Henry Adams – The Intelligent Collector Magazine

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.!

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].

Peaceful transfer of presidential power is one of our strengths

*Seven Days in May*, starring Burt Lancaster and Kirk Douglas, is a 1964 movie about a military/political cabal’s planned takeover of the U.S. government.

By Jim O’Neal

It seems clear that one of the bedrock fundamentals that contributes to the stability of the U.S. government is the American presidency. Even considering the terrible consequences of the Civil War – 11 states seceding, 620,000 lives lost and widespread destruction – it’s important to remember that the federal government held together surprisingly well. The continuity of unbroken governance is a tribute to a success that is the envy of the world.

Naturally, the Constitution, our system of justice and the rule of law – along with all the other freedoms we cherish – are all critical contributors. But it’s been our leadership at the top that’s made it all possible. In fact, one could argue that having George Washington as the first president for a full eight years is equal in importance to all other factors. His unquestioned integrity and broad admiration, in addition to precedent-setting actions, got us safely on the road to success despite many of the governed being loyal to the British Crown.

Since that first election in 1789, 44 different men have held the office of president (Grover Cleveland for two separate terms), and six of them are alive today. I agree with Henry Adams, who argued, “A president should resemble a captain of a ship at sea. He must have a helm to grasp, a course to steer, a port to seek. Without headway, the ship would arrive nowhere and perpetual calm is as detrimental to purpose as a perpetual hurricane.” The president is the one who must steer the ship, as a CEO leads an organization, be it small or large.

In the 229 intervening years, there have been brief periods of uncertainty, primarily due to vague Constitutional language. The first occurred in 1800, when two Federalists each received 73 electoral votes. It was assumed that Thomas Jefferson would be president and Aaron Burr would be vice president. The wily Burr spotted an opportunity and refused to concede, forcing the decision into the House. Jefferson and Burr remained tied for 35 ballots until Alexander Hamilton (convinced that Jefferson was the lesser of two evils) swayed a few votes to Jefferson, who won on the 36th ballot. This technical glitch was modified by the 12th Amendment in 1804 by requiring an elector to pick both a president and a vice president to avoid any uncertainty.

A second blip occurred after William Henry Harrison and John Tyler defeated incumbent Martin Van Buren. At age 68, Harrison was the oldest to be sworn in as president, a record he held until Ronald Reagan’s inauguration in 1981 at age 69. Harrison died 31 days after his inauguration (also a record), the first time a president had died in office. A controversy arose over the successor. The Presidential Succession Act of 1792 specifically provided for a special election in the event of a double vacancy, but the Constitution was not specific regarding just the presidency.

Vice President Tyler, at age 51, would be the youngest man to assume leadership. He was well educated, intelligent and experienced in governance. However, the Cabinet met and concluded he should bear the title of “Vice President, Acting as President” and addressed him as Mr. Vice President. Ignoring the Cabinet, Tyler was confident that the powers and duties fell to him automatically and immediately as soon as Harrison had died. He moved quickly to make this known, but doubts persisted and many arguments followed until the Senate voted 38 to 8 to recognize Tyler as the president of the United States. (It was not until 1967 that the 25th Amendment formally stipulated that the vice president becomes president, as opposed to acting president, when a president dies, resigns or is removed from office.)

In July 1933, an extraordinary meeting was held by a group of disgruntled financiers and Gen. Smedley Butler, a recently retired, two-time Medal of Honor winner. According to official Congressional testimony, Smedley claimed the group proposed to overthrow President Franklin Roosevelt because of the implications of his socialistic New Deal agenda that would create enormous federal deficits if allowed to proceed.

Smiley Darlington Butler was a U.S. Marine Corps major general – the highest rank authorized and the most decorated Marine in U.S. history. Butler (1881-1940) testified in a closed session that his role in the conspiracy was to issue an ultimatum to the president: FDR was to immediately announce he was incapacitated due to his crippling polio and needed to resign. If the president refused, Butler would march on the White House with 500,000 war veterans and force him out of power. Butler claimed he refused the offer despite being offered $3 million and the backing of J.P. Morgan’s bank and other important financial institutions.

A special committee of the House of Representatives (a forerunner to the Committee on Un-American Activities) headed by John McCormack of Massachusetts heard all the testimony in secret, but no additional investigations or prosecutions were launched. The New York Times thought it was all a hoax, despite supporting evidence. Later, President Kennedy privately mused that he thought a coup d’état might succeed if a future president thwarted the generals too many times, as he had done during the Bay of Pigs crisis. He cited a military plot like the one in the 1962 book Seven Days in May, which was turned into a 1964 movie starring Burt Lancaster and Kirk Douglas.

In reality, the peaceful transfer of power from one president to the next is one of the most resilient features of the American Constitution and we owe a deep debt of gratitude to the framers and the leaders who have served us so well.

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].

Winfield Scott Arguably the Most Astonishing Military Officer in U.S. History

A Winfield Scott “For President” daguerreotype from his unsuccessful 1852 bid for the presidency sold for $25,000 at a September 2015 Heritage auction.

By Jim O’Neal

Some historians have labeled him as remarkable, perhaps the most remarkable in American history. For more than 50 years, he served as an officer in the U.S. Army, wearing the stars of a general from 1814 until his death in 1866 at age 80. Following Andrew Jackson’s retirement from the Army in 1821, he served as the country’s most prominent general, stepping down in late 1861, six months after the start of the Civil War.

Lieutenant General Winfield Scott, hero of the War of 1812, conqueror of Mexico in a hazardous campaign, and Abraham Lincoln’s top soldier at the beginning of the Civil War, was born in Virginia in 1786. It was a time of “an innumerable crowd of those striving to escape from their original social condition,” as described by French observer of America, Alexis de Tocqueville.

Success rested on the possession of land, driving both ambitious Americans and their government west.

Winfield’s father died when he was 5, and his mother died in 1803 when he was 17 and on his own. By 1807, he had tired of schooling and joined a prominent law firm in Richmond, “riding the circuits” where he helped provide legal assistance to litigants. It was here that the governor of Virginia made an appeal for volunteers to the state militia after a British frigate intercepted an American ship to search for four deserters from His Majesty’s Navy … the famous Chesapeake-Leopard Affair.

The people of the United States reacted with surprising violence, almost lynching British officers and attacking a nearby squadron. “For the first time in their history,” wrote American historian Henry Adams, “the people of the United States learned in June 1807 the feeling of a true national emotion.”

Public opinion forced President Thomas Jefferson to issue a proclamation requiring all armed British vessels to depart American waters. Then he called on all governors to furnish forces of 100 militia each. Winfield Scott felt an overwhelming urge to play a part and eagerly joined his fellow Virginians.

Thus began a long, storied military career, both during the consolidation of the nation and its expansion.

As a general, he was not the architect. It was President James Madison who attempted to unsuccessfully annex Canada in 1812. It was President Jackson who decided that American Indians east of the Mississippi must be moved to western lands following the passage of the Indian Removal Act of 1830 (the infamous “Trail of Tears”). President John Tyler eventually settled the boundary dispute with Britain over the border between Maine and New Brunswick, Canada. James K. Polk manipulated the War with Mexico that expanded the nation into the southwest. And President James Buchanan used General Scott to secure the San Juan Islands, between Vancouver Island and the mainland, during the Pig War between the United States and Great Britain.

For each of these presidents, the agent and builder, in contrast to the architect, was General Scott. In this role, Scott served under 14 presidents, 13 of them as a general officer. Winfield “Old Fuss and Feathers” Scott lost his own bid for the presidency as the unsuccessful candidate for the Whigs in 1852. However, he certainly had the longest and most astonishing military career in U.S. history. And that includes all the other great men: Washington, Jackson, Grant, Lee, Eisenhower, etc.