The Democratic advocate., 1884-05-31
Grant Not Guiltless.

Grant Not Guiltless.
The firm of Grant & Ward, composed of
Gen. U. S. Grant, Ferdinand Ward, Jas. d.
Fish and U. S. Grant, Jr., whose failure has
wrecked so many people, was grand fraud
and swindle from its very creation. They
called themselves bankers and brokers. Their
occupation consisted in receiving money from
their customers to invest in Government con-
tracts from which fabulous profits were prom
ised. No such contracts existed. For
time they progressed swimmingly, and paid
large dividends. The monthly dividends were
so large that Gen. Grant from special part
ner became general one, and authorized the
use of his name and influence in procuring
business for the firm This influence induced
many persons to invest money with the firm,
the largest investor being James d. Fish, the
president of the Marine Bank, which suspend
ed few days before the rascality of Grant
Ward became known. Mr.. Fish was spe-
cal partner of the firm of Grant & Ward, and
became general one the same time General
Grant did, and upon his representations as to
the solidity of the firm and the genuineness OF
its business transactions.
Ferdinand Ward, after the affairs of the
firm were investigated, was arrested and put
in JAIL A few days after Mr.. Fish was ar
rested. Then the press reporters began to
seek out information concerning the inside
workings of the swindling transactions, and
some correspondence between Gen. Grant
and Mr.. Fish was brought to light.
The letters are as follows:
New YORK, May 4, 1882.
Nh Dear General AS we are both very
busy, being confined to my bank and you
constantly being called out of the city in bust
ness matters, we seldom meet, although we
are members of the same firm. Do you not
think it would be well for the older heads to
meet and talk over the business done by the
Younger heads? / do not understand the
Government contracts; perhaps You can throw
some light upon them. Advise me when |
can have an interview with you and we can
talk over these matters. Yours very truly,
JAMES d. FISH.
Nh Dear Mr.. Fish Your favor of - is
ut hand, and my absence from town has pre-
vented me acknowledging it before.
1 agree with you that the older ones should
look after the younger heads and see how they
are doing.
am about to leave town for few days, but
upon my return | will make an appointment
to meet you before clock on some day of
which will inform you.
Yours very truly, u.S ). GRANT.
On the 9Th day of July, 1882, Mr.. Fish be-
gan to think that perhaps it would be well for
him and Gen. Grant to exercise little more
supervision over the business of Grant Il
Ward. Accordingly, he wrote letter to the
General suggesting that they ought to counsel
together, and at the same time he took pains
to state his understanding of whatthe firm was
doing. After mentioning the fact that he had
endorsed and negotiated notes of Grant X
Ward to the amount of 500, 600, he went on
TO say: -... -........-. ..
ssThese notes, as understand IL, are girell
for no other purpose than TO raise money TOR
The pGymem Of grain, &c, purchased TO fH
the GooernBtem contracts"
Here was distinct, clear, unequivocal ref
erence to the business of the firm IN Govern
ment contracts, contained in letter to Gen.
Grant. which Gen. Grant received the day
after it was written, and which lie answered
in note, every word of which is in his own
handwriting, as follows:
"NEw YORK Cry, July 6, 1882.
"My Dear Mr.. Fish: On my arrival in
the city this A. NJ, find your letter of yes
terday, with letter from Thos. L. James, Pres.
of Lincoln N Bank, and copy of your reply
to the latter. Your understanding an regard
to our liabilities IN the. firm Of GRANT WARD
is the same as mine. If you desire 1t, | am
entirely willing that the advertisement OF the
firm shall be so changed as to express this
Not having been in the city for more than a
week, have large accumulated mail to look
over and some business appointments to meet,
so that may not be able to get down to see
YOU to-day. But if can, | will 60 before 8
o'clock. Very truly yours,
''U. S. GRANT"
A second letter, which was written by a
clerk in the Office of Grant & Ward and signed
by Gen. Grant at Ferdinand Wards request,
was sent to Mr.. Fish at later hour on the
same day. 1t is in these words:
'.NEw YoRx, July 6, 1882.
4sMy Dear Mr. Fish: In relation to the
matter of discounts kindly made by you for
account of Grant & Ward, would say that
think the investments are safe, and l am will
ling that Mr.. Ward should derive what profit
and influence may bring. Yours very truly,
"U. S. GRANT"
These letters show that Mr.. Fish was de-
sirous of knowing more concerning the busi-
ness and of exercising some supervision over
it He appealed to Gen. Grant on the sub
ject of contracts because it was through the
name and influence Of Grant that he went
- L. oo,,ao.,, ond ba;no accurad nc Grant s
letters show, that the investments were safe,
&c. he felt ut ease concerning the conduct OF
the firm.
Ferdinand Ward is in Jail, where be ought
to be. Mr.. Fish may not be wholly excusa-
Bile; yet Grant, who is as deepin the rascality
nearly as Ward, goes free, and the press and
people are expending large amount of sym
pathy on him: This is simply toadyism. 1t
is disgusting. Gen. Grant was twice Presi-
dent of the United States. He knew that any
government contract that paid twenty per
cent. month profit was swinGle, yet these
profits were divided for several years on these
bogus contracts. His attention to them was
called two years before the swindle was ex-
posed, and it is presumable that he Knew, by
Investigation. that they were bogus. To con-
elxde otherwise Is 10 conclude that he is an
idiet. a a E1as ia2 581
Il wouA seem 70 be a sevese commentary
upca the American public and American ia-
stitutioas for an ex. President TO be consigned
toafelon' cell for Wholesale sTindlipg. Yet,
an ex.President is no more in this country
than any other citizen, under the law. He
ise1fitled To no superior privileges. From the