History, 03.05.2021 20:50 oscargonzalez1991

What was the Credit Mobilier scandal? This scandal involved credit being given to miners in search of gold. The credit was given against the land claims and would fall back into the hands of the creditors when they could pay it back.
This scandal involved extending large amounts of credit to farmers, knowing they could never pay that much back. Thus the banks could later foreclose on them and gain the property.
This scandal involved the illegal discounting of railroad stocks through a company called the Credit Mobilier. Many members of the Grant administration were involved in the scheme.
This scandal involved extending large amounts of credit to merchants, knowing they could never pay that much back.
This scandal involved land being designated for the Indians to be mobilized there. Only later to be taken away from them.

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