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...spent $1,261,412. For the same period Republican receipts were $1,938,821, expenditures $1,960,290. Since Sept. 1 new Democratic borrowings totaled $130,000. Unpaid debts on the 1928 campaign included $125,000 to County Trust Co. of New York and $115,250 to John Jacob Raskob. Notable contributors since Sept. 1: Bernard Mannes Baruch...

Author: /time Magazine | Title: National Affairs: Carrying the Country | 11/14/1932 | See Source »

...food came & went, small Mr. Raskob thoughtfully eyed large Mr. Farley across the table. Four years ago Mr. Raskob had been where Mr. Farley was now, just rounding out a campaign to elect a Democratic President. In honest expectation of a Brown Derby victory Chairman Raskob had piled up a huge party deficit. After defeat he had refused to let his machine go to rusty scrap as was the Democratic custom between elections. Basing his organization at Washington, financing it largely out of his own pocket, he and Jouett Shouse had opened a drumfire on the Republicans which helped...

Author: /time Magazine | Title: DEMOCRATS: Portents & Prophecies | 10/31/1932 | See Source »

Then had come the Chicago convention. Mr. Raskob had been shoved to one side as this good-natured, smiling man now sitting across the table from him strode out on the Democratic stage, captured the convention, nominated his man for President, took over the national chairmanship, scrapped the fine Raskob machine and set his own running as the official party organization. These events had left Mr. Raskob not bitter-John Raskob is a sportsman -but chagrinned, dismayed, hurt. Since June he had kept his distance from Chairman Farley and the Roosevelt bandwagon...

Author: /time Magazine | Title: DEMOCRATS: Portents & Prophecies | 10/31/1932 | See Source »

Money & More. When the meal was almost over and during a lull in Jim Farley's hearty storytelling, Mr. Raskob reached in his pocket and pulled out an oblong piece of paper. This he passed to the national chairman whose pale blue eyes blinked in happy surprise as they fell upon it. It was a check for $25,000-Mr. Raskob's personal contribution to the campaign of Franklin Delano Roosevelt. Chairman Farley wrung Mr. Raskob's hand, gushed his gratitude. The party certainly needed the money but the Raskob check meant more than money. It signified...

Author: /time Magazine | Title: DEMOCRATS: Portents & Prophecies | 10/31/1932 | See Source »

Clouds. In the shining sky at Demcratic headquarters in Manhattan's Biltmore Hotel, there were still a few dark clouds. Lowest and blackest was the money cloud. With a deficit hanging over, Democratic credit was none too good. Twenty-five-thousand-dollar contributions like Mr. Raskob's and Vincent Astor's were few & far between. The idea of small gifts from "forgotten men" had not proved a success. One week lately it was all headquarters could do to meet its $5,000 payroll. The campaign was largely being financed on more borrowed money and the hope...

Author: /time Magazine | Title: DEMOCRATS: Portents & Prophecies | 10/31/1932 | See Source »

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