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Story
August 7, 1868
The Native Virginian
Orange, Gordonsville, Orange County, Virginia
What is this article about?
A St. Paul newspaper alleges that Radical Republicans and gold speculators paid Ulysses S. Grant $300,000 to run for President, compensating for the lifetime salary loss from his $16,000/year generalship office.
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HOW THE RADICALS GOT GRANT.
A St. Paul paper thus tells the story:
Grant paid $300,000 and Bought Up to be a Presidential Candidate.
Grant holds a life office, worth $16,000 a year at least. When the bond-holders and gold sharks first appealed to him to be a candidate for President, he represented the common sense view of the case, that he could not afford it--that it would be folly for him to throw up a life office worth $16,000 a year, for a four years' office worth $25,000 a year.
In order to overcome this scruple, the gold ring entered into an accurate calculation of how much he would sacrifice by taking the office of President. He is now, say 45 years of age, and may live till he is seventy. An office worth $16,000 annually would produce in twenty-five years $400,000. But the Presidency four years would only produce $100,000, or in other words he would lose $300,000 by throwing up his generalship, even if he was elected President. It is a matter of fact and susceptible of proof, that the corrupt ring who made Grant the candidate, then raised that amount of money--$300,000, and gave it to him, in consideration of his consent to become the Radical Presidential candidate.
A St. Paul paper thus tells the story:
Grant paid $300,000 and Bought Up to be a Presidential Candidate.
Grant holds a life office, worth $16,000 a year at least. When the bond-holders and gold sharks first appealed to him to be a candidate for President, he represented the common sense view of the case, that he could not afford it--that it would be folly for him to throw up a life office worth $16,000 a year, for a four years' office worth $25,000 a year.
In order to overcome this scruple, the gold ring entered into an accurate calculation of how much he would sacrifice by taking the office of President. He is now, say 45 years of age, and may live till he is seventy. An office worth $16,000 annually would produce in twenty-five years $400,000. But the Presidency four years would only produce $100,000, or in other words he would lose $300,000 by throwing up his generalship, even if he was elected President. It is a matter of fact and susceptible of proof, that the corrupt ring who made Grant the candidate, then raised that amount of money--$300,000, and gave it to him, in consideration of his consent to become the Radical Presidential candidate.
What sub-type of article is it?
Biography
Historical Event
Deception Fraud
What themes does it cover?
Deception
Crime Punishment
Fortune Reversal
What keywords are associated?
Grant Candidacy
Political Corruption
Presidential Bribe
Radical Republicans
Gold Ring Payment
What entities or persons were involved?
Grant
Radicals
Gold Ring
Bond Holders
Gold Sharks
Story Details
Key Persons
Grant
Radicals
Gold Ring
Bond Holders
Gold Sharks
Story Details
Grant initially refused to run for President due to the financial loss from his lifetime $16,000/year office compared to the $25,000/year for four years. The corrupt Radical gold ring calculated his $300,000 sacrifice over 25 years and paid him that amount to secure his candidacy.