Ulysses S. Grant was the 18th President of the United States, serving from 1869 to 1877. Before his presidency, he was a highly successful military leader and played a key role in the Union’s victory during the American Civil War.
Born on April 27, 1822, in Point Pleasant, Ohio, Grant was the oldest of six children. He grew up in a middle-class family and was educated at West Point Military Academy, where he graduated in 1843.
After serving in the Mexican-American War, Grant resigned from the military in 1854 and struggled to find success in civilian life. However, when the Civil War broke out in 1861, he rejoined the military and quickly rose through the ranks.
Grant was known for his strategic and tactical skills, and he played a key role in several important Union victories, including the capture of Fort Henry and Fort Donelson in 1862 and the Battle of Vicksburg in 1863. In 1864, he was appointed as General-in-Chief of the Union Army by President Abraham Lincoln.
In 1865, Grant led the Union Army in the final campaigns of the Civil War, resulting in the surrender of Confederate General Robert E. Lee at the Appomattox Court House. This effectively ended the Civil War and paved the way for the reconstruction of the United States.
In 1868, Grant was elected President as a Republican. During his two terms in office, he focused on the economic development of the country and the protection of civil rights. He also oversaw the completion of the transcontinental railroad, which greatly improved transportation and commerce in the United States.
After leaving office, Grant traveled extensively and wrote his memoirs, which were published in 1885. He died on July 23, 1885, at the age of 63.
In conclusion, Ulysses S. Grant was a highly accomplished military leader and President who played a crucial role in the Union’s victory during the Civil War and the reconstruction of the United States. His leadership and dedication to the country continue to be admired and respected.
As I respect President Lincoln, definitely This is one more President from the Civil war I respect. Frankly speaking, I was not aware of his history. In India, we only have one face on our Currency but the US holds more than one While watching one youtube video, I realize that many US citizens didn’t realize that it was him who is on a $50 bill.
But the question is, what to learn about finance from him?
Ulysses S. Grant was a talented Army general and a well-liked president. As someone who was born into a poor family and didn’t have much education due to his family wealth. He struggled with money in his personal life from beginning to end. In particular, after the end of his presidency, he decided to settle in New York and try to make a fortune in banking. He partnered with 33-year-old Ferdinand Ward, who at the time was known as the “Young Napoleon of Wall Street,” to create the investment firm Grant and Ward.
Unfortunately, Grant’s lack of financial savvy was his downfall. Ferdinand Ward was nothing but a swindler, and Grant and Ward was simply a Ponzi scheme that Ward set up to milk money out of Grant’s famous and rich friends. When the entire scheme blew up, Grant had been diagnosed with cancer and knew he had only a short time to live. The former president was only able to avoid leaving his wife destitute by writing his memoirs and having his friend Mark Twain publish them. The book became a best-seller, but Grant did not live to see it. He once said, Do you think anyone would be interested in a book by me? Yes, sir, your life was worth reading. the way you handled it and all. The United States called you an Unconditional Surrender Grant For a Reason.
In an attempt to pay the debt, Grant sold all of his Civil War mementos in an attempt to make good on an outstanding personal loan of $150,000 that he had received from railroad mogul William H. Vanderbilt. Although Grant was unable to raise enough funds to completely repay the loan, Vanderbilt declared the loan paid in full. This Vanderbilt family is another great story to tell. Sadly, no one from that family becomes President and so I can’t add it here but if you study it, you will realize how not to manage money. It included nearly every lesson about how people lost their fortune.
The sad story of Grant’s financial troubles can remind modern Americans of the importance of truly understanding your investments. Grant fell victim to a scam artist because he did not understand the investments he was putting his money (and name) behind. We should all remember Grant’s misfortune when we are tempted to jump on something we don’t understand that seems to be going gangbusters.
So what is here to learn for people like you and me? Simple thing. Bankruptcies are normal. even presidents can not live unaffected by them. President Grant or POTUS18 as he may be called as per today’s language, Served his terms when there wasn’t any pension for the president. That happened all thanks to Harry Trueman. Even Harry S Trueman and his wife received the first 2 cards of Health insurance so Ulysses S grant wasn’t lucky. Maybe you are also not lucky. Many people in India work in the sector or have jobs that are not giving retirement or pension. So start making one for your own. Make an emergency fund. Take care of your finance or you may be forced to sell your achievement which is not means to sell.
Another thing that I realize is that Ponzi schemes are not at all great, nothing even for maybe the partner who started. If you want to make money. If you want to make money, there are various other ways. So think before giving your hard-earned money to anyone many times. This money education was one reason why I started this blog more than eight years before. So when I realize that even one great hero and former president of United states fall for this I realise that I was doing something right.
