The Wilmingtonian. (Wilmington, Del.) 1882-188?, 1884-05-17
ULYSSES S. Grant.

The impartial verdict of the American
acted with indecent haste when it rail-roaded
through the bill pensioning for life Gen.
Grant out of the United States Treasury.
The idea of pensioning Gen. Grant at a
time when his name is directly and inti-
| stupendoas swindling schemes of modem
| times is simply monstrous; and if the entire
| Grant family are not committed to Jail it
will be simply owing to Grants supposed
political influence. Tie Phila. Times in
speaking of the Grant-Ward swindle says:-
sit is none the less apparent that General
Grants name in connection with the firm
was of much more value than any capital he
put into it. 1t brought the firm patronage
and it enabled them to secure credit which
other men with no more resources could not
have obtained.
"This is one public aspect of the case
which is not creditable. 1t is distressing to
think of name like General Grants being
employed as capital in a speculative bust
ness. 1t was apparently dishonest bust
ness, also, for the securities deposited with
the firm have been ypothecated-that is,
the firm lends money upon certain securities
and then borrows larger sum upon these
same securties-which is another word fol
the conversion of property which is held
| ~, 30 IL
agreed in New York that this practice
comes under the view of the penal statutes. ,
} The Morning Meas in speaking of tht
! Grant. Ward fiasco says that 1t aoas a fraud
pure and simple. "...
Some gushing sentimentalists say that thu
innocent and unsuspecting old man did no
} suspicion his wicked partners, yet this il
t denied in toto by William G. Smith, th'
. Stock Exchange member OF the firm, VII,
7 said: General Grant and his son hay
= known of these transactions"
f Not only was Gen. Grant conyersant wit
I the transactions of the firm, but it wa
! because of Grants prior relations to til
a Federal Government and with prominen
6 politicians that the firm, of which he was
e member, was enabled to get involved te
:. million (s10,0O0,0 ,00O.00) dollars upon
/ purely fictitious capital.
e Not only was there fictitious capital a
d the base of the Grant Ward speculation
o but the firm absolutely raised money O
IS bonds which were deposited with thel
10 solely for safe keeping,as will be seen by tn
lie following, viz: Freeman Clarke, of Roche
y, ter has attached property of all members
if the firm of Grant & Ward, including that
b General Grant, and begun suit to recov'
I'd bonds to the value Of 100000 which we
" deposited with the firm for safe keeping, al
which were hypothecated by Grant & Co.
of Senator Bayard and other Senators ov
at their constituents an explanation for Il
or Grant raid upon the United States Treasur
be which received their Senatorial encourag
W. ment.
:" Gen. Grant has already received an hu
n dred fold more at the hands of the Americ;
lie people than his jnst deserts have wa
he ranted. 1t is an indisputable fact that /
Tie second Presidential administration was t
at most venial that has ever disgraced Anne
can history. When U. s. Grant entered t
so | e., ~, Coro
ow and House of Representatives were almc
an unanimously Republican, but his admin
res tratiou became so prohigate and he