Evening journal., 1912-04-17
NEW NEWS OF YESTERDAY
When Gsnerai Grant
"Sneaksd Away" for the
White house
By Holland.

General Grant was a man Of great
physical and moral courage. and yet
! remember one occasion when he ac-
tually ran away secretly from a most
embarrassing, and in fact. most dan
gerous situation said the late Fred
erick r. Tappen-who for many years
was chairman Of the New York Clear
ing House Association and one Of
the most prominent bankers in the
! United States-tO me only few
months before his death. in 1902.
General Grant was still at his sum-
mer cottage at Long Branch. n. j.,
when the panic Of September. 1873,
burst upon the country. He was go
ing back to Washington for the fall
and winter season about the first Of
October, so he told me.
The situation on the nineteenth Of
September in New York city was des-
perate. Tho danger was grave that
there would be a run upon the savings
banks. The national bankers were in
! great distress They were anxious
that General Grant should authorize
the Secretary Of the Treasury. Judge
!
least twenty millions of government
money to the banks OF New York city
upon the security of clearing house
certificates and other collateral. This
however could not be done as such
action at that time was prohibited by
law.
"Thcn a committee, informally ap-
pointed. asked the President to come
to New York and meet the bankers
at the Fifth avenue Hotel on Sun
day. | think it was the twentieth Of
September. Grant replied that he
would meet the bankers. and further
said that he had requested the Secre-
tary of the Treasury to come over
from Washington and participate in
the conference.
"At the conference. which began In
the morning, / should say there were
some forty bankers and business men.
Some Of them very strongly urged the
/ President to reissue some forty mill
/ lions Of greenbacks which had been
retired and cancelled The President
was told that the danger was very
grave and that riot would take place
the next day unless the Federal gov
ernment took instant measures to re-
press the panic.
Just as the conference was break
ing up one of the bankers asked the
President if he would not 90 to the
sub-treasury in Wall street the next
morning at 10 o'clock and remain
there all day so that he could be at
hand to act upon any important
emergency that might arise. Grant re-
piled that he would go TO the sub
treasury, and would take Richardson
with him As quickly as possible
7 made a motion to attract Secretary
/ Richardson's eye. When he observed
me ! shook my head and he nodded
his own approvingly J then knew
thu Richardson would prevent Grant.
IL possible from going to the sub
treasury the next day.
"That evening when ! met Richard
son al the Union League Club. where
the President was being dined by
some of those who had met him he
told me that after all the others had
left the conference room he shut the
door and locked it and then told Gen
eral Grant that there was only one
safe place for the President of tho
United States to be in time of emer.
gency and that was at the capital
The minute Richardson made the sug.
gestion the President realized the
force of it.
Richardson further told me that
the President had asked him 10 sec
TO il that there were carriageseat the
door of the Union League Club. which
at that time was opposite Madison
Square Garden. whose drivers were
instructed TO take him i'm one carriage
and Richardson in another to the
Pennsylvania Railroad ferry house in
time for the midnight train for Wash.
ington. And added Richardson the
President and | are going to sneal
away. one after the other about II
o'clock.
81 watched very closely when tho
hands of the clock pointed toward II
saw Richardson get up and go ou
as though he was leaving the room
temporarily. A few moments latel
General Grant arose. stopped to cha
for minute with some one. and, in
sort Of half-sauntering way. wen
out Neither came back. Il wat
thought that the President had gonl
to his hotel for his nights rest.
AT eight o'clock the next morniul
telegraph dispatches came from
Washington. stating that the Presi
dent had returned by midnight trail
from New York and was at the Whit
House. l don't suppose there was
single banker. excepting myself VIII
knew how it happened that Grant i'm
stead of spending the night in NeV
York and visiting the sub-treasur
the next day. had taken the miduigh
train TO Washington. Both Richard
son and I felt that If President Gran
appeared at the sub-treasury the mex
morning, the very fact that he wa
there would intensity alarm aud lea
TO panic. AS il was the Clearin
House Association took hold Of tn
situation and Wall street that da
was as quiet as it is upon a holiday.