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What was the Credit Mobilier scandal?

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Oakes Ames, as head of the CrŽdit Mobilier, in 1867 assigned contracts to seven trustees to build the remaining 667 mi (1,074 km) of road for a total sum that brought profits variously estimated at from $7 million to $23 million. This process depleted generous congressional grants to the Union Pacific and left it under a heavy debt by the time of its completion in 1869.

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