansions, new/modern factories, America’s economy grows….

BUT 1890, 11 million of the nation's 12 million

families earned less than $1200 per year of this group, the average annual income was

$380, well below the poverty line Corruption and manipulation with political

machines (Are we really a democracy?) Corruption in the national government….