Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-10-10
GRANT AND TIE COOKIES.

1t is definitely ascertained that ex-Presi-
dent johnson had S73, 600 on deposit in the
First National Bank of Washington, which
was owned in large part by Jay and Henry
D. Cooke. The first intimation be had of
the failure was the telegrsphic announce
ment Of the fact published in the papers.
What portion of this amount he will recov-
er is question which the future alone will
determine. 1t is reported that the bank
will probably pay seventy-five cents on the
dollar, but that is only guess-work. What
ever the ex-President may recover will be
paid him in installments st such times as
may suit the whim of the receiver. What
We have said in regard to ex,President
johnson will apply to every other deposit
tor, with one single exception. President
Grant had large amount on deposit in the
First National Bank, and it has been
repeatedly charged that bis money
was returned to him after the
bank had suspended, or after it
was determined to suspend, which
is practically the same thing. 1t is certain
that he lost nothing by the suspension of
the bank. Why this distinction? Why
should Grant be protected and not ex-Pres-
ident johnson, or for that matter, any other
depositor? There is some reason for this
favoritism which should be known to the
public. The New York Sun furnishes
some significant facts bearing upon the sub
ject. That paper says:
'It is a grave question, in view of the re-
cent developments, whether the President
was informed in advance Of the impending
failure Of Jay Cooke & Co., and the First
National Bank at Washington, where he
kept his money. When Gen. Grant visited
the capital few weeks ago he was the guest
of then Governor Henry D. Cooke, at his
residence IN Georgetown, who made an
entertainment in his honor. Soon after
that incident Gov. Cooke went to Long
Branch anditheTe arranged the app ointment
of Boss Shepherd IS his successor. And as
late as the 18th of September the President
addressed him a letter approving every
thing he had done, and endorsing the ring
without stint or condition. The very night
before the crash the President was the guest
of Jay Cooke at his palatial mansion at
Chelton Hills, and was welcomed with all
the homage that had been hsbitually lavish
ed upon him in that luxurious abode. It
is known that since the failure, the Presi-
dents deposits have been returned to him
from the First National, and that the reason
given l. that they were special. But it is
also known that the President was allowed
a large interest upon these deposits, and
consequently that they were thus deprived
ofall special nature. This is either true,
or else the bank frsudulently
took the money Of depositors to pay the
exorbitant interest. In any event, looking
at these facts abstractly, and the peculiar
intimacy between the President and the
members of the bankrupt firm, which he
had elevated, pstron,zed, and protected with
the whole power of his Office, the question
now naturally and almost necessarily oc-
ours, did Gen. Grant know that they were
about to break, and that the First National
was utterly ruined by the perversion OF its
funds to their use?
"When the Black Friday business was
partially investigated, which disclosed some
astounding testimony in spite of much per-
jury and concealment, the committee re-
fused to approach the White House ex-
cspt On Bonded knees. Gen. Garfield
and his associates insisted on white
washing, and the scandal was daubed over.
The times have changed. This is a far
graver matter, though the other was dark
enough, and the country has a right to
know how far the President was compli-
Gated with the rotten concern, and what
were his real relations to it. Though the
Chief Magistrate, he has the responsible
ties of citizen, and should be required to
testify like the humblest 10 the land. The
law makes no exception and creates no
privileges among the people. Let Gen.
Grant be summoned when Congress meets
to tell what he knows about this shameful
business, by which thousands of helpless
women and children have been reduced to
beggary."
Here are very grave accusations under
which Grant should not allow himself to-
rest. His friends should demand a thor,
ough sitting of the matter. 1t will not do
to say that these charges are made by the
"pirate of the press" as the Grant organs
delight in calling the editor Of the New
York Sun. They are passed from lip to
lip, and hundreds Of thousands Of people
believe there is more foundation for them
than Grant and his intimate friends are
willing to acknowledge. Notwithstanding
the withdrawing of the committee, large
proportion ofthe people do not believe that
Grant is innocent of completely in the
"Black Friday scandal. The President of
the United States should be a man above
reproach, and Grants partisan friends should
not protect him while he heaps one scandal