And let me say I am proud of the fact that not one of them has ever asked me for a special favor. I am proud of the fact that not one of them has ever asked me to vote on a bill other than my own conscience would dictate. And I am proud of the fact that the taxpayers by subterfuge or otherwise have never paid one dime for expenses which I thought were political and shouldn't be charged to the taxpayers.
Let me say, incidentally, that some of you may say, "Well, that is all right, Senator, that's your explanation, but have you got any proof?" And I'd like to tell you this evening that just an hour ago we received an independent audit of this entire fund. I suggested to Governor Sherman Adams, who is the chief of staff of the Dwight Eisenhower campaign, that an independent audit and legal report be obtained, and I have that audit in my hands. It's an audit made by the Price Waterhouse & Co. firm, and the legal opinion by Gibson, Dunn, & Crutcher, lawyers in Los Angeles, the biggest law firm, and incidentally, one of the best ones in Los Angeles.
I am proud to be able to report to you tonight that this audit and this legal opinion is being forwarded to General Eisenhower. And I'd like to read to you the opinion that was prepared by Gibson, Dunn, & Crutcher, and based on all the pertinent laws and statutes, together with the audit report prepared by the certified public accountants:
"It is our conclusion that Senator Nixon did not obtain any financial gain from the collection and disbursement of the fund by Dana Smith; that Senator Nixon did not violate any federal or state law by reason of the operation of the fund; and that neither the portion of the fund paid by Dana Smith directly to third persons, nor the portion paid to Senator Nixon, to reimburse him for designated office expenses, constituted income to the Senator which was either reportable or taxable as income under applicable tax laws."
(signed)
Gibson, Dunn, & Crutcher,
by Elmo H. Conley
Now that, my friends, is not Nixon speaking, but that's an independent audit which was requested, because I want the American people to know all the facts, and I am not afraid of having independent people go in and check the facts, and that is exactly what they did. But then I realized that there are still some who may say, and rightly so -- and let me say that I recognize that some will continue to smear regardless of what the truth may be -- but that there has been understandably, some honest misunderstanding on this matter, and there are some that will say, "Well, maybe you were able, Senator, to fake the thing. How can we believe what you say? After all, is there a possibility that maybe you got some sums in cash? Is there a possibility that you might have feathered your own nest?" And so now, that I am going to do -- and incidentally this is unprecedented in the history of American politics -- I am going at this time to give to this television and radio audience, a complete financial history, everything I've earned, everything I've spent, everything I own. And I want you to know the facts.
I'll have to start early. I was born in 1913. Our family was one of modest circumstances, and most of my early life was spent in a store out in East Whittier. It was a grocery store, one of those family enterprises. The only reason we were able to make it go was because my mother and dad had five boys, and we all worked in the store. I worked my way through college, and, to a great extent, through law school. And then in 1940, probably the best thing that ever happened to me happened. I married Pat who is sitting over here. We had a rather difficult time after we were married, like so many of the young couples who may be listening to us. I practiced law. She continued to teach school.
Then, in 1942, I went into the service. Let me say that my service record was not a particularly unusual one. I went to the South Pacific. I guess I'm entitled to a couple of battle stars. I got a couple of letters of commendation. But I was just there when the bombs were falling. And then I returned -- returned to the United States, and in 1946, I ran for the Congress. When we came out of the war -- Pat and I -- Pat during the war had worked as a stenographer, and in a bank, and as an economist for a Government agency -- and when we came out, the total of our savings, from both my law practice, her teaching and all the time I was in the war, the total for that entire period was just a little less than $10,000 -- every cent of that, incidentally, was in Government bonds. Well that's where we start, when I go into politics.
Now, what have I earned since I went into politics? Well, here it is. I've jotted it down. Let me read the notes. First of all, I have had my salary as a Congressman and as a Senator. Second, I have received a total in this past six years of $1,600 from estates which were in my law firm at the time that I severed my connection with it. And, incidentally, as I said before, I have not engaged in any legal practice and have not accepted any fees from business that came into the firm after I went into politics. I have made an average of approximately $1,500 a year from nonpolitical speaking engagements and lectures.
And then, fortunately, we have inherited little money. Pat sold her interest in her father's estate for $3,000, and I inherited $1,500 from my grandfather. We lived rather modestly. For four years we lived in an apartment in Parkfairfax, in Alexandria Virginia. The rent was $80.00 a month. And we saved for the time that we could buy a house. Now, that was what we took in. What did we do with this money? What do we have today to show for it? This will surprise you because it is so little, I suppose, as standards generally go of people in public life.
First of all, we've got a house in Washington, which cost $41,000 and on which we owe $20,000. We have a house in Whittier, California which cost $13,000 and on which we owe $3,000. My folks are living there at the present time. I have just $4,000 in life insurance, plus my GI policy which I've never been able to convert, and which will run out in two years. I have no life insurance whatever on Pat. I have no life insurance on our two youngsters Tricia and Julie. I own a 1950 Oldsmobile car. We have our furniture. We have no stocks and bonds of any type. We have no interest of any kind, direct or indirect, in any business. Now, that's what we have. What do we owe?
Well in addition to the mortgage, the $20,000 mortgage on the house in Washington, the $10,000 one on the house in Whittier, I owe $4500 to the Riggs Bank in Washington, D.C., with interest 4 and 1/2 percent. I owe $3,500 to my parents, and the interest on that loan, which I pay regularly, because it's a part of the savings they made through the years they were working so hard -- I pay regularly 4 percent interest. And then I have a $500 loan, which I have on my life insurance.
Well, that's about it. That's what we have. And that's what we owe. It isn't very much. But Pat and I have the satisfaction that every dime that we've got is honestly ours. I should say this, that Pat doesn't have a mink coat. But she does have a respectable Republican cloth coat, and I always tell her she'd look good in anything.
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