Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1882-01-20
raE President RETIRING
FUND.

The New York papers contain an ex'
pose OF, the fact that the presidential
Retiring Fund Of $500 600. originated
for the benefit OF sx.President Grant, has
experienced Q serious shrinkage. It will
b. remembered that John w. Maeksy
headed this subscription with $4,000.
and naturally enough Nevada feels an
interest In the, matter. Jay Gould and
w. Il. Vanderbilt were the only two
other men In America who felt equal to
the tssk OF equaling Mr.. Maskay's Gnan.
eial exploit.
George Jones. the chief stakeholder Of
the New York Times, was the originator
Of the schsms. and was at first custodian
Of the funds. It is distinctly charged
that he applied the interest on the money
received by him. up to the time Of its in
vestmsnt in railroad bonds, to his own
uses.
Ell. Governor Morgan. Of New York, il
ct present custodian OF the fund. having
succeeded to that position after the re-
tirsment OF Mr.. Jones. who had made
some rather rash investment Of Q portion
Of the funds.
A reporter of the Nail and Express tried
to get an explanation Of the affair. Here
10 the result:
"Goverpor Morgan. ! wish to inquire
how the General Grant fund OF $3.50. 0OO
was investedl" the reporter ventured.
81 consider that an impudent ques-
tiop," said the venerable man, while bis
face famed 90 that his cheeks, enoircled
BY his luxuriant white beard and hair,
looked almost purple red. "It's none
Of your business"
-''But the public wants to know about
it,"
..You din't contribute anything to the
fund, did your" rstorted the ex'Gov'
ernor.
"No. SIR"
"YOur paper didn't, did I'll"
..No. SIR" ....
..Thsn what have you to do with III
Il IL any ones business what becomes OF
q present which Q few gentlemen make
to General Graut?"
81 think it il the business Of the men
I have seen today, who say they con-
contributed to the fund, but never knew
what was done with their money. They
have heard the rumor that the fund has
shrunk badly. and very naturally they
would like to know what foundation 1t
has"
'.You can say from me that the $3.50.
600 il ss safe today as ever 1t was,' said
the ex.G Governor with the air oil q man
Who has come to o resolution to put his
hand in his pocket and make up o big
deficit.
.'But will you not tell me 10 what SO.
c%urities the $3.50. 900 was placsdf"
.No, sir. I won't; it's none OF your
business. and I hope you will print that
I say So"
It il understood that a. all the securi.
ties are Endorsed by Ex-Governor Nor.
gan, he will hold himself responsible Tor
whatever shrinkage there may be. Grant
has never received q cent Of the money.
The revised plan Of the contributors
seems to be that the amount shall not
be given 10 the eI.President. but that 1t
shall DO invested for the benefit OF e1-
Presidents for all time to come. The
interest (Which will be something like
Sl5, 900 q year, is to DO paid to Grant
until the date Of his death, at which
time Il will revert to the living eI.
President next in order. By this means
the $3.50, 900 Presidential Retiring
Fund Is to be made . national institu-
ton, and the amount may DO augmented
BY legislative appropriation or individ'
ual contributions. The inducements for
attaining the White House are increasing