The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1885-10-13
:, New York Herald. Sth inst.
F1rdfnanG Ward Speaks Out.

SFuihdhu Waru speaks OICs
There has been so persistent puhlic
demand thst Ferdinand Ward should
speak OH aud tei the tale OF his re-
ma kabis ffnanti2I des'li,gs and OF hi.
secret associates in ,titfH that be thi.
morning rEakes clear Ereast OF il to
he Herald.
| is Fer7 curious q very sad and to
many Others besides Wari a very dis.
graceful story which ,s given in his own
words this tdorning ii the readers of tn,
Herald, with letters Gnti other corrobo-
rative and explanatory documents. H.
reveals the htsnes and lie PROFITS Of men
many o. them Of high s!Gndfng in the
community; br5sness men who took
commissions from bid fer securing him
favors in financial Institutions Sbt Oh the,
controlled, or who accepted month alter
month at his hands pr6Ifls So great, up.
on their inves meps With. flfh. tha, i
not their cnnsciences, st:IT their hui
ness exp 'rience, musr have told then.
that such profi's cou'd no, he honpstl,
earned. Or poor General Grant, Ward
says that he never looked ct the books,
nut took everything To be right.
Ferdinand Ward, it seems, was the
son of.a missionary. He stuaied law il
the office OF The lale Scott Lrrd. H.
was Employed in the Produce Exchsu se
nafriei the daughter of a director ~
the Marine Bank, and thus was so uD-
fortunate as TO make the acquaintance
OF T 81, its president, with whom he
soon began lS Speculate. He made
deal of money ft1m i mine, and had one
hunhr. i lhnlsand dollars Of his own to
put into the firm Of Grant, Ward Il Fish
ir July. 1880, lhe other two partners
pht'inq in each an 81 ,al amount. In
November OF the same year poor Gen
eral Grant was admitted 10 the firm, snd
it seems that thereafter the f,lh began
to make frtEneni lossasi The coal mine
Of General G 'rdon. the West Shore
bonds of General Horace Porter and
various o,Ler losing Ventures we're en-
tered upoH, Ward asp5, Mostly Upon ,h,
Suggestion 81 the Grants, and it is Gu
rioGs to read that even Mr.. Jay Gou'd
acted the BENEVOLENT part OF adviser ioi
perfectly safe inanc al operation.
Mr. Ward has not explained how nc
came Upon the thoueht OF ''c,niracis .
or at whose she egeSfoh he invented this
felicstous excuse for abnormal profits =
W as it his Own If SO he seems to hav,
heen sound judge OF the nature OF the
men with whom be dealt They to k
their proh's, Is he shows; they received
their monthly reports of the earnings OF
"contracis"- they asked no ques-
tions They met at his Office and talk
ed Of Tie weather and pocke,ed ,heiI
checks-bul they ssked no questions
Surely, it is a bitterly dfsgracffd1 stor,
of unscruru'ous.gr gr ed which Wsrd thu
laws bare. Life insurance and also trust
companies figure in Wards siaienoen'.
and Ihe public curiosity viii he wbeited
/ by the lor & list of Initials given ss those
tof the men who Stood hehind Warner,
and in the dark as Ward says, shar-
ing the ,Wohle. II IS Curious to read
his statement that he handed over SO
great sum TO Warner because the men
behind Warner-ihe men whusa sigma
lures and inilIsls be now gives the Her.
ald-threatened to make trouble for him
il he did not do this; but it be did War
ner would "lry and see that l had no
trouble with his parties"
Public Opinion rightly condemns
Ward but in the light OF bis exposures
public opinion will also demand that he
shall not alone suffer the disgrace or the
punishment There is force in The words
with which he ccncluies his long con
Iversstion with the Herald. ut seems
to pe," be says, "that these men, several
Of them old enough to he my father,
some of whom had made conspicuous
fortunes in life before was horn, hav-
ling utilized me and my endeavors to the
Hume of millions IT dollars Of profits,
having patted me Cd tie back in the
MONDAY Of prosperity, lave now turn
ed awav and slipped so far into the hack
ground that the pubic look 10 me alol &
FOR xplanatlon and for restitution
Ehave fceep'ed nv position, and in order
that might do what man ought, have
stripped myself. As to he position OF
these others, Who have rot hsen stripped
and who have not STRIPPED themselves.
I leave the public to ponder aud the
coafts TO determine
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