Historical – The Intelligent Collector Magazine

Let There Be Light

photograph of vintage lightbulbs — These five lightbulbs and one socket, used as court exhibits in patent infringement lawsuits filed by the Edison Electric Light Company in the late 19th century, sold for $30,000 in a December 2016 Heritage auction.

By Jim O’Neal

The Gilded Age was an exciting time in American history and roughly spans the period following the Civil War and extending to the start of the 19th century. The powerful combination of technical advances in manufacturing, communications and transportation marked the transformation of America from an agrarian society to a major industrial pioneer.

In the brief time between 1870 and the beginning of the first World War in Europe, the American economy grew faster, became more diversified and changed more profoundly than at any earlier 50-year period in the nation’s history. In the process, the United States created the largest and most modern industrial economy on earth. In 1890, the Census Bureau declared that the frontier, a hallmark of “The American Story,” had quietly ceased to exist. Newspaperman Horace Greeley’s advice to “Go West, young man” had become apocryphal.

However, it is still possible to trace the roots back to 1830, when men with vision and courage began pushing the fantastical idea that railroads (which barely existed) should be flung across the entire American continent. President Lincoln, agile enough to plan on how to win a war and also consider the nation’s future, was a railroad supporter. In 1862 he had the Pacific Railway Act attached to the important Homestead Act. Two companies, one in the San Francisco area and one in the East, started laying tracks.

On May 10, 1869, they met in Utah and celebrated by driving a golden spike. A telegraph was sent to both coasts with a single word: “DONE!” By 1876 it took just 88 hours and 33 minutes to travel from San Francisco to New York City. Also on board was the United States mail (the telegraph had killed the Pony Express 10 years earlier), fresh vegetables, real beef instead of bison, and gold deposits. Businessmen used it to cut down on travel time, and pioneers abandoned their prairie schooners.

Cities flourished as the rapid growth of factories accelerated urbanization and waves of migrants were attracted to the promise of better jobs. As America raced to become the largest economy, by the 1870s it became clear what was needed most: light. Light for the factories now running 24 hours a day. Light for the streets and homes and even for the library where people congregated to improve their English or hone their skills. The problem was how to get it. Whale oil was out, kerosene too smoky and gaslight too dim and dangerous. The magic elixir was electricity! It had been known since Ben Franklin and had been appropriated to invent the telegraph, telephone and phonograph – three world-changing devices in which Thomas Edison had played a role.

In April 1881, Scientific American dedicated an issue to the enhancement of electricity. On the cover was a sketch of the lights on NYC sidewalks. Seeing the cityscape glow with faces and objects at night suggested a new immense opportunity. Broadway owed the credit to a young inventor from Cleveland named Charles Brush. For a brief time, Brush’s system dominated the field. Not surprisingly, Edison – aka “The Wizard of Menlo Park” – would overtake him.

On New Year’s Eve 1879, using 1 million lightbulbs, there was a demonstration of what would become “The Great White Way.” The Wizard, always looking to the future, thought of the superb potential for expansion, and soon Hollywood was involved and Edison invented moving pictures. In time he would boldly predict, “We will make electricity so cheap that only the rich will burn candles.” And so it was with oil, transportation, publishing, retail and steel. When Andrew Carnegie sold his steel interests to J.P Morgan for $480 million ($300 billion today), it was the largest personal sale in world history.

In 1873, a few years before we met Tom Sawyer, Mark Twain published his novel The Gilded Age: A Tale of Today. He had spotted the irony of the situation and how the splendor of a gold patina was masking the workers’ low wages and the dangerous and unhealthy conditions – a glittering surface obscuring the corruption underneath.

Intelligent Collector blogger JIM O’NEAL is an avid collector and history buff. He is president and CEO of Frito-Lay International [retired] and earlier served as chair and CEO of PepsiCo Restaurants International [KFC Pizza Hut and Taco Bell].

Harry Truman’s Big Challenge

This rare Truman campaign button sold for $13,750 in a February 2020 Heritage auction.

By Jim O’Neal

Harry Truman was born on May 8, 1884, in Lamar, Missouri. This was during the White House years of Chester Arthur, who had succeeded to the presidency after the assassination of James Garfield. Garfield had been shot on July 2, 1881, in a Washington train station. The doctors were unable to locate and remove the bullet and, in the process, exposed Garfield to unsterile instruments that caused a fatal infection.

Alexander Graham Bell made two attempts to locate the bullet with a homemade metal detector, but Garfield was on a mattress composed of steel wires that distorted the sound. President Garfield lasted until September 19, but Dr. Doctor Bliss (yes, that’s his real name) had ignored the new medical research of Joseph Lister linking germs to infections and the critical need for clean hands and instruments. Garfield’s death could have been ruled medical malpractice even in those early days.

In Truman’s lifetime, two more vice presidents — Theodore Roosevelt and Calvin Coolidge — would become president following the deaths of William McKinley (1901) and Warren Harding (1923). John Tyler had become the 10th president in 1841 by establishing this important precedent for vice presidents — since there were others who favored vice president “acting as president” and the Constitution had been ambiguous on the question of presidential succession.

Now it was 104 years later and the United States was heavily involved in World War II. Truman had only been vice president for 82 days when President Franklin D. Roosevelt died on April 12, 1945. Chief Justice Harlan Stone administered the oath of office to President Truman at 7:09 p.m. Earlier that day he had been hurriedly told of a new, highly destructive weapon; however, there had not been time to brief him on the details. He was the seventh vice president to follow the death of a president.

Most historians agree that the new president was faced with an unprecedented surge of history, with larger, more difficult global decisions than any president before him. Neither Abraham Lincoln, with a pending civil war, nor FDR, in his tumultuous first 100 days, had to contend with issues of this magnitude. His big advantage was that he was savvy enough to recognize it. On his first full day, he famously told a group of reporters: “Boys, if you ever pray, pray for me now…when they told me…I felt like the moon, the stars and all the planets had fallen on me!”

To magnify the complexity of the challenge, Truman had no relations with our main allies British or Russian. No firsthand knowledge of Stalin or Churchill. He had no background in foreign policy, and Roosevelt had not included him in high-level decisions or plans. He didn’t even know his secretary of state, except to say hello. He was unprepared, confused and even frightened to some degree. The Washington Post summed it up as gently as possible: “It is needless to say that President Truman comes into this gigantic assignment under a handicap.” The paper then went on to write a candid editorial that left nothing to interpretation.

One thing he did have, although he wouldn’t find out until April 25, was an atomic bomb. This would prove to be one of the most astonishing game changers in recorded history. Then two weeks later, Germany surrendered and the nation celebrated victory in Europe (V-E Day). The date was May 8, Truman’s birthday. He was now 61 years old. The problem had been simplified. Defeat Japan.

We know now how the war ended; however, at the time, there were options. By the summer of 1945, the defeat of Japan was a foregone conclusion. The Japanese navy and air force were destroyed. The naval blockade of Japan and intensive bombing of the cities had devastated the country and the economy. Okinawa had been captured, and the Allies could easily launch an invasion of the main home islands. An invasion would be 10 times worse than Normandy, and the Japanese would fight to the last death.

The issue remained: how to get a full Japanese surrender.

In the end it would take two atomic bombs on Hiroshima and Nagasaki to obtain a full surrender.

The man from Missouri continues to rise in the ranks of American presidents.

He was one tough dude.

The Rocky Path to Proving Einstein’s Theory of Relativity

A first edition of Albert Einstein’s ‘Relativity: The Special and the General Theory, a Popular Exposition’ sold for $10,625 in a December 2021 Heritage auction.

By Jim O’Neal

While watching TV someone mentioned Principe and it piqued my interest, primarily because I knew so little about this relatively small island off the West Coast of Africa in the Gulf of Guinea. After digging a little deeper, I discovered Principe was where Albert Einstein’s theory of general relativity was corroborated by a gifted mathematician, Sir Arthur Eddington, during a total solar eclipse.

The date was May 29, 1919.

To fully understand the sequence of events, it helps to start about 75 years earlier.

During the 19th century, the map of Europe was frequently redrawn as old empires crumbled and new powers emerged. You may not know that in 1850, the countries of Germany and Italy that we know so well today did not exist. Instead, there were many German-speaking and Italian-speaking states, each with their own leaders.

Then in the 1860s and 1870s ambitious politicians started merging these states through a combination of hostile actions and political agreements. A prime example was the Franco-Prussian War of 1870-71. The German states, led by Otto von Bismarck (the “Iron Chancellor”), defeated France soundly. This ended France’s domination of Europe and forced Napoleon into exile in Britain.

The formerly feuding 25 German principalities were transformed into a new unified German Empire on January 18, 1871. The new superpower had an enormous Army, a streamlined economy and intellectual institutions that dwarfed the European continent. The seeds of Germanic militarism would plague the world well into the 20th century. Following a visit by the peripatetic Mark Twain in 1878 he wrote, “What a paradise this land is! Such clean clothes and good faces, what tranquil contentment, what prosperity, what genuine freedom, what superb government! And I am so happy, for I am responsible for none of it. I am only here to enjoy.” High praise for a country that would wreak havoc upon the world twice in the next century.

By the turn of the 20th century, a peculiar devolution emerged with a complicated network of alliances and rivalries. When the heir to the Austrian throne, Archduke Franz Ferdinand, was assassinated by a Serbian nationalist in June 1914, Austria declared war on Serbia. Then the others followed like a line of dominoes cascading helter-skelter. In Europe the fighting took place on two fronts: the Western Front, stretching from Belgium to Switzerland, and the Eastern Front, from the Baltic to the Black Sea. Then it quickly spread to the European colonies throughout the world. The war raged for four and a half years, and more than 20 million lost their lives.

In the United States, seemingly isolated by two great oceans, President Woodrow Wilson was re-elected in 1916 under the slogan “He kept us out of war.” Five months later he asked Congress to declare war against Germany, and 60 days later American troops landed in France. The distant sounds of guns had somehow morphed into a cacophony of a world war.

At the time, very few were aware of the effects the Great War had on Einstein’s efforts to prove his general theory of relativity. The industrialized slaughter bled Europe from 1914-1918 without regard for the weak or strong, the right or the wrong. Wars do not have a conscience or any pity for the young or old. Their objective is destruction. Men make these decisions.

At age 39, Einstein was working in Berlin, literally starving due to food blockades. He lost 50 pounds in three months and was unable to communicate with his closest colleagues. He was alone, honing his theory of relativity, hailed at birth as “one of the greatest — perhaps the greatest — of achievements in the history of human thought.” This was the first complete revision of our conception of the universe since Sir Isaac Newton.

Scientists seeking to confirm Einstein’s ideas were arrested as spies. Technical journals were banned as enemy propaganda. His closest ally was separated by barbed wire and U-boats. Sir Arthur Eddington became secretary of the Royal Astronomical Society and they secretly collaborated. It was actually Eddington who supplied Einstein’s astonishingly mathematical work to help prove the theory. He was convinced that Einstein was correct. But how to physically prove it?

In May 1919, with Europe still in the chaos left by war, Eddington led a globe-spanning expedition to catch a fleeting solar eclipse on film. This confirmed Einstein’s boldest prediction that light has weight and could be bent around an orbiting object — in this case Earth itself. The event put Einstein’s picture on front pages around the world!

Later, on August 2, 1939, he would write a letter to President Franklin D. Roosevelt warning him that an atomic bomb was feasible and the Germans, with all their talented rocket scientists, could be dangerously close to making one. He encouraged the president to secure a supply of uranium and make it a priority.

We now know how this ended.

Oil, Automobiles and Inflation

photograph - silver statuette — *Full Throttle* circa 1920 nickel-plated bronze automobile mascot, by Boccazzi, realized $2,250.00 at Heritage Auction, November 2019.

By Jim O’Neal

In 1859 a man by the name of Edwin Drake drilled the 1st mechanical oil well in Titusville, PA. Since that time, many great fortunes have been made as crude oil inexorably became the lifeblood of the American economy. Sadly, Mr. Drake did not patent his process and died in poverty. Like almost no other product, oil contributed to the American ethos, most notably the propulsion of our dream machine, the automobile.

After it became available to the middle class in the 1920s, the passenger car was visibly symbolic of American prosperity, perhaps more than wealth itself. It gradually evolved into a necessity as the growth of suburbia made mass transportation an anachronism. In a 1953 Congressional hearing, General Motors CEO Charles Wilson declared, “As General Motors goes, so goes the Nation.” It would take some time, but this linkage to the future was almost prophetic.

As General Motors made larger cars, people bought them according to their status – the bigger the car, the bigger sign of success. An automobile was a statement to society – a chrome and steel declaration of self that spoke to our ambitions of speed and power. Rather strangely, no one in Detroit seemed concerned about the rapid increase of shiploads of smaller Toyotas, Nissans and Hondas unloading night and day in California ports of entry. This trend to smaller is better was a harbinger of dramatic changes just around the next corner, yet no one seemed to care and those that did were not concerned.

My friend Tom Peters (In Search of Excellence) loved to recount this story from his experience at McKinsey, one of the world’s premiere consulting firms, especially for corporate strategy. Apparently, the GM Board of Directors (and the Ford Motor Company) received periodic business updates from Senior Management. One of the more important key performance indicators in most businesses is SOM (share of market). Despite all the competition, GM’s share was remarkably stable at +/- 35%.

After a little digging, it turned out that someone had decided to exclude foreign imports and just focus on domestic production. Effectively, this meant the pie was getting smaller, but their slice was unchanged. A sad, but true story.

Perhaps it was because there was no single event, such as the stock market crash in 1929, that warned of the economic uncertainty of the 1970s. And no single measure to explain the economy’s obvious malfunctioning. Instead, the pain of what turned out to be the most challenging decade since the Great Depression slowly crept up on the United States. When President Nixon was inaugurated in 1969 he inherited a recession from Lyndon Johnson, who had simultaneously supported the Vietnam War and launched the Great Society. Nixon continued to support the war and, despite his reputation as a fiscal conservative, ran budget deficits every single year he was in office. From 1970-1974, the budget deficits totaled $70 billion, a 20% increase.

Still, President Nixon’s concern was not about budget deficits, the strength of the dollar or even inflation. This was a man obsessed about re-election. And in his political calculus this translated into a simple tactic; avoid another recession, stimulate the economy and put maximum pressure on the Federal Reserve for low interest rates. He fired Fed Chair William McChesney and installed presidential advisor Arthur Burns in early 1970. The Nixon mandate was “cheap money” and low interest rates that would promote short term growth and give the economy the appearance of strength as voters were casting ballots. Nixon said, “We’ll take inflation if necessary, but we can’t take unemployment.“ Ironically, the Nation would soon have an abundance of both.

Another dramatic economic intervention was imposing wage and price controls in 1971. They appeared to work during the following election year, but later they would fuel the fires of double-digit inflation. Predictably, as soon as they were removed, virtually every business and individual rushed to raise prices to make up for all the pent-up ground that was lost. Concurrently, the Nixon deficits were making foreign dollar-holders more nervous. The result was a run on the dollar when it became obvious the dollar was vulnerable. Soon they were proved right when Nixon broke the last link to gold. The American dollars were now a fiat currency and devalued, leaving oil barons in the Middle East with tens of millions of petrodollars whose value was slashed.

They would extract their revenge when OPEC quadrupled the price of oil from $3 to $12 a barrel. Then the Arab states punished the West for supporting Israel in the Yom Kipper War by imposing a 6-month embargo in 1973. Inflation doubled to 8.8% in 1973 and later growing to 12%. By 1980 inflation was at 14%, with the United Srates being compared to the Weimer Republic. Still etched in my memory is the picture of long lines of autos at gas stations.

In truth, it was the policies of Lyndon Johnson and Richard Nixon who led our country to the edge of fiscal chaos. Both Administrations supported a winless, expensive War and ambitious social agendas without balancing our checkbook. They both got locked in a vicious cycle; pressed on them by their faith in containment, even as they tried to maintain prosperity. Then expanding to effect social transformation toward a more equitable society at home.

This gruesome story of the great inflation of the 1970s would not end until the early 1980s has been labeled “the greatest failure of American macroeconomic policy in the post-war period.” I think it was a display of hubris by 2 men who were political geniuses, but managed to surround themselves with men of questionable judgement that were willing to follow orders they knew were flawed.

I hope the folks in their spots today will take the time to at least consider the lessons learned. From my viewpoint, we are dangerously close to losing precious things that tens of thousands of great men struggled to attain. At least we could start with what FDR and Lincoln instinctively knew – you must have the support of most of the people, not 50% +1. The U.S. Constitution started with these three words for a reason, “We the people….

United States has been tested before, but history shows we shall not perish

A newly discovered 1823 Stone printing of the Declaration of Independence sold for $597,500 at a 2012 Heritage auction.

By Jim O’Neal

The 59th presidential election in 2020 was unusual in several aspects. Despite the complications of a lethal pandemic, voter turnout was remarkable, with more than 159 million or 66% of eligible voters casting their ballots. In recent years, 40% to 50% has been considered normal, a major slump from the 73% in 1900. Joe Biden’s 51.3% was the highest since 1932 – the first of FDR’s four elections. Both candidates snared over 74 million votes, which topped Barack Obama’s record of 69.5 million in 2008. (Biden’s 81 million is the most any presidential candidate has ever received.)

However, it is not unusual for an incumbent president to lose a bid for re-election. Ten presidents before President Trump suffered a similar fate starting with John Adams in 1800. This was the first election where political parties played a role and Adams’ own vice president defeated him.

Another unusual facet of 2020 was the delay in getting all the votes counted and then certified, along with an unprecedented number of legal actions asserting irregularities or voter fraud. Post-election polls indicate that a high percentage of Republican voters still believe that their candidate won. This is unfortunate since the United States has a long, impeccable reputation for smooth, peaceful transfers of power.

By contrast, throughout recorded history – at least from ancient Rome to modern Britain – all great empires maintained their dominance with force of arms and raw political power. Then, the United States became a global powerhouse and the first to dominate through the creation of wealth. It is a truly remarkable story, liberally sprinkled with adversity, financial panics, a horrendous Civil War and Great Depression without an owner’s manual or quick-fix guide. However, in 1782, Congress passed an act that declared our national motto would be E PLURIBUS UNUM (“One from many”), which, in combination with a culture of “can do,” bound us together and crowded out the skeptics and naysayers. In 1931, “In God we trust” was added just in case we needed a little divine help occasionally.

In the beginning, it was the land.

After Columbus stumbled into the New World while trying to reach Asia by sailing west, Europeans were eager to fund expeditions to this unknown New World. Spain was aggressive and hit the lottery, first in Mexico, followed by Peru. Portugal hit a veritable gold mine by growing sugar in Brazil using slave labor. Even the French developed a remarkable trading empire deep in America using fur trading with American Indians in the Great Lakes area and staking claims to broad sections of land. England was the exception, primarily since they were more focused on opportunities for colonization. The east coast of America had been generally ignored (too hot, too cold, no gold) until Sir Walter Raleigh tried (twice) to establish a viable colony in present day North Carolina. It literally vanished, leaving only a word carved on a tree: Croatoan.

However, the English were still highly motivated to colonize by basic economic pressures. The population had grown from 3 million in 1500 to 6 million in 1650, but without a corresponding increase in jobs. Hordes of starving people naturally gravitated to the large cities and the seaside. The largest was London, and it swelled to 350,000 people by 1650. To exacerbate the situation, the influx of gold and silver into Europe spiked inflation, making a difficult situation unsustainable. In the 16th century, prices rose a staggeringly 400%.

But we are living proof that England’s colonization of the Atlantic coast was finally successful in the 16th and 17th century. Colonial America grew and prospered as 13 colonies evolved into a quasi-nation that was on the verge of even greater accomplishments. However, by 1775 the greed of King George III became too much to tolerate and they declared their independence from Great Britain. The American Revolutionary War lasted seven years (1775-83) and the United States of America was established … the first modern constructional liberal democracy. Losing the war and the colonies both shocked and surprised Great Britain (and many others) and even today historians debate whether it was “almost a miracle” or that the odds favored the Americans from the start.

Then we began to expand across the vast unknown continent due to a series of bold moves. President Jefferson doubled the size of the nation in 1803 with the remarkable “Louisiana Purchase.” President Polk engineered a war with Mexico that concluded quickly with the United States taking control of most of the Southwest, followed soon by the annexation of the Texas Republic. The discovery of gold in the San Francisco area attracted people from all over the world. Despite all of this, not enough has been written about the strategic era just after the end of the Revolutionary War.

The Treaty of Paris signed on March 1, 1786, did far more than formalize the peace and recognize the new United States of America. Great Britain also ceded (despite objections of France) all the land that comprised the immense Northwest Territory. This was a veritable wilderness area northwest of the Ohio River totaling 265,878 acres, similar to the existing size of America, and containing the future states of Ohio, Indiana, Illinois and Wisconsin. With this and the Louisiana lands, the United States was eight times larger! In addition, the Northwest Ordinance included three astounding conditions: 1. Freedom of religion, 2. Free universal education and, importantly, 3. Prohibition of slavery.

Also consider that until that point, the United States did not technically own a single acre of land! Now we had an unsettled empire, double the size, north and west of the Ohio River, larger than all of France, with access to four of the five Great Lakes. And then there was the Ohio River itself, a great natural highway west!

This, my friends, is how you build a powerful nation, populate it with talent from all over the world, encourage innovation never seen before, and then trust the people to do the rest. Whenever we are temporarily distracted, have faith that this nation has been tested before and that government of the people, by the people, for the people shall not perish from the earth. As Aesop and his fables remind … United we stand. Divided we fall.

Social upheaval isn’t new … just look at the bumpy year of 1968

Walt Kelly’s *Pogo* comic strip often addressed political issues. This original 1968 Sunday strip realized $4,63 at a November 2016 Heritage auction.

By Jim O’Neal

In 1964, Martin Luther King Jr. was awarded the Nobel Peace Prize. He was on a mission that would include a march over a bridge in Selma, Ala., and he led a high-profile protest over voter-registration rules. Congress finally passed the Voting Rights Act, but it would turn out to be too late. King’s ideas about non-violence were poised for a rapid decline. The long-overdue legislation simply provoked an expression of rage, repression and frustration. Soon, riots broke out in Watts, followed by San Diego, Chicago, Philadelphia and Springfield.

The message seemed clear. This violence was not targeted against unfair laws, long-denied rights or even a new brand of segregation. It was against class distinctions and the invisible racism that deprives people of good jobs and better housing. The struggle to eat at the same lunch counters, and use the same restrooms, hotels or drinking fountains was over. This was about economic inequalities and disparities in everyday life. The voices that were speaking louder than MLK reflected the speeches of Malcolm X … belief in the purity and pride of the black race and separation from whites to obtain true freedom and self-respect.

The fever fueled urban rioting like a contagion, even after Malcolm was killed by a rival black Muslim in 1965. Eight thousand deaths or injuries occurred in 100 U.S. cities from 1965 to 1968. Malcolm’s provocative separatist ideology morphed into the hands of Stokely Carmichael and the Student Nonviolent Coordinating Committee, along with the Black Power sloganeering of Bobby Seale and the Black Panthers. Despite the efforts of broad swathes of committed people, there was a pervasive, ominous fear of a racial clash that was lurking in the shadows, ready to pounce.

In America, most years are routine… 365 days filled with weeks and months and only occasionally an event that might change the arc of history. Rarely do we experience shocks to the system that put us in a new orbit. Ironically, we’re in a classic worldwide disruption now and the path back to normalcy is filled with uncertainty. Even more critical is the simple fact that virtually everyone on this tiny speck has to join in or we all might perish. The pandemic is just one of the dangers. Climate change is a global concern and we’re also drifting back toward another Cold War with obvious parallels to the past. Nobody expected the events in 1914 to expand into a world war, yet almost everyone could see how WW2 was bound to occur.

And thus it was in 1968 when we endured a very bumpy ride.

Perhaps it began on Jan. 30 of that year when North Vietnam launched the Tet Offensive and caught everyone on our side flat-footed. A surprise attack on 100 cities was just implausible, but it did happen. Eventually, the military regained control, but in the process surrendered an enormous strategic PR advantage to the enemy. The American government had been promising that “Victory is in sight,” but was forced to retract the assertion. Walter Cronkite – the most trusted man in America – declared, “The Vietnam War is mired in a stalemate.” President Johnson took it one step further: “If I’ve lost Cronkite, I’ve lost the American people.”

This public embarrassment was followed by the astonishing Kerner Commission report in February. Established by the president, the blue-ribbon group was charged with investigating the causes of the rash of riots sweeping American cities. In a stinging rebuke, it blamed the riots on police brutality, racism and lack of economic opportunities. In siding with the rioters, the 468-page bestseller concluded with a bombshell: “Our nation is moving toward two societies, one white – separate and unequal.” It charged that white society is clearly implicated in the ghetto – “White institutions created it, white institutions maintain it and white society condones it.”

President Johnson promptly ignored it.

As the 1968 presidential primary season rolled around, Tet gave a boost to long-shot Eugene McCarthy. Running as a one-issue candidate (the war), he snagged a surprising 42% of the New Hampshire primary. Enter Bobby Kennedy, who, like most of America, was undergoing a transformation over Vietnam, civil rights and the charge America was not a moral country. However, he clung to the belief that not having a Kennedy in the White House was the missing elixir. He announced his candidacy on March 16.

Two weeks later (March 31), President Johnson made a prime-time speech to the American people. After listing the many positive things that had been accomplished, he started talking about a growing division in America and asked everyone to guard against divisiveness and its ugly consequences. He closed by saying he couldn’t afford to waste any of his precious time on partisan politics and … “I shall not seek and I will not accept, the nomination of my party for another term as your president.”

It had a somber, even sad tonality that when read today doesn’t seem to fit together.

Four days later, Martin Luther King Jr. was assassinated in Memphis and the now-familiar bright orange flames flared over Harlem, Chicago, Detroit and Kansas City. People were losing faith in our institutions and wondering who to blame.

Walt Kelly (1913-1973) seemed to be the only one with a plausible answer. Kelly was an American cartoonist and animator. He worked for Walt Disney studios until 1941, when he moved over to Dell Comics. There, he created a new lineup of animal cartoon characters, including Pogo Possum, Albert Alligator and Churchill LaFemme. The strip was layered with clever political satire. On Earth Day 1971, his son was complaining about sore feet from having to walk on all the tin cans, glass and junk that had accumulated in the swamp. This was when Pogo uttered his most famous observation … “Yep, son, we have met the enemy and he is us.”

Memo to Elizabeth and Bernie: You’ve been scooped by roughly 130 years

A collection of First Lady Frances Folsom Cleveland’s family and personally owned artifacts went to auction in September 2020.

By Jim O’Neal

March 4, 1893, marked the second time Stephen Grover Cleveland was inaugurated as president of the United States. He was greeted at the Executive Mansion by President Benjamin Harrison, the Republican he had defeated three months earlier. It was a mildly awkward meeting, the only time in history the transfer of presidential power involved outgoing and incoming presidents who had run against each other twice (each one winning once and losing once).

Benjamin “Little Ben” Harrison (he was 5-feet-6) was notoriously cold and aloof and President-elect Cleveland was stubbornly independent, with an aura of self-righteousness. Historian Henry Adams observed that “one of them had no friends and the other only enemies.” Robert G. Ingersoll, nicknamed “The Great Agnostic,” went a step further: “Each side would have been glad to defeat the other, if it could do so without electing its own candidate.” Strangely, I felt the same way in both 2016 and 2020.

Inauguration Day was bitterly cold and many recalled that Harrison’s grandfather, William Henry Harrison (the ninth president) had died 31 days after his inauguration. Following a very long acceptance speech, he caught pneumonia and it was fatal. He was 68 and at the time the oldest person to assume the presidency, a distinction he held until 1981 when Ronald Reagan was sworn in at age 69.

In 1893, President-elect Cleveland’s vice president, Adlai E. Stevenson, took the oath of office first. Sixty years later, his grandson (and namesake) would make two futile runs for the presidency (1952 and 1956). He had the bad luck of having one of America’s greatest heroes, General Dwight D. Eisenhower, as an opponent. War heroes are difficult to defeat and, in this case, it’s generally acknowledged that Ike could have beaten anyone and run on either party’s ticket. Outgoing President Harry Truman had even tried to broker such a deal in 1948 when he offered to step down to vice president.

Sadly, the 1892 election was vexed by Harrison’s wife contracting tuberculosis and dying two weeks before the election of Cleveland. But, after the inauguration and traditional transition, the ex-president seemed more than ready to return to his home in Indianapolis. Surprisingly, four years later, some of Harrison’s friends tried to convince him to seek the presidency again. He declined, but did agree to travel extensively making speeches in support of William McKinley’s successful candidacy. Little Ben died in February 1901 from pneumonia and a short six months later, President McKinley would become the third president to be assassinated.

But today belonged to President Cleveland and his wife Frances. They had been married during the first term in office on June 2, 1886, in the Blue Room at the White House. Cleveland was 49 years old at the time, Frances a mere 21. Frances Folsom Cleveland was the youngest First Lady in history and became very popular, primarily due to her youthful personality. They would have five children with the first one named Ruth. No, she was definitely not associated with Baby Ruth. That candy bar was renamed 30 years after her birth and 17 years after her death. After a warm welcome at the White House, President Cleveland’s troubles started almost right away.

In May, barely two months back in the White House, Cleveland discovered a growth on his palate, the soft tissue in the roof of the mouth that separates the oral and nasal cavities. It turned out to be a malignant tumor that required surgical removal. Fearful of panic in the already shaky financial markets, a clever plan was devised to perform a secret operation on a yacht in the East River. The surgery was successful and the president recuperated while sailing innocently on Long Island. The press was surprisingly gullible and accepted a story about two teeth that needed removal.

However, on dry land, economic forces were forming a dark storm that would usher in the worst financial crisis in the nation’s history. The pending depression would become known as the Panic of ’93. The 19th century had weathered many boom-bust economic cycles, but this powerful downturn would persist until the 20th century. Even as the president was organizing his cabinet, banks, factories and farms were tumbling into bankruptcy. Virtually everywhere, workers were struggling with layoffs and payouts as companies were swept away.

In his inaugural speech, Cleveland had warned about the dangers of business monopolies and inflation, however, his response to the economic chaos was austere in the extreme. He did not believe government should intervene for fear of eroding self-reliance and over-reliance on government. This was a common belief and it would take another generation for a new consensus to shape American politics. To fully grasp the significant schism that was silently evolving, one only has to read Thomas Sherman’s 1889 essay titled “The Owners of the United States.”

Using census data and promises of anonymity, he developed the thesis that 1/30th of the people in England owned 2/3 of the wealth. In America, he listed 70 individuals worth $2.7 billion and asserted no other country had such a concentration of millionaires. By contrast, 80% of Americans earned less than $500 annually, and 50,000 families owned half of the nation’s wealth. Further, wealthy men and corporations escaped taxation, with the burden falling “exclusively upon the working class.”

Memo to Elizabeth and Bernie: You’ve been scooped by roughly 130 years. Somehow, we managed to have a decent 20th century, save the world several times and develop a technological cornucopia for 330 million people vs. any other time in the history of the world. Go Bezos, Jobs/Allen, the Google guys, Walmart, Henry Ford, FDR and my man T.R.!

A little history helps put the 2020 election in perspective

This $1000 1882 Gold Certificate, Fr. 1218f (PCGS Very Fine 35) – with a vignette of Alexander Hamilton, the first Secretary of the Treasury – realized $293,750 at a January 2014 Heritage auction.

By Jim O’Neal

If our past is any guide to the future, I suspect that presidential politics will be a primary source of contention for several electoral cycles. The United States has produced some unusual presidential elections and the 2020 Biden vs. Trump race is not an isolated event that warrants exceptional anxiety.

A little history helps keep it in perspective.

During the 1787 Constitutional Convention, there was a long debate over the method for selecting a president. Among the proposals was whether the chief executive should be chosen by a direct popular election, by the Congress, by state legislators or intermediate electors. Direct election was rejected primarily because of a concern that common citizens would probably lack sufficient knowledge of the character or qualifications of candidates that would enable intelligent choices. Candidates would be spread throughout the 13 colonies and campaigning was not a viable option due to travel difficulties.

Letting Congress decide was quickly rejected since it would jeopardize the principle of executive independence. Similarly, allowing state legislatures to choose was turned down because the president might feel indebted to some states and allow them to encroach on federal authority.

Unable to agree, on Aug. 31, the Convention appointed a “Committee of Eleven” to resolve it. On Sept. 4, a compromise was agreed with each state appointing Presidential Electors, who would meet in their states and cast votes for two persons. The votes would be taken to Congress to be counted, with the candidate receiving a majority elected the presidential candidate and the second highest vice president. Since there was no distinction between which vote was specifically designed by position, the 12th Amendment was ratified 1804 to distinguish individual votes between the two offices.

Now the conventional election of president and vice president is an indirect election in which (only) citizens, who are registered to vote in Washington, D.C., or one of the 50 states, cast ballots for members of the Electoral College. Those electors cast the direct votes and it requires at least 270 electoral votes to win. In 1960, the 23rd Amendment granted D.C. citizens the same rights as the states to vote for electors, but they can NEVER have more votes than the least populous state. To date, they have never had more than three electors. Also, they do not have any rights to vote for senators or amendments to the Constitution.

For more than 200 years, Americans have been electing presidents using the Electoral College, but despite its durability, it is one of the least admired political institutions. Thomas Jefferson called it “the most dangerous blot on our Constitution.” It’s been an easy target for abolishment or modernization and polls consistently report citizens would much prefer a simpler direct election. However, amendments require a 2/3 majority in both the House and Senate or a complicated state ratification convention with 3/4 approval. This process has never been attempted.

This outdated system has led to a number of anomalies at times. In 1836, the Whigs tried a novel approach by running different candidates in different parts of the country. William Henry Harrison ran in New England, Daniel Webster in Massachusetts and Hugh White of Tennessee in the South. By running local favorites, they hoped to subsequently combine on one candidate or force the election into the House. The scheme failed when Democrat Martin Van Buren captured the majority.

Another quirk of fate occurred in 1872 when Democratic nominee Horace Greeley died between the popular vote and the meeting of the electors. The Democrats were left without an agreed candidate. Forty-two voted for Governor Tom Hicks … 18 for Gratz Brown … two for Charles Jenkins and three Georgia electors cast their votes for the dead Greeley (Congress refused to accept them).

In 1912, President William Howard Taft and ex-President Theodore Roosevelt caused a split in the Republican Party that allowed Democrat Woodrow Wilson to become president. On Oct. 14, just before a major speech, a fanatic named John Shrank stepped up, shouted something about a third term and shot T.R. in the chest. Roosevelt yelled at the crowd to stand back and declared “I will make this speech or die. It is one thing or the other!” He went on to make a 90-minute speech before heading for the hospital. The bullet had lodged in the massive chest muscles instead of penetrating the lungs! Wilson won but Taft finished a weak third place.

Lastly, compared to “the Revolution of 1800,” the 2020 election was mild and relatively free of widespread disorder. The 1800 campaign was so bitter that VP Aaron Burr ended up killing Alexander Hamilton in a duel and John Adams and Thomas Jefferson would not communicate with each other for 12 years.

Neither Abigail nor John Adams would attend the inauguration. Sound familiar?

John Wilkes Booth’s heinous act took away more than a beloved president

A wanted poster for co-conspirators John Wilkes Booth, Mary Surratt, David Herold sold for $47,800 at a May 2011 Heritage auction.

By Jim O’Neal

At some point when John Wilkes Booth was planning to assassinate President Abraham Lincoln, he must have decided that it would be more impactful to decapitate the primary leadership of the North and expand the hit list to include Vice President Andrew Johnson, Secretary of State William Seward and, perhaps, even General Ulysses S. Grant. After all, they were in Washington, D.C., and unprotected. It was a desperate move, but it might bolster the morale of the South. In the end, it failed because of a series of unrelated circumstances.

General Grant had declined the invitation of the president to attend a theater show because there was an eagerness to return home and resume normal life. However, that would still leave Secretary Seward, who was at home recuperating from a serious carriage accident that required medical attention. Vice President Johnson had already booked a room that night in the Kirkwood Hotel. Both men would be relatively easy targets for Booth’s co-conspirators.

Lewis Powell, the man assigned to kill Seward, had a clever plan to act like a delivery boy bringing medicine, enter the house and shoot the bedridden Seward. He did manage to stab Seward in the throat, but a metal splint on his jaw deflected most of the blows. Powell ran from the house, was easily captured and later hanged. The other conspirator, George Atzerodt, managed to book a room at the Kirkwood Hotel, but started drinking at the hotel bar, lost his nerve and fled. He was also captured and hanged. That only left Lincoln, and Booth shot him in the theater as he watched “Our American Cousin” with Mary by his side.

The date was April 14, 1865. The location was Ford’s Theatre.

Lincoln had won the 1860 presidential election by defeating three opponents. One was Senator Stephen A. Douglas, a Democrat from Kentucky who had helped Lincoln gain national prominence through a series of high-profile debates regarding slavery. (Douglas, coincidentally, died just two months after Lincoln was inaugurated). A second Democratic opponent was John C. Breckinridge – the incumbent vice president for James Buchanan. The third – John Bell – was the Tennessee Senator who ran as the candidate for the Constitutional Union Party, a group that was neutral on slavery but adamant that the Constitution be upheld. Lincoln’s 180 electoral votes were more than the other three combined.

Now it was four years later and President Lincoln was struggling to barely hang on. In June 1864, the prospects for the Union Army were equally dim. General Grant was bogged down in Virginia, General William Tecumseh Sherman was stalled before Atlanta and heavy casualties were shocking people back home. There was even talk about suspending or postponing the election due to the national crisis. But, as President Lincoln pointed out, “We cannot have free government without elections. If this rebellion forces us to forego a national election, it will appear we’re conquered and ruin us.”

We all now know that the 1864 election did go ahead as planned. It was the first time any nation held a general election during a major domestic war.

However, President Lincoln took a pounding in the press. Horace Greeley, founder-editor of the New-York Tribune, claimed “Mr. Lincoln is already beaten!” The influential James Gordon Bennett, founder-publisher of the New York Herald, was more direct: “Lincoln is a joke!” Some wanted to run Treasury Secretary Salmon P. Chase and some were clamoring for General Grant. Even Thurlow Weed, Lincoln’s advisor, told him his re-election was hopeless.

Just when it seemed that Lincoln had reconciled himself to defeat, military actions started to slowly improve. Admiral David Farragut (who was the first rear admiral, first vice admiral and first full admiral in the U.S. Navy) won a great victory at the Battle of Mobile Bay (admonishing his men to “Damn the torpedoes, full speed ahead”). General Sherman took Atlanta and began his famous “March to the Sea,” which culminated in the burning of Charleston, S.C., where the war had begun. Meanwhile, General Philip Sheridan was routing Southern troops in the valleys of Virginia and then devastating the surrounding areas.

Virtually all of Lincoln’s critics were muffled by these turns of events.

Abraham Lincoln and Andrew Johnson won the 1864 election and the Civil War in 1865. But, the country’s troubles were not over. After Lincoln was assassinated, Vice President Johnson became president and was unable to work with the Republican Congress, which had devised a trap to impeach him. He was acquitted, but lost any hope for governing. He went home a chastened man.

In 1875, he did manage to get re-elected to the U.S. Senate … the only man to do so (up to 2020).

John Wilkes Booth did much more damage than just assassinating a president. By killing Lincoln, he eliminated possibly the only man who could have restored harmony, implemented reconstruction and unified us as our founding documents intended.

Nearly 160 years later, we are still waiting for another messiah.

Presidential elections routinely deliver twists of fate

This Martin Van Buren rectangular sulfide sold for $11,250 at a February 2015 Heritage auction.

By Jim O’Neal

The Republic of Texas became an independent sovereign state on March 3, 1836. The United States recognized the legitimacy of the republic, but declined to annex the territory until Dec. 29, 1845, when it also became the 28th state. However, after the 1860 election of Republican Abraham Lincoln, the state of Texas, with a population that was about 30 percent Blacks (predominantly slaves), seceded from the Union. In 1861, Texas joined the Confederate States of America.

The well-known slogan “Six Flags over Texas” refers to the nations that governed Texas: Spain, France, Mexico, the Republic of Texas, the United States and the Southern Confederacy. Some historians claim that the last battle of the Civil War was fought in Texas at the Battle of Palmito Ranch on May 12-13, 1865. This may be technically correct, but it was after General Robert E. Lee surrendered to General Ulysses S. Grant at Appomattox (April 9) and President Jefferson Finis Davis dissolved the Confederacy (May 9). They also point out that the battle was a Confederate victory, which seems irrelevant.

Today, Texas is the second-largest state by area (Alaska is No. 1) and second largest in population (No. 1 is California).

The annexation of Texas occurred during the time the United States was rapidly expanding into the geographic area that would become the “Lower 48,” but deeply divided over the slavery issue that would plague national politics. The two-party system was still in an embryonic stage and hybrid political affiliations would result in unusual national elections.

A prime example is Martin Van Buren, vice president for Andrew Jackson from 1833-37 and the eighth man to serve in that position. In the election of 1836, he became the eighth president of the United States and the first to have been born (1782) after the American Revolution.

The election of 1836 was unusual since the recently formed Whig party was still sufficiently disorganized to the point they couldn’t agree on a single candidate to oppose Van Buren. In a highly questionable gamble, they decided to run four strong regional candidates with the hope they could deny Van Buren the opportunity to win a majority of the electoral votes and force the election into the House of Representatives. Despite having to run against four strong regional candidates, Van Buren won a majority of the electoral votes after winning a majority of the popular votes in both the North and South.

However, in a twist of fate, Van Buren’s vice president running mate, Richard M. Johnson, fell one electoral vote short when 23 Unfaithful Electors from Virginia refused to vote for Johnson due to their objections over his biracial marriage. So, for the first and only time (up till now), the United States Senate was required to hold a special election for the vice president. Johnson finally prevailed and served his four years as vice president for President Martin Van Buren. One could hope that this was an unfortunate anomaly, but they would be wrong.

When the Democrats met in Baltimore four years later in 1840 for their nominating convention, the incumbent president, Martin Van Buren, was renominated as expected. But VP Johnson ran into another political issue: the Democratic Party now considered him to be dead weight that would drag down the entire ticket. Even ex-President Andrew Jackson agreed and suggested they drop Johnson and replace him with a younger man … James K. Polk – the Speaker of the House. After the normal wrangling, they were still unable to agree and Martin Van Buren ran without a vice president!

This is only one of two elections (until 2020) where a major party did not have a vice presidential candidate on Election Day. The other was in 1912, when Vice President James S. Sherman (Republican) died six days before the election. You will not be surprised to learn that Martin Van Buren did not win the election and was replaced by William Henry Harrison as president and John Tyler, a Senator from Virginia, as vice president. Tyler took his oath of office on March 4, 1841. However, 30 days later, he was president of the United States when Harrison became the first president to die in office. Tyler was only 51 years old and the youngest president till that time.

Now skip forward 20 years to see how this sage evolved:

“At 4:30 a.m. April 12, 1861, a 10-inch mortar from Fort Johnson, on James Island, South Carolina, fired the first shot of the Civil War. Upon that signal, Confederate batteries from Sullivan’s Island, across Charleston Harbor, joined in. These were soon followed by a battery located at Cummings Point, which dominated Fort Sumpter from a distance of only a mile. The Civil War had begun.”

Epilogue: The hot heads in South Carolina were delirious with joy! They would chase these Yankees back North and whup their behinds in the process. President Jefferson Davis called up 100,000 troops to end this quickly. The old veterans yawned and predicted these cotton states would not last 30 days. Bull Run would demonstrate just how powerful the North was as they crushed these Southern rebels.

Welcome to your new job and shiny new home, Mr. Lincoln.