The 1928 Presidential Campaign and Raskob's Resignation from GM
Raskob was reluctant to become involved with politics. Pragmatic, and a reluctant public speaker, he supported the political interests of his business and personal patrons, the du Pont family.
From the mid-1920s however, Raskob was increasingly resident in New York, and as a Catholic, with children at prestigious Catholic schools, became familiar with the "movers and shakers" of the city's political life- unashamedly Catholic, and unabashedly Democratic.
The city's Democratic political leaders embraced Raskob as an establishment figure who could provide a businesslike approach to political campaigning, was a prominent anti-Prohibition advocate, and whose own deep pockets and connections could be tapped. Raskob headed the 1928 Presidential campaign of New York State Governor "Al" Smith, and went on to a 4-year tenure as Chairman of the Democratic National Committee.
Raskob enjoyed a friendly relationship with General Motors President Alfred Sloan. While both were reserved individuals, Sloan, unlike Raskob, was puritanical in character. Raskob never enjoyed the same cordiality with Sloan as he shared with more gregarious auto executives such as Walter Chrysler, who, while a competitor, remained a personal friend. Sloan, not only an organizational genius, proved to be a ruthless ally against the ever-present threat to the Raskob/du Pont vision for GM from the company's former owner, Walter Durant.
Sloan had a single-minded commitment to GM's success. He felt that Raskob's increasing outspokenness in public affairs might give the company an unwanted political affiliation. By 1928, however, Raskob and Pierre S. du Pont both felt that they had done their part to make the company a success, and were interested in new endeavors. Sloan's demand that "GM is not in politics" gave Raskob the opportunity to embark on a new chapter in his life. Pierre S. du Pont soon followed him in resigning most of his corporate positions and responsibilities.
Related Correspondence:
Raskob to Walter Chrysler -- friendly letter written from Palm Beach, Florida (March 1919)
Raskob to Alfred Sloan -- personal letter of appreciation (December 1927)
Raskob to Alfred Sloan -- Raskob's resignation from GM (July 1928)
Raskob to Lammot du Pont -- Raskob's thoughts on his resignation from GM (April 1929)
Raskob to Lammot du Pont -- recollection of the early years with GM and his resignation from the GM Board (March 1944)
Image: Raskob and "Al" Smith, New York State Governor and 1928 Presidential candidate, 1928. View image in Hagley Digital Archives