HIS 330 • Civil War and Reconstruction

Union Pacific and the Crédit Mobilier Scandal

From Business Conflict to Political Conflict

The controversy became more serious when Crédit Mobilier stock reached members of Congress. The Poland Report found that Oakes Ames sold shares at favorable terms and intended the transactions to influence congressional action that could affect Union Pacific.

The report did not prove that every member connected to the stock had been bribed, but the transactions showed why congressional oversight itself had become part of the scandal.

Thomas Nast political cartoon from 1873 addressing public corruption and ownership of Credit Mobilier stock.
Thomas Nast, “Every Public Question with an Eye Only to the Public Good,” 1873. Library of Congress, LC-USZ62-99135. No known restrictions on publication. Library of Congress record.

Nast’s cartoon is useful because it shows how quickly Crédit Mobilier became a symbol of damaged public trust. The image attacks the broader political culture surrounding the scandal rather than serving as proof of the financial arrangement itself.

Sources: Poland Report, 1873; Mark Wahlgren Summers, The Era of Good Stealings.