The Eaton Democrat. (Eaton, Ohio) 1875-1903, 1885-01-15
VANDERBILT'S OFFER.
That Celebrated Debt and Judg-
ment Presented to Mrs. Grant.
The Offer Firmly Refused by the Grateful
Lady, and the Millionaire Insists.

New YORK, January 1.-THE following
letter was sent Mrs. U. S. Grant by Mr..
VIM. H. Vanderbilt:
mo. $40 FIFTH AVENUE, January 10, 1865.
'Mrs. ULYSSES s. GRANT-Deaf Madam:
So many misrepresentation have appeared
in regard to the loan made by me to Gen
eral Grant, and rejecting unjustly upon
him and myself, that it seems proper
Sunday the 4th of MAY last, General
Grant called at my house and asked me to
lend him S150,G00 for one day. l gave my
check without question, not because the
transaction was busines-like, but simply the
request came from General Grant. The
misfortunes which overwhelmed him in the
next twenty -four hours aroused the SYM
pathy and regret of the whole country.
You and he sent me within few days time
deeds of your joint properties to cover this
obligation, and urged my acceptance on the
ground that this was the only debt of honor
which the General had personally incurred
and these deeds l returned. During my alb
sence in Europe the General delivered to
my attorney mortgages upon all his own
real estate, household effects and swords,
medals and works of art which were memo
rails OF his victories, and presents from
Governments all over the world. These
securities were, in his judgment, worth
the S15O,OO0. AT his solicitation the neces-
sary steps were taken by judgment, etc.,
to reduce these properties to pos
session, and the articles mentioned have
been this day bought in by me, and the
amounts bid applied in reduction of the
debt. Now that 1 am at liberty to treat
these things as my own, the disposition of
the whole matter most in accord with my
feelings is this: present to you, as your
separate estate, the debt and judgment l
hold against General Grant; also, the
mortgages upon his real estate, and all of
the household furniture and ornaments,
coupled only with the eondi-
sions, medals, gifts from the United
States, States, cities, foreign governments
and all articles of historical value and in
terest shall at the Generals death, or, If
you desire it sooner, be presented to the
Government at Washington, where they
will remain as perpetual memorials of his
fame and of the history of his time. 1 in
close herewith assignments to you
Of the mortgages and judgments,
and o deed sale OF of truse in prUPSSE wPSeE
the articles of historical interest are emu.
merated. A copy of this trust deed will,
with your approval be forwarded to the
President of the United States for deposite
in the proper department. Trusting this
action will meet with your acceptance and
approval, and with kindest regards to
your husband, l am yours respectfully,
''W. Fl. .VANDERBILT,"
NEW YORK CITY, January 10, 1885.
"DEAR SIR: Mrs. Grant wishes me to
answer your letter of this evening to say
that while she appreciates your great gem
erosity in transferring to her the mortgage
given to secure my debt of S150, 900, she can
not accept it in whole. She accepts with
pleasure the trust w hich applies to articles
enumerated in your letter to 90 to the Gov
or sooner, at her option. In this matter
you have anticipated the disposition which
l had contemplated making of the articles.
Tney will be delivered to the Government
as soon as the arrangements can be made
for their reception. The papers relating to
all other property will be returned with the
request that you have it sold and the pro-
ceeds applied to the liquidation of the debt
which | so justly owe you. You have
stated in your letter, with minutest ac-
curacy, the history of the transaction which
brought me in your debt. I have only to
add l regard your giving me your check
for the amount, without inquiry, as an
act of marked and unusual friendship.
The loan was to me, personally.
got the money, as believed, to carry,
the Marine National Bank over day,
being assured the bank was solvent,
but owing to the unusual calls, needed as
sistance until it could call in it's loans.
was assured by Ferdinand Ward that the
firm of Grant & Ward had over $3.50. 900 to
their credit at that time in the Marine
Bank, besides 81 ,300, 600 of unpledged secur
tiles in their own vaults. l can not con-
clude without assuring you that Mrs
Grants inability to avail herself of your
great kindness in no way lessons her sense
of obligation or my own. Yours, truly,
"U. S. GRANT.
''W. H. VANDERBILT. ESQ.,"
In answer to this Vanderbilt insists on Mrs.
Grants acceptance of the offer and says:
81 shall not be defeated in the purpose to
which I have so much at heart. l will
ia St q is
from the sales ale ' Of the real estate q deposit;in S%
the Union Trust Company With the money
thus realized 1 will at once create with that
company trust, with proper provisions for
an income to be paid Mrs. Grant during her
life, and giving. power to her to
make such disposition of the principal
by her will as she may elect.''
Mrs. Grant replied that she could not
would not except Vanderbilt's munifcence
in any form.