St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-01-12
GENEROUS VANDERBILT.
To Cancel the 100000 Debt He Pro-
poses to GIVE the Mortgages on
Real Estate to Mrs. Grant
On Condition That She Will or Present Di.
rectly the Generals Mementoes to
the Government.
The Latter Proposition Accepted and the
Former Declined-Some Facilitating
Correspondence.

$40 FIFTH AVENUE, Jan. 10, 19S5.-Mrs.
Ulysses S. Grant: Dear Madam: So many
Misrepresentation have appeared in regard
to the loan made by me to Gen. Grant. and
rejecting unjustly upon him and myself,
that it seems proper briefly to recite the facts.
On the 4th of May last Gen. Grant called at
my house and asked me to lend him
S150,000 for one day. 1 gave him my
check without question, not because
the transaction was business-lille, but simply
because the request came from Gen. Grant.
The misf0rtunes which overwhelmed him
in the next twenty-four hours aroused the
sympathy and regret of the whole country.
You and he sent me within few days of the
time deeds of your joint properties to cover
this obligation, and urged my acceptance on
the ground that this was the only debt of
honor which the general had personally in
Cured and these deeds were returned.
During my absence in 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
ents from governments all over the world.
These securities were, in his judgment,
worth the $500 At his solicitation, nee
essarv steps were taken, by judgment, etc,
to reduce these properties to possession, and
the articles mentioned have been this day
bought in by me and the amounts bid ap-
piled in the reduction of the debt. Now that
am at liberty to treat these things as my
own, the disposition of the whole matter
most in accord with my feelings is this.
To IN Statn fhn
debt and judgment l held against Gen.
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 it, sooner,
be presented to the govern ment at Washing
ton, where they will remain as perpetual me-
MORALS of his fame and of the history of his
time. | enclose herewith assignments to
you of the mortgages and judgments, bill of
sale of personal property, and the deed of
trust in which articles of historical interest
are enumerated.
A copy of this trust deed will, with your
approval be forwarded to the president of
the United States for deposit in the proper
department. Trusting this action will meet
with your acceptance and approval and with
the kindest regards to your husband.
am, yours respectfully,
[Signed] w. II. VANDERBILT.
PARTIALLY REFUSED.
Gen. Grant answered for Mrs. Grant as
follows:
New YORK, Jan. 10.-Dear Sir: Mrs.
;ch.. lntt
of this evening, to say that, while she appre-
ciates your great generosity in transferring
to her the mortgage given to secure my debt
Of $3.50, 900, she cannot accept it as whole.
She accepts with pleasure the trust which APP
plies to articles enumerated in your letter to
20 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 gov
ernment as soon rs arrangements can be
made for their reception. Papers relating to
all other property will be returned, with the
request that you have it sold and the pro-
ceeds applied to the liquidation of the debt
which / so Justly owe you. You have stated
in your letter, with the minutest accuracy,
the history of the transaction which brought
me in your debt. | regard 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, being assured the
bank was solvent, but, owing to unusual
calls needed assistance until it could call in
its loans. was assured by Ferdinand
Ward that the firm of Grant " Ward had
over $500, 600 to their credit at that time In
the Marine bank, besides 81, 300, coo of I'M
pledged 5 curties in their own vaults.
conclude without assuring you that Mrs.
Grants inability to avail herself of your great
kindless in no way lessons her sense of Oh
legation or my own. Yours truly,
Q. s. GRANT.
w. H. Vanderbilt, Esq, GAO Fifth avenue,
Jan. II, 1885.
vANDERBILT's REPLY.
GEN. U. S. GRANT-My Dear Sir: On my
return home last night found your letter in
an swer to mine TO Mrs Grant. / appreciate
fully the sentiments which actuate both Mrs
Grant and yourself Ia declining part of my
proposition relating to real estate. greatly
regret that she feels it her duty
10 make this decision, as / earnestly
hoped the spirit in which the offer was made
would overcome any scruples in accepting It,
but must insist shall not be defeated in
the purpose to which have given so much
thought and which have so much at heart.
] will, therefore, as fast money is received
from the sales Of real estate, deposit in the
Union Trust company. With the money
thus realized. ] will at once create with that
company trust with proper provisions for
an income to be paid 10 Mrs. Grant during
her life. and giving power TO her to make
such disposition of the principal by her will
as she may elect. Very truly yours,
WILLIAM u. VANDERBILT.
THE GENERAL ACCEPTS.
New YORK CITY, Jan. IL, 1S85.-Dcar
Sir: Your letter Of this date is received
Mrs. Grant and regret you cannot accept
our proposition 10 retain the property, which
was mortgaged In good faith to secure a debt
Of honor, but your generous determination
compcls US to no longer resist. Yours,
truly, U. S. GRANT.
". II. Vanderbilt.
AND MRS. GEAyT DECLINES.
NEW YORK, Sunday, Jan. IL, 1ss5.-My
Dear Mr.. Vanderbilt: Upon reading your
letter this afternoon, Gen. Grant aud myself
felt we would be ungrscous to refuse your
prucely and generous offer. Hence this
this note 10 you, but, upon reflection, will
not accept your magnificent offer In any
form. beg you will pardon this apparent
vsciIlation, and consider this answer definite
and final. With great regards and sense Of
obligation that viii always remain, 1 am
yours very gratefully,
JULIA ID. GRANT.
To Mr.. VIM. II. Vanderbilt
Secure your seats early for Janish.
She Fooled Him.
Especial Telegram 70 the Globe.
C,~c,~~rr n Iap II Tho sao,.1 g.