Election of 1868. U. S. Grant, the Republican candidate balances himself on a narrow platform supported by Horace Greeley on one end and a black man on the other. His balancing rod, marked "U.S. Treasury" spews greenbacks out on one end and gold coin out the other. This refers to the "Ohio idea" for restoring monetary stability. Grant defeated the Democratic candidate Horatio Seymour by a very slim margin in the popular vote and a huge margin in the electoral college.