The Kimball graphic. (Kimball, Brule County, Dakota [S.D.]) 1883-1905, 1885-02-20
A PRINcRLY osFER
VIII. Vanderbilt Nakes . Magnificent Pro
posal tn Regard to the Loan Of
$4,000 to General Grant
After Due Consideration

Anew 4Ohkt Jan. l1.-llc
letter was sent Mrs. u. S. Grant by W.
III. V%anderbilt:
To Mrs. Ulysses S. Grant:
NEW YORK, Jan. 1O.-DEAR MADAM:
So many Misrepresentation have APP
peared in regard to the loan made by
me to General Grant and rejecting up
on him and myself that it seems prop
er to briefly state the facts:
On Sunday, the 4th of May, last,
General Grant called ut my house and
asked me to loan him $3.50, 900 for one
day. l gave him my check without
question, not because the action was
business-like but simply because the re-
request came from General Grant.
The misfortune which overwhelmed
him the next twenty-four hours arous-
ed 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 urged my accept
ance on the ground hat this was only
debt of honor which the general had
personally incurred, and those deeds
I returned.
During my absence in Europe the
general delivered to my attorney mort
cages upon all his real estate, house
hold effects and sword, madals and
works of art, which were memorials of
his victories and presents from gov
ernments all W the world.
These securities were in his iudg-
ment worth the $150,0O0. At his So
licitation the necessary steps were Ia
ken by Judgment, ETC., to reduce these
properties to possession, and the arti-
cles mentioned have been this day
bought in by me and the amount bid
applied IN reduction of the debt. Now
that l am at liberty to treat these
things as my owu, the disposition of
the whole matter most in accord with
my feelings is this; l present to you, as
your separate estate, the debt and
iudgmentIhold against Gen Grant, also
the mortgages upon his real estate and
all his household furniture and orna-
ments, coupled only with this condi-
ton. 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 1t, sooner, be present.
ed to the government at Washington,
where they will remain as a perpetual
memorial of his fame and of the histo-
ry of his time.
linclose herewith the assignments
to you of mortgages and judgments,
bill of sale of personal property and
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 these actions will meet
with your acceptance and approval,
and with kind regards to your hus-
band, l am yours respectfully,
[Signed] w. H. VANDERBILT.
w. H. Vanderbilt:
New YORK. CITY, Jan. 10, 1885,
DEAR SIR: Mrs. Grant wishes me, in
answer to your letter of this evening,
to say that while she appreciates your
great generosity in transferring to her
the mortgage given to eur my debt
of Sl50,00O, she cannot accept in
whole, but she accepts with pleasure
the trust which applies to the articles
enumerated in your letter, to 60 to
the government of the United States
at my death, or sooner, at her option.
In this matter you have anticipated
the disposition which l had contem-
plated making of the articles. They
will be delivered to the government as
soon as arrangements can be made for
their reception. The papers relatin g
to all other property will be returned
with the request that you have it sold
and the proceeds applied to the
liquidation of the debt which l so lust.
ly owe you.
You have stated in your letter with
the minutest accuracy the history OF
the transaction which brought me in
your debt. / have only to add / re.
gard your giving me your check for
the amount without inquiry as an
act of marked and unusual friend.
ship. The loan was to me personally.
l got the money as | believed. to carry
the Marine national bank over a day,
being then assured the bank was SOL
vent, but owing to unusual calls need
ed assistance until it could call in it's
loans. l was assured by Ferdinand
Ward that the firm of Grant & Ward
had over 5000, 600 to their credit at
that time in the Marine bank, besides
S1,500,O 900 of unpledged securities in
their w vaults.
/ cannot conclude without assuring
you that Mrs. Grants inability tc
avail herself of your great kindness in
no way lessons either her sense of the
obligation or my OWL Yours Truly,
U. S. GRANT.
To General u. S. Grant:
GAO FIFTH AVENUE, Jan 11.-Sir: On
my return home last night / found
your letter in answer to mine to Mrs
Grant. l appreciate fully the senti.
ments which actuate both Mrs. Grant
and yourself in declining part of my
proposition relating to real estate. ]
greatly regret she feels it her duty td
make this decision, as l earnestly
hoped the spirit in which the offer was
made would overcome any scruples in
accepting it. But l must insist. !
shall not be defeated in the purpose tc
which / have given so much thought
and which have so much at heart.
will therefore, as fast as the money is
received from the sales of real estate,
deposit it in the Union Trust company.
With the money thus realized l will al
once create with that company a trus'
with provisions for the income to bt
paid Mrs. Grant during her life ant
giving power to her to make such dis
position of the principal by her will a.
she may elect. Very truly,
WILLIAM II. VANDERBILT.
10 William II. Vanderbilt:
New YORK CITY, Jan. Idea,
Sir. Your letter of this date received
Mrs. Grant and l regret you canno
accept our proposition to retain thu
property which was mortgaged ii
| good faith to secure a debt of honor
But your generous determination com
pells u to no longer resist.
Yours, u. S. GRANT. .