Таkе Ñоur Ðаtеst Ñhоne bÑÐРоr ÑаbÐе bÑÐРаnd ÐÑght Ñt оn fÑrе... [logo]( Editorâs note
Sometimes, colleagues of The Classy Investors share special offers with us that we think our readers should be made aware of. Below is one such special opportunity that we believe deserves your attention. [Image]( Таkе Ñоur Ðаtеst Ñhоnе bÑÐРоr ÑаbÐе bÑÐРаnd ÐÑght Ñt оn fÑrе... Тhеn Ñоunt thе sеÑоnds Ñt tаkеs fоr thе еntÑrе thÑng tо burn rÑght uÑ. In 1865, as commanding general, Ulysses S. Grant led the Union Armies to victory over the Confederacy in the American Civil War. As an American hero, Grant was later elected the 18th President of the United States (1869â1877), working to implement Congressional Reconstruction and to remove the vestiges of slavery. Late in the administration of Andrew Johnson, Gen. Ulysses S. Grant quarreled with the President and aligned himself with the Radical Republicans. He was, as the symbol of Union victory during the Civil War, their logical candidate for President in 1868. When he was elected, the American people hoped for an end to turmoil. Grant provided neither vigor nor reform. Looking to Congress for direction, he seemed bewildered. One visitor to the White House noted âa puzzled pathos, as of a man with a problem before him of which he does not understand the terms.â Born in 1822, Grant was the son of an Ohio tanner. He went to West Point rather against his will and graduated in the middle of his class. In the Mexican War he fought under Gen. Zachary Taylor. At the outbreak of the Civil War, Grant was working in his fatherâs leather store in Galena, Illinois. He was appointed by the Governor to command an unruly volunteer regiment. Grant whipped it into shape and by September 1861 he had risen to the rank of brigadier general of volunteers. He sought to win control of the Mississippi Valley. In February 1862 he took Fort Henry and attacked Fort Donelson. When the Confederate commander asked for terms, Grant replied, âNo terms except an unconditional and immediate surrender can be accepted.â The Confederates surrendered, and President Lincoln promoted Grant to major general of volunteers. At Shiloh in April, Grant fought one of the bloodiest battles in the West and came out less well. President Lincoln fended off demands for his removal by saying, âI canât spare this manâhe fights.â For his next major objective, Grant maneuvered and fought skillfully to win Vicksburg, the key city on the Mississippi, and thus cut the Confederacy in two. Then he broke the Confederate hold on Chattanooga. Lincoln appointed him General-in-Chief in March 1864. Grant directed Sherman to drive through the South while he himself, with the Army of the Potomac, pinned down Gen. Robert E. Leeâs Army of Northern Virginia. Finally, on April 9, 1865, at Appomattox Court House, Lee surrendered. Grant wrote out magnanimous terms of surrender that would prevent treason trials. As President, Grant presided over the Government much as he had run the Army. Indeed he brought part of his Army staff to the White House. Although a man of scrupulous honesty, Grant as President accepted handsome presents from admirers. Worse, he allowed himself to be seen with two speculators, Jay Gould and James Fisk. When Grant realized their scheme to corner the market in gold, he authorized the Secretary of the Treasury to sell enough gold to wreck their plans, but the speculation had already wrought havoc with business. During his campaign for re-election in 1872, Grant was attacked by Liberal Republican reformers. He called them ânarrow-headed men,â their eyes so close together that âthey can look out of the same gimlet hole without winking.â The Generalâs friends in the Republican Party came to be known proudly as âthe Old Guard.â Grant allowed Radical Reconstruction to run its course in the South, bolstering it at times with military force. After retiring from the Presidency, Grant became a partner in a financial firm, which went bankrupt. About that time he learned that he had cancer of the throat. He started writing his recollections to pay off his debts and provide for his family, racing against death to produce a memoir that ultimately earned nearly $450,000. Soon after completing the last page, in 1885, he died. ÐеÑаusе thаnks tо thÑs, Ñоu ÑоuÐd ÑоtеntÑаÐÐÑ ÐµÐ°rn hugе ÑrоfÑts... Ðut Ñоu'ÐРоnÐÑ hаvе thÑs оÑÑоrtunÑtÑ Ñf Ñоu аÑt bеfоrе ÐÑrÑÐ 1st, 2023. With the assassination of President Abraham Lincoln, Andrew Johnson became the 17th President of the United States (1865-1869), an old-fashioned southern Jacksonian Democrat of pronounced statesâ rights views. With the Assassination of Lincoln, the Presidency fell upon an old-fashioned southern Jacksonian Democrat of pronounced statesâ rights views. Although an honest and honorable man, Andrew Johnson was one of the most unfortunate of Presidents. Arrayed against him were the Radical Republicans in Congress, brilliantly led and ruthless in their tactics. Johnson was no match for them. Born in Raleigh, North Carolina, in 1808, Johnson grew up in poverty. He was apprenticed to a tailor as a boy, but ran away. He opened a tailor shop in Greeneville, Tennessee, married Eliza McCardle, and participated in debates at the local academy. Entering politics, he became an adept stump speaker, championing the common man and vilifying the plantation aristocracy. As a Member of the House of Representatives and the Senate in the 1840âs and â50âs, he advocated a homestead bill to provide a free farm for the poor man. During the secession crisis, Johnson remained in the Senate even when Tennessee seceded, which made him a hero in the North and a traitor in the eyes of most Southerners. In 1862 President Lincoln appointed him Military Governor of Tennessee, and Johnson used the state as a laboratory for reconstruction. In 1864 the Republicans, contending that their National Union Party was for all loyal men, nominated Johnson, a Southerner and a Democrat, for Vice President. After Lincolnâs death, President Johnson proceeded to reconstruct the former Confederate States while Congress was not in session in 1865. He pardoned all who would take an oath of allegiance, but required leaders and men of wealth to obtain special Presidential pardons. By the time Congress met in December 1865, most southern states were reconstructed, slavery was being abolished, but âblack codesâ to regulate the freedmen were beginning to appear. Radical Republicans in Congress moved vigorously to change Johnsonâs program. They gained the support of northerners who were dismayed to see Southerners keeping many prewar leaders and imposing many prewar restrictions upon Negroes. The Radicalsâ first step was to refuse to seat any Senator or Representative from the old Confederacy. Next they passed measures dealing with the former slaves. Johnson vetoed the legislation. The Radicals mustered enough votes in Congress to pass legislation over his vetoâthe first time that Congress had overridden a President on an important bill. They passed the Civil Rights Act of 1866, which established Negroes as American citizens and forbade discrimination against them. A few months later Congress submitted to the states the Fourteenth Amendment, which specified that no state should âdeprive any person of life, liberty, or property, without due process of law.â All the former Confederate States except Tennessee refused to ratify the amendment; further, there were two bloody race riots in the South. Speaking in the Middle West, Johnson faced hostile audiences. The Radical Republicans won an overwhelming victory in Congressional elections that fall. In March 1867, the Radicals effected their own plan of Reconstruction, again placing southern states under military rule. They passed laws placing restrictions upon the President. When Johnson allegedly violated one of these, the Tenure of Office Act, by dismissing Secretary of War Edwin M. Stanton, the House voted eleven articles of impeachment against him. He was tried by the Senate in the spring of 1868 and acquitted by one vote. In 1875, Tennessee returned Johnson to the Senate. He died a few months later. As the 19th President of the United States (1877-1881), Rutherford B. Hayes oversaw the end of Reconstruction, began the efforts that led to civil service reform, and attempted to reconcile the divisions left over from the Civil War. Beneficiary of the most fiercely disputed election in American history, Rutherford B. Hayes brought to the Executive Mansion dignity, honesty, and moderate reform. To the delight of the Womanâs Christian Temperance Union, Lucy Webb Hayes carried out her husbandâs orders to banish wines and liquors from the White House. Born in Ohio in 1822, Hayes was educated at Kenyon College and Harvard Law School. After five years of law practice in Lower Sandusky, he moved to Cincinnati, where he flourished as a young Whig lawyer. He fought in the Civil War, was wounded in action, and rose to the rank of brevet major general. While he was still in the Army, Cincinnati Republicans ran him for the House of Representatives. He accepted the nomination, but would not campaign, explaining, âan officer fit for duty who at this crisis would abandon his post to electioneer⦠ought to be scalped.â Elected by a heavy majority, Hayes entered Congress in December 1865, troubled by the âRebel influences ⦠ruling the White House.â Between 1867 and 1876 he served three terms as Governor of Ohio. Safe liberalism, party loyalty, and a good war record made Hayes an acceptable Republican candidate in 1876. He opposed Governor Samuel J. Tilden of New York. Although a galaxy of famous Republican speakers, and even Mark Twain, stumped for Hayes, he expected the Democrats to win. When the first returns seemed to confirm this, Hayes went to bed, believing he had lost. But in New York, Republican National Chairman Zachariah Chandler, aware of a loophole, wired leaders to stand firm: âHayes has 185 votes and is elected.â The popular vote apparently was 4,300,000 for Tilden to 4,036,000 for Hayes. Hayesâs election depended upon contested electoral votes in Louisiana, South Carolina, and Florida. If all the disputed electoral votes went to Hayes, he would win; a single one would elect Tilden. Months of uncertainty followed. In January 1877 Congress established an Electoral Commission to decide the dispute. The commission, made up of eight Republicans and seven Democrats, determined all the contests in favor of Hayes by eight to seven. The final electoral vote: 185 to 184. Northern Republicans had been promising southern Democrats at least one Cabinet post, Federal patronage, subsidies for internal improvements, and withdrawal of troops from Louisiana and South Carolina. Hayes insisted that his appointments must be made on merit, not political considerations. For his Cabinet he chose men of high caliber, but outraged many Republicans because one member was an ex-Confederate and another had bolted the party as a Liberal Republican in 1872. Hayes pledged protection of the rights of Negroes in the South, but at the same time advocated the restoration of âwise, honest, and peaceful local self-government.â This meant the withdrawal of troops. Hayes hoped such conciliatory policies would lead to the building of a ânew Republican partyâ in the South, to which white businessmen and conservatives would rally. Many of the leaders of the new South did indeed favor Republican economic policies and approved of Hayesâs financial conservatism, but they faced annihilation at the polls if they were to join the party of Reconstruction. Hayes and his Republican successors were persistent in their efforts but could not win over the âsolid South.â Hayes had announced in advance that he would serve only one term, and retired to Spiegel Grove, his home in Fremont, Ohio, in 1881. He died in 1893. James Garfield was elected as the United Statesâ 20th President in 1881, after nine terms in the U.S. House of Representatives. His Presidency was impactful, but cut short after 200 days when he was assassinated. As the last of the log cabin Presidents, James A. Garfield attacked political corruption and won back for the Presidency a measure of prestige it had lost during the Reconstruction period. He was born in Cuyahoga County, Ohio, in 1831. Fatherless at two, he later drove canal boat teams, somehow earning enough money for an education. He was graduated from Williams College in Massachusetts in 1856, and he returned to the Western Reserve Eclectic Institute (later Hiram College) in Ohio as a classics professor. Within a year he was made its president. Garfield was elected to the Ohio Senate in 1859 as a Republican. During the secession crisis, he advocated coercing the seceding states back into the Union. In 1862, when Union military victories had been few, he successfully led a brigade at Middle Creek, Kentucky, against Confederate troops. At 31, Garfield became a brigadier general, two years later a major general of volunteers. Meanwhile, in 1862, Ohioans elected him to Congress. President Lincoln persuaded him to resign his commission: It was easier to find major generals than to obtain effective Republicans for Congress. Garfield repeatedly won re-election for 18 years, and became the leading Republican in the House. At the 1880 Republican Convention, Garfield failed to win the Presidential nomination for his friend John Sherman. Finally, on the 36th ballot, Garfield himself became the âdark horseâ nominee. By a margin of only 10,000 popular votes, Garfield defeated the Democratic nominee, Gen. Winfield Scott Hancock. As President, Garfield strengthened Federal authority over the New York Customs House, stronghold of Senator Roscoe Conkling, who was leader of the Stalwart Republicans and dispenser of patronage in New York. When Garfield submitted to the Senate a list of appointments including many of Conklingâs friends, he named Conklingâs arch-rival William H. Robertson to run the Customs House. Conkling contested the nomination, tried to persuade the Senate to block it, and appealed to the Republican caucus to compel its withdrawal. But Garfield would not submit: âThisâ¦will settle the question whether the President is registering clerk of the Senate or the Executive of the United Statesâ¦. shall the principal port of entry ⦠be under the control of the administration or under the local control of a factional senator.â Conkling maneuvered to have the Senate confirm Garfieldâs uncontested nominations and adjourn without acting on Robertson. Garfield countered by withdrawing all nominations except Robertsonâs; the Senators would have to confirm him or sacrifice all the appointments of Conklingâs friends. In a final desperate move, Conkling and his fellow-Senator from New York resigned, confident that their legislature would vindicate their stand and re-elect them. Instead, the legislature elected two other men; the Senate confirmed Robertson. Garfieldâs victory was complete. In foreign affairs, Garfieldâs Secretary of State invited all American republics to a conference to meet in Washington in 1882. But the conference never took place. On July 2, 1881, in a Washington railroad station, an embittered attorney who had sought a consular post shot the President. Mortally wounded, Garfield lay in the White House for weeks. Alexander Graham Bell, inventor of the telephone, tried unsuccessfully to find the bullet with an induction-balance electrical device which he had designed. On September 6, Garfield was taken to the New Jersey seaside. For a few days he seemed to be recuperating, but on September 19, 1881, he died from an infection and internal hemorrhage. [Image]( The son of a Baptist preacher who had emigrated from northern Ireland, Chester A. Arthur was Americaâs 21st President (1881-85), succeeding President James Garfield upon his assassination. Dignified, tall, and handsome, with clean-shaven chin and side-whiskers, Chester A. Arthur âlooked like a President.â The son of a Baptist preacher who had emigrated from northern Ireland, Arthur was born in Fairfield, Vermont, in 1829. He was graduated from Union College in 1848, taught school, was admitted to the bar, and practiced law in New York City. Early in the Civil War he served as Quartermaster General of the State of New York. President Grant in 1871 appointed him Collector of the Port of New York. Arthur effectively marshalled the thousand Customs House employees under his supervision on behalf of Roscoe Conklingâs Stalwart Republican machine. Honorable in his personal life and his public career, Arthur nevertheless was a firm believer in the spoils system when it was coming under vehement attack from reformers. He insisted upon honest administration of the Customs House, but staffed it with more employees than it needed, retaining them for their merit as party workers rather than as Government officials. In 1878 President Hayes, attempting to reform the Customs House, ousted Arthur. Conkling and his followers tried to win redress by fighting for the renomination of Grant at the 1880 Republican Convention. Failing, they reluctantly accepted the nomination of Arthur for the Vice Presidency. During his brief tenure as Vice President, Arthur stood firmly beside Conkling in his patronage struggle against President Garfield. But when Arthur succeeded to the Presidency, he was eager to prove himself above machine politics. Avoiding old political friends, he became a man of fashion in his garb and associates, and often was seen with the elite of Washington, New York, and Newport. To the indignation of the Stalwart Republicans, the onetime Collector of the Port of New York became, as President, a champion of civil service reform. Public pressure, heightened by the assassination of Garfield, forced an unwieldy Congress to heed the President. In 1883 Congress passed the Pendleton Act, which established a bipartisan Civil Service Commission, forbade levying political assessments against officeholders, and provided for a âclassified systemâ that made certain Government positions obtainable only through competitive written examinations. The system protected employees against removal for political reasons. Acting independently of party dogma, Arthur also tried to lower tariff rates so the Government would not be embarrassed by annual surpluses of revenue. Congress raised about as many rates as it trimmed, but Arthur signed the Tariff Act of 1883. Aggrieved Westerners and Southerners looked to the Democratic Party for redress, and the tariff began to emerge as a major political issue between the two parties. The Arthur Administration enacted the first general Federal immigration law. Arthur approved a measure in 1882 excluding paupers, criminals, and lunatics. Congress suspended Chinese immigration for ten years, later making the restriction permanent. Arthur demonstrated as President that he was above factions within the Republican Party, if indeed not above the party itself. Perhaps in part his reason was the well-kept secret he had known since a year after he succeeded to the Presidency, that he was suffering from a fatal kidney disease. He kept himself in the running for the Presidential nomination in 1884 in order not to appear that he feared defeat, but was not renominated, and died in 1886. Publisher Alexander K. McClure recalled, âNo man ever entered the Presidency so profoundly and widely distrusted, and no one ever retired ⦠more generally respected.â The first Democrat elected after the Civil War in 1885, our 22nd and 24th President Grover Cleveland was the only President to leave the White House and return for a second term four years later (1885-1889 and 1893-1897). The First Democrat elected after the Civil War, Grover Cleveland was the only President to leave the White House and return for a second term four years later. One of nine children of a Presbyterian minister, Cleveland was born in New Jersey in 1837. He was raised in upstate New York. As a lawyer in Buffalo, he became notable for his single-minded concentration upon whatever task faced him. At 44, he emerged into a political prominence that carried him to the White House in three years. Running as a reformer, he was elected Mayor of Buffalo in 1881, and later, Governor of New York. Cleveland won the Presidency with the combined support of Democrats and reform Republicans, the âMugwumps,â who disliked the record of his opponent James G. Blaine of Maine. A bachelor, Cleveland was ill at ease at first with all the comforts of the White House. âI must go to dinner,â he wrote a friend, âbut I wish it was to eat a pickled herring a Swiss cheese and a chop at Louisâ instead of the French stuff I shall find.â In June 1886 Cleveland married 21-year-old Frances Folsom; he was the only President married in the White House. Cleveland vigorously pursued a policy barring special favors to any economic group. Vetoing a bill to appropriate $10,000 to distribute seed grain among drought-stricken farmers in Texas, he wrote: âFederal aid in such cases encourages the expectation of paternal care on the part of the Government and weakens the sturdiness of our national character. . . . â He also vetoed many private pension bills to Civil War veterans whose claims were fraudulent. When Congress, pressured by the Grand Army of the Republic, passed a bill granting pensions for disabilities not caused by military service, Cleveland vetoed it, too. He angered the railroads by ordering an investigation of western lands they held by Government grant. He forced them to return 81,000,000 acres. He also signed the Interstate Commerce Act, the first law attempting Federal regulation of the railroads. In December 1887 he called on Congress to reduce high protective tariffs. Told that he had given Republicans an effective issue for the campaign of 1888, he retorted, âWhat is the use of being elected or re-elected unless you stand for something?â But Cleveland was defeated in 1888; although he won a larger popular majority than the Republican candidate Benjamin Harrison, he received fewer electoral votes. Elected again in 1892, Cleveland faced an acute depression. He dealt directly with the Treasury crisis rather than with business failures, farm mortgage foreclosures, and unemployment. He obtained repeal of the mildly inflationary Sherman Silver Purchase Act and, with the aid of Wall Street, maintained the Treasuryâs gold reserve. When railroad strikers in Chicago violated an injunction, Cleveland sent Federal troops to enforce it. âIf it takes the entire army and navy of the United States to deliver a post card in Chicago,â he thundered, âthat card will be delivered.â Clevelandâs blunt treatment of the railroad strikers stirred the pride of many Americans. So did the vigorous way in which he forced Great Britain to accept arbitration of a disputed boundary in Venezuela. But his policies during the depression were generally unpopular. His party deserted him and nominated William Jennings Bryan in 1896. After leaving the White House, Cleveland lived in retirement in Princeton, New Jersey. He died in 1908. [logo](
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