Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1885-01-15
Grant and Vanderbilt.

aroused the sympathy and regret of the
whole country. You and he sent me
within few days of time, the deeds of
your joint properties to cover this OBJ
legation, aud urged my acceptance on
the ground that this was the only debt
of honor which the General had per-
sonally incurred. and these deeds / re-
turned. During my absence. iu Europe
the General delivered to my attorney
mortgages upon all his own real estate,
household effects and the swords, medals
and works of art which were the me-
MORALS of bis victories and the presents
from governments all over the world.
These securities were in his Judgment
worth the Sl50,000.
At his solicitation the necessary steps
were taken by judgment, ETC.. 10 re-
duce these properties to possession,
this day bought in by me and the
amount bid applied in reduction of the
debt. Now that / am at liberty to
treat these things AS my own, the dis
position of the whole matter most in ac-
cord with my feelings is this: | present
to you rs your separate estate the debt
and judgment hold against General
Grant, also the mortgages upon his
real estate and all the household goods,
furniture and ornaments, coupled only
with the condition that the swords,
commissions. medals, gifts from the
United States, states, cities and foreign
governments, and all articles of his
torical value and interest, 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.
inclose herewith assignments to you
of the mortgages and judgments. bill
OF sale of the personal property, and a
deed OF trust, in which the articles of
historical interest are enumerated. A
copy of this trust deed will, with your
approval, be forwarded to the Presi-
dent of the United States for deposit in
the proper department.
Trusting that this action will meet
with your acceptance and approval,
and with kindest regards to your hus-
band, am yours respectfully,
w. III. VANDERBILT
Mr.. Vanderbilt received the follow
ing:
NEW YORK CITY, Jan. 10, 1856
DEAR SIR: Mrs. Grant wishes me to
answer your letter of this evening to
say that while she appreciates your
great generosity in transferring to her
the mortgage given to secure my debt
of Sl50.000 she cannot accept it in
whole. She accepts with pleasure the
trust which applies to articles enumer-
atod in your letter to go TO the govern
ment of the United States at my death
or sooner, at her option. In this mat
ter you have anticipated the disposition
which | had contemplated making of
the articles. They will be delivered to
the government as soon as arrange
ments can be made for their reception
The papers relating to all the other
property will be returned, with the re-
quest that you have it sold and the pro-
ceeds applied to the liquidation of the
debt which l so justly owe you. You
have stated in your letter with the
minutest accuracy the history of tho
transaction which brought me in your
debt. have only to add that re gard
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, be-
ing assured that the bank was solvent,
but, owing to the unusual calls, needed
assistance until it could call in its loan.
| was assured by Ferdinand Ward that
the firm of Grant 81 Ward had over
$500, 900 to its credit at that time in the
Marine Bank, besides 81, 300,0 of un-
pledged securities in the tlrm's own
vaults.
cannot conclude without assuring
you that Mrs Grants inability to avail
herself of your great kindness in nc
way lessons either her sense of obliga-
ton or my own. Yours truly,
U. 5. GRANT.
To w. III. Vanderbilt. Esq.
When Mr.. Vanderbilt found that his
offer was defeated by the refusal of Mr..
Grant to accept he determined to take
the matter into his own hands and
apply the estates to the creation of a
trust fund that would accrue to her
benefit He announced this intention
in letter as follows:
GAO FIFTH AVENUE, Jan. II, 1885,
GENERAL u. S. GRANT. DEAR SIR
On my return home last night | found
Grant. ] appreciate fully the senti
ments which actuate both Mrs. Grant
and yourself in declining the part of my
proposition relating to the real estate
| greatly regret that she feels it hel
duty to make this decision, as / earn
estly hoped the spirit in which the offei
was made would overcome any scruples
she might have in accepting it. Bnt
| | must insist that shall not be defeated
in the purpose to which l have given SC
much thought and which / have 81
much at heart. | will, therefore, a.
fast as tho money is received from tn,
sales of real estate, deposit it in tht
Union Trust Company. With The
money thus realized | will at once
create with that company q trust with
the proper provisions for the income t.
be made TO Mrs. Grant during her life
and giving the power to her to make
such disposition Of the principal by he
will as she may elect.
Very truly yours,
WILLIAM II. VANDERBILT.
General u. 5. Grant.
General Grant at first accepted thi'
| last letter, but Mrs. Grant, on turtle
deliberation. decided to refuse all gifts
treating the debt as one of honor
which the General should pay withou
attracting compassion or deserving it
NEW YORK CRY, Jan. IL. 1885. :
DEAR SIR: Your letter of this date re
ceived. Mrs. Grant and | regret tina
! you cannot accept our proposition t,
retain the property which was mort
gagged in good faith to secure debt 0
honor But your generous determine
ton compels us to no longer desist.
Yours truly,
U. S. GRANT.
w. H. Vanderbilt.
NEW YORK, SUNDAY, Jan. Ii. 1885,
My DEAR Mr.. VANDERBILT: Upol
reading your letter this afternoon Gen
eral Grant aud myself felt it would b
ungracions to refuse your princely an
generous offer. Hence his note to you
But upon reflection | find / cannot,
will not. accept your muniticence il
any form. | beg you will pardon thi
apparent vacillation and consider thi
answer definite and final With grea
regard, and sense of obligation tina
will always remain, | am YOURS yer