The Somerset herald. [volume] (Somerset, Pa.) 1870-1936, 1885-01-14
yaNpEs BrLrs CUR 10 GRANT.
The Millionaire Forgi. .es the Debt and
Restores All 'hs Property.

following letter 10 Mrs. Grant:
''S.o many misrepresentation have
appe AIRED in regard to the l''s made
BY ME to General Grant aIio reflect
ing umustly upon him aud myself
that il seems proper to briefly reclte
the facts.
'''On Sunday, the 4th May last,
General Grant called at my house
I'M d asked me to lend him one hun
dred and fifty thousand dollars Tor
o.ae day. | gave him my cheek
without question, not because the
transaction was business-like, but
simply because the request came
from General Grant The mlsfor-
tunes which overwhelmed him III
the next twenty -four hours aroused
the sympathy and regret OF the
whole country. You and he sent
me within few days the deeds of
your loint properties To cover this
obligation and urged my acceptance
on the ground that this was the only
debt Of honor which the General
bad personally incurred, and these
deeds returned.
During my absense in Europe
the General delivered TO my attoI-
neys mortgages upon all his own
real estate, household effects and
the swords, medals aud wo,k- of art
which were the memorials OF his
victories aud the presents from gov
ernments ali over the world. ilir-e
securities were. in his judgment,
worth the one hundred and fifty
thousand dollars. Al his soliciia-
tlon the necessary steps Were taken
10y Judgment, etc, to reduce these
properties to pnssession, and the ar
ticles mentioned have been this day
bought In bv me and the amounts
bid applied in reduction OF the debt.
Now that am at liberty to tree
taese things as nay own, the dispoSl-
tion of the whole matter, most III
accord with my feelings, is this:
Il present TO you a your separate
estate the debt aud Judgment hold
against GeSeral Grant also the
mortgages upon his real estate and
all the household furniture and or
naments, coupled only with the con
ditiun that the swords, commissions,
medals gifts from the United States.
States. cities and from foreign COVER
ments and all articles OF historical
value and interest shall, at the Cen
erals death, or if you desire it, soon
er, be presented 10 the government
at Washington, where tney Will re
main as perputual memorials OF his
fame and of the hlstors OF his time
| enclose herewith assignments To
you OF the mortgages and judgments,
a bill of sale of the personal proper
ty and deed OF trust in which the
articles of historical interest are emu
merated. 4 copy of this trust deed
with your approval, be forwarded to
the President of the United States
for deposit in the proper depart
meut.
Ic this letter General Grant sent
the following reply
Mrs. Grant wishes me to answer
your letter of this evening to say
that, while she appreciates ) our great
generosity in transferring 10 her the
| mortgage given to sec0re my debt OF
Sl50,000, she cannot accept it III
whole. She accepts with pleasure
the trust which applies to articles
enumerated in your letter to go to
the government of the United States
AT my death or sooner, at her option
In this matter you have anticipated
the disposition which | had contem-
plated making of the articles. They
will be delivered TO the government
rs soon as arrangements Can be made
for their reception.
Papers relating to all other prop
erty will be returned, with the
request that YOU have it sold aud
the proceeds applied to the liquida-
ton of the debt which | so justly
owe YOU. You have stated in
your letter with the minutes accura-
cy the history of the transaction
which brought me in your debt. ]
have only to add that regard your
giving me the 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 b tnk over day,
heing assured that the bank was
solvent, but owing to unusual calls
needed assistance until 1t C, ull call
in its loans. | was assured by Fer
dinand Ward that the firm OF Grant
& Ward had over S660,0Q to their
credit at that time in the Marine
Bank. besides 81 100000 of unpledg-
ed securities in their own vaults.
II cannot conclude without assur-
ing you that Mrs. Grants Inability
to avail herself of your great kind
ness in no way lessons either her
.sense of obligation or my own"
Mr. Vanderbilt's reply, Gated to-
day, is as follows:
"On INV return home last night |
found your letter III answer to mine
TO Mrs. Grant. | appreciated fully
the sentiments which actuate both
Mrs. Grant and yourself in declining
the part of any proposition relating
to the real estate. | greatly regret
that she feels it her duty to make
this decision, as | earnestly hoped
that the spirit in which the offer was
made would overcome any scruples
in accepting it But | must insist
that shall not be defeated in a pur
pose TO which / have given so much
thought and which | have so much
at heart. | will. therefore, as fis,
as the money is received from the
sales of the real estate, deposit it in
the Union Trust Company.
With the money thus realized l
will at once create with that CON-
pany a trust, with proper provisions
for the income 10 be paid to Mrs
Grant during her life. and giving the
power to her to make such disposi-
ton of the principal by her will as
she may elect"
Tonight Mrs. Grant wrote a let
ter 10 Mr. Vanderbilt declining, in
positive terms, 10 accept his munitl-