The following July, 1867, Garfield sailed for Europe, and in order to obtain funds for this trip, he turned over advanced drafts for several months of his congressional salary. When he returned home in November, he needed a small sum, for current expenses, and borrowed three hundred dollars of Oakes Ames. This loan he paid back in 1869.
Not long after this transaction, Garfield was informed that his name was upon Oakes Ames' book as holding ten shares of the Credit Mobilier.
He demanded an explanation, and Mr. Ames appeared before a committee of investigation, upon December 17, 1872. His testimony was as follows,—
"In reference to Mr. Garfield," said the chairman, "you say that you agreed to get ten shares for him and to hold them till he could pay for them, and that he never did pay for them nor receive them?"
"Yes, sir."
"He never paid any money on that stock, nor received any money from it?"
"Not on account of it."
"He received no dividends?"
"No, sir; I think not. He says he did not. My own recollection is not very clear."
"So, that, as you understand, Mr. Garfield never parted with any money, nor received any money on that transaction?"