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How did Grant become bankrupt?

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In 1880 the Republican "Old Guard," led by Roscoe Conkling , tried to secure another nomination for Grant but failed. He took up residence in New York City, where he invested money in a fraudulent private banking business. It collapsed in 1884, leaving him bankrupt.

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Get more facts and information about Grant, Ulysses Simpson . Or, view the full encyclopedia entry from The Columbia Encyclopedia, Sixth Edition.

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