New-York tribune., 1885-01-12
A GENEROUS CREDITOR.
-, v,vnrRBILTs GIFT TO MRS. GRANT.

Cant as a separate estate tno oiiiy WI" 81
that on his death, or sooner sue 80
che Generals trophies OF war ana peao0 la n
.nr;sa, .ns interest should 60 to the Nauonai
"ararnment. This generous offer was de-
'.'sa so far as everything except the
-I;,s wera concerned. These, General Grant
"a .houd 90 to Washington as soon as 'hey
.',a ha transmitted. Yesterday Mr.. vanderbilt
80 second letter in which ne modi-
God his offer so as 10 create a trust 1uhd OUT
nf the proceeds of the real estate, the income
Sor the fund to go to Mrs.
cro,t duriug her lifetime and the
nrincipa TO be at her disposal by WILL Ihis oner
Vas at FIRST accepted but late last night was de-
ol;red in a letter written by Mrs. Grant Inc COT
respondence is given herewith in full
GAO FIrTH.AvE Jan. 10, 1885.
Mrs. ULYSSES S. GRANT.
DEAR MADAM: So many Misrepresentation
have appeared in regard to the loan made by me 10
General Grant and rejecting unjustly upon MIN
and myself, that it seems proper TO priehy rec''o
the facts. ,o
On Sunday. the 4th of May last. General Grant
called at nv residence and asked me to lend MN
100000 for one day. gave him my check with
ont orast;on not because the transaction was bust
ness-like. but simply because the request came
from General Grant The misfortunes which over
whelmed him in the next twenty four hours arouseu
the sympathy and regret of the whole country.
You and he sent me within few days Vi
the time, the deeds of your joint properties
to cover this obligation and urged my acceptance,
m the ground that this the only debt OF honor
which the General had personally incurred and
these deeds returned.
During my absence III Europe the General dehv
cred TO my attorney mortgages upon all bis own
xl..1A md
medals aud works of art which were the memorials
of his victories and the presents from governments
all over the world. These securities were, in his
Judgment. worth the $15O,000. At his solicitation
the necessary steps were taken by Judgment. ETC.,
10 reduce these properties to possession and the ar
tieles mentioned have been this day bougat III by
me- and the amounts bid applied III the reduction
of the debt. Now that am at liberty TO treat theSe
things as my own, the disposition OF he VINO
matter most in accord with my feelings Is this
| present to you as your separate estate
the debt and judgment l hold against Generai
Grant also the mortgages upon his real estate
and all the household 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 historical value and interest shall at
the Generals DEATH or If YOU desire II sooner, De
presented to the Government at Washlngtons
his fame and of the history OF his time. 81,
| inclOse herewith assignments to YOU OF the
mortgages and judgments bl OF sale OF .o tue
personal property, aud deed of trust IN which the
articles of historical interest are enumerated. a
copy of this trust deed will. with your approval oe
forwarded the President of the United states Ior
deposit In the proper department.
Trusting that this action will meet with your ac-
ceptance and approval, and with kindest regards
TO your husband, am, yours respectfully.
W. H. Vanderbilt
NEwYoRK CITY, Jan. 10, 1885.
DEAR SIR: Mrs. Grant wishes me to an
swer your letter of this evening to say
that while she appreciates your great
generosity in transferring to her the
mortgage gwen to secure my debt OF SloO,OOO, she
cannot accept it in 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 contemplated making Of the articles.
They Will be delivered to the Government as soon
as arrangements can be made for their reception.
Papers relating to all other property will be re-
turned, with the request that you have 1t sold and
the proceeds applied to the liquidation of the debt
which l so Justly you. You have stated III
youI letter with the minutest accuracy the history
of the transaction which brought me in your debt.
j have only to add that regard your giving me
your check for the amount without inquiry as an
act of marked aud unusual friendship. The loan
was to me personally. / got the money! as be-
heved. 10 carry the Marine National Bank over
day. being assured that the bank solvent. but
owing to unusual calls needed assistance until
it could call in its loans. l was
assured by Ferdinand Ward that the
firm Of Grant & Ward had over 100000 to their
credit, at that time, in the Marine Bank, besides
$1,30OO0O Of unpledged securities in their own
vaults.
| cannot conclude without assuring you that Mrs
Grants inability to avail herself of your great
kindness in way lessenseither her sense Of obli-
CATION or my Yours truly.
W. II. VANDERBILT, esq. u. S. GRANT.
$40 FIFTH-AvE., Jan. IL, 1885.
General U. 8. GRANT
My DEAR SIR: On my return home last
night 1 found your letter in answer to
mine to Mrs. Grant. / appreciate fully the
sentiments which actuate both Mrs Grant and
yourself in declining the part of my proposition re-
lating to the real estate greatly regret that she
feels 1T her duty to make this decision, as |
earnestly hoped that the spirit in which the offer
made would overcome any scruples in
accepting it, Bat must insist that shall not be
defeated in a purpose TO which l have gwen 10
much thought. and which have much at heart
! will therefore, as fast as the money is received
from the sales of the real estate, deposit il in the
Union Trust Company.
With the money thus realized l will at once
create with that company trust, with proper pro-
visions for the income to be paid to Mrs. Grant
daring her life. aud giving the power to her to
make such disposition Of the principal by her will
ss she may elect. Very truly yours.
w. III. VANDERBILT.
W.
NEw-YoRK CITY. Jan. IL, 1855.
DEAR SIR: Your letter of this date is received Mrs.
Grant and regret that you cannot accept our prop
ositon to retain the property which was mortgaged
IN good faith To secure debt Of honor. But your
eist. Yonrs trulv
w. II. VANDERBILT. IT, S. GRANT
".