As I mentioned earlier, I visited the Billy Graham Library this week. One of my favorite items on display is a letter dated October 2, 1970 typed on White House letterhead and signed by Richard Nixon. The letter is written to Billy Graham and says the following:

Dear Billy,

A number of presidents have looked to you for spiritual sustenance over the years, but I suspect I was the first to hit you for a loan. But there I was, faced with that classic embarrassing moment– an empty pocket and a passing offering plate. I deeply appreciated the emergency financing which you quickly arranged for me that evening in Knoxville. I only wish that all the money problems that confront me could be handled that efficiently.

While deficit financing can be useful in a pinch, the time always comes when the deficit must be funded. In keeping with my concern for fiscal responsibility, I am hereby repaying your loan of May 28.

While I have my checkbook in front of me, I am going to send along a second check– this one drawn on the royalties from my book, “Six Crises,” and written to the Billy Graham Evangelistic Association. This action also represents a responsible fiscal decision in my judgement. For I view this contribution as a wise investment in a very important worthwhile activity.

With warm personal regards,
Sincerely,
Richard Nixon

The letter is on display next to a check made out to Billy Graham for $5. I’m guessing that was the loan repayment. I began wondering how generous of a tithe that is compared to today’s standards. According to this inflation calculator that would be like throwing just under $15 in the offering plate.