The Rock Island Argus. (Rock Island, Ill.) 1877-1885, 1885-01-13
MRS. GRANTS GRIT.
a GENEROUS OFFER BY VIM. II. VAN.
DERBlLT DECLINED.
The Railway King Sends the Old SOLDIER
Wife tile Gif; of That $50, 900 Debt
The War Memorials Story
Of the Loan.

New YoGS. Jaa lS-Corres pondence lie.
,veen tea. and Mrs Grant and William H
Vanderbilt IS PUBLISHED here, in which Mr.
F.n ioroIit makes a very generous offer t,
Mrs Grant AMI lells the true story Of the
loan u $3.50, 100 made to Gen. Grant on the
eve Of to- failure + Grant Ward & c.
On saturday, Jan TO- Mr.. Vanderbilt
wrote 10 Mrs Grant letter, iu
which, after referring 10 the misreprasent-
Gtj3n> which have gone the rounds Of the
pres with regard to the loan male by him
to Gen Grant, lie gives the history OF that
loan r. follows:
On Sunday, the 4tA OF Nay last, Gen.
Grant callsd at ,ny house and asked
ulo 10 lead him Sl55.O0l for one day.
| gave MIN my check without 4ues-
ton, not because the transaction was
husinasS-ilSe, but simply because the request
came from Gen. Grant The miSforiunes
which overwhelmed him in the next twenty
four hours aroused the sympathy and regret
Of the whole country. You and he sent me,
within a few days Of the time, deeds OF your
joint properties to cover this obligation, and
urgei my acceptance, on the ground that
this was the only debt of honor which the
general lad personally incurred, ami these
deeds returned During my absence
IN Europe the general delivered to
my attorney mortgages upon all his own real
estate, household effect, and swords, medals
and works of art which were memorials Of
his victories and presents from governments
all over the world. These securities were,
10 his Judgment, worth the $50, 900 At
his solicitation, he necessary steps were
taken by Judgment. etc, to reduce these
properties to possession, and the articles
mentioned have been this day bought in Gv
me, and the amounts bid applied in the
reduction of the debt
Mr. Vanderbilt then SAYS he sends with
the letter full title to the estate Of Gen. an ,
Mrs Grant referred to above, TO be held by
Mr. Grant as her separate estate, and he dis
posed Of at her death as she sees fit, on condi-
tioa that Mrs Grant hold the war memen-
toes as a tr.lst, 10 be by her orders, before
or after her death as she prefers,
deposited with the government at Washing
ton, there to remain perpetual memorial
u Ge! Grants fame and the history Of his
time
Gen. Grant answers this letter expressing
lis and his wifes gratitude for the generous
offer but declaring their inability to accept it,
except SO far as the trust is concerned. Gen
Grant takes occasion TO say that the DISPOSE
ton Of the memorials proposed by Mr.. Van
derbllt was just what he had himself de-
ciaei upon, and bears witness to the correct
ness Of Mr. Vanderbilt's account of the man
ner in which the indebtedness came about,
at the same time stating that he had no
doubt when he borrowed the money that
the Marine bank was solvent and
that Grant, Ward & Co had over 500, O0J to
their credit in the bank, and over &, 800, 900
in unpledged securities in their own vaults.
Gen. Grant says Mr.. Vanderbilt's prompt
acquiescence in his request for such large
loan, was regarded by him as a mark Of ex-
traordinary friendship.
Ar. Vanderbilt on Jan. II again wrote to
Gen. Grant expressing his appreciation Of
the sentiment that dictated to Gen and Mrs
Grant their declination OF his offer, hat
| stating that he must insist upon not being
| defeated in the purpose he had in view,
stating that as fast as the estate should be
sold he would deposit the proceeds
in the UHion Trust company, to bt
used as trust fund for Ms. Grant during
| her life and at her death disposed of as sht
might desire
| To this Gen. Grant made answer that his
| wife and himself felt unable longer TO resist
Mr.. Vanderbilts generous determination
hut it seems that afterward they thought i
over again and the result was the following
last letter of the series, from Mrs Gran
| herself.
aNEw YORK, Sunday, Jan. 11.-MY DEAL
| Mr. Vanderbilt; Upon reading your let
ter this afternoon Gen Grant and mysel
felt IL would be unyracious TO refuse you
| prnce!y and generous offer. Hence his not
TO you. But upon reflection find can not
viii not accept yosr munificence in AM
form. l beg you will pardon this apparen
vacillation, and consider this answer definit,
and final
With great regard and sense of obligation
that will always remain, l am, yours very
gratefully. JULIA D. GRANT.
To Mr. W H. Vanderbilt