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Crédit Mobilier scandal. The Crédit Mobilier scandal (French pronunciation: [kʁedi mɔbilje]) was a two-part fraud conducted from 1864 to 1867 by the Union Pacific Railroad and the Crédit Mobilier of America construction company in the building of the eastern portion of the first transcontinental railroad from the Missouri River to Utah ...
The Crédit Mobilier (officially the Société Générale du Crédit Mobilier, lit. 'general company for movable [collateral-backed] credit') was a French banking company created in 1852 by the Pereire brothers, and one of the world’s most significant and influential financial institutions in the mid-19th century. The Crédit Mobilier had a ...
Colfax massacre. Former historical marker in Colfax. Erected in 1950, the marker was removed in May 2021 due to allegedly biased language (it uses the term "riot" and refers to the incident as "the end of carpetbag misrule in the South"). The Colfax massacre, sometimes referred to as the Colfax riot, occurred on Easter Sunday, April 13, 1873 ...
Thomas Clark Durant (February 6, 1820 – October 5, 1885) was an American physician, businessman, and financier. He was vice-president of the Union Pacific Railroad (UP) in 1869 when it met with the Central Pacific railroad at Promontory Summit in Utah Territory. He created the financial structure that led to the Crédit Mobilier scandal.
On this day in economic and financial history... The world's oldest continuously operating bank was founded in Siena, Italy on Feb. 27, 1472. Banca Monte dei Paschi di Siena, or MPS, was born when ...
Schuyler Colfax (/ ˈ s k aɪ l ər ˈ k oʊ l f æ k s / SKY-lər KOHL-fax; March 23, 1823 – January 13, 1885) was an American journalist, businessman, and politician who served as the 17th vice president of the United States from 1869 to 1873, and prior to that as the 25th speaker of the House of Representatives from 1863 to 1869.
Teapot Dome in the Harding administration and the Credit Mobilier in the times of Ulysses S. Grant have been taken as the ultimate horror stories of capitalist democracy gone to seed. Measuring by money, [or] by the misallocation of national resources ... the S&L outrage makes Teapot Dome and Credit Mobilier seem minor episodes." [25]
William Darrah Kelley (April 12, 1814 – January 9, 1890) was an American politician from Philadelphia who served as a Republican member of the U.S. House of Representatives for Pennsylvania's 4th congressional district from 1861 to 1890. He was an abolitionist, a friend of Abraham Lincoln and one of the founders of the Republican Party in 1854.