The Reconstruction of Ulysses S Grant
by Michael Durbin
In the second half of the 19th century, few Americans were better known—and revered—than the man whose face looks out today from the $50 bill. Ulysses S. Grant led Union troops to victory in the American Civil War, then thwarted attempts by President Andrew Johnson to suppress fundamental civil rights of newly freed black Americans.
Twice elected president himself, Grant stewarded a war-torn nation as it struggled to reunify. After leaving the White House, he invested his name and entire life savings to a Wall Street brokerage firm. It would make him rich, he was told, and afford him a comfortable retirement. Instead, it would leave him penniless.
Like any army commander, Grant had lost battles and had known the pain of defeat. But this loss hit personally. Never before had he found himself in straits so dire, literally destitute. Fortunately, the former president and retired general had one more fight in him—because his real troubles had just begun.