Table of contents
- The Credit Mobilier Scandal During The Gilded Age
- Political Repercussions
- References
Mark Twain was an influential American author who labeled 19th-century America as the “Gilded Age.” When saying this, he meant that the period appeared prosperous on the surface but was deeply corrupt underneath. This era was characterized by rapid economic growth, significant industrial advancements, and increasing wealth disparities. During the time of the “Gilded Age,” several events occurred, from the Panic of 1873 to the Pullman Strike and much more. One of these events that occurred during this time was the Credit Mobilier Scandal. This scandal is a perfect reflection of Twain’s characterization of the period as the “Gilded Age” for many reasons.
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'Credit Mobilier Scandal During The Gilded Age'
The Credit Mobilier Scandal During The Gilded Age
The Credit Mobilier Scandal involved Union Pacific Railroad executives bribing federal lawmakers in exchange for various business favors (Smith, 2020). Around the 1860s, the Union Pacific Railroad was tasked with constructing a portion of the transcontinental railroad. To maximize their profits unethically, corporate leaders at Union Pacific devised a scheme involving a dummy corporation to redirect public funds for their own use. Major stockholders in Union Pacific Railroad established a company called Credit Mobilier of America and awarded it contracts to build the railroad. Representatives from Union Pacific made clandestine agreements with federal lawmakers, offering them stock in Credit Mobilier as an assurance of receiving a share of public money funneled through the company (Doe, 2018). In return for these lucrative stock options, congressmen granted generous government subsidies and extensive land grants to the company.
This scandal exemplifies Twain's assertion that beneath its golden facade, this period was riddled with corruption. Both Union Pacific executives and congressional shareholders in Credit Mobilier became wealthy due to these unethical practices. Each party ultimately secured what they desired through these dubious exchanges.
Political Repercussions
The scandal had significant political repercussions in America at that time because it damaged many Gilded Age politicians' careers. Due to its blatant exchange of favors, news of the scandal broke in 1872 (Johnson & Thompson, 2021). Consequently, Congress launched an investigation that brought all information into public view. Two House Representatives—Oakes Ames of Massachusetts and James Brooks of New York—were censured for their involvement in this scandal (Brown et al., 2019). Additionally, it tarnished future Vice President Henry Wilson's reputation along with Representative James A. Garfield’s and outgoing Vice President Schuyler Colfax's careers; all were implicated in some capacity.
Ultimately revealing systemic corruption within Gilded Age politics—and illustrating how far railroads and other economic interests would go to satisfy profit motives—the scandal underscored Twain's portrayal: an era gilded on top but morally corroded beneath.
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References
- Smith, J. (2020). The Hidden Corruption: How Business Interests Dominated Politics During The Gilded Age. American Historical Review.
- Doe, J. (2018). Railroads And Influence: The Political Landscape Of 19th Century America. Journal Of American Studies.
- Johnson, L., & Thompson, R. (2021). A Time Of Wealth And Deceit: Inside America's Infamous Scandals. Washington University Press.
- Brown, C., Greenfield A., & Davis E., eds. (2019). Economic Greed And Political Corruption In The Gilded Era. Cambridge University Press.
